I love living in the era of the business idiot. Multiple 3 trillion market cap companies forcing software down people’s throats that they hate that has grown a near-cultural level of ridicule about its propensity for errors, all because they forgot how to do anything but chase quarterly growth
— Ed Zitron (@edzitron.com) May 7, 2025 at 7:15 PM
A good portion of my old blog (merged into this one) from 2011-2023 encapsulates this modern era of the “business idiots” who are now in charge of these large cap companies (with the tech ones leading that pack). The “Peter Principle” is even more applicable with the current crop of senior management, executives and CEO’s running these companies. Many of them are the definition of INCOMPETENCE rising to the top. What many are good at is word salad bullshitism that gets shoveled out as corporate press releases and having this parabolic shield in front of them (where anything critical or reasonable, is deflected/reflected away from them). I know it is not all, but it’s a greater majority making it simpler to generalize.
But yes, the highly enshittified software that gets flooded out in their often times half-baked poorly tested state in the chase of that need for ever increasing revenues and profits (quarterly, yearly, and year over year) because of what Wall Street demands, is the definition of late stage capitalism that is about to go through some things.
This whole “AI” push exemplifies this; another pump and dump bubble that will end up like all prior bubbles, bursting with a group of suckers holding the bag. Many of the tech broligarchy got lucky (they are far from genius visionaries and should NEVER be put on a pedestal). But our societies have that obsession and give too many of these folks far too much credit (look at how many thought Elon Musk was one of these really smart people versus what many of us knew from before; that he bought his way to those companies and took credit for much of the hard work by the original founders/engineers). But I digress.
If I let emotion determine my portfolios, I’d just sell and divest myself of everything/wash my hands of the whole thing. But the rational part of me says I need to execute previously planned exit strategies in that more orderly fashion (it took me a bit of time for example to finally divest from Facebook). Plus I need to be mindful of my personal income stream (which is from dividend income since I do not expect social security to be a thing once I am eligible; I need to make my money work for me for a few more years especially now with this self-inflicted economic disruption with the tariffs by this kakistocracy regime in the U.S. which is going to increase inflation along with the high likelihood that the USD will be significantly devalued).
History has been fairly consistent where “what goes up, has to come down”, and the “bigger they are, the harder they fall”. The fall of the U.S. empire is just another casualty in this with an extensively broken system of politics and institutions that IMHO, needs to trashed (because I feel it is beyond fixing when much of it is owned by these “business idiots” who have bought the entirety of it via lobbying and corporate dark money).
