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This is a refreshing perspective on inequality. FWIW, I think one additional thing that would help with tilting the scales away from the 1% is the fact that mos
by bsbechtel 11y ago
This is a refreshing perspective on inequality. FWIW, I think one additional thing that would help with tilting the scales away from the 1% is the fact that most laws and contracts are written to put financial creditors first in line for any sort of liquidation of assets in a company. The VC industry oftentimes includes at a minimum 1x liquidation preferences in a liquidity event of any company. Banks also often get paid first in bankruptcy filings before suppliers are compensated for goods and services provided on credit. This may only make a small difference in the global economy, I'm not sure. However, it seems like someone investing their time into a company, whether as an entrepreneur or as a supplier providing goods and services, deserves to be compensated first, given they can't get their time back, before financial providers are compensated for their contributions. Furthermore, their are many more suppliers and entrepreneurs than exist financial creditors in the economy today. Ensuring these individuals are compensated first when things go poorly tilts the scales a little more towards the 99% vs the 1%. Anyways, that's just my 2 cents.