Jack Murphy ☀️ Profile picture
Aug 15, 2018 20 tweets 5 min read Twitter logo Read on Twitter
Elizabeth Warren wants to meddle in corporate governance. She wants corps to:

- give employees 40% of Board Seats (take from owners)
- focus on outcomes other than profits - like social justice

which she admits will:

- evaporate trillions in wealth

Per @mattyglesias - Warren's plan will limit share buy backs, move CEO focus away from profits, and somehow make employees richer.

They both fail to realize that share buy backs mean an investor got their $ back - which they in turn, reinvest.

Vaporizing wealth is never good.
Her goal is to "save capitalism" but really its a step towards collectivism.

She wants to literally take 40% of voting rights away from the actual investors and hand them over to employees.

If customers and investors wanted this sort of thing, the market would demand it.
But of course, the markets don't want it. Investors want maximum return on their money. That's why they invest.

If investors wanted to donate to charity, they can..

Putting employees in charge of Fortune 500 companies is the ultimate counter example to "skin in the game."
We all are self interested.

Employees in charge of billion dollar companies

- without owning any of it -

would invariably lead to financial and economic decline as employees seek to maximize their incomes at expense of investment and shareholder value.
Warren and Iglesias see this move as a "budget neutral" (ie. not taxes or spending) way to solve for inequality.

And they admit, they solve for inequality by vaporizing trillions in shareholder value.

To be sure - rising inequality, which exploded under Obama - is alarming and a source of anger for Americans of all parties.

But one way to have fixed/prevented it would have been to let AIG / Goldman fail in 2009.

Instead, Obama bailed them out and let them skate free.
Exploding inequality drove voters to go #DemocratToDeplorable, and I address these issues in my book.

There I show you the big picture and how all of this led to Trump in 2016.

Warren's plan would hand 2020 to Trump with a bow on it!

Think Warren will have the support of Wall Street with this plan?

How will promising to vaporize trillions in wealth AND requiring corporations to simply hand over voting rights to non owners play with the oligarchs in this country?

Not well.

Main St. + Wall St. = #MAGA2020
Want to learn to see the big picture like this? Want to tie history, philosophy, economics, feminism, and the current culture wars into one coherent understanding of the world? Want answers? Want to know you're not alone?

Buy my book - it's all in there.

Iglesias and Warren offer up their goal is to: "eliminate the huge financial incentives that entice CEOs to flush cash out to shareholders rather than reinvest in businesses."

Where do I even start with this?

They both fail to understand incentives and the capital markets
"Flush cash out to shareholders"

Hello communists: shareholders purchase shares with the express desire to have that sweet delicious cash flushed right back to them..and then some!

This is what happens when the state gets involved in business. They bring their ignorance to law.
"Rather than reinvest in business"

CEOs can raise earnings per share (EPS) a few ways. One is to do share buy backs.

Another, reinvest in the business.

CEOs will do which ever one is financially rational, because they get paid on EPS GROWTH.

Warren wants to decide for them.
This brings me to my most important point:

CEOs whose wealth depends on them growing EPS, whose power comes from bigger valuations, whose entire professional persona stems from value creation...

Are not reinvesting in their own companies.

It doesn't make sense to them.
Corporate cash balances are off the charts. Trillions in cash sits off shore. Capital investment and innovation aren't enticing enough. Cash collects dust rather than buys new equipment, creates new tech, or solves massive problems.

This should scare us.
Ultimately, this Warren proposal will never happen and she'll never seriously put it forth as her platform.

The people it would hurt the most are aging boomers ready to cash out and retire. Vaporizing their retirement fund aint a way to get votes.


Aging boomers with their 401k's will have a choice in #2020 -

Elect a shareholder antagonist like Warren and thus kick out their retirement year by a decade.

Or vote Trump, who they know will at least work to maximize boomer portfolios so they can retire rich.

Tough choice?
In sum - as another commenter said:

"Be wary when a Democrat says they want to save capitalism."

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More from @jackmurphylive

Oct 9, 2018
What are you complaining about?

You're using alcohol and charm to convince someone to give you information they shouldn't.

And now you're upset that he wants to hit on you?
Again - this isn't a "colleague" this isn't her "boss" this isn't anyone she even works with. This guy is a dude she is seducing for information, plying him with alcohol, pretending to be his friend, when all she wants is information from him.

And the she complains when it works
What bothers me about this is that this women is manipulating the guy, then complaining about it being effective.

All her followers think she was sexually harassed!

Guys - if you respond to a woman's seduction - you're a harasser!
Read 7 tweets
Oct 6, 2018
Alright y’all. I’m headed down to the Mall.

I ain’t gonna miss this historic shit show.

Stay tuned.
Not gonna lie. My heart rate is up and my stomach is twisted.

Anticipating a deluge of human energy hitting me in about twenty minutes.

Also, no way for me to hide my identity either. Who knows what’s gonna happen.
Antifa set shit on fire and destroyed all kinds of property after the inauguration.

This SCOTUS appointment is arguably as impactful if not more so bc of the tenure.

Wonder what the reaction will be on the streets.

Will we see black bloc show up?
Read 8 tweets
Oct 3, 2018
I didn't know @archillect was a synthetic intelligence. Wow.

This article speculates on how synthetic intelligences may or may not be able to endure fame, especially if their appeal lies in taste making / curation.

h/t @primalpoly

As @archillect becomes more famous and engaged by a mass audience rather than niche, her ability to ID interesting trends in visual tastes decreases.

This is a fascinating parallel to how mass culture subsumes subcultures and denudes them through appropriation.
Mass culture values subcultures and niches.

Yet adoption of underground ideas/arts/music/trends invariably leads to stripping the subculture of the value which first made it appealing to early adopters - and thus the masses.

The sad irony of subculture evolution.
Read 4 tweets
Oct 2, 2018
University of New Mexico is BOOKED.

ABQ here I come!
Columbia University almost confirmed.....
Read 4 tweets
Oct 2, 2018
In two years I’ve gone from an anonymous account with 0 followers, to a semi-public figure touring college campuses across the country.

I don’t talk about mindset very often, but I do lead by example.

Set outrageous goals and force yourself to rise to the challenge.
I promised I’d write a book even though I’d never done it.

I promised I’d tour the country, even though no one had ever asked me to speak.

And now I’m getting offers to do political consulting…

All by having a vision and working tirelessly towards it.
I'm seriously blessed. I have a small but solid donor base who is funding my travels.

I have amazing readers who are loyal and loud.

And I couldn’t do any of this without all of your support, so thank you very much from the bottom of my heart.
Read 7 tweets
Oct 2, 2018
It was an honor and a privilege to meet @JonHaidt last night. I cite his work heavily in #DemocratToDeplorable. I gave him a copy of the book as he signed my copy of Righteous Mind.

Told him I was speaking at Evergreen. His advice: read How to Win Friends and Influence People.
I asked him a tough question: "now that the implicit bias test has been debunked, what does that mean for Righteous Mind's main thesis?"

He said that did in fact have to go back and make some changes to both Righteous Mind and Happiness Hypothesis now that the IAT is bunk.
But Haidt seemed confident in his original idea which is that we're ruled by emotions rather than reason.

I tend to agree with him.

Still, the IAT is garbage which should be lit on fire and tossed in a dumpster.
Read 8 tweets

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