Meh I know this one.
I like, If you earned $2,000 a minute, for every minute of you simply existing you would be a millionaire by halfway through the day, but to be a billionaire it would take you a full year of $2,000 a minute.
To be Jeff Bezos wealthy it would still take you 195 YEARS OF MAKING $2,000 A MINUTE
And how wealthy would he be by then
You could confiscate 99.9% of the wealth of the top 100 richest people in the world, and they would all still be wealthier than 99% of the world's population.
Should be 99.999% and then they'd still have 2.5 million....
100% why it needs to happen.
This ignores a few other components.
People in structures doing actual evil don't need to be rich themselves. They are fine with using their masters' property or power to feed their own ego. And a lot of what happens using those can't be directly controlled by said masters, but is accepted as normal side effect.
Confiscation of wealth is not enough. Borders and passages should be erected again where they have eroded, for individual freedom, including that of speech, individual property rights, and individual responsibility mirroring those. And impediments, like legal formalism, fear of responsibility, and cuckold culture of spectators getting their dopamine dose by reacting to posts in social media instead of action, should be cleared out.
That wealth is a symptom, not the core issue. The core issue is that societies are vulnerable to said cuckoldry.
It's not "capitalism". The way Jeff Bezos accumulated his power has the "capitalism" component much proportionally smaller than that in your honest earnings. "Capitalism" is a (not the worst in existence) system with rules for you, while for Jeff it's a much more general system with no clear rules, the cloak and dagger macchiavellian stuff, the way Soviet elite power dynamics worked.
"BuT hE's WoRtH tHaT mUcH bEcAuSe Of AlL tHe HaRd WoRk He'S bEeN dOiNg!"
You tell that to his delivery drivers who can't even scratch their nose while driving or that 1984-dystopia-esque automated surveillance system he puts in their vehicles flags it as "distracted driving" and punishes them.
Oh and they don't even make enough to raise a family.
There is absolutely no amount of hard work that deserves that much money, absolutely none. You could run a marathon every single day for 50 years and I still wouldn't say you deserved that much money.
Those fucking people man...
Tell me again how these CEOs with multi-million golden parachutes were worth that if they're bailing from a company they failed?
Elon is the prefect example of how little actual work a CEO does.
- CEO of SpaceX - Elon Musk
- Chairman and CTO of Twitter - Elon Musk
- CEO of Telsa - Elon Musk
- President of Musk Foundation - Elon Musk
- CEO of xAI - Elon Musk
What does Elon do all day? Be a piece of a shit on Twitter. If CEO work was so demanding, there would be no way Elon would be the CEO of three different companies, chairman of the Board and CTO of one company, and a president of a "charitable" organization.
Reporting by The New York Times found that in 2022, the Musk Foundation gave away $230 million less than the minimum required by law to maintain tax-deductible status, and that in 2021 and 2022 over half the foundation's funds went to causes connected to Musk, his family, or his businesses.
Because them saying they're "worth" that is just mental gymnastics to make themselves feel better about abusing the position of power to leech as much money from as many people as possible for themselves.
They don’t need to make enough money to raise a family… they don’t get enough time off to do so in the first place.
Not to defend the ultra-rich, but even most CEOs of small, shitty companies will not consider their employees' well-being for one second if they they can the line go up for another half milimeter. It's not helpful to consider just the most extreme cases like Bezos as "bad" and the low-tier ones as "not quite as bad".
Obligatory visualization: https://mkorostoff.github.io/1-pixel-wealth/
And this ... is after his ex-wife took a portion of it?
How do I page right
That meme needs to be updated, it's $11,000 per hour since the birth of Christ now...
He doesnt make that in actual money tho. Rich people's value are vibes based egregors summoned through the stock market. So, in a similar vein, if the stock market crashes and never recovers, he loses most of his money. This is why I propose ripping down Wallstreet to starve the machine.
He'd still have a lot of property to his name, a lot of other assets and stuff that aren't tied to an arbitrary stock market. Even if you crash it, mansions and luxury cars would still be very valuable. He will never not be a billionaire due to that.
That is, unless you redistribute his wealth. Then yeah, he wouldn't be filthy rich anymore.
Very true, but you have to be able to sell those assets to gain from them. If the stock market is erased you can't sell your yacht to another exploiter because their networth is decimated too and they can no longer borrow off anything but physical assets, and now they also have a massive "income" stream that is now down so borrowing is more risky. We coulda had a bad bitch of a society, instead we let the rich turn us all into Mammon zombies.
well it's worse than that becase most of those houses and other assets were bought for the most part from loans taken out at very low interest rates against the stock he has in his company's and other shares in his portfolio . The stocks on whole give better return than that interest rate. So it's free money they can spend an they don't even have to sell their stock and pay taxes on the returns just the dividends at a way lower rate that any working person. the way this is setup it becomes impossible for him to spend money fast enough for him to actually lose more money than he gained.
And the vast amount of web storage customers
Love both of these, but going after the stock market is how you kick billionaires in the balls. Then you redistribute their assets to serve society instead of society serving their assets.
If you can borrow against that at any time you want (read: 90% of billionaires), then you have that money effectively liquid and untaxed.
Then they will take out a bigger loan to pay off the existing loan and as such, pay almost nothing in taxes, the stocks that they borrow against grow faster than the interest on their loans, and they can repeat this process until they die where their debt just gets eaten by taxpayers because they transfer assets at the right time to children and then their estate will pay back the debt after death (just transfer stock ownership to lenders probably)
Even if the stock market crashes during this time, they can declare bankruptcy, free themselves of their debt, and then sell assets and they already have a huge golden elevator ready to bring them back up.
You do not talk about project mayhem
You don't want the stock market destroyed. That is how retirements are funded as well.
You want to restrict ownership of an individual stock. Limit them to 5% or so. Also make every stock have 1 vote, no exceptions.
No, the stock market needs to go. It is the primary vector of mass exploitation and binds us all to these immoral chains. It makes Mr and Mrs Greenbury down the street as complacent in Nestle's filfthy acts as the CEOs themselves, because everyone is drooling for line go up, nothing else. Wealth chasing is the heroin addiction for Mother Terra, and we will chase this dragon until the world is charred.
You wouldn’t even make the top ten richest people in the world list.
4x times as much of what you need for a good life, in a day.
If you can live you life on 42000 I'd be impressed. I assume you mean 4x what you need yearly for a good life, daily? That's more reasonable, but I think you'd still struggle at 42k a year these days.
I think they meant 2e6$
8 / 4 = 2
Workday has ~ 8 hours, 8 * 2 = 16 (million)
Let's assume 45 work years (20 to 65), that's 350k a year.
Scratch that, half of it would be good income.
Yeah because making it isn't only about just waiting for time to pass and money to come it, it is also about compounding.
Still puzzles me why everybody's still shopping at Amazon.
Convenience
Yeah, especially if you don’t have a car. Going across town to buy one little knick knack can be an all day affair, with 2 public transit fares included.
This may explain why Amazon is much more popular in North America than Europe: public transit. So if you want to stick it to Jeff, work for better public transit and more walkable cities!
They're getting worse. Packages are always late, reviews can't be trusted because they are mixed with unrelated products and can be bought anyway. At this point it's momentum that's keeping people there.
They're top on my list of companies I don't cater to:
Amazon Walmart Chick-fil-A Temu and those like them
I'm addition to convenience Amazon has just killed off a lot of retail options. The only competitor left with brick and mortar is Walmart and somewhat best buy for electronics. Very hard to find those small specialty stores nowadays for little random things unless you live in a big metropolitan area. Even stores like Walmart now will have the same products by a million different brands instead of having an actual variety of products.
If you spent some of that time a little too close to a black hole you might have a chance though! Obviously you just wouldn't be working hard enough!
I would simply invest a small amount of money into all of the fastest growing equities every day for the next 20 years. Alternatively, I'd just get the NSA to pay me $600M/year for access to some servers that cost me around $50M/year to operate.
I would have told her that attractiveness can't make up for a lack of personality, but that Ola guy ain't wrong either.
I would like to think I would be able to catch up with that kind of income, my apparent immortality, and smart investing, compounding over so many centuries. I’m curious what all currencies and cultures I have had to endure and how the exchange rate of my income is worked it and what currency I will be operating under after the US dollar.
