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If billionaires were half as smart as they think they are, we'd all be a lot worse off.
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ieightpi
lemmy.world
ieightpi@lemmy.world
Joined: 2023-06-26
#52 Posted:   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

The latest South Park America episode is about this exactly.

Seriously the timing of this conversation cannot be a coincidence

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Omgpwnies
lemmy.world
Omgpwnies@lemmy.world
Joined: 2023-07-17
#53 Posted:   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

They must be fuming with all the desperate pushing of AI and data centers. Tech in general looks like the titanic except everyone is turning a blind eye to the sinking part.

So exactly like the Titanic until it was too late to ignore.

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adjectivenoun
lemmy.world

adjectivenoun@lemmy.world
Joined: 2026-09-19
#54 Posted:   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

Some gained wealth legitimately Nobody gets truly rich by playing within the rules. Show me a billionaire and I'll show you a list of crimes.

So a lottery winner is guilty of crimes? There are ways to "win the lottery" inside capitalism without breaking any rules. Sure, the amassing of wealth is in itself unethical in a country where many kids can't eat nutritious meals, but you don't necessarily have to be a backstabbing thief to become rich. You can just luck out and have an idea like online banking take off at the same time the technology becomes mature enough for something like online banking to be feasible.

1
myyass
lemmy.world
myyass@lemmy.world
Joined: 2026-09-02
#55 Posted:   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

So exactly like the Titanic until it was too late to ignore.

lol yeah

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UnderpantsWeevil
lemmy.world

UnderpantsWeevil@lemmy.world
Joined: 2023-06-14
#56 Posted:   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

So a lottery winner is guilty of crimes? There are ways to "win the lottery" inside capitalism without breaking any rules. Sure, the amassing of wealth is in itself unethical in a country where many kids can't eat nutritious meals, but you don't necessarily have to be a backstabbing thief to become rich. You can just luck out and have an idea like online banking take off at the same time the te...

So a lottery winner is guilty of crimes?

They're routinely the victims of them. Lottery winners are a scam target rich environment. North of 5% of lottery winners go bankrupt within five years, far above the national average.

You can just luck out and have an idea like online banking take off

Utterly clueless if you believe the advent of online banking was Peter Thiel's idea. I seriously doubt you understand how banks form or function.

2
adjectivenoun
lemmy.world

adjectivenoun@lemmy.world
Joined: 2026-09-19
#57 Posted:   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

So a lottery winner is guilty of crimes? They're routinely the victims of them. Lottery winners are a scam target rich environment. North of 5% of lottery winners go bankrupt within five years, far above the national average. You can just luck out and have an idea like online banking take off Utterly clueless if you believe the advent of online banking was Peter Thiel's idea. I seriously doubt ...

I wasn't using Thiel as an example--at least not on purpose. Take any obvious idea and marry it to a technological revolution, and you'll have a bunch of rich people who got rich mostly by pure luck. Musk is a piece of shit, but the case for Tesla taking off was actually proven by GM's EV1 ~3 years prior. The main reason it didn't take off? Well it was twofold: first, GM was reluctant to commit to EVs because marketing them would make their conventional fuel vehicles look environmentally destructive, and second, the battery technology the EV1 used was nickle metal hydride. Tesla succeeded because it coincided with the proliferation of lithium ion batteries, and in that particular case, I don't think anything unethical happened. If Musk had stopped here we probably wouldn't think of him as an evil piece of shit.

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IronBird
lemmy.world
IronBird@lemmy.world
Joined: 2025-09-06
#58 Posted:   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

The old billionaires must be fuming because so many new billionaires keep popping up. Theirs wealth just doesn't matter anymore

eh, not really how it works. at certain point your wealth is just distributed across the market enough that it goes up with inflation.

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ieightpi
lemmy.world
ieightpi@lemmy.world
Joined: 2023-06-26
#59 Posted:   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

eh, not really how it works. at certain point your wealth is just distributed across the market enough that it goes up with inflation.

But inflation doesn't make money worth more.

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ipkpjersi
lemmy.ml
ipkpjersi@lemmy.ml
Joined: 2023-07-29
#60 Posted:   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

If they were half as smart as they think they are, they would enjoy their lives in luxury and leave the rest of us alone. The smart ones are the ones we have never heard of.

This is actually so true lmao literally South Park even mentioned this recently tbh.

4
IronBird
lemmy.world
IronBird@lemmy.world
Joined: 2025-09-06
#61 Posted: · edited   Subject: Re: If billionaires were half as smart as they think they are... Quote Reply

But inflation doesn't make money worth more.

...sure, but if your money pile (in the form of various core-sector investments/broad market ETF's, which always eventually track inflation), automatically goes up with inflation your not losing anything either.

when your rich, you have to actively go out of your way to lose money. because your $ can make more $ for you than you could ever make actually working.

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