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There's a really obvious difference between those two things: every cent of the union's funds is actual money that is taken out of employees' paychecks and come

by makomk 5y ago

There's a really obvious difference between those two things: every cent of the union's funds is actual money that is taken out of employees' paychecks and comes right out their pockets, whereas Bezos' net worth isn't. Like, not only does it not come out of employee's pay even indirectly, it's not even money - it's just shares held times the last price a single share traded at. It may be measured in the same units as actual money like paychecks and spending, but it's not and cannot be used as such. Bluntly, all the populist activists and politicans who spin Bezos' wealth as actual cash that could be spent on things like food and healthcare if he stopped hoarding it are conning people by taking advantage of their desire to have someone to blame.

woodruffw 5y ago
Bezos's money might not be cash, but it's still relatively liquid: he owns about 10% of Amazon's shares, and could liquidate a very small percentage of that to generate billions of dollars of cash on hand. And, as a matter of fact, that's precisely what he's being doing[1]. [1]: https://www.forbes.com/sites/kerryadolan/2021/11/04/jeff-bezos-just-sold-2-billion-worth-of-amazon-stock/ https://www.forbes.com/sites/kerryadolan/2021/11/04/jeff-bez...
quitit 5y ago
These discussions neglect a few things: JB has enormous net worth outside of public shares. Including over 16B in cash. https://www.bloomberg.com/billionaires/profiles/jeffrey-p-bezos/ https://www.bloomberg.com/billionaires/profiles/jeffrey-p-be... To the discussion of public shares: Yes he couldn’t cash out all 177B for cash, however a significantly large portion (i.e many billions) can be over a relatively short span of time, additionally shares still possess a barter-like function. These are not small numbers and indeed such sums could be used to resolve some pretty significant issues (see Bill Gates who is in a similar public-share-wealthy position.) As for taking part of their pay for union fees. This is like trying to save on toothpaste: The small cost of union fees will deliver benefits for these employees that would easily outstrip contribution costs. Such an argument would only be valid for employees that already have good pay and benefits/ where a union wouldn’t be able to deliver significant change.
Devasta 5y ago
" it's not even money - it's just shares held times the last price a single share traded at." Bezos cries, as I wave a tenner in his face and say, mockingly: "You don't have any money, its all in stocks! You're as poor as I am!"

by makomk 5y ago

woodruffw 5y ago

Bezos's money might not be cash, but it's still relatively liquid: he owns about 10% of Amazon's shares, and could liquidate a very small percentage of that to generate billions of dollars of cash on hand. And, as a matter of fact, that's precisely what he's being doing[1]. [1]: https://www.forbes.com/sites/kerryadolan/2021/11/04/jeff-bezos-just-sold-2-billion-worth-of-amazon-stock/ https://www.forbes.com/sites/kerryadolan/2021/11/04/jeff-bez...

quitit 5y ago

These discussions neglect a few things: JB has enormous net worth outside of public shares. Including over 16B in cash. https://www.bloomberg.com/billionaires/profiles/jeffrey-p-bezos/ https://www.bloomberg.com/billionaires/profiles/jeffrey-p-be... To the discussion of public shares: Yes he couldn’t cash out all 177B for cash, however a significantly large portion (i.e many billions) can be over a relatively short span of time, additionally shares still possess a barter-like function. These are not small numbers and indeed such sums could be used to resolve some pretty significant issues (see Bill Gates who is in a similar public-share-wealthy position.) As for taking part of their pay for union fees. This is like trying to save on toothpaste: The small cost of union fees will deliver benefits for these employees that would easily outstrip contribution costs. Such an argument would only be valid for employees that already have good pay and benefits/ where a union wouldn’t be able to deliver significant change.

Devasta 5y ago

" it's not even money - it's just shares held times the last price a single share traded at." Bezos cries, as I wave a tenner in his face and say, mockingly: "You don't have any money, its all in stocks! You're as poor as I am!"