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I agree with @DanRiffle on this. Billionaires are a function of political capture of a market or series of markets, not productive enterprise. https://mattstoller.substack.com/p/what-is-a-billionaire … https://twitter.com/DanRiffle/status/1193162131216187393 …
I'm not sure about this. Isn't it more a function of declining marginal cost businesses (software, IP, etc.) and a massively expanded global market (free trade)? Let's take AWS for example—how does political capture play into it?
True, access to cheap capital, but this could also be said for most of the other major cloud providers like Microsoft, Google, Oracle, etc.—none of which stopped another round of smaller competitors (MongoDB, etc.) from successfully entering the market and going public.
No, ip is a political choice. So are global trading arrangements. And corporate charters.
Interesting, I see this perspective. Appreciate the thoughtful reply. Keep up the good work.
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