A bias against wealth?

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There are surprisingly few threads about income inequality here. I found an old one and couldn’t read the whole thing. Too upsetting. Don’t want to re-hash, I’ll just hope some people have changed their minds. Plus, it’s a bit sad - I kinda miss Graeme around here. He was a very intelligent person even though we bickered once in awhile.

Landed on this thread to post this. There is no way Musk ‘earned’ a trillion dollars. I don’t care what gadgets he invented. It’s so wrong. Multibillionaires are holding up the entire planet and I don’t believe they are more deserving humans than anyone else. No human deserves to struggle while he has that much. Now he wants to be the first trillionaire - just to say he did, while the world burns?

www.theatlantic.com

The People Who Will Determine Whether Musk Becomes a Trillionaire

This week’s Tesla shareholder vote could give the world’s richest man more money and more control.
www.theatlantic.com www.theatlantic.com
 
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Kimmio Laughterlove said:
I’m reading my own posts like they're from someone else, thinking, “wow that person sounds intelligent, I totally agree with what they’re saying” lol…weird.
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An out of body experience when you look at yourself from the excluded soul of being! The soul, self or any other kind of sophisticated mental device is condemned by those of vast emotional drive ... this drive some things down subtly!

The ultimate situation of thought ... to be writ ... for folk will not accept it!
 
I am always a bit naïve but....I don't understand how anyone can spend that much money. I have a modest retiree income but still feel a little guilty that I have 'so much' compared to the bulk of the world. So my husband and I donate regularly to a few different charities. I wonder if Musk donates out of anything other than wanting recognition or a tax write-off.
 
Nancy said:
I am always a bit naïve but....I don't understand how anyone can spend that much money. I have a modest retiree income but still feel a little guilty that I have 'so much' compared to the bulk of the world. So my husband and I donate regularly to a few different charities. I wonder if Musk donates out of anything other than wanting recognition or a tax write-off.
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They can’t spend that much money. It’s not possible! I think it was @Pavlos Maros who worked out that if Musk paid himself a comfortable several million a year income - if it were possible to spend it backwards in time it would last into the Stone Age. Maybe it was even the Ice Age. He has a dinosaur grade greedy brain so I guess that explains it.
 
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I just inquired and AI calculated that if he could pay himself backwards in time $4M a year from his net worth right now, he’d run out in 57777 BC. That’s worse than obscene, it’s plain evil.
 
In 2024, total health and welfare spending in Canada was $449B. That’s for every citizen and resident of Canada. 41.5 million people.

Musk (who is also a Canadian citizen) has a personal net worth of $500B (just one person!) and he’s asking his shareholders to up his value to trillionaire! I don’t quite understand how they can do that - nevertheless, it’s a thing.

It’s pretty clear society has had its priorities wrong.
 
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It is why wealthy powers cannot go back ... they lost it as the flood of money carried them forward in time ... like flames!
 
Share holders in a multibillion dollar company can just decide on the value?…that’s like some kind of evil alternate universe co-op! I don’t understand how big money like that works. Seems arbitrary and, needless to say, unnecessary.
 
Monet, or money is an occult symbol ... with a bunch one forgets to worry about things ... and alternate things also!

Such is a dark matter of ... somaticize! Thus it rests ...

Here you might notice some folk blow it ...
 
Kimmio Laughterlove said:
Share holders in a multibillion dollar company can just decide on the value?…that’s like some kind of evil alternate universe co-op! I don’t understand how big money like that works. Seems arbitrary and, needless to say, unnecessary.
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In the stock market system of corporate ownership, there's a number of measures of a company's value but the one that tends to matter is its market capitalization which is based on its share value which is determined by what people are willing to pay for its stock. Things like profits, revenues, and so on do matter but so do things like public image. So, yeah, shareholders ultimately determine the value of the company.

It gets more complicated when it's a company entering the market for the first time with an IPO (Initial Public Offering), as OpenAI will probably do later next year. Then there is an initial estimate of it is worth that determines the share value on issue, but that can change rapidly depending on how the shares trade once they are in the open. Sometimes a company overvalues itself and shares bomb in early trading. Sometimes it undervalues itself and they rocket up. Sometimes they nail it. Even with a privately-held company, a lot of its market cap is dictated by how venture capital and other potential investors see the company and those are effectively the shareholders.

For a company like the one I work for, which is privately held by a family, then that valuation is more dependent on what the stakeholders see as important. In our case, the family's values, including a strong focus on the needs of patients and healthcare professionals, dictate a lot of how we value the companies in the group.

(Disclaimer: I am not an investment professional nor do I play one on TV. I'm just a guy who manages his own portfolio and watches the markets from that perspective.)
 
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As for the Musk thing, I fail to see how he is worth that much to the company. His antics have done them as much harm as good over the past couple years and his focus keeps jumping from project to project. He apparently spends most of his time and energy at xAI, the AI company he spun off from the former Twitter, even meeting with Tesla teams at the xAI offices. I realize this is designed to try to pull his focus back to Tesla. Given his personality, though, I don't see that working. They would be better to force him into a board role and put another person with a laser focus on the business in the CEO chair, probably someone with some auto industry background rather than tech.
 
Mendalla said:
As for the Musk thing, I fail to see how he is worth that much to the company. His antics have done them as much harm as good over the past couple years and his focus keeps jumping from project to project. He apparently spends most of his time and energy at xAI, the AI company he spun off from the former Twitter, even meeting with Tesla teams at the xAI offices. I realize this is designed to try to pull his focus back to Tesla. Given his personality, though, I don't see that working. They would be better to force him into a board role and put another person with a laser focus on the business in the CEO chair, probably someone with some auto industry background rather than tech.
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This takes me back to somatic vs semitic ... where the body goes up against a word!

In dysnomia it is sometimes said that not knowing the "word" is criminal, wrong or illicit ... explaining in part why powers despise to see their slaves literate so thus the word goth (Goethe) i.e. departs and we are left wordless in the end as if our breath was taken away by some light occasion!

It may happen in a flash ... folk do despise words blowing by like that ... and all too difficult to recall what it meant!

Thus word is the thing ... one should pick-up on the concept! I expect that Muk is somewhat like Trump ... una-WOKE or maybe suffering somatic psychology ... it sleeps! In that state it can blame all the rest (remnant) for the damages ... "I knew nothing about it" thus that bubble!
 
I'm not a fan of monopolies that dominate economies and thus people. They shouldn't be allowed IMO.
 
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