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This seems to contradict his analogy between 2020 to, say, 1890. Instead of a bunch of people starting small local businesses and gaining moderate wealth, we ha
by bo1024 6y ago
This seems to contradict his analogy between 2020 to, say, 1890. Instead of a bunch of people starting small local businesses and gaining moderate wealth, we have winner-take-all dynamics.
- WalterBright 6y ago> winner-take-all You can buy stock in winning companies and get your share of the winnings.
- harimau777 6y agoThat's only the case if you can afford to buy the stock (and more specifically afford to buy enough of the stock to make a difference).
- dlp211 6y agoNot to mention that you miss out on one of the bigger wealth building opportunities, the IPO. While not true for every company, tech IPOs have been gangbusters as of late. I would have loved to invest in AirBnb at their last evaluation before IPO. But that is only available to the truly wealthy.
- WalterBright 6y agoTake a look at what you'd have today if you bought AMZN the day after it started trading (it doubled on the first day). Didn't buy it because you couldn't afford to buy enough to make a difference? You lost big time! Unhappy about Bezos' compensation? He was there on Day 1. He bet the farm on AMZN. You didn't.
- dlp211 6y agoWay to miss the point.
- WalterBright 6y agoAnyone can buy stock. You can invest for as little as $10 and buy fractional shares for zero commission. > afford to buy enough of the stock to make a difference Having that mentality will guarantee one never gets ahead. CEOs don't start at the top, either.
- harimau777 6y agoWhat I mean buy "enough to make a difference" is enough to offset the increase in the increasingly unequal distribution of your company's profits.