3 ms·
People like Gates, Musk, Buffet are only a side show. They are there because of support from Wall Street. They're new but at the same time indistinct from old m
by coliveira 1y ago
People like Gates, Musk, Buffet are only a side show. They are there because of support from Wall Street. They're new but at the same time indistinct from old money and working for the same goals.
Moreover, a "self-made billionaire" is just a drop on the global pool of wealth. It is even good for capitalism to have these new people as a showcase, so billions will believe they can be the next, when winning the lottery if far more likely.
- nonethewiser 1y agoOK so its not only about luck and existing capital. >Moreover, a "self-made billionaire" is just a drop on the global pool of wealth. We are not talking about the global pool of wealth - we are talking about capitalism which is decidedly smaller. You can take out Putin, Saudi Aramco, etc.
- coliveira 1y ago> we are talking about capitalism which is decidedly smaller not true. The size of the capitalist US economy dwarfs Saudi Arabia and Russia combined.
- nonethewiser 1y agoThat just proves my point harder. Because despite having the smaller, non-capitalist economy, Putin is likely richer than the richest US capitalist. In any case, you should be able to see how its not only about luck and existing capital.