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the paramount/warner antitrust suit could have done serious damage to this man’s empire and I will not stop being furious at everyone in california politics who caved on it

Matt Novak@paleofuture.bsky.social

“Oracle officers and directors are forbidden from pledging company shares as collateral for personal loans, with one exception, Larry Ellison… The total stock pledged now represents about 36% of Ellison’s total holdings of 1.16 billion shares.”

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Also, using shares as collateral should be illegal - their "unrealised gains" somehow "can't be taxed," so billionaires use them as tax-free money. Shares should only be traded for cash-fucking-money - sell your shares, use the cash (which is taxed). Boom, solved like 1/2 the billionaire problem.

my conspiracy is newsom / bonta are expecting favorable coverage as payment for their work in handing over our media ecosystem to the oligarchs. Otherwise it doesn't make any sense to roll over