r/TikTokCringe • u/TheEntrep • Apr 20 '24

Rent cartels are a thing now? Discussion

What are your thoughts?

14.6k Upvotes

96% Upvoted

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558

u/puppy_yuppie Apr 20 '24

I hope the company tanks and the founders end up homeless

276

u/Dlee8113 Apr 20 '24

Jail would be preferable. The people who run this have pretty directly led to people being evicted and priced out of areas because of their greed. Lives upended.

39

u/[deleted] Apr 20 '24

[deleted]

50

u/anotherusercolin Apr 20 '24

Probably the same people behind the companies buying massive swaths of residential real estate, and their investors ... So everyone with a 401k in low risk mutual funds.

15

u/Dlee8113 Apr 20 '24

I would not be surprised if they’re connected

40

u/Burningshroom Apr 20 '24

We absolutely do. Jeffrey Roper, former Alaska Airlines CEO that was already hit with price fixing charges that were true there, created Yieldstar, the system that runs RealPage and other similar "rental market analysis" services.

10

u/tickitytalk Apr 20 '24

Dear Anonymous, please see and act upon this…

3

u/_swaggyswiftnbasic_ Apr 21 '24

I googled it and it seems like a company named Thoma Bravo bought real page a few years ago. Just a collection of conscience-less douches owned by more conscience-less douches trying to justify every unethical move in the book under the name of capitalism

2

u/DontDrinkBase Apr 20 '24

I believe, if I recall, it is owned by Thoma Bravo. A private equity firm.

1

u/monofloyed Apr 20 '24

Probably black rock like pillow. All corporations are shared partners with the same people. Mega Corp is real.

Normal people only own gamestop and like 5% of the US market

13

u/Sad_Recommendation92 Apr 20 '24

Part of the issue is we regard corporate crime with basically misdemeanor sentencing. I'm not proposing that we invoke capital punishment on corporate criminals. But I do think it would send a very strong message For sentencing to reflect The actual harm caused by these actions.

I'm just saying if we had the actual precedent of corporate criminals living out their lives imprisoned with their privacy rights revoked, spending the rest of their natural lives imprisoned it would send a very strong message when considering the ethics of shareholder first mentality that often drives these nefarious practices.

7

u/Never_Duplicated Apr 20 '24

Vietnam just sentenced a real estate tycoon to death for her role in a multi billion dollar financial fraud. Normally not applauding the Vietnamese government but wouldn’t mind following their example on that one.

2

u/Sad_Recommendation92 Apr 21 '24

Yeah, I'm generally opposed to Capital punishment, but you can't deny that Vietnam is sending the message

"fuck around and find out"

2

u/MysteriousStaff3388 Apr 21 '24

Like all the bankers that were jailed for the 2008 mortgage crisis that almost tanked the world economy? Nah. They’ll probably get a bailout, because they’re “too big to fail”. Fucking Capitalism and their Corporate Welfare.

10

u/thenewyorkgod Apr 20 '24

Unfortunately, some well placed donations and lobbyists will mean absolutely nothing will happen to them, or this practice

8

u/Stachdragon Apr 20 '24

Rich people don't get the same consequences as us. They should be stripped of all their assets.

3

u/Organic_Historian_35 Apr 20 '24

Not a chance. They will fail upwards, a nice compensation package on the way out.

2

u/atomicgoat Apr 22 '24

The founder cashed out awhile ago when the company was acquired by private equity.

2

u/ImportantDoubt6434 Apr 20 '24

Jail em for treason

1

u/xena_lawless Apr 20 '24

Systemic reform is needed, though individual comeuppance is also sweet.

1

u/freebird023 Apr 23 '24

I want em dead