One of the problems with having very wealthy people is that often they have no idea what they should do with their money.
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We focus a lot on the conman who runs the terrible investment bubble, scheme, rug pull, paying dividends with capital or whatever venture. But not as much on the rich guy who quietly shows up and puts in the first big pile of cash.
But that choice to invest big in a bad idea has consequences for everyone!
@futurebird Are they not part of the scam? They know they're not likely to be left without a chair when the music stops.
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@futurebird Are they not part of the scam? They know they're not likely to be left without a chair when the music stops.
Sometimes they make out with a lot of money, other times they seem to lose out with everyone else.
No honor among thieves I suppose.
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Some libertarians have objected to this on grounds that it's saying that no one is special enough or smart enough to undertake "big projects" -- they claim that this kind of thinking will stifle human creativity and innovation.
They used to say "how would you have someone like Elon Musk or Sam Bank-Altman?" (don't say this anymore for some reason)
But to that I say? If you have a good idea get some people together and make it happen together!
@futurebird @jadp @crmsnbleyd (I think you combined Sam Altman and Sam bankman-Fried)
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@futurebird @jadp @crmsnbleyd (I think you combined Sam Altman and Sam bankman-Fried)
Oooh oh how could I make such an error. They are totally different guys.
