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(I see you edited your post to add the last line). Elon is not "ruining his own money". He gained control over large quantities of economic and financial resou
by PaulDavisThe1st 3y ago
(I see you edited your post to add the last line).
Elon is not "ruining his own money". He gained control over large quantities of economic and financial resources, and because of the way our society works, he gets to "ruin" those resources by choosing to direct them to the purchase of an asset followed by its degradation.
But there's an opportunity cost to all that: what might have happened in Elon was not in a position to command the utilization of the wealth that purchased Twitter? What else might that wealth have been used for? What might it have been accomplished?
- jryan49 3y agoYou could make the opposite argument about all the innovations, are and science, rich people have funded throughout history. Like what if Boeing didn't have all that money to dump into airplanes.
- kagakuninja 3y agoTo start with, Boeing benefitted from massive amounts of government contracts during their history, which provided much of the money they "dumped into airplanes". Secondly, we now see a company whose products have severe safety defects due to the influence of cost-cutting managers, more concerned with profits than quality.
- PaulDavisThe1st 3y agoYou are presupposing that such things would not have happened if the resource allocation decisions made by the wealthy had been made via some other (more democratic) means. There's not really much evidence to support that claim (though to be fair, not much evidence to refute it either).
- jryan49 3y agoThat's my point, I don't think it seems to matter very much... Sometimes an individual has a good idea, sometimes we all come up with good ideas...