5 ms·
This is the most fundamental tenant of capitalism. The output is perpetually distributed according to initial risk taken, not according to amount of day-to-day
by sytelus 4y ago
This is the most fundamental tenant of capitalism. The output is perpetually distributed according to initial risk taken, not according to amount of day-to-day work performed. The property of capital is that it keeps growing (more or less) effortlessly. So you just need to capture initial capital and pay employees only returns from capital, not the capital itself. Fun fact: Bill Gates has made vastly more money just sitting around in his "retirement" than working his ass off for 30 years in Microsoft every day.
- wly_cdgr 4y agoWhat risk did he take, gimme a fucking break. Worst possible outcome for him was he has to settle for a $400k job at a FAANG after his startup fails. Boo fuckin hoo Of course he did enough to deserve some fuck you money, but hundreds of millions? Slap yourself, fool, cos you dreaming
- indecisive_user 4y agoThe risk was in the opportunity cost. How much was he making in the first ~9 years pre IPO? As you said he could have made a comfortable salary working 40hrs/week at many other companies but likely took a significant pay cut for many years to found a startup. Coinbase was valued at 86B a year ago, so hundreds of millions would have been ~.2% of that valuation.
- sytelus 4y agoYou didn't do it because you didn't took risk in crypto.
- samhw 4y agoThe most fundamental tenet of capitalism. Capitalism's most fundamental tenant, on the other hand, is probably Starbucks.