4 ms·
It's as simple as society gives his money value, and American society is getting anxious and resentful. As an abstraction, I like to think of money as crystali
by MrLeap 9y ago
It's as simple as society gives his money value, and American society is getting anxious and resentful.
As an abstraction, I like to think of money as crystalized human effort. Society makes decisions by the power of individual behavior in aggregate.
A bunch of people buy a ~new thing~. Over time and at scale, society creates a river of money towards the ~new thing~. Its depth and breadth calibrated to reward other people for working towards bringing that ~new thing~ to society. Entrepreneurs gather marketing, sales and laborers to build a village by the river. This is society's intuitive understanding of business.
Society's intuitive understanding of competition between villages is that it occurs as an innovation arms race. Lower prices, better products are the result.
The experienced village builder learns that the best way to win is to divert the river into a cave and build a moat around the entrance.
Patent portfolios, information asynchrony, non compete employee contracts, vendor lock-in, yearly subscriptions, Byzantine government regulations and a hundred other things deepen your moat.
These kinds of moats improve your margin -- but in a different way than what society is used to. It isn't resulting in better products at lower prices, it's making competition more difficult.
Other experienced builders try to take a tiny drop from every river, for every transaction. They're starting to build their villages vertically and profit from the organically grown river network. Exploiting insider knowledge on the foreign exchange market, transaction fees, whatever.
These kinds of businesses intercept money that would normally return to society when the people in the villages go home.
The village builders have begun consolidating and moving upstream, getting closer to society. Society has BENEFITED. Their desires are now easier and faster to fulfill than ever before!
And yet.. society (remember, people in aggregate) is starting to get weary. Most people are restless and anxious, despite full employment, stock market blowing up, etc. Your average person can feel the reservoir getting lower, while other people are filling lakes.
"U.S. consumer spending rises; savings drop to 10-year low".
Money is power. Your average run of the mill person is slowly shifting from a belief in the Virtuousness of the American System, Land of Opportunity to one of Powerlessness within inevitability of whatever that system hands you.
Ultimate power is derived from a mandate from a masses, and most people on some level know that! They just feel like they're strapped in to a slow motion train wreck, and they're afraid of how it's all going to end.
Just my opinion on why people might have the audacity to discuss and critique how some billionaires spend their money.
- qaq 9y agoYou are prob right just after living first hand in society that faced what happens after you run out of "other people's money" to spend (USSR) I am really averse to this line of thinking I guess.