Technology

The Twitter story is not a one-off case, nor is it evidence that Wall Street and the homegamers alike are comprised of greedy fools who will fall for anything. To the contrary, the destructive outbreak of corporate moonlighting in behalf of woke ideology and partisan causes was born, bred and matriculated by the money-printers at the Fed.  At the end of the day, it is bad money that leads to bad, value-destroying behavior in the C-suites—just one more instance of the “malinvestment” which is the inherent result of monetary inflation.

Twitter’s phony “content moderation” operation was not unique, but symptomatic of a much broader perversion of corporate management throughout Silicon Valley and much of corporate America, too. In a word, the stock market was so fantastically over-valued owing to the Fed’s egregious money-printing that executives were given leave to pursue their political and ideological hobby horses on a whim, rather than keep their noses on the grindstone of profit and loss.