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Bezos should put his billions in public libraries

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Re: Bezos should put his billions in public libraries

#11
post #8
post #3

Bezos still needs to focus on actually delivering the value that the world has priced into the expectations of his company. He can't just retire and collect income off of an existing machine like Gates.

What does that have to do with his personal wealth? How is Bezos' situation different than Gates? e: to clarify my second question: How is Bezos' situation different than Gates' when Gates left Microsoft .

Because Amazons stock price is valued strongly based on future potential. For Bezos to cash out now and do philanthropy, without a very strong replacement to realize Amazons potential, shares would fall 50% effectively halving Bezos' worth.

Regarding your second question, it is actually a similar scenario to when Gates left Microsoft. Right before Gates left, Microsoft was at one of the highest peak values, $58, almost it's Market cap today if you account for inflation, and a year after Gates left the stock had plummeted to $24 a share. Many would propose that Bezos leaving would actually be more detrimental, as Microsoft at the time was not a growth stock, but a well established money printing machine, while Amazon stock is still banking on future potential.

Re: Bezos should put his billions in public libraries

#12
This is poorly thought out and edited, because I have to run, but I thought it worth posting. I've been thinking more about libraries lately. I really think it is time to reinvigorate and expand them. Pretty sure I'm preaching to the converted here about the power of information; I think what some folks miss is just how incredibly valuable libraries are. No, they aren't a panacea, but they are a cheap source of immense social good.

A lot of people see a building full of books and wonder why it can't be replaced by a bank of terminals and Google. I won't get in to the relative merits of dead trees vs. electrons, and largely don't care about it. What that line of thought misses is two-fold: the librarians and the community space.

Decent librarians are hugely underrated resources. Great ones can be incredible. Maybe natural language systems will become good enough in my lifetime to handle some of the vague requests librarians routinely manage to match to the right book, but the leaps of association to related topics, the knowledge of the edge cases of information classification to navigate them well, and the general mass of knowledge they accumulate is massively useful to have on hand. And so few people take advantage of it.

Meeting spaces in this context (both formal, sign-up-for-your-group and informal) serve an important role as well. It seems[1] like they're becoming rarer as government buildings use security as an excuse to close to the public, and in calling around to private groups with spaces that previously did that sort of thing have been much more reluctant to do so when I've tried to organize things over the last several years.

To personalize this a bit, I grew up in a poor family. One thing that was heavily emphasized to me was the value of learning - I think it was reaction to missed opportunities. Who knows what would have happened, but I do know that my college essays (written referencing library books, building on interests fostered in the math and the American Lit sections) would have been very different without them, and I kinda doubt I would have gotten a free ride to a top-10 school if I had been only drawing on what public school offered.

I'd love to see more experiments with libraries. I know some are playing with becoming more "maker-space"-ey, which is a decent thing to explore. I think finding a way to offer peer-classes in whatever - learn Javascript, fancy knitting techniques - would be an interesting thing to try as well. But I'm bad at seeing opportunities like this. I wonder what people with that super power could come up with.

[1] Anecdata alert!

Re: Bezos should put his billions in public libraries

#13
post #8
post #3

Bezos still needs to focus on actually delivering the value that the world has priced into the expectations of his company. He can't just retire and collect income off of an existing machine like Gates.

What does that have to do with his personal wealth? How is Bezos' situation different than Gates? e: to clarify my second question: How is Bezos' situation different than Gates' when Gates left Microsoft .

Bezos net worth is almost entirely Amazon stock, which is a growth stock.

Gates net worth is almost entirely cash (tens of billions in cash?) and other investments (there's like a holding/investment company that's actually just Gates).

Re: Bezos should put his billions in public libraries

#14
post #8
post #3

Bezos still needs to focus on actually delivering the value that the world has priced into the expectations of his company. He can't just retire and collect income off of an existing machine like Gates.

What does that have to do with his personal wealth? How is Bezos' situation different than Gates? e: to clarify my second question: How is Bezos' situation different than Gates' when Gates left Microsoft .

Amazon stock would plummet if Bezos just upped and left and most of his wealth is tied to the company.

Re: Bezos should put his billions in public libraries

#15
I would much rather billionaire types take on large issues that governments don't want to touch, like space flight or specific diseases in foreign countries, than something already in service like libraries. Maybe I just have a bias due to having a library just up the street from where I live currently, but I have never not had access to an adequate library in my life time, and only see room for marginal diminishing returns in improving them.

Re: Bezos should put his billions in public libraries

#16
Libraries are an excellent place to put some money. They provide learning opportunities, but many also provide resume and job search training, community meeting places, free internet access, and I think is one of the few "neutral" places in American society. Neutral in that there are few, if any politics involved, and it's an equal opportunity benefit to a community that most people can get behind. Even if they don't use the library, few I think would speak against.

Re: Bezos should put his billions in public libraries

#18

I would much rather billionaire types take on large issues that governments don't want to touch, like space flight or specific diseases in foreign countries, than something already in service like libraries. Maybe I just have a bias due to having a library just up the street from where I live currently, but I have never not had access to an adequate library in my life time, and only see room for marginal diminishing…

Visit a library in a low-income area (where people need them the most) and see the kinds of computers people use to hunt for jobs, do their homework, etc. I've been to a library that was running windows 2000 on TWO ancient Dells with with CRT monitors in 2015. And the two computers they had were being used by adults and students. There is so much to be gained from improving libraries.

Re: Bezos should put his billions in public libraries

#19

I would much rather billionaire types take on large issues that governments don't want to touch, like space flight or specific diseases in foreign countries, than something already in service like libraries. Maybe I just have a bias due to having a library just up the street from where I live currently, but I have never not had access to an adequate library in my life time, and only see room for marginal diminishing…

Well, Bezos already invests in space flight, so there's no much point in suggesting that.

The article also claims that libraries are getting defunded, so you may not have your library up the street for much longer.

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