[ExI] The INCREDIBLE acceleration of the wealth gap
spike66 at att.net
Tue Jan 17 03:02:02 UTC 2017
From: extropy-chat [mailto:extropy-chat-bounces at lists.extropy.org] On Behalf Of William Flynn Wallace
Sent: Monday, January 16, 2017 5:59 PM
To: ExI chat list <extropy-chat at lists.extropy.org>
Subject: Re: [ExI] The INCREDIBLE acceleration of the wealth gap
>…I've read of rich men, and many of them are workaholics who abandon their families, work every day, often late. They became successful in business or investment, and just kept their plans going and going and going. Why quit? They are invested in or own companies who produce goods and/or services people are buying…
Ja there is that. But think about it another way too. Plenty of us have worked in a company for a number of years and know that after a certain age a worker generally isn’t mobile. If your company declines and they lose their position, it can be ruinous as all hell for that worker and that worker’s family. Many of them will never find a decent landing spot. With that, imagine a top-notch employee comes up thru the ranks and ends up at the top. Good chance she got there by working her ass off, showing up early every day, staying late and so on, knows a lot of people personally in the company. She knows she has to keep the profit coming, not just for her own enjoyment but to keep that company in business for a crowd of people who are functionally her dependents. Don’t laugh this off: CEOs are generally not hard-hearted sorts, but they are hard-drivers.
>…They buy up unsuccessful companies and turn them around (or sell off the parts). This is a good thing…
Sure it is. A company has to be profitable to stay in business, employ people and create wealth. A poorly managed company will have acquired a bunch of ill-fitting pieces that don’t work well together. But plenty of those pieces are good solid smaller companies, potentially profitable, healthy. So, buy the whole mess, cut it up and sell the parts you don’t need or can’t use, reorganize what is left. Result: better stronger companies.
>…Some of them, like Buffett, seem not to even care about their money - it's a game to them…
Well sure it is. I can show you good examples of it, CEOs who don’t really give a damn about their money, they have enough. They get into the whole business game, play it like a giant chessboard, use it like a personal hobby. That kind of attitude is very common at the top of all successful companies. The office becomes their home, the top brass their family.
>…Perhaps they think that investing in a good company is supporting the American Way…
Ja! If they do well, the company does well, the families do well, morale is great, fun company picnics, all of it. Corporate life can be really a lotta fun, educational, exciting, rewarding. I have no regrets about the 26 years I spent in that game. Didn’t get rich, made a good living, learned a lot, enjoyed many happy times and made enduring friendships.
>…So please defend your definitions of greed. Show how this money is wrong and the person is sinfully motivated. Note that Buffett and Gates, for two, have challenged others to donate billions to charity (I just don't know much about the others)…bill w
Ja, and consider Gates. He has no known political aspirations (although it isn’t a bit clear to me why not) and it isn’t even clear which party he is in. Why the heck not put a guy like him running for the top office? Hell he could have chosen either party and won this time, either party! He has demonstrated he can run a big empire. We would be damn happy to have him considering the alternatives.
We now have Peter Thiel talking about running for governor of California. I will vote for that guy early and often. I will get on the phone for him, plant a sign in my front yard. He can’t be president, but I think he would make fine governator. I would vote for Bill Gates too if we can get him to run.
Rich people are our friends.
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