Anyone who has a billion dollars either exploited a monopoly that should have been broken up, got inside information unavailable to other investors, bribed some politicians, or inherited the money from their parents (who did one of the above).https://twitter.com/nytimes/status/1093400229955756034 …
If founders end up with, say, 10% of their companies, you're saying any startup worth over $10 billion is a monopoly that should be broken up. Are you sure about that? Some of these companies are less than 10 years old. Are you really advocating breaking up companies that early?
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Yeah but the buck stops there. You’re basically telling the future Innovators “don’t bother you stole it all anyway”. Let’s try it, Zimbabwe, Ukraine, Venezuela, ussr this time must be different
End of conversation
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With all due respect to
@RBReich, that statement may have been true in 20th century America but we can't judge tech companies by that standard. Both Uber and Lyft are worth several billion dollars, it's not as simple as having a monopoly anymore. -
They’re literally a duopoly and still don’t manage to turn a profit
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Why are we so insistent on equating unrealized equity with personal wealth? It's not like all these founders are going around selling billions in company shares & spending it on personal luxury is it? That kind of unrealized wealth isn't even taxed. We must clarify "billion"
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Wonder if there are any similar patterns between the discussion around billionaires and the discussion that must have occurred when millionaires first came into existence.
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He would also claim that JK Rowling's Harry Potter series should be broken up with that thesis.
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He's not arguing anything. The arguement is not even wrong. If a billion people read his article should we break up his viewership audience because other journalist are suffering. In that, they have no readers.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Ability to found and be successful is a rare skill that makes the founding team the "monopoly" of the company. Breaking up early? Hell no. But sharing more equality with the employees, yes. They could be the next wave of founders.
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Essentially, we should discuss the generation of wealth and the distribution of wealth separately. I think
@RBReich is crediting the rapid wealth generation to social production. No market or no skilled workers, there will be no billionaires. - Show replies
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