tag:blogger.com,1999:blog-3504152389298899975.post1529272483791841098..comments2024-02-21T00:15:43.468-08:00Comments on Left Coast Conservative: Wall Street Occupiers - Their Ignorance Explicated.Left Coast Conservativehttp://www.blogger.com/profile/05125102691834528348noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3504152389298899975.post-29705429946197146052011-10-22T10:22:08.795-07:002011-10-22T10:22:08.795-07:00FACT-CHECK:
Apple Computers left the garage in Jan...<b>FACT-CHECK:</b><br />Apple Computers left the garage in <b>January 1977</b>, nearly four years before their IPO in Dec 1980. <br /><br />They had nearly <b>one thousand employees</b> before they went public, and had shipped thousands of products. They were already growing by leaps and bounds, thanks to hard work, ingenuity and private investors.<br /><br />This meme implies that a company has no chance of leaving a garage or basement without Wall Street's help. This is patently false. There are many large and successful American companies that remain private.<br /><br />Another claim of this meme seems to be that the Wall Street finance sector should be excused for blowing a gigantic hole in the world economy (by pushing toxic financial products packed with bad loans) because Wall Street firms often provide investment capital. This is like saying we should never protest the government because government serves several useful purposes. This is just ignorant.<br /><br />Another flaw -- the people who bought Apple stock in 1980 were not all Wall Street executives. Anyone can buy stock. You probably knew that, yes?<br /><br />I could go on and on, but it's a beautiful day outside. So, class dismissed.Matt Curtishttps://www.blogger.com/profile/15561905633000425403noreply@blogger.com