3 ms·
The YC billionaires are part of the same problem and belong to the same class as private equity.
by louwrentius 3y ago
The YC billionaires are part of the same problem and belong to the same class as private equity.
- SkyMarshal 3y agoUnless they're investing in PE then that's not necessarily true. There's a difference between creating wealth via innovation and production, vs extracting wealth. I know everyone wants to hate on billionaires these days, but it's worth keeping mind that the ways in people create wealth and make money are not necessarily equivalent. Some are a non-zero-sum game that create extraordinary social good and lift all ships, some are a zero-sum-game that merely extract wealth from others. Let's try not to throw out the baby with the bathwater.
- louwrentius 3y agoBillionaires should not exist. They are a net-negative for society and a clear symptom that something it profoundly wrong in society, especially with the insane poverty and homelessness in the USA.