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Comment Re:More (Score 1) 150

The fund is an S&P 500 index, not just a Nasdaq index. The top 10 holdings together form 17.8% of the fund. Still, the fact that 2 of the largest 3 companies in the S&P 500 are named in this lawsuit shows that a huge number of people would be affected (and likely to balk) if the companies were punished enough to have an actual impact.

Comment Re:More (Score 4, Interesting) 150

Too much money and power are in on the take. Apple is worth about 12% of the entire Nasdaq, so Apple + google is about 20% of the whole enchilada. In my Fidelity-managed 401K index fund, for example (that is, basically my life's savings), Apple is my #1 holding, right above Exxon, Google, and Microsoft. So 2 of those 4 would be directly impacted, and Microsoft would no doubt feel some fallout (through rising salaries for their talent).

In a true democracy this argument should not bear much weight, since MOST (over 50%) of all stock is owned by only 1% of citizens. Most of us have a tiny slice, and I (for example) would benefit much more from higher wages in the tech sector than from a little more growth in my 401K. But in general, we small-potatoes shareholders (that is, almost all shareholders) are too short-sighted to take a hit now for the long-term economy.

More ominously, real influence is proportional to the wealth of a group rather than how many people are in it. Even if you convinced the bottom 99% of voters, you would still only have a minority of shares.

The reason I dwell on this is because I think the same logic, exactly, explains why the bank bailout occurred and the implosion of Wall Street had no real corrective result on the US economy or the distribution of wealth.

Comment Re:You mean the malware isn't Google Play itself (Score 1) 100

My problem is, IIRC, you don't know what broad permissions an app is going to request upfront, until after you have downloaded and partially installed it. By then you have already wasted your time and bandwidth. You are invested. It would take half a day to look at 20 different versions of Tetris to see which is OK. If you could filter Google Play searches - "search for a version of Tetris that doesn't demand to look at my contact list" - then that would create a tiny bit of market pressure to not just demand everything all the time.

Comment Holy crap that's expensive (Score 2) 192

According to Amazon's website, the phone will range from $649 to $749 with an AT&T contract and will be available starting July 25.

cite. Even if that's a misprint and that's the price without a contract, that is WAY too much money!

It is amazing how much phone you can get for $100 now - GPS, decently high-res screen, MicroSD slot. If you ask me the movement is towards off-contract phones that provide a decent value, and $749 phones are going the way of the $3500 PC.

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