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<blockquote style="position: relative; padding-left: 55px;"><section><a href="https://mamot.fr/users/pluralistic/statuses/112910332893479304">Cory Doctorow (pluralistic@mamot.fr)'s status on Tuesday, 06-Aug-2024 04:46:58 JST</a><a href="https://mamot.fr/@pluralistic" title="pluralistic@mamot.fr"><img src="https://gnusocial.jp/avatar/1478-48-20250110225240.webp" width="48" height="48" alt="Cory Doctorow" style="position: absolute; left: 0; top: 0;">Cory Doctorow</a><div><a href="https://mamot.fr/@pluralistic/112910332398283806" rel="in-reply-to">in reply to</a></div></section><article><p>You know the notorious "carried interest loophole" that politicians periodically discover and decry? "Carried interest" has nothing to do with the interest on a loan. The "carried interest" rule dates back to 16th century sea-captains, and it refers to the "interest" they had in the cargo they "carried":</p><p><a href="https://pluralistic.net/2021/04/29/writers-must-be-paid/#carried-interest" rel="nofollow noreferrer">https://pluralistic.net/2021/04/29/writers-must-be-paid/#carried-interest</a></p><p>Private equity managers are like sea captains in exactly the same way that leveraged buyouts are like mortgages: not at all.</p><p>24/</p></article><footer><a rel="bookmark" href="https://gnusocial.jp/conversation/3479469#notice-6838662">In conversation</a><time datetime="2024-08-06T04:46:58+09:00" title="Tuesday, 06-Aug-2024 04:46:58 JST">about 6 months ago</time> <span>from <span><a href="https://mamot.fr/@pluralistic/112910332893479304" rel="external" title="Sent from mamot.fr via ActivityPub">mamot.fr</a></span></span><a href="https://mamot.fr/@pluralistic/112910332893479304">permalink</a></footer></blockquote>

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Cory Doctorow (pluralistic@mamot.fr)'s status on Tuesday, 06-Aug-2024 04:46:58 JST Cory Doctorow
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You know the notorious "carried interest loophole" that politicians periodically discover and decry? "Carried interest" has nothing to do with the interest on a loan. The "carried interest" rule dates back to 16th century sea-captains, and it refers to the "interest" they had in the cargo they "carried":
https://pluralistic.net/2021/04/29/writers-must-be-paid/#carried-interest
Private equity managers are like sea captains in exactly the same way that leveraged buyouts are like mortgages: not at all.
24/
In conversationabout 6 months ago from mamot.frpermalink

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