3 ms·
Interesting, but also disgusting. No-one should be a billionaire. Having that much wealth and power concentrated in the hands of such a few is a societal sickn
by crumbshot 6y ago
Interesting, but also disgusting. No-one should be a billionaire.
Having that much wealth and power concentrated in the hands of such a few is a societal sickness.
They're effectively stealing a disproportionate amount of our world's resources for their own pleasure, at the expense of everyone else.
- jedberg 6y ago> They're effectively stealing a disproportionate amount of our world's resources for their own pleasure, Not really. Think about this way. One share of Amazon costs $3,292.23. If someone gathers $3,300 and offers to buy that share at that price, Jeff Bezos's wealth just went up $424,000,000. But it's not like he took $424MM from anyone. And he wouldn't actually be able to get that $424MM, because if he started selling his shares, there would need to be enough people with $424MM more than they had before that want to buy it. At that level of wealth, most of the money doesn't actually exist. It just represents control. It's basically created from nothing.
- crumbshot 6y ago> At that level of wealth, most of the money doesn't actually exist. It just represents control. I agree, and that's part of the problem as well. But also, to use your example of Bezos, he cashes out a few billion dollars of shares per year for his own personal gain. All while Amazon's workers (whose hard work enabled him to do this) are being treated so badly.
- Axsuul 6y agoHe does use some of those billions from stock sells to fund other companies like Blue Origin which does benefit the greater good indirectly.