4 ms·

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 million

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

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.