This is a bait folks!
this post was submitted on 05 Dec 2024
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I think it’s fair; hold no grudge. Happy to go into the reasons if anyone’s curious.
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I have no problems with billionaires, in a society where everyone's a millionaire.
A society that allows for such wealth disparity to happen is deeply corrupt. Anyone who not only participates in that society, but voluntarily becomes the cause of such disparity is irreparably morally bankrupt. They are a burden on society, contributing millions of times less than what they take.
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Conflicted. I'll give you my top 4 considerations.
- Pro 1: The reason a lot of these folks become billionaires is because they are able to sell an idea and execute on it. I think that's admirable. I think it's aspirational. I think that is part of the human condition.
- Pro 2: Additionally, they're billionaires because society made them billionaires. Often, they founded a company (or got in on the ground floor), then issued stock to investors. More and more investor's piled on. It's a bit like winning the lottery, only that you (the aspirational billionaire) have some effect in the outcome. Again, I think this is part of the human condition. Civilizations, tribes, companies, whatever you call them, for some bizarre reason that I personally don't quite grasp, prefer to have a leader, or at least will defer to one.
- Con 1: Many people can be millionaires. It's not easy, but with the right vision, gumption, financial know-how, time and a bit of luck, someone pursuing this effort can do so. But, it takes a certain kind of person to be a 100+ millionaire or even billionaire. I think we have enough historical evidence of the type I'm describing - greedy, predatory, manipulative, aggressive, sociopathic. These traits can flourish in business, but I don't think that these are traits that we should encourage in society as a whole. It gives me some gratitude that, for every 1 megalomaniacal billionaire in the world, there were 1000s of lookalikes who flailed.
- Con 2: Rent-seeking behavior and loot dragons. Nothing pisses me off more than a self-entitled dumbass whose entire being is resting on the laurels of a family legacy. I think once the great person's first generation passes, that most of their remaining horde should be returned for the public good. While I do think a certain amount should be endowed to the next generation so that they are equipped to pursue their own marvel, I do think society resources made these people and society should be able to take them back.