> Because they take on significant risks, investors expect to get “VIP” head-of-line privileges to be paid upon a liquidation event such as an acquisition. I’d

> Because they take on significant risks, investors expect to get “VIP” head-of-line privileges to be paid upon a liquidation event such as an acquisition. I’d like to challenge this notion. Risk comes from one factor and one factor only: how much skin do you have in the game? Skin isn’t money. Skin is how much are you in for. How much would this hurt if you lost. The ultra rich, when investing, have actually very little skin in the game. A million here, a million there. What’s the difference? They’ll still be impossibly wealthy even if everything goes tits up. Those folks should not make the big bucks in a deal. They haven’t risked anything, even some notion that they “risked” investing their money in this vs that: they picked the winner in this case. It’s fanciful thinking I know, but I see it as _the primary_ problem with either capitalism, or ultra wealth. The system favors people with the most money, and the people with the most money control the system.