News for hackers. Stuff that matters.

A comment on Europe is in danger of regulating its tech market out of existence. Parent comment

Re:Europe is in danger of regulating its tech market out of ... by toomuchtodo on Saturday July 27, 2024 @12:37AM (#41084487)
These numbers are always trotted out like these people have a material majority investment in the equities market (“won’t someone think of the teacher pension”), when per the Federal Reserve, the top 10% of Americans by wealth hold 93% of US equities.

This doesn’t entirely discount that CalPERS holds almost 40M shares (~$8.7B) of Apple (its top holding), just that them doing so is not reason enough to be more judicious about governing corporate profits. Still profits, but less. Those profits have to come from somewhere.

(CalPERS has $502.9B AUM ending June 2024, making APPL ~1.72% of their total assets)

https://www.calpers.ca.gov/docs/forms-publications/acfr-2023... (page 115)

https://calpers.ca.gov/page/newsroom/calpers-news/2024/calpe...

[ Parent | on HN ]
Re:Europe is in danger of regulating its tech market out of ... by jonnybgood on Saturday July 27, 2024 @12:56AM (#41084539)
That seems all quite orthogonal. You asked who benefits and I’ve given you an example. Some benefit directly and some indirectly. But millions in the economy benefit and not just through institutions such as CalPERS.
[ Parent | on HN ]
Re:Europe is in danger of regulating its tech market out of ... by toomuchtodo on Saturday July 27, 2024 @12:59AM (#41084546)
Fair point, some people lose when policy is patched.
[ Parent | on HN ]