Financial education inadequate?

Every evening before the news, we're told we have no knowledge of the "laws" of financial capitalism. Of course, the word "capitalism" is conveniently ignored. A prime example of these "laws" is currently on display at the US tech company Meta. As Heise.de reports, 8,000 employees are to be laid off in May, and 6,000 open positions will not be filled. In typical capitalist logic, one could say that things always go up and down, and sometimes it affects some and sometimes others...

But despite this announcement, Meta's share price is soaring, even though HR Director Janelle Gale writes in an internal memo: "The layoffs will explicitly also affect employees who have made 'valuable contributions.'"

In other words, speculation on the stock market is not based on the work of people who make "valuable contributions," but rather on risky assumptions about even more profits from even more AI data centers. "The already enormous investments in AI data centers will increase significantly again this year," writes Heise.de.

So, who lacks sufficient financial literacy to ensure a good life for everyone?

Read more https://www.heise.de/news/Freitag-Meta-Entlassungen-wegen-KI-Intel-Aktiensprung-trotz-Milliarden-Minus-11270635.html

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