A staggering calculation of the $47T cumulative wealth transfer from the bottom of the income distribution to the top over the past forty years.https://bit.ly/3u9F90p
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I don't think it's easier to start a company that grows fast and is profitable. Very few seem to be able to pull that off. What has changed is the ability of people who grow big companies that have no business model to walk away with large amounts of money. That's the change.
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Whether you’re right or not, it doesn’t feel useful to deny the qualitative increase in inequality in recent decades, nor that it represents a serious policy challenge.
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Picking the high-end outliers doesn’t make for a very strong argument. And revenue alone doesn’t count. Earnings matter. Vast majority of IPOs over the past decade have been for profitless companies. That’s unearned wealth, extracted thru financial engineering
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Interesting conversation. Any chance you might do a live stream audio conversation? $5 admision with procedes going to 5-10 charities? *Thank you.
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