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>There is no scenario where Zuckerberg's net worth is reduced to an amount that one person is capable of spending in a lifetime. In terms of acting as an accoun
by throaway466744 7y ago
>There is no scenario where Zuckerberg's net worth is reduced to an amount that one person is capable of spending in a lifetime. In terms of acting as an accountability mechanism, what is the difference between $100M and $65B?
This is the problem of your own making when you want to decide for others the amount of money you can steal/take from them for whatever reason (don't really need that much, must be punished an arbitrary number because you think it's fair etc...). Whether it is this topic or another, the conclusion is that people will never be satisfied as long as the person is not homeless. Even if he is reduced to 1 million of net worth, you will say: "but he is still a millionaire while people from the millions of lives he has destroyed earn minimum wages"
As someone else said in this thread, with 50 billion you can invest (angel investment etc..) and live very differently than with 100 million. Most people cannot understand that but they do not need to, and shouldn't feel entitled to understand because this is not their life. The most important thing is that market dynamics truly keep a private entrepreneur/corporation accountable.
I am not saying regulations is never needed, I am strictly strictly speaking about the topic of keeping people in check in the context of this discussion. And net worth is a shortcut to say many other things: trust, reputation, ability to raise money for ventures etc... what I'm saying is that corporations face this type of pressure so there is a line they can't cross (unless the government granted them a monopoly, like in telecoms, but then this is the government's fault).
> What was the Emergency Economic Stabilization Act of 2008 about then? And did the CEOs of any of the banks that were bailed out by TARP end up suffering any material deprivation as a result?
I do not disagree but these systemic banks are largely extensions of the government, 99.99% of corporations are not banks.