Earlier quoted context omitted.
What’s true on average might not be true for certain individuals, and power-law mechanics might make those individuals more significant than everyone else who makes up the average. Like imagine Elon Musk works 80 hours a week and he doesn’t suffer any negative consequence, he just becomes the most productive human ever according to the market. And then a bunch of other people work 80 hours and they do suffer burnout…
Isn't there a sweet spot though? As Elon, by virtue of his massive wealth now, is depriving an ungodly amount of people of financial resources and opportunities. I mean on that scale I venture to say it's like a Usain Bolt sucking up nearly all the sponsoring for 100m sprinting so there are very few left to even challenge him in a professional sense which makes him even more "valuable". [Of course in this analogy (ac…
That doesn’t make any sense at all. His wealth isn’t made up of financial resources and opportunities that other people could have used - his wealth is the price that other people would be willing to pay him to own shares in the companies he created.
I think it’s a common misconception out there that paper billionaires like Elon and Jeff Bezos have like a giant pile of cans of food in a warehouse somewhere that they could give out to people but don’t because they like having the biggest pile.
That’s not really the case.