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This whole thing makes me question our economic system. Yes, we want to reward people who create value. If someone invents a fusion power plant or a cure for c
by lordnacho 3y ago
This whole thing makes me question our economic system.
Yes, we want to reward people who create value. If someone invents a fusion power plant or a cure for cancer, they should get a fat payoff.
But this thing, the guy has gotten paid a lot of money for creating no value.
Of course, investment is a game about uncertainties. People paid him out based on projections that turned out not to happen. You buy a thing, it turns out not to work, you are out money. That seems fair enough too.
But somehow it still seems wrong that a guy can sell a thing that turns out to not do anything useful, and get a similar payoff to someone who eg becomes all-time top musician.
The only thing I can think of that might seem relevant here is that there were relatively few people involved in judging whether WeWork was gonna work. The amounts of wealth concentration make this possible.
Contrast that with Taylor Swift, who still needs to spend her time touring to make her money. She's dependent on the decisions of a large number of consumers.