Difference between revisions of "Apple gives $2.5B to affordable housing"
(Created page with "Apple contributing $2.5 billion to fight housing shortage in California. Forgive me, but this kind of dumb virtue signaling convinces me that it's time to start divesting my p...")
Revision as of 18:43, 7 November 2019
Apple contributing $2.5 billion to fight housing shortage in California. Forgive me, but this kind of dumb virtue signaling convinces me that it's time to start divesting my portfolio of Apple stock, as it's obviously overweighted and management decisions aren't being made on common sense. If Apple wanted to make a bigger difference on local housing, all they'd have to do is expand operations in other cities, and decentralize, or allow more remote workers -- that would cost them far less than $2.5B (and it would save them money in the long run), do far more to de-pressurize the area on housing and housing costs, and it would allow more diversity of thought/culture that would help them make better products and provide better customer service. But they went with feel-good symbolism that won't get ahead of the problem.
BTW: Where did this influx of cash come from? It came from Trump tax cuts that allowed Apple to re-patriate foreign cash and spend it helping America/Americans.
Thus while I don't mind philanthropy, and have nothing against this move. It's a REALLY dumb way to spend investors money. It doesn't improve social justice or fairness, it means that there will be winners and losers in some loser-lottery, where they give the biggest victims or failures, the biggest rewards, to encourage more of it?