If we've learned anything from SVB, the crypto craze, how the rich somehow keep falling for ponzi scams, and all the weirdly unsound startups, it's that these d

If we've learned anything from SVB, the crypto craze, how the rich somehow keep falling for ponzi scams, and all the weirdly unsound startups, it's that these deep pocket people are terribly, remarkably, average and their status comes from things unrelated to their merit or prowess. I don't know why this is shocking. Money is a social construct so its allocation is also socially constructed. It is results oriented, but it's a more complicated kind of result than investment ROI. For instance, Michael Spindler and Gil Amelio were paid more for their flopped tenure at Apple than I could ever hope to make. Gil walked away with nearly 8 million his final year after overseeing 708 million in loses. Good gig. Almost every c-level exec I've met at $1 billion+ firms leaves me with the same impression: "a charismatic overconfident idiot" If you want to do things that require capital, knowing how this stuff actually works is required.