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Meritocracy in action.
by learnstats2 9y ago
Meritocracy in action.
- meri_dian 9y agoThey took the risk, gambled on Bitcoin when others were too afraid to. They were rewarded for their gamble. Seems fair to me.
- learnstats2 9y agoSure, and how did they have the money to gamble (sic) on Bitcoin?
- ringaroundthetx 9y agoBy successfully pursuing their claim against Facebook till the end to the tune of 65million USD Of which they put 1/5th of the Facebook shareholder money into Bitcoin
- meri_dian 9y agoThey were entrepreneurial enough to get entangled with Zuckerberg and Facebook. And to do that they had to be at Harvard at the right time, which involved being born in the right circumstances of course.
- bubxo 9y agoIf you're already a multi millionaire, gambling a few million on bitcoin isn't really a risk. If you're poor, you aren't "afraid to" take a gamble - you can't afford too. Maybe this is all fair by the rules of the current economy. But maybe the rules aren't fair to begin with.
- TAForObvReasons 9y ago> gambling a few million on bitcoin isn't really a risk They didn't just invest a few million, they also stuck their necks out in a very public way and made efforts to bring Bitcoin to the investment masses (via the ETF). A failure in Bitcoin would have reflected very poorly reputation-wise.
- drzaiusapelord 9y agoAgain, a slight social hit that is completely excusable (no investor is perfect) is a far cry from losing your home, savings, car, job, etc like a middle class person would have.
- bubxo 9y agoAh, so what non-millionaires like me are doing wrong is we're not starting a bitcoin ETF. I'll have to start one in the spare time between my two jobs. Meritocracy!
- meri_dian 9y agoAnd if everyone started out with the same amount of money in life you'd still be bemoaning the unequal distribution of advantageous genetic traits.