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This has nothing to do with labor theory of value.

• Privacy846 6y ago
  It is, however, relevant to my claim—which you took such offense to—that it is virtually impossible to become a self-made billionaire. The Economist author seems to agree that capitalist class struggle will help the would-be billionaire, not just his ability (pace Graham) to Build.
  • varjag 6y ago
    No, I called you precisely on labor theory of value. It is nothing short of incredible you manage to read between the lines in a one-liner. It is obvious that you can't really have any social advancement without any supporting social dynamics. Also odds are overwhelmingly against any given individual becoming a billionaire from a commoner background… yet the examples are numerous, and particularly in tech. I'm not commenting about merits of Graham's observations as am not a venture capitalist. But the LTV bit you were on, that's some ancient bullshit. I lived in the tail end of USSR, could observe first hand how well it worked.