The stupidity continues: New York City, Deutsche and Signature Bank, Shopify, and a few other dwindling organization abandon the Trump Organization for what they imagine is ‘Social Justice’ 😂 – January 13, 2021,
First things first, I don’t know Donald Trump’s finances, quite possibly Donald Trump was broke long before or during his presidency, I don’t know. When it comes to real estate people, they’re usually knee-deep in debt, one of the major problems I had with Donald Trump was his standoff with Jerome Powell in which Trump pressured Powell to keep interest rates low, which oddly enough helped his detractors to borrow all the money they used to attempt to destroy his political career.
Had interest rates rose, instead of all this money spent on campaign financing, chances are his detractors would have been focused on trying to keep their businesses solvent. Had interest rates rose and Trump lost the election, the Democrats would have done what they’re going to start doing at the end of January anyway.
All that aside, financial institutions and digital products like Shopify 😂 aren’t exactly in the best of shape these days. The numbers for Shopify as an example are dire, I personally abandoned Shopify years ago, because of their integration systems, which I’ve written about before, and their horrible track record of converting visitors into buyers. I’d argue Shopify is doing Donald Trump a favor, Deutsche Bank is a major player, and Signature Bank make their money off of fees, I’m not really sure what to make of that decision, I don’t know if it matters much but maybe it does, I don’t know much about the operations of either entity.
The really funny part is New York City cutting ties with the Trump Organization, while Joe Biden is pushing for a FEDERAL minimum wage hike and the pro-union movement appears to be growing. Now, I’m sure losing government contracts is going to hurt Donald Trump’s bottom line, but last I checked people are leaving New York City in record numbers and it’s not like finding an experienced replacement will come without cost.
The emotional responses to Donald Trump are amazing, there are literal terrorist organizations being treated better by Democrats than they’re treating Donald Trump and the track record of Donald Trump vs. New York City has Trump with a sizable lead and economic advantage because most government people don’t understand that the government doesn’t build anything, they contract out jobs for specific purposes and the winners of said contracts often do these jobs because they offer a quality service at a below-market cost.
In order to compete for government contracts, you typically have to know how to do something front, back, and sideways, you have to see problems before they arise and that’s not common and it’s why most cities end up in financial straights. Anyway, the CNN article below gives you a glimpse into the partisan social justice warriors.
I personally think Shopify is a HUGE bubble waiting to explode, which is what really made me start to laugh, Shopify as many know has merged with Walmart in some respects, and its Stock as has many digital stocks have gone on a tear via the Coronavirus. With that said as I’ve stated in other posts, it doesn’t appear that Shopify offers much if any value to Walmart meanwhile the value of the Shopify stock far exceeds bubble territory.
Anyway, that was the part of the CNN article that really got my attention was that Shopify was abandoning the Trump Organization for social justice, I find this to be a very odd move for a growing business, especially when most small business people tend to be Conservatives, I’d even argue that the Waltons are Conservatives and the potentiality of Walmart getting into that level of politics is a bit weird to me.
The whole idea of Walmart is routed in rural America, I get it that Trump isn’t for everyone, but when GROWING a company, it’s wise to stay away from Politics to the degree in which it could hurt your bottom line. I also personally think Twitter and Facebook made a HUGE mistake by becoming Partisan entities because similar to Shopify, Twitter, and Facebook sell nothing physical to the best of knowledge? Which makes them all vulnerable to market forces. Amazon Basics exists, Amazon has AWS and isn’t entirely dependent on subscription services.
The Shopify fulfillment centers have promise, via Walmart but also are putting themselves at risk if Walmart decides to be more aggressive in its push to be competitive with Amazon.
New York City has horrible leadership and I think they’re doing Trump a favor, with that said I believe Trump is starting his own media company, which I believe has a lot of potential in the next 5 to 10 years when the Trump Administration is a distant memory. o it will be interesting to see who laughs last when all of this is over because after all Trump did get over 70 million votes!
New York City moves to end contracts with the Trump Organization | CNN
Interesting times ahead