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Bill Gates pledged the same and yet his wealth hasn't reduced. Worse, the philanthropy has been targetted ideologically (like encouraging private schools) and somehow keeps ending up favouring companies he has ownership in.
What does that mean his wealth hasn't reduced? Any money that he's given away (and he's given away a lot) has reduced his wealth. He'd be worth more if hadn't given it away.
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Have you just swallowed the idea that the market value of something is equal to its value to society?
I guess I would like to hear your justification that billionaire’s deserve their wealth, bearing in mind that this typically does come at the expense of others.
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The global income distribution model (farmers in India -> Jeff Bezos) is problematic. But it's such a chaotic system that anyone claiming to have the solution (similar to anyone claiming there is no problem) is likely lying. The only solution (to me) that even starts to make sense is some sort of forced worker ownership, but lord knows what the details of that might look like.
Needs to be opt-in.
The next wave of famous business people will likely be the Platform Coop-ists.
Activists building unicorns not for the $$$ but for the Klout of taking on the status quo model.
Is it a pledge? Or an Amber Heard pledge? I feel like we're seeing the Michael Scott version of declaring bankruptcy here. I'll believe it when I see it.
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That's cuz saying you want to give it away is not a simple thing, when most people around you only have the skills to accumulate it or spend it on themselves. Not to mention all the pond scum it draws in that has to be constantly filtered out.
The people who have the skills to accumulate wealth at this scale don’t have the skills to give it away. They are extraction minded, and philanthropy is a direct contradiction to this mental model. Keep some to stay comfortable of course, but you have to be comfortable with your status, influence, and wealth substantially declining as a second order effect of the distribution logistics, and that’s just not who these…
To be fair, neither can Bill Gates.
So it points to something fundamental about the way in which wealth works that these people can't give money away fast enough. Doesn't mean it's a problem though. Having money flowing up to Gates, Bezos, Scott and then having them give it away is probably the best we can do in the current legal and regulatory environment. Because the reality is that any efforts to change how things currently work would meet with too much resistance from others in power.
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The people who have the skills to accumulate wealth at this scale don’t have the skills to give it away. They are extraction minded, and philanthropy is a direct contradiction to this mental model. Keep some to stay comfortable of course, but you have to be comfortable with your status, influence, and wealth substantially declining as a second order effect of the distribution logistics, and that’s just not who these…
MacKenzie Scott can’t give her wealth away fast enough, for example To be fair, neither can Bill Gates. So it points to something fundamental about the way in which wealth works that these people can't give money away fast enough. Doesn't mean it's a problem though. Having money flowing up to Gates, Bezos, Scott and then having them give it away is probably the best we can do in the current legal and regulatory envir…
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Once they pass on? There should be massive impediments to passing on that level of wealth.
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Is it a pledge? Or an Amber Heard pledge? I feel like we're seeing the Michael Scott version of declaring bankruptcy here. I'll believe it when I see it.
More like when Michael Scott promised to pay for the scholarships, haha
Bill Gates pledged the same and yet his wealth hasn't reduced. Worse, the philanthropy has been targetted ideologically (like encouraging private schools) and somehow keeps ending up favouring companies he has ownership in.