r/technology • u/marketrent • 1d ago

Site altered title “ALL HAIL CHAIRMAN TRUMP! WITH HIS GLORIOUS 10% PURCHASE OF INTEL, THE SOCIALIST REPUBLIC OF AMERICA ENTERS A BOLD NEW ERA” -- California governor Newsom riles Republicans with Trump-trolling posts

https://www.barrons.com/news/meme-lord-newsom-riles-republicans-with-trump-trolling-posts-05b74794
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712

u/JSpell 1d ago

Wait, what about the free market.....

193

u/_SummerofGeorge_ 1d ago

Freedom costs a buck o’ five bro

32

u/BrewHog 1d ago

Yeah there's a hefty fuckin fee

10

u/Substantial-Low 1d ago

Freedom isn't free

-2

u/Abe_Linkin1025 1d ago

Freedom isnt crime

7

u/Substantial-Low 1d ago

Watch Team America, yo!

6

u/couchbutt 1d ago

Inflation, bro. Tree-fiddy.

2

u/whollynondescript 1d ago

Dammit Loch Ness Monster! I ain’t givin you no three fiddy!

1

u/SirNortonOfNoFux 1d ago

Bout tree fiddy

1

u/lloydchristmas15 1d ago

Durka durka

1

u/scootscoot 23h ago

Jihad jihad.

75

u/True_Window_9389 1d ago

What about Congress? I guess it’s silly to even bring up, but how did we get a 10% stake in a private company without Congress appropriating the funds and writing approving legislation? Where is the legal basis for this?

27

u/Standard-Ad-4077 1d ago

It was going to Intel already via the CHIPS act, so Trump just got something for it upfront instead.

This should be common practise for companies to receive money from the Feds that isn’t in the form of tax breaks. Now the public owns 10% of Intel, which will most certainly be worth more when they eventually sell it if at all.

30

u/Defiant_Review1582 1d ago

You’re getting downvoted but you’re correct. I remember Democrats and Republicans wanting a piece of Boeing last time they “needed” a bailout and then miraculously Boeing was able to find money in the private sector.

ETA: I don’t agree with giving any of these corporations free government money and too big to fail is a shit sandwich that rich people feed taxpayers. It’s socialism for the rich and capitalism for the poor

3

u/Freud-Network 1d ago

Now the public owns 10% of Intel, which will most certainly be worth more when they eventually sell it if at all used in the future to give unfair advantages to intel so the government does not lose.

FTFY

All the trappings of communism without any of the nonprofit charity. The very thing they demonize. People are pointing out the hypocrisy of it.

2

u/IljaG 1d ago

I live in Belgium and when the government bailed out the banks in 2008, we got a stake in them. They are now looking to sell the stock because it went up 200%. So it's not unheard off.

1

u/Standard-Ad-4077 1d ago

Nope, NZ did the same with their airline and it keeps them in check.

1

u/AkPuggle 1d ago

“Most certainly be worth more” not even remotely the true. The company is an absolute dumpster fire.

1

u/Standard-Ad-4077 1d ago

Let me borrow your crystal ball to win the lotto then.

1

u/Comfortable-Ad-3988 1d ago

You see, all of the Republicans are "bought in", so they get the intel to make mad money on the bullshit maneuvers going on, while the rest of us get "fucked in the ass". Those are legal terms.

3

u/the_red_barren 1d ago

Remember when Republicans were pissed that Obama bailed out American car companies? 🤭 

2

u/Sniflix 1d ago

Don't even go that far. No transaction has happened, just trump's announcement. We know how reliable that is. Until you can look at major financial sites to see the largest holders of Intel stock and it says US Treasury 10%, it's nothing.

1

u/solidstatepr8 1d ago

Right, you are free to bend over and do what you're told

1

u/koshgeo 1d ago

AMD probably really wants to know the answer to that question about now.

1

u/lovely_sombrero 1d ago

The free market never existed, at least outside of two random people meeting in the desert maybe. The markets are created and regulated by the government, the government sets the rules for everything and also does contract enforcement, property protection and so on.

1

u/sierrat0nin 1d ago

Gonna need about three fifty

1

u/yoontruyi 1d ago

From what I understand, they were already going to give Intel this money, but instead of giving it to them by grants or etc they are instead of doing it by getting stock or something?

I think it's alright. The free market really doesn't exist in making semiconductors. The patents are all locked in.

If anything, while this wouldn't be a free market, it does help competition.

1

u/JSpell 1d ago

Yeah, someone was explaining it like the big bank bail out, but instead of just giving them money the government buys part of the company. That sounds better, but then you worry they will rig the game to help their companies. Like congress does since they're all bought and paid for, but at least they hide and deny it?

1

u/jag149 1d ago

So… I think that the idea of holding “conservatives” to their values is long gone. They have no values. “Free market” or “laissez faire” or whatever the fuck was always an intellectually dishonest response to the earnest debate about how to regulate the self-destructive influence of business so that society could still thrive. 

These fucking monstrous fascists don’t even care about exalting business anymore. This was always about racism. The call is coming from inside the house. They would rather burn it all down than allow equality, and the corporate overlords got the message. 

Newsom’s messaging is so effective because it concedes that the other side has no values. If you don’t care about anything, then let’s see what not caring about anything looks like, you fucking hacks.