> aristocracy was zero sum and rent seeking where billionaires aren’t necessarily How can you look at companies like Google, Apple and Facebook and conclude th

> aristocracy was zero sum and rent seeking where billionaires aren’t necessarily How can you look at companies like Google, Apple and Facebook and conclude they aren't rent-seeking? Google's entire business is essentially renting space on the most valuable real estate in the world. Apple routinely shuts down or replaces apps that compete with theirs. All of these companies seek to just barely toe the line of not being subject to anti-trust laws. Of course these are companies rather than individuals, but the nature of capitalism is such that rent-seeking happens via corporations controlled by the wealthy. > But Bill Gates being born to a middle class lawyer and making billions Other people can litigate the specifics of Bill Gates or others, but the US has poor income mobility compared to other wealthy countries, largely due to the capture of our political system by the billionaire class.