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You speak as if he's playing any role in that money doing useful work. He's not, he's sipping drinks by the pool, while millions are doing all the actual work.
by Florin_Andrei 11y ago
You speak as if he's playing any role in that money doing useful work. He's not, he's sipping drinks by the pool, while millions are doing all the actual work. He just happens to have his name written on the paper. That money would do the same work no matter what the name is - or indeed, without any name on the label. That's what differentiates someone doing useful work (e.g. Elon Musk) from all the fancy-drink-sippers no matter what their names are.
Beyond a certain limit, ownership is bullshit. It's really stewardship, but it's forgotten its true limits and purpose.
When you're touching so many people and resources, you're a steward, not an owner, period. What's lacking now is a mechanism for the bad stewards to undergo corrective action.
- yummyfajitas 11y agoI didn't claim he was playing a role in the management of any company, I merely claimed he wasn't holding money. If you believe Piketty that the wealthy are better investors than the rest of us then the wealthy are actually doing useful work: directing resources towards their most productive use.