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It's not like he took those $72 billion from poor people. He created wealth that wouldn't have existed with him. This is the basic principle for how economies g
by merpnderp 9y ago
It's not like he took those $72 billion from poor people. He created wealth that wouldn't have existed with him. This is the basic principle for how economies grow.
- sp332 9y agoSorry, where did the $72B come from then? Pretty sure it came from other people, generally people who had less money than he did.
- wuliwong 9y agoYou should do some reading on the monetary system. It isn't as simple as you seem to think.
- sp332 9y agoI don't think it's simple. That's why I'm asking.
- mrep 9y agoHe started a business with 100% ownership and traded it away bit by bit for cash from investors and compensation for employees all in mutually agreed exchanges. Meanwhile, this business also started selling advertisements in mutually agreed exchanges which turned out to be very lucrative. After years of doing this, his business has now become wildly lucrative and the average investor would pay 72B for the shares that he has left (which will pay out the future returns of his lucrative company).
- sp332 9y agoFacebook has been sued for click fraud, illegal ad targeting, underpaying employees, and privacy violations. They've been criminally charged with misleading regulators and for other privacy violations. I don't know if the majority of the market share was gained with underhanded and illegal tactics but some of it was.