this post was submitted on 06 Oct 2024
1463 points (93.7% liked)
Technology
59116 readers
2900 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
No other investor has his track record, or anything close to it, so I really do think it comes down to hard work.
Whether the type of work he did should be compensated as well as it was is certainly a valid discussion to have. That said, he's pretty much the top of his industry and extremely well-respected by his peers, so it makes sense that he has an outsized portion of the wealth of those in his industry. That said, I absolutely agree with Buffett that we should have higher taxes on the wealthy (like Buffett) because that level of wealth concentration doesn't benefit anyone, including the wealthy individual.
What got him to the top of his profession absolutely was hard work. What got him to become one of the richest people in the world was that plus the tax system and other legal structures that reward that work. In other words, "don't hate the player, hate the game."