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Yes. He does not have $100 billion liquid. He would have to liquidate his ownership in spacex and tesla. Losing control of the companies. So yes I think he wou

Yes. He does not have $100 billion liquid. He would have to liquidate his ownership in spacex and tesla. Losing control of the companies. So yes I think he would be forced to stop doing his thing as he would no longer control the companies. It has nothing to do with comfort, dude lives in a 200 SqFt fabricated house or sleeps at work.

wing-_-nuts 3y ago
I'm sure if we implemented this, we could make accommodations such as making it possible to transfer share ownership 'in kind' and stripping voting rights from those shares. Musk would still be able to do his thing, the government would have a boatload more revenue to work with. Now, some might make the argument that without the possibility of becoming a multi billionaire some might not be motivated to start or run a business. That, I think would be a small enough loss to be worthwhile
- wonderwonder 3y ago
  Would it? Imagine every private company of a certain size just ceasing to exist as soon as its owner reaches a set net worth. What happens to all of the millions of jobs that exist at those companies? Companies would essentially go public and then all leadership would quit immediately. Why work for free?
  - wing-_-nuts 3y ago
    Why would the companies cease to exist? Why would leadership quit simply because they could no longer be multi-billionaires. I've always seen this as a very weak argument. With future automation we will have to figure out some form of collective ownership and dispersal of profits.
    - wonderwonder 3y ago
      lets say you are allowed a max net worth of 1 million. You hit it. Why would you keep working? You are now working for free. Every extra dollar you get is taken from you. Why do anything, shut the company down and leave, its not your responsibility any more
      - JoeAltmaier 3y ago
        For a paycheck.
      - wing-_-nuts 3y ago
        1M isn't what we're discussing here. It's 1B. Let's not strawman this discussion.
        wonderwonder 3y ago
        even better, 1B, I painted myself in a corner with such a low number. So they will never have to work again, 1m they may have had to. I now have 1B. Why would i keep working? I would send a company wide email say hey guys I'm done. Good luck and shut it down. Why do anything else? You may argue there are reasons but they are all emotional / moral ones, not based on finance. I've peaked, going to go spend my life doing whatever I want, why incur the stress of anything else? Not to mention all the ancillary jobs that are going to be lost. Boat builders, private aircraft manufacturers, etc.
        wing-_-nuts 3y ago
        No judgements on you, but frankly you're not the sort of person who builds a billion dollar company to begin with. Neither am I. I know damned well we'd both cash in our chips after 10s of millions and ride off into the sunset. Those who build billion dollar companies do so for more than money.
        fragmede 3y ago
        If you had an 61% stake of a billion-dollar company, sell off 10% for your $10 million and keep running it.

wing-_-nuts 3y ago

I'm sure if we implemented this, we could make accommodations such as making it possible to transfer share ownership 'in kind' and stripping voting rights from those shares. Musk would still be able to do his thing, the government would have a boatload more revenue to work with. Now, some might make the argument that without the possibility of becoming a multi billionaire some might not be motivated to start or run a business. That, I think would be a small enough loss to be worthwhile

wonderwonder 3y ago
Would it? Imagine every private company of a certain size just ceasing to exist as soon as its owner reaches a set net worth. What happens to all of the millions of jobs that exist at those companies? Companies would essentially go public and then all leadership would quit immediately. Why work for free?
- wing-_-nuts 3y ago
  Why would the companies cease to exist? Why would leadership quit simply because they could no longer be multi-billionaires. I've always seen this as a very weak argument. With future automation we will have to figure out some form of collective ownership and dispersal of profits.
  - wonderwonder 3y ago
    lets say you are allowed a max net worth of 1 million. You hit it. Why would you keep working? You are now working for free. Every extra dollar you get is taken from you. Why do anything, shut the company down and leave, its not your responsibility any more
    - JoeAltmaier 3y ago
      For a paycheck.
    - wing-_-nuts 3y ago
      1M isn't what we're discussing here. It's 1B. Let's not strawman this discussion.
      - wonderwonder 3y ago
        even better, 1B, I painted myself in a corner with such a low number. So they will never have to work again, 1m they may have had to. I now have 1B. Why would i keep working? I would send a company wide email say hey guys I'm done. Good luck and shut it down. Why do anything else? You may argue there are reasons but they are all emotional / moral ones, not based on finance. I've peaked, going to go spend my life doing whatever I want, why incur the stress of anything else? Not to mention all the ancillary jobs that are going to be lost. Boat builders, private aircraft manufacturers, etc.
        wing-_-nuts 3y ago
        No judgements on you, but frankly you're not the sort of person who builds a billion dollar company to begin with. Neither am I. I know damned well we'd both cash in our chips after 10s of millions and ride off into the sunset. Those who build billion dollar companies do so for more than money.
        fragmede 3y ago
        If you had an 61% stake of a billion-dollar company, sell off 10% for your $10 million and keep running it.