> On the other hand, short-term shareholders, inasmuch as they prefer returned c... | Hacker News

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		nicoburns on Sept 9, 2020 \| parent \| context \| favorite \| on: The Long-Term Stock Exchange Opens for Business > On the other hand, short-term shareholders, inasmuch as they prefer returned capital, are then freed to invest in other businesses. I'm not sure that's a benefit if they then destroy those businesses too.

ethbr0 on Sept 9, 2020 [–]

Not all businesses are productive. Look at a few decades of Japanese economic history.

If capital is tied up in a failing business that's pursuing a "long term strategy," then it's not freed for new businesses.

SpaceX and Tesla (to name two HN faves) probably wouldn't exist had PayPal retained more of its capital.

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