The Mass Transformation of Other People’s Risk Into Profit

When these individuals look at risk, it’s not their job or in their self-interest to consider national risk. Whether it is national security, espionage, supply chain fragility or dependencies, or something else, the cost of this type of risk is completely invisible to them. The only risk that appears on their balance sheets is the risk to their own profits.

Source: The China Hack and How to Reverse It – The American Prospect

Though I hate the phrase, the real scandal isn’t what’s illegal, it’s what is legal. Bravo degraded the quality of software, which usually just means that people have to deal with stuff that doesn’t work very well, but in this case enabled a weird increase in geopolitical tensions and an espionage victory for a foreign adversary. It’s yet another example of what national security specialist Lucas Kunce notes is the mass transformation of other people’s risk into profit, all to the detriment of American society.

Source: How to Get Rich Sabotaging Nuclear Weapons Facilities – BIG by Matt Stoller

“The mass transformation of other people’s risk into profit, all to the detriment of American society” feels like an apt tagline for Republican capitalism with its regulatory capture, gleeful shitting of off-the-sheets externalities, and socialization of risk. See also the Texas mess.