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> a relative handful of rich people no, not clear at all.. it is a system that filters. "rich people" go broke all the time, Britain too.. There are serious s
by mistrial9 10mo ago
> a relative handful of rich people
no, not clear at all.. it is a system that filters. "rich people" go broke all the time, Britain too.. There are serious structural problems certainly but that does not describe them
- autoexec 10mo agobillionaires only tend to "go broke" when they commit massive amounts of crime, mostly against other rich people.
- lanfeust6 10mo agoDynastic wealth also tends to dissipate significantly in a generation or two, as heirs fail to generate the same level of wealth and just spend it (plus it's divided).
- venturecruelty 10mo agoThanks, I'll pay my rent with this information when I get laid off.
- lanfeust6 10mo agoNot sure what you're trying to say with that non-sequitur.
- SpicyLemonZest 10mo agoI guess I'm not sure where you read a claim that rich people can never go broke into the original comment. They absolutely can. That's why they often - as they seem to have done here - cut side deals to protect their revenue streams at the expense of competition. There's a VP at Walmart who stands to lose a lot of money if people start buying their Pepsi elsewhere, and a VP at Pepsi who stands to lose a lot of money if their products are less visible in the nation's Walmarts, so they've agreed to cooperate and mutually reduce the risk that their orgs perform poorly.