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Billionaires Build

paulgraham.com

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Re: Billionaires Build

#701

Post by CyberRabbi »

drewrv wrote: post #235

This essay uses a weak straw-man: the only way to become a billionaire is by exploiting people I think the "principle of charity" or "steel-man" criticism of billionaires isn't that every single billionaire is directly exploiting people. It would be closer to something like this: The problem is that our society has feedback loops that make it hard to escape poverty, and feedback loops that let the wealthy amass more…

It’s not hard to escape poverty at all, especially in America. Just requires that you’re willing to pursue a skilled career.

Re: Billionaires Build

#702

Post by bccdee »

WalterBright wrote: post #672
CraigJPerry wrote: post #489

Earlier quoted context omitted.

> I don't see a feedback loop that makes it hard to escape poverty Really? You’re 16 years old, you’ve a high IQ and a passion for programming. Your parents are alcoholics. You don’t have nice clothes. You don’t have perfect manners because it’s just not the world you live in. How do you get to the university admissions interview in the next town? How will you compete against the mannerly, well turned out student wit…

These days, you can start a successful internet business in your basement with just a computer. Nobody has to see you, your clothes, or your bad manners. You don't need a university education, though you can get one for free online as needed.

No, starting a business takes capital. You can build a Django website from your basement for free, but to turn it into a profitable business takes cash.

Re: Billionaires Build

#703

Post by doctor_eval »

WalterBright wrote: post #672
CraigJPerry wrote: post #489

Earlier quoted context omitted.

> I don't see a feedback loop that makes it hard to escape poverty Really? You’re 16 years old, you’ve a high IQ and a passion for programming. Your parents are alcoholics. You don’t have nice clothes. You don’t have perfect manners because it’s just not the world you live in. How do you get to the university admissions interview in the next town? How will you compete against the mannerly, well turned out student wit…

These days, you can start a successful internet business in your basement with just a computer. Nobody has to see you, your clothes, or your bad manners. You don't need a university education, though you can get one for free online as needed.

How the hell are you supposed to learn to code when you’re working 50 hours per week just to make rent and eat? How can you afford to deploy? And how can you market your product if you don’t know how to talk to your audience?

Sure, you will be able to point to many people who have managed to do it. But many, many others have tried and failed - through no fault of their own.

Re: Billionaires Build

#704

Post by whatshisface »

edoceo wrote: post #564
josephg wrote: post #546

Earlier quoted context omitted.

Sure; but this trend doesn’t rely on upbringing alone. The children of two collage graduates have collage graduate genes and a collage graduate upbringing. It’s no surprise they’re (we’re) overrepresented in collages.

Collage(sic) graduate genes? Genes are determined before college. And education doesn't change genes.

The children's genes are a collage of the parent's.

Re: Billionaires Build

#706

Post by bccdee »

CyberRabbi wrote: post #701
drewrv wrote: post #235

This essay uses a weak straw-man: the only way to become a billionaire is by exploiting people I think the "principle of charity" or "steel-man" criticism of billionaires isn't that every single billionaire is directly exploiting people. It would be closer to something like this: The problem is that our society has feedback loops that make it hard to escape poverty, and feedback loops that let the wealthy amass more…

It’s not hard to escape poverty at all, especially in America. Just requires that you’re willing to pursue a skilled career.

You also need to already have the capital to get a skilled education and to support yourself while you do. Or you could assume large amounts of student debt before having a job, gambling on being able to complete your education and get a job before the payments start coming in. There's a student debt crisis for a reason.

And you better not get too ambitious and pursue a degree that's too difficult, or you won't be able to complete your degree and you'll have all the debt but none of the credentials.

Re: Billionaires Build

#707

Post by doctor_eval »

CyberRabbi wrote: post #701
drewrv wrote: post #235

This essay uses a weak straw-man: the only way to become a billionaire is by exploiting people I think the "principle of charity" or "steel-man" criticism of billionaires isn't that every single billionaire is directly exploiting people. It would be closer to something like this: The problem is that our society has feedback loops that make it hard to escape poverty, and feedback loops that let the wealthy amass more…

It’s not hard to escape poverty at all, especially in America. Just requires that you’re willing to pursue a skilled career.

What do you recommend?

And how do you recommend pursuing this skilled career when you don’t even have enough money for food, clothes and shelter?

I mean that’s pretty much a working definition of poverty and I’m really curious how easy you think it is to do when you’re hungry, dirty and tired.

Re: Billionaires Build

#708

Post by refurb »

chillwaves wrote: post #626
refurb wrote: post #493

Earlier quoted context omitted.

Someone else would have taken his place? You mean another billionaire? But the thought experiment is there would be no billionaires.

Why would a billionaire by necessary? As mentioned, there are other vehicles to obtain financing. Secondly, when billionaires disappear, their wealth doesn't disappear with them. Not sure what you are asking.

Because at least for big moonshot ideas, it's much easier for one billionaire to bankroll some crazy idea everyone else thinks is a waste of money.

And even if you could gather the funding, you now have to keep a few dozen investors happy versus just pursuing your idea however you want.

And sure the money doesn't disappear, but would you really expect an Amazon warehouse worker who now makes $70k instead of $35k to be investing in highly risky ventures? I mean, they wouldn't even qualify to invest.

Re: Billionaires Build

#709

Post by nathanvanfleet »

drewrv wrote: post #235

This essay uses a weak straw-man: the only way to become a billionaire is by exploiting people I think the "principle of charity" or "steel-man" criticism of billionaires isn't that every single billionaire is directly exploiting people. It would be closer to something like this: The problem is that our society has feedback loops that make it hard to escape poverty, and feedback loops that let the wealthy amass more…

I think he actually owns real estate companies that do in fact exploit people. It's also interesting to find out that wage theft, the underpayment or nonpayment of wages is actually a huge problem and is pretty much the definition of exploitation (not being paid for work done). Many regular public companies engage in it regularly.

Re: Billionaires Build

#710

Post by refurb »

slumpt_ wrote: post #598
krapp wrote: post #517

Earlier quoted context omitted.

Give the warehouse workers a raise, cut the salaries of the managers and techs making six figures. Problem solved.

I don’t know why you’re being downvoted. This is entirely reasonable. Sensitive tech workers?

Because it's spoken like someone who has never dealt with human resources inside a company. The people making more money have more options - they'll just leave Amazon.

Each role has it's own supply and demand. You can arbitrarily start paying less for a role and not expect there to be a negative impact.

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