Him and people like him who hoard wealth are the reason we have poverty. You dkt make a billion dollars without exploiting every possible resource and person you can along the way.
Define better. Psychophats are tend to have more success and higher paying jobs. Are they better than the average joe? If lack of empathy and remorse makes humans better why didn't evolution do its thing?
Better defined to me in this circumstance? The quality of being a good swimmer in rough seas. Those humans which can adapt the most. You cant ask for a definition and then use it in a question like that, it doesn’t make sense. Thats like programming with values that are not set.
So you think the Norman Bates and Batemans of the world are “adaptable”? What data supports this? Even when the media that portrays them shows an ending with self destruction? I would not call a person with a lack of empathy, or most mental illnesses, adaptable. Willing to show remorse and cruelty is essential to healthy people and populations.
Most “psychopaths” are in fact in jail or on the streets, not yuppies btw.
You seem to have very strong views of the term psychopath, which is not a real term used by any organization. The DSM definitions change all the time.
There it is. The real point you clown asses are dancing around but this one is too dumb to not spew it out. "There will always be poors because being poor is a function of being inferior."
Meritocracy is a lie you've been spoon fed since childhood, work hard = make lots of money. All those billionaires just worked extra harder than you, so therefore, like, if they're making millions more than me its just because they worked millions times harder and I just need to hustle which will obviously happen for me one day.
It is also this dipshit take that racists love to eat up, "well yea blacks and mexicans are typically poor, they're simply inferior to whites, that's why whites make all the money" - Rufus from his trailer park home living off welfare.
Hard work is realistically like 10% of the reason behind success, it's almost entirely luck, lucky to be born in a first world nation, lucky to be born to previously successful parents, lucky to then use that success from the parents to enter good schools, make connections to other lucky people. It all builds on itself, that's the whole idea behind privilege, some people get born on Third and think they made a triple, then gloat as they trot to home base mocking and chastising those struggling to even make it to first with anchors on tied to their ankles.
The sad reality is that wealth inequality is part of human nature. Name one period in history where someone didn't have more than the others and vehemently defended it, even monkeys do this.
If we all recognize this is a flaw why make a system of society that rewards this bad behavior instead of correcting for it to make life better in spite of human nature
So stop trying to make the world a better place and let our future generations suffer becouse we cant figure out a way to make it so one guy cant own everything?
We can fucking fly and go to the god damned moon. I can instantly talk to any person anywhere on the globe and the technology allows me to bridge the language barrier. Humans have never accepted "it cant be done" as acceptable... unless its removing exploitation from a system. Then nothing can be done
You're regarded if you don't understand how pricing power parity works. It's not how much the pie cost, it's how much that cost in relation to an hours work
We also didn't have extremely efficient food chain supplies and machinery in the distant past. There's no excuse for hunger to exist in today's society.
40% of America is obese. And if want to bring third world countries into this, just know that you are a direct consumer of the cobalt that is so inhumanly mine in Congo, you drive the car that runs on oil which is mined by war lords and literal monarchs.
Billionaires aren't product of one man's greed it's the product of society which turns a blind eye as soon as anything takes away from their comfort, otherwise they pretend to act righteously but continue to feed the machine. All for comfort.
For Thousands of years people have been slaves, meanwhile the God-kings that rule over them had wealth way beyond what anyone has today. Jeff has a lot of money and owns a very large company, but there's been people in history to literally own nations.
Its not good that we have the wealth inequality that we have, it's certainly got worse in recent history, but this is by no means the worst it has ever been.
While you're not wrong, and its not the same as literal ownership, people have noted in the past that Jeff's net worth is vaster than the GDP of Luxembourg, Ukraine and many other nations. In 2018 it was cited that if his wealth was a country, that country would be the 56th richest in the world and richer than the 48 poorest countries combined. And that was 6 years ago, with his net worth being $31B higher than it was then.
These are all overly simplistic ways of looking at it, but what I'm trying to say is that its still fairly comparative wealth inequality. By comparison, 712 million people (roughly 10% of the world) lives on less than $2.15 a day.
GDP isn't a net worth, it's more akin to annual income.
If he's made 31B in 6 years then his "GDP" is 5.1B, 16x lower than Luxembourg. Sure that still makes his annual earnings higher than a lot of nations, but not at the scale you can imply by misrepresenting what that GDP is.
I'm unaware of an easy way of getting net worth data for entire countries, likely because it's probably not really that useful a metric for running a nation. But, luxembourg is 5 trillion dollars in debt, it's likely fair to assume the total worth of the nation is higher than that.
Their 2025 budget expects to spend 30.9 billion euros (33.66B usd) which by your own account is around what took Jeff bezos 6 years to gain as wealth.
I'm not claiming there's no wealth disparities, nor am I claiming it's moral. But let's not pretend it's never been this bad.
For reference, if you compare him to the nation he presently lives in, the US government spending in 2023 was 6.13 trillion dollars, so the gain Jeff made in 6 years would run the 2023 USA for ≈ 2 days. He's absurdly rich from the perspective of an individual, he's not that rich from the perspective of nations.
By comparison, 712 million people (roughly 10% of the world) lives on less than $2.15 a day.
Comparing across nations is also not really in good faith of the discussion, ignoring the fact that not all countries have the same level of wealth disparity, it also ignores the fact that living on $5 a day in some counties gives you a pretty good life and $5 a day in the US is likely less than some homeless people live on, yet you don't have people dreaming of going to the US to become part of the San Francisco homeless population just because it gives them more income on paper.
Again, I agree it's crazy that people have so much money while others suffer, but blowing it out of proportion and misrepresentating what it is doesn't do justice for anyone.
In regards to the fundamental misunderstanding, I did say its a very broadstrokes, overly simplified comparison which ignores the details. The statement itself is still fairly shocking even once its grounded in fact (which, in fairness, you've done by defining what his GDP would be).
The statement was still 'his net worth vs their GDP' which makes it correct, but relies on the concept that someone can't discern between what net worth IS in comparison to GDP. You're not wrong but I hope we can just agree that even when you compare a Bezos GDP vs other countries' GDPs, that is still quite shocking.
lets not pretend its never been this bad
I couldn't in good faith pretend this is the worst its been, but I think the point here is that its still completely out of whack.
On that last note about comparison between countries, I dont think in this age and level of globalisation location should be a key differentiator. Yes, saying that $5 has varied value depending on location is partially indicative of the problem, rather than an answer for it. Regardless of a dollar's value in a given place, third-world wealth inequality is absurd too. In first world countries, wealth inequality is still absurd.
I dont think we're really in disagreement here, to be fair. Really respect the informed and measured reply without picking at anything on a personal level. Rare to see on reddit.
And we have. Go back a few hundred years and you have a handful of people living like royalty (cos they were, y'know, royalty), and everyone else living like piss poor peasants who had nothing.
Billionaires and politicians are basically our modern-day monarchs and rulers, but they don't have the divine right of kings. They have no right to their throne.
Cuckservatives say that "billionaires create wealth for us"- let's see what that entails. They create the pornography that shackles your soul; they create the cigarettes, vape, caffeine, and sweets that they make you dependent on; they make the marijuana, amphetamines, opiates, hallucinogens, and other drugs that turn your brains to mush; they make the vaccines and medications that makes the human species forego the most important component of evolution (natural selection); and they create the vapid materialism that gnaws at the foundations of the eternal truth that is tradition.
The cuckservatives claim to be Christian, yet they fail to see that the wealth the billionaires create is the reason why next to none of us will ever get to see the kingdom of God. Jesus said that "it is easier for a camel to enter the eye of a needle than it is a rich man to enter the kingdom of God." In today's age, the average middle-classman lives more luxuriously than the kings of Jesus's time; think about what that does to our spiritual life. The billionaires have shackled us--a slave to the worldly passions!
Billionaires and politicians are basically our modern-day monarchs and rulers, but they don’t have the divine right of kings. They have no right to their throne.
Yeah they actually have to provide value to the general population. Bezos is rich cause Amazon is useful and used by many
Cuckservatives say that “billionaires create wealth for us”- let’s see what that entails. They create the pornography that shackles your soul;
And people choose to consume it
they create the cigarettes, vape, caffeine, and sweets that they make you dependent on;
And people choose to consume it
they make the marijuana, amphetamines, opiates, hallucinogens, and other drugs that turn your brains to mush;
And people choose to consume it
they make the vaccines and medications that makes the human species forego the most important component of evolution (natural selection);
Saving lives is bad now?!?
and they create the vapid materialism that gnaws at the foundations of the eternal truth that is tradition.
Or the tradition is outdated and people prefer the convenience of modern day life. For someone making fun of “Cuckservatives” your aspiration towards tradition is like by definition conservative. Pair that with your odd moral high ground about pornography and drugs, and your insane assertion that modern medicine is bad you sound like a loon.
Yeah they actually have to provide value to the general population. Bezos is rich cause Amazon is useful and used by many.
The only thing provided by Amazon is decadence and materialism.
Also is this implying kings and ”right to their throne” is a good thing??
Yes.
And people choose to consume it
The "people choose it so it's okay" argument I see you libertaritr--ns use fucking boils my buttons. Your actions affect other people. When you give people the freedom to choose, they will always choose the wrong thing; this is why democracy doesn't work.
Saving lives is bad now?!?
Modern society puts so much value on life that we leave our elderly to live the last of their days decrepit and alone. I would rather die with dignity than spend my final years incontinent and unable to move. We also keep those whose congenital/genetic defects would have gotten them killed on life support, and even allow them to reproduce, spreading their defects to future generations.
Or the tradition is outdated and people prefer the convenience of modern day life.
When given the choice, a rat will choose the red dopamine button over even food.
For someone making fun of “Cuckservatives” your aspiration towards tradition is like by definition conservative.
(American) conservatism is modernist and based on enlightenment values. I do not share those values. To quote Evola, "my principles are those that, before the French Revolution, every well-born person considered sane and normal."
Pair that with your odd moral high ground about pornography and drugs, and your insane assertion that modern medicine is bad you sound like a loon.
You libertaritr--ns sicken me. Not only do you support a system (capitalism) that furthers hedonism and decadence, but you also support the very degeneracy itself in the name of "personal autonomy."
JK Rowling having only a couple billion dollars (or less that a billion, according to some replies) means that she is still closer to being homeless than she is to even touching the wealth of someone like Bezos or Musk. They could sneeze away her net worth and barely notice.
The point is still stupid. 1 billion dollars is 100x less than 100 billion, but still several million times more than the poverty line. She has more money than she could spend in several lifetimes. Meanwhile, the average poster on here is 2 paychecks away from bankruptcy, and even that's probably generous. Nobody who lives lavishly in a Scottish castle and spend shall their day on Twitter is closer to homelessness than Elon and Bezos, bffr
Lmao, the point is not stupid. The point is that even someone who has more money than they can spend in their lifetime has a tiny fraction of the wealth as someone like Musk or Bezos. In case I need to spell it out to you, I’m saying that people like Bezos and Musk have entirely too much wealth, and the fact that they have so much is a prime example of the complete and utter failure that capitalism has become.
Except you also claimed that she's closer to homelessness than to having 100 billion dollars, which is objectively not correct. You also said that she has "only" a billion dollars in the same breath. As if the average person can just get a billion dollars in their lifetime lmao.
If you wanna talk about capitalism's failure, maybe don't try to claim that a billionaire living in a castle is in any way to comparable to the rest of us. 1 billion vs 100 billion is extremely meaningless when you're talking about personal wealth.
You are wrong. She is mathematically closer to being homeless than to the wealth of Bezos and Musk ($1B is closer to $0 than it is to $200B).
Why are you so hung up on the word “only”? In the context of a discussion about impossibly rich motherfuckers like Jeff Bezos, she “only” has a billion dollars. Get over it.
I also never claimed that she was comparable to the rest of us. I was saying that she is a poor example of a billionaire that gained their wealth without exploiting anyone, considering the fact that her wealth does not even touch that of people like Bezos and Musk. Also she definitely (indirectly) exploited many people to get her billion dollars.
It's not like Bezos and Musk actually have that wealth as money though, they have it in the form of assets that they can use as a collateral to take out loans (which is how Musk bought Twitter). Shitting out 10 billion dollars on the spot is absolutely impossible for any of them
I know that. What that really means though is that billionaires like that have practically unlimited money, since they can constantly take out as much in loans as they want against their unbelievably massive collateral.
I’ve never understood why people make that argument like it doesn’t matter that these people have hundreds of billions of wealth. Just because it’s “wealth” and not “cash” doesn’t really matter at the end of the day. They can still spend ungodly amounts of money, and they still exploited countless wage laborers to amass that amount of wealth.
Well, they own that wedge of the economy because they were instrumental in building it. You can argue that someone else would've done what they did eventually, but if you undercut businessmen taking initiative, then the market tends to stop doing ambitious things like growing.
I am not even sure if they will be allowed to liquidate 10% of their assets like that, there are most likely failsaves that would let other major shareholders from putting and end to any insanely idiotic ventures they might make
Every source that comes up when I google her list her as a billionaire. That's assuming we are converting to the dollar, which I think is the only reasonable thing to do, we can't compare across currencies.
From looking around forbes hasn’t had her listed as a billionaire since 2012, most of the other sources assume she’s a billionaire because forbes had her listed as a billionaire before
Too bad the supply chain exists otherwise you would have had a point there. Workers made the physical books, workers made the movies happen, workers made all the toys and merchandise. She gets royalties from all of that. Or are you implying she made all of those things she profits from with her bare hands by herself?
Are you really implying that whoever employs another human being for whatever job is an exploiter? Cause I don't really see how someone working in the publishing or filmmaking industry could be defined as exploited, but please if you have evidence of that explain it to me
You're coming at this from an intentionally obtuse angle. "Oh so you think all labor is exploitation, a thing you very explicitly did not say? Huh?".
Cause I don't really see how someone working in the publishing or filmmaking industry could be defined as exploited,
We literally can't go a week without hearing about how some actor was molested by a director or how animation teams get shafted. They literally had a writers guild strike last year in America where people demanded better pay for their labor. Read the news sometime.
Oh boy you said that, all the workers that made books, films, toys, merchandise. It's exactly what you said. Plus do you think that sexual harassment or the fact that people wants an higher salary means that they are exploited? Sexual harassment is an individual crime, and is committed by an individual towards another individual, it's not included in the contract. The fact that a worker wants a higher salary doesn't mean at all that they are exploited, it just means that they would like to make more money for their job, and being on strike means just that they are using the contractual power they have to gain it.
Plus I really don't see how an actor being harassed or a screenwriter not being payed enough has anything to do with Rowling. She makes money by the royaltys because she wrote the HP books and has the IP for it, the contrition of work in Warner Bros or the company licencing that IP is a responsibility of the company's owners, not of Rowling
Yeah, because they likely are, that's not what you claimed tho. You assumed I think all labor is exploitation, which I objectively did not say. There's a difference you're too obtuse and unwilling to recognize. Do you know otherwise, that Rowling chose purely fresh organic non problematic worker co ops for companies that printed her books and made her merchandise? Or did she or whoever made these decisions go with the cheapest options?
You are responsible for exploitation happening under your name and brand. Just because you're not personally pulling the trigger on company deals doesn't absolve you.
People being paid less than they deserve and getting treated poorer than they deserve is the definition of exploitation. Don't like that? I don't care, cope.
You are responsible for exploitation happening under your name and brand.
This is the dumbest take ever. The day to day running of the business is the sole responsibility of the executives of that business. Even shareholders have no responsibility unless made aware of company wrongdoings. JK Rowling is the least liable person for this, and every court on planet earth agrees that this is the standard law. But no, all courts around the world are wrong and you are correct.
"The rich and powerful say the rich and powerful aren't doing anything wrong."
Well I'm happy that's settled then. I believe people have personal responsibility. If I plaster your face on a shirt and have my slaves make it and sell them, and then give you a cut of this profit, ideally you should not take it.
Realistically many people take it because they can't afford not to, they have bills to pay, but near-billionaires like JK have no such excuse, really.
Like I specified, the board has no liability unless they have knowledge of an executive’s wrongdoings. After that, it is the board’s responsibility to vote the executive out; but courts intervene before that, add jail time for the executive and disbar them from being a director for a number of years. So boards don’t even have to do that because the criminal and civil court proceedings are of a much higher importance and it’s the job of the board to not stand in the way. You clearly don’t get how courts and company law work.
Secondly, your slavery situation is not how business works in the real world. How your situation would be more accurate is, first you make your business look beautiful and nice and socially responsible, then you negotiate a deal with JK Rowling and buy publishing rights to her books. You pay her her millions at this stage.
Then you fire all your employees and keep slaves to run your business. And you just have to pay your minimal “royalties” which are just pennies sent as a quarterly cheque compared to the hundreds of millions you gave her in straight cash when you negotiated the deal. JK Rowling doesn’t wait at her mailbox every quarter to cash her cheque, the millions were paid at the time of settling the deal. Same goes for movie rights, for music publishing; it’s how all industries operate. You don’t understand how business deals work either.
Was JK Rowling deceived into believing this is a slave free business? Yes you can say that. Who is responsible? The executives of the business and nobody else (Limited Liability Company), because they were the sole perpetrators in this.
Furthermore, are any of these businesses committing slavery? We have modern slavery laws that prevent the functioning of sweatshops, etc. which are called “modern slavery.” Any website you go to, if their business makes 7 figures, they must publish an annual modern slavery statement, a legal document that states they are have taken extensive measures to prevent it. Go to any big business’s website right now and you will see this in place, and by law it must be on the front page and easy for anyone to find. We have laws as such, so that even if there are allegations of slavery, and the business tries to cover it up, this legal statement they make can be used against them in a court of law, thereby increasing the severity of the punishment they are served.
Being paid less than they deserve for who, you? Every job is an accord between two parts, if you are not satisfied with the terms someone is offering you go take another job. If you are not skilled and have almost no contractual power there are thing like minimum wage and unions to support you. Been exploited means that you are not paid enough to make a decent living in relation to the amount of hours worked, not an arbitrary sum that you decide. That's been said I have a long day of study an exploited work ahead of me, so goodbye!
You know people use the whole "if you don't like it, move" talking point as a parody of a shit point and here you are making it unironically.
The workers in places like the film industry are being paid less than they deserve according to them. We went over this already when I dunked on you about the whole writers guild strikes that you ignored.
Every job is an accord between two parts, if you are not satisfied with the terms someone is offering you go take another job.
The other guy is not too bright, but this is a very stupid point to make as well. Most people can't afford to be without a job for a long time, and a lot of industries as a whole have standardized and "competitive" salaries so you can't really do much unless you change your job as a whole, which is not exactly an easy thing to do.
People should, at the very least, earn enough money to survive.
Yes that is actually what they believe. Their communist utopia is one where they sit at home doing whatever they want and getting taken care of by big brother government. Any work is exploitative because they see work itself as something they shouldn't have to do.
Also hilarious that they say you're being intentionally obtuse when they are acting as if the "workers" along the way aren't being fairly compensated, even though everyone along the way willingly applied to be employed and entered into labor contracts. They are profiting from Rowlings's (amongst others') works. But that doesn't go along with their headcanon of "woman bad for saying men aren't women".
Their communist utopia is one where they sit at home doing whatever they want and getting taken care of by big brother government.
Communism, by definition, is a classless, moneyless, stateless society. There is no daddy government. There is a commune ready to help you meet your basic needs.
"workers" along the way aren't being fairly compensated, even though everyone along the way willingly applied to be employed and entered into labor contracts.
Well, yeah. When the alternative is homelessness and starvation, you don't really have a choice now, do you?
Said workers are profiting from Rowlings's (amongst others') works,
That's an extremely disingenuous phrasing. They're profiting from their labor, which they sell to survive. They would be profiting from her work if they owned part of the Harry Potter IP and received royalties from that.
Ever heard of Henrietta Lacks? An African American woman who died of cervical cancer in 1951, her cancer cells, taken without permission by a doctor at Johns Hopkins, are one of the most important cell lines in medical research. Her family was never compensated.
Arguing against royalties is akin to saying the family should never be compensated, nor do they deserve it, as there were no laws broken regarding the doctor's actions.
Henrietta Lacks and her family did not contribute to the research and the numerous medical advances that were possible because of her cells, but everything that followed would have been delayed or outright impossible without said cells. Do they really deserve absolutely nothing?
I mean, cool story but that's clearly a completely different type of 'royalties' (if you can even call them that) than what we're talking about here. And still, I don't believe that the family should be entitler to receive part of the profits of that research in perpertuity.
Any work is exploitative because they see work itself as something they shouldn't have to do.
Childish mischaracterization. What's got people frustrated is that there's no reason we should all have to work 40 hour weeks while the bossman gets a yacht. That's fucking stupid and you're cucked if you support that.
If someone says they don't want to work at all by all means call them a lazy piece of shit, but commies and anarchists have been accurately arguing that we could probably get away with everyone working at most 20 hour workweeks for centuries if wealth and work was more evenly distributed.
Actually, I think that people did work less on average before the industrialization. But that was because there really wasn't much work to do in the colder seasons, and summer would always have you doing backbreaking labor in order to secure food.
Maybe 1.5 is better. Don't look at me man Krotopkin did the math in 1892 and looks pretty legit to me.
Our dependency on hard labor for the majority of our lives is capitalist propaganda bro. Check out "Bullshit Jobs" by David Graeber, half the shit they have us doing is literally pointless and worthless.
Well maybe not all but when you look into how a living wage in fact does not allows you to live decently, then yes it is exploitative in most of the case.
Are you really implying that whoever employs another human being for whatever job is an exploiter?
Yes, to some degree.
They're not exploited in the same way a chattel slave is who has a gun pointed at their head while they pick cotton, obviously.
We get away with saying "it's not so bad" because of bread and circuses and iphones.
But at the end of the day, without the workers that pulp her paper, nobody knows who the fuck JK rowling is. If there was profit sharing, she wouldn't be a billionaire, but she'd certainly still be a multi millionaire, and the upside is a lot of people who helped her get to where she is would also be wealthy.
Actually, to come back to the chattel slave with a gun to his head, in reality, there probably were people like that involved in the supply chain that made her rich and famous. Foxconn type companies in the PRC or Southeast Asia.
But JK Rowling doesn’t own or operate the publishing company, or any of the companies the produce Harry Potter books. She simply has a contract with the publisher where she gets royalties.
If you’re saying that accepting money from those companies makes you morally wrong, then even the workers that receive a salary would be morally wrong
I'd argue she's more of a billionaire than most who have a net worth of 1bn+.
The vast majority of them are business owners, who own shares that are worth hundreds of millions, but do not have cash worth that much.
As JK Rowling is an author, she gets straight cash for her book deals (not shares of a company) and cash for movie and merch licensing deals.
Of course she may have diversified and protected her wealth by buying securities; but she, a lot of authors, and a lot of musicians especially, get paid straight cash. Unlike a lot of billionaires, who hold shares worth that much.
Her continued hatred and politicising of trans people is exploitative. She is using her platform (social capital) to push an agenda against people who are generally living in unstable accommodation and have unstable work. It has a direct material impact on trans people when she promotes bigoted viewpoints.
Lol no they didn't. Community markets like Dota are about the best way to handle cosmetics possible, they literally allow you to sell it to other people who want it. Valve also actually make good games people are willing to play and support and they're all f2p. You can't compare valve games to dogshit and call them the same thing.
Man you remember the shitshow when they gave half the community halos because they didn't use 3rd party software to unlock items?
People were getting banned from servers for wearing it lmao
Game economy in TF2 allowed you to gain Items you didn't have money for by trading. That's a good thing.
Most in app purchases in TF2 are cosmetic and you don't even have to pay in some cases since you can craft hats and trade.
The only predatory thing I could think of is option to buy weapons in Mann Co. store. But that's a strech since you can get those weapons normaly and most default weapons are best anyway.
You can't compare this to pulls in Gacha games..
All of these things (except the Mann Co. Store) make the game better. TF2 wouldnt be the same without the hats, taunts, dances etc. It's not just a way to squeeze out as much money as possible from it's player base, like the games you are refering to.
I don't know a ton about his personal beleifs. He has a lot of simps and I like some of the things I've heard claimed. The one part I strongly dislike is that steam is a platform based on DRM and the fact that you do not own your games or your account, so it can be revoked from your possession at any time.
Many people buying products off steam think they’re buying a game, they’re not they’re buying access to a game which can be revoked.
Steam knows this but (until recently due to change in laws mandating clarity) let people “buy games” with theses false impression that they own their games.
I’d say knowingly deceiving someone in a deal (even a good deal) is exploitative because they might not have agreed if they fully comprehended the terms.
Sure but the practice as a whole is not great and it’s never a good thing for the customer to rely on good graces of the business to honor their end of the deal when it stops making them money.
Look at the CREW or people who bought Anthem… or Concord… or RUSE…
Bunnies will always do what serve them best first, customer be damned.
Yeah did you buy it last week? No you didn’t because it’s been delisted for years but you’re still protected by the old EULA that said you own that game.
RUSE wasn’t a live service game?
And the Crew had a single player campaign?
Both games are now unavailable, not that those specific examples even matter by the letter of the EULA any one of your games you play of steam can just be yoinked from you by the desecration of steam or the games developer/publisher.
That's like saying the call of duty games have a single player campaign.
As for concord, didn't the 10 people that bought that game get their money back?
by the letter of the EULA any one of your games you play of steam can just be yoinked from you by the desecration of steam or the games developer/publisher.
You make it sound like it's a big deal, but it's just there for cases like the ones you've named. Concord and similar failed cases that need to be revoked.
Steam and the devs have very good reason not to randomly take games away from your library, and so they don't.
Yeah some games have single player campaigns and if I pay for them, I should be able to play them. Your comment about call of duty is redundant and stupid.
Yeah, I think a business being able to tell me “oh that thing that you bought we don’t think you should be able to use it anymore because it doesn’t serve us anymore” is bullshit and a big deal and you’re just normalising it.
The only reason they don’t just rip games away Willy billy is because it makes them money but should that change should Ubisoft or EA or Acrivision put pressure on storefronts to change how those deals work so they can rip games away from players once they’ve extracted maximum value from you.
Let’s not forget the pay to reload bullshit or pay to join a match.
These companies are greedy and will nickel and dime you every chance they get.
Yeah some games have single player campaigns and if I pay for them, I should be able to play them. Your comment about call of duty is redundant and stupid.
I would just like to point out that just because you don't understand something, doesn't mean it's stupid or doesn't make sense. The other person said that the crew is a live action fail, to which you replied that it has a single player campaign. My point is that that's less relative than you made it out to be because it's a small campaign and it's not what people bought the game for. That means that the comment about the live action fail is still entirely valid.
I think it's important for you to understand that you're not as smart as you think and that other people might sometimes say something beyond the scope of your understanding, and that that's no reason to call it stupid. If you can't grasp that concept, I don't think there's a point in further speaking with you.
The size of a game (or its campaign for that matter) is redundant to wether or not it hold value to a player who bought it, I don’t care if you payed 50 bucks or 50 yen.
If you bought a game, you should be able to play it.
It's neither smart nor stupid, but just generic knowledge about single- and multiplayer games. The fact that you think something has to be either smart or stupid and nothing in between further reinforces the idea that you are stupid.
The reason other people buy video games is generic knowledge? Also, you‘re the one that said it was a stupid question. Aren’t you the one saying something is stupid?
grandpa, it's fine if you have no idea about games on the market or about consumer tendencies, but don't come to me expecting a lesson in video games.
Also, you‘re the one that said it was a stupid question. Aren’t you the one saying something is stupid first?
Yes, that's exactly how that works. I know you're not the brightest, but which part here confused you? You said something stupid, I told you that it was stupid. You asked me what part of my comment was smart, I told you that it doesn't need to be smart to not be stupid. I cannot dumb it down any further than this.
Really good job responding to my point about your somehow omniscience about the reasons others buy games! When you have to resort to name calling, your point probably sucks.
You are aware in the most recent COD the completion rate of the campaign is 49.6%, and the completion of the first multiplayer trophy (rank 10) is 52.8%.
So actually, you did make a stupid point. They’re played about equally.
Also, the inverse of stupid is smart; I don’t know how you think words work, but if something is dry, it’s not wet. If something’s stupid, it’s not smart. Do you understand how basic words work?
I think the argument that he's making is the fact that they have the power to take it away from you and there's really nothing you can do about it. Sure, the examples are mid af games but the fact still stands that you don't necessarily "own" the game. The platforms basically just rent it to you indefinitely until they decide you can't have it anymore.
Spec ops the line and Telltale’s entire roster of games are examples of single player games that are no longer available to buy but you can still download and play them if you own them. I can’t think of a single instance of Steam themselves removing a game from people’s library that wasn’t a scam like that one overhyped zombie game from last year and there they offered refunds for everyone who bought the game.
Counter point, games like transformers: fall of cybertron have been removed from the steam store, but there if you own the game you cha still download and play the game.
It’s not that you don’t own the game, it’s just that unfortunately a lot of triple A games are moving towards an “always online” model, that way when the sequel comes out they can pull the plug and force everyone to pay for the next version
Hypothetically, if steam went out of business and shut down their servers or started baning people for some reason, we would permanently lose access to all of those games we paid full market price for. Even the ones we had already downloaded would stop working due to the drm protection.
In those hypotheticals, steam COULD just release their drm protections so their customers could keep the games without steam being involved, but nothing in their tos obligates them to do that, so why would they?
In a less hypothetical example, you can't pass on your library when you die because it's not yours.
It's shitty because most current AAA games on steam are being sold at full price. You are buying temporary access to a game and paying the full price of the retail product for it.
Most games are like this nowadays. There are so many that require online connectivity to online servers to function that when a publisher pulls the plug on those the games won't be playable anymore.
that's true now but if unchecked they could revoke this and fall back on their rules of you not owning it. or the company could get bought out/switch hands. for an example, I used to have funimation and had several movies/shows from the extra codes that I lost them when crunchyroll decided to no longer support it. obviously steam and gaming are a lot different than that but it could go that way if left unchecked
It dosen't seams to go that route while gabe own steam. But he is not immortal and someday steam will fall on the hands of greedy ceos. Then the enshitification of service you can see on 99% of enlisted company will begin.
A lot of people don’t know that, most of my friends think they’re “buying games just like CD’s”
You’re not there is a technical and legal distinction between buying a licensed copy of a game off steam and buying a physical copy of a game.
I feel like that's your friends issue, because buying licenses is always how it was, even at the very dawn of digital game markets! It was (and still is) the practice on places like the Xbox 360 etc
And the same kind of goes for CD's, you are given a licence to use that disc to play that game, if they have the ID of that CD, and the ability to update the device that plays that CD, they can revoke your licence to play that game (see what happened with the AACS encryption key controversy, this kinda happens to a load of movie dvds)
The fact that you only own a license for digital media is also alluded to in the beginning of every single movie DVD with the disclaimer in bright red letters
A lot of people don’t know that, most of my friends think they’re “buying games just like CD’s”
Even then, you didn't own the games. You owned a physical copy of the game, and permission to use it. The right to use it has always been subject to the game's manufacturer.
That's why you have lengthy terms and conditions to agree to, even when installing from cds.
Game licenses have been a thing since the beginning of gaming.
You’re acting like those games are being taken off people for no reason. They’re revoked on niche cases, such as removal from the platform due to developer misconduct, security breaches, or as punishment for violating terms of use. In cases in which the customer isn’t at fault, they issue refunds. I’ve never heard of any instance otherwise.
That's on them. It was always a license, only nobody cared enough to read to the EULAs. And now that they put that front and center, people suddenly started to care
Didn’t steam also put out a statement recently that they support the proposed law to make buying digital things mean you literally own a copy of that thing rather than a license to access it temporarily? Or am I misremembering?
Steam knows this but (until recently due to change in laws mandating clarity) let people “buy games” with theses false impression that they own their games.
Oh fuck off, it's not like they were ever being dodgy about it. It was clear that you buy games on your steam account from the getgo. You download the games from steam. If you thought you were buying a physical coly on a digital store, you are to blame, lol
The addendum they had to make is getting people riled up for absolutely no reason as literally nothing changed.
Is being a DRM and only selling licenses really exploitation? Just curious I'm not too familiar with the definition
People are upset that they agreed to the terms and conditions when buying from steam. Steam hasn't said they are explicitly deleting or pulling games at a certain time as Ubisoft did.
No one is forcing anyone to play steam games. People think that because they pay the fee to play the game that they are deserving or entitled to the bargaining negotiations behind said games which they aren't.
At this point your question becomes an ethical one and not a legal one.
Like is it exoploitation in the legal sense? Probably not. But any money not in circulation hurts capitalism
They have actually started to roll out a disclaimer on the purchase screen letting you know it's a license now. Not that it being a license is good, but it's something
I dont want to seem like a shill, but i dont blame valve for selling licenses instead of games, since idk how they could sell a digital product in a permanent fashion. This may be ignorant of me though, since i think GOG actually just straight up sells you a "copy" of a game.
Anyways what i would like would be the return of physical media. Pcs having disk slots again and we having the option of actually buying games and permanently owning them.
Yeah, gog gives you access to an installer separate from itself, so you can keep the game if gog ever leaves. I don't mind licenses myself because I feel like steam is gonna be around for a while, but it does suck in terms of game history possibly being erased over a long period of time
My concern is losing my stuff over bureucratic bs, valve is a company after all, all it would take is one dumbass fucking around and poof.
I might transition to GOG, but i already have all my stuff on steam. Steam is also unparaleled in terms of quality, usability and tbf having a cool profile is just straight up fun.
Steam is literally a rent seeking parasite. They do almost nothing for the game and ask for 30% from all sales. The platform is almost mandatory to use, as games hate publisher owned stores. They assfuck game developers hard and you love them for it.
No. I have no solution. It is impossible under capitalism to have market access without exploitation and it is also impossible to be a billionaire without it. I'm just pointing out that the ethical billionaire mentioned herein is not ethical, but runs a parasitic company.
Other problem is that Steam us unwilling to do anything about setup to "pass the account" in case something will happen to you. Even Apple did some things that your relatives with correct information can access your account. But Steam nope, and it is even against TOS that other person will access your account.
Steam does not force DRM. That's a weird myth thay GOG spreads to keep their sales up. Steam ALLOWS DRM to be used, it's up to the publisher to use it. Many games (for example, FTL:Faster Than Light) can literally be copied to a USB drive and played on a different PC.
There are dozens, possibly hundreds of people out there with enough knowledge in reverse engineering to crack Denuvo.
The problem is that 1) the knowledge on how to do it is kept secret by the few, very mentally ill people that have already done it and 2) it doesn't make money.
Bypassing anti-cheats like Vanguard or BattleEye is also hard, like top 0,1% hard, however there are ample ressources online to give you a lead. Also, you can sell cheat software if you use grey areas in jurisdictions.
Cracking Denuvo is entirely doable for the top 0,1% of programmers, however you'd have to do it from scratch and there's no payout unless you have ties with a government since it's full on piracy and therefore completely illegal.
Now IF cracking Denuvo made money and 10-15 people worked on it as a group, you'd see releases being cracked in under a month, however as long as it makes zero cash in return for basically maximum risk, yeah, nope.
Steam was always like that and every other digital game retailer as well (except gog) steam just is upfront about it now even with discs you still only bought a license
Valve also doesn't pay very well, and their management system doesn't really allow for career advancement, which is why they can't keep talent for very long.
that’s entirely down to the actual game developers, many steam games don’t have DRM but either way a marketplace platform can’t just unilaterally decide that
DRM is related but disconnected from "owning a game" or "owning a license to the game". DRM is basically just anti-piracy.
Consider: Games that came with CD-Keys to limit piracy had a form of DRM but predate digital stores by years, they came with the game CDs/DVDs (hence the name) that you physically bought in a store. On the opposite end of the counterpoint, games you "buy" in GoG are all DRM free but still just licenses similar to those games bought on Steam or Epic or whatever (GoG games cant be resold, cant be sublicensed, GoG reserves the right to remove your license -ie banning your account-, etc).
Also, last point to note: Steam does not force DRM, that's just a generally believed lie. Steam leaves it up to the publisher, they don't make the decision since they are just a storefront. Witcher 3, for example, is as DRM free on Steam as it is on GoG (you can download the Steam version and then play it bypassing Steam entirely if you wish).
2.1 "We give you and other GOG users the personal right (known legally as a 'license') to use GOG services and to download, access and/or stream (depending on the content) and use GOG content. This license is for your personal use. We can stop or suspend this license in some situations"
3.3 "Your GOG account and GOG content are personal to you and cannot be shared with, sold, gifted or transferred to anyone else" Do you really own something if you can't trade it?
8.2 "Trading Virtual Goods is prohibited (unless you are specifically permitted to do so). Your right to use any Virtual Goods is limited to a limited, nonexclusive, non-assignable, non-transferable, non-sublicensable, revocable license to use them solely for your personal entertainment and non-commercial use in the applicable GOG content. You have no property interest or right or title in any Virtual Goods, which remains the appropriate publisher’s property. Virtual Goods may be changed, amended or reversed if necessary, including to enforce this Agreement. If necessary, limits may be placed on the use of Virtual Goods (including transaction limits and balance amounts)."
11.1 "Regarding GOG services (which includes GOG software), unless you have prior GOG permission please don’t modify, merge, distribute, translate, reverse engineer, decompile, disassemble, or create derivative works of them – unless you’re allowed in this Agreement or by the law in your country" Right, so you "own" something yet have to contact them for permission to do anything with it, like imagine if you had to contact Xiaomi if you wanted to repair your phone.
Won't work forever, steam games will occasionally force you to launch games with an internet connection to verify ownership, and steam has officially stated that when you buy a game, all you're doing is purchasing a license to download and play the game, all stored digitally, and because of that, theoretically, steam could revoke access to a game, they're only going to do it if the payment was fraudulent in some way, like a stolen credit card.
TL/DR: Steam sells you licenses to play the games they host and won't revoke any license unless you bought the game with something like a stolen card.
I mean its not really possible to make a gamestore that lets you own your games. If Activision sells overwatch, no matter how i got it I'm just having a license. There is literally no way around it.
Steam is actually quite user friendly in those situations. It isnt a guarantee that a gamestore lets you play a game that you never installed that is delisted, yet i can play deadpool no problem. They also work on allowing you to share games among family
Complaining that i dont own my games on steam is like complaining at my local tech store that everything here needs electricity and they chose to sell me stuff that i have to charge someway
Do people just not remember a time where purchasing something meant you owned it and assume that system never existed 😅? Or that you had a right to repair your own products you purchased. Having a digital distribution platform does not inherently mean you couldn't possibly retain ownership of a product with indefinite access. They are files that can be downloaded. For sure it's great that steam lets you access delisted products currently. All of these things are wonderful but the fact that they need to be praised rather than being the standard is already deplorable and that's the issue im primarily trying to point out is how abuse is a standard and not an exception.
no the problem is that you havent been owning your games since the halo times. you never owned those games in the first place. now steam tells people "by the way you dont own this" and people think "steam why would you do this to us" when they literally CANT FIX THIS. THIS IS A PUBLISHER AND DEVELOPER ISSUE.
right to repair is fine and all. and im all for preserving digital media. if the game can be played without a second person, then it should be playable offline or be programmed with an offline mode later on in mind. this shit happened for wayfinder. they literally said "fuck it its offline now and you can host parties on your own" so the game survives no matter what, and its disgusting that some games demand a connection, but for fucks sake people actually think steam has any control over this? or that this (which they dont control) is the reason why their platform is immoral?
im sorry i just see a lot of people literally not understand why this issue exists. like i literally just saw someone claim that steam just stole their games and its... frustrating because blaming steam indirectly absolves ubisoft and the like of having to face consequences for shutting down offline games
No it's totally fine! I definitely didn't choose my phrasing as thoughtfully as I should have. That's on me :) just wanted to make sure I clarified my intention since I communicated poorly.
I do think steam has some responsibility for enabling the developers/publishers further but I agree Steam is not where the primary fault lies. I think left to their own devices these publishers would be even more anti-consumer and already have some awful practices they try to normalize.
I do greatly appreciate when devs make an effort to ensure their games can be played indefinitely even when the servers go offline for multiplayer (and leave it to p2p hosting). Yea it's sad that people can't play the older halo multiplayer online functions anymore. You still have access to all of the offline content though.
There is thankfully some movements aiming to make indefinite access a development standard.
tbf steam didn't take away Rimworld when my country banned it, it was no longer offered for sale until they realised they were being morons but I still had access to whole time.
That's just the way it works in digital goods. He's been the most pro consumer leader in the space since gaming became a thing. Just because they can take your games away doesn't mean they will. Newell has proven he'll make the decision better for the consumers if it's a choice between the corps and consumers. There's a reason valve never went public.
Valve is probably still the closest thing to an ethically run business in the games industry. While they are not a real cooperative, they are not publicly traded, a lot of their employees do own stock, and they have a rather flat structure and some form of workplace democracy or other, IIRC.
You were being sold a license even with the old disks, they're just way more transparent about it nowadays. If you really hate DRM that much, use GOG exclusively or crack it yourself (if you got the balls that is).
I don't think you're necessarily wrong, but it's because we've enabled them to do so for so long and consumers will not protest the practice. Now it's "standard" so companies and consumers are just going to keep pushing it as acceptable.
It can work a lot of the time, but not for everything, and it relies on the goodwill of people doing the labor of making cracks for free (or being batshit insane like empress). Denuvo also makes it so you're waiting 1+ year for a crack to be felevoped sometimes.
And of course: if you're able to, always support the creators of gaves you loved!
I recently learned that Steam (not Valve, just Steam), makes several times more than Citadel Securities, a hedge fund that set the best single year returns of any institutional investor in the entire history of the stock market back in 2022.
Lots of money made with gambling. Steam and Valve games are great as far as I can see but the economy of gambling is not ethical (chest opening and so on).
No it's not, it's their cut for services they provide. And that service is obviously valuable. If it wasn't worth the cost people and developers/publishers would chose the alternatives like Epic Store where the cut is smaller.
Just because you work more doesn't mean your work is (more) valuable.
If I were to dig foudations for a building with a shovel, I would work WAYYYYY harder then a guy that would dig them by an excavator. Does that make my foudations more valuable? Of course not.
Same thing with Gabe Newell. He has/had the mind to create services/products that are used by millions of people each day. It's only natural it made him rich. There's nothing unethical about that.
theres a lot of shady stuff and illegal practise going back to the early 2000s regarding steam and valve corporation if you take a second to read into it. original point stands.
Steam gets a very big cut from the game's sales. 30% compared to just 12% from Epic Games. Big studios can manage, but losing 1/3 of your turnover is a lot for indie developers.
30% of each purchase you make on Steam is kept by Valve. This is based on the retail model where stores have to build physical buildings for you to go to. Pay employees to stock shelves and interact with you. Build distribution centers to warehouse incoming goods and pay people to ship them to stores.
Gabe and Valve don’t incur any of that costs, yet charge that same commission. It makes Valve incredibly profitable. It makes your games cost more. It makes small game development less profitable and big publishers chase blockbusters like COD:MW:GR:BO 7.
Also, it means Valve doesn’t have to do much of anything to rake in money. Such as developing Half Life 3.
Gaben should more evenly distribute the profits but 30% is a bog standard markup for middlemen like distributors, shops, etc.
Steam absolutely has costs. Do you have any idea the cost to maintain the infrastructure that allows >100mb/s downloads worldwide to tens of thousands of people simultaneously? Not to mention r&d into shit like the steam deck that creates new platforms for gamedevs to build for.
Are you seriously that stupid? Yes, Steam does not have the costs of employes and rent that physical stores do, but it is also a completely different service. For that 30% commission on steam purchases you are getting distribution (you are using valve servers to download), marketing (store page), player support and other features such as in-game market or social functions. All of these things cost money. Servers need to be kept running, player support employees need to employed and those functions need to be designed, programmed and tested. So it is not 30% for nothing as you have put it, if it were people would jump to competitors. The 30% is just allocated into different things.
They have costs of goods and services just like retail stores do. But because their products are virtual they are able to scale up to a global marketplace for a fraction of the cost. Yet they charge the same commission.
Let’s look at distribution alone. Valve could run their entire operation out of 1 data center and host the store page, process credit card transactions, distribute installers, and validate purchases for DRM. They surely have more for disaster recovery and to lower latency on each continent. Let’s say they have 1000 locations, they don’t need the entire data center to themselves, just a rack or two for each. Compare that to a retail store shipping around physical goods. They would need hundreds of thousands of stores to have the same global market. Those stores would be supplied by thousands of distribution centers. The real estate cost alone dwarfs the hardware and bandwidth cost.
You mention distribution and I already addressed that. But the other things you say Valve does, retail stores do as well.
Marketing, you have the Steam store page. Although I would put that under distribution you did not, so I’ll compare that to a physical store like a Walmart. Again that’s cheaper for Steam to run. But Walmart has to run ads to get you to go to their store instead of Target, or Safeway, or AutoZone. The most I’ve seen out of Valve is logos on game developers websites. Again lower cost to Valve.
Player support. Valve has people in a call center somewhere answering chats and processing returns. Walmart has a call center doing similar tasks and physical people at each store.
In-game market. How is this a separate feature from the Steam store? It’s just an API connection between the game and the store. Valve had to create it once and make some upgrades over time, but the game developers are the ones implementing the client side because they want the micro transactions. Since this is basically just processing payments I’d say the store equivalent is credit card processing terminals and the computer system behind it.
Lastly you mention social functions. I guess you have me there. I’ve never seen a retail store with a chat application, nor a PA announcement that SenpaiDerpy has entered the little boys department. But that’s about all that Valve is doing , plus a bulletin board chat room. These are 20 year old technologies.
Given all the areas where Steam is cheaper to run than a physical store, the social functions do come close to being expensive enough to justify the same 30% cut.
Fair enough, but it's not any different in other fields. When you publish a book (unless it's self published) you earn a very small amount of money from each sale. It's the same with items and any sort of product that you put out via a distributor.
The game developer. And if you buy a $60 game that’s $18 to Valve and $42 to the publisher (who then pays the studio).
Valve chose 30% because they wanted to take that money, not because it cost them that much. They could take less and still be phenomenally wealthy. Gabe is not a good billionaire, he became a billionaire by extracting that wealth from others work.
Ok, but if it wasn’t for Steam sales there is no way I would bother buying most of these games (many of which I already own physical copies for various consoles), so the publishers would be getting zero dollars. I understand that Steam could take a smaller cut, but they aren’t exploiting me, I’m choosing to use their service.
No, that's the exception that proves the rule. Gaben runs his company like a little anarchist syndicate, and makes his employees very rich, but he's still a billionaire because at the end of the day he profits off of their labor. He owns the means of their production.
It just goes to show that even if you're as good as is physically possible to be under capitalism - flat hierarchy, massive profit sharing, keep the company under private ownership, invest heavily in R&D... you STILL are profiting off of other people's labor and exploiting them.
But people get away with it because dumbasses will compare you to an 18th century Romanian peasant getting terrorized by aristocratic vampires and be like "well well well aren't you a whiny whinerton, with your iphone and your not-getting-eaten-by-vampires lifestyle." What we really should be comparing to is the absurd power wielded by even the "nice" billionaires like Gaben, a man who has a private fleet of 3 massive superyachts, one of which is an entire ass hospital ship dedicated to keeping him alive if he gets Covid.
That's madness, that's unnecessary, and nobody should be allowed to wield that level of power and wealth if there's kids in the same country that can't eat.
Sorry gaben, love you to death, but 90% of your wealth should be liquidated and used to feed kids.
Well one could argue that a lot of his wealth basically comes from gambling (which gets worse when you think how young some of the players are) and also having this big community market. Which basically is a real market without any regulators that is used for market manipulation just like skins are also used for money laundering and valve for sure could do more against it.
Other than that and him being a workaholic and shitty father, I would agree he might be the only one if he is paying his fair share in taxes
Not against Gabe Newell, but didn't Steam recently just outright state that what they sell are video game licenses rather than the actual ownership of the video game itself.
I mean, any game hosting platform is just selling you a license, unless it's a disc, you don't own it, I feel like this is a non-issue that people are blowing out of proportions.
they did outright state it recently. they also outright stated it five years ago. and ten years ago. they're not really a "villain" here, just doing what everyone in the industry does.
I don’t think most people want to work at all. They work because they want to eat and keep a roof over their heads. This is nothing new. What’s your point?
The point is that people need to be paid shit in order for billionaires to exist and that nobody should be paid shit, because being paid shit means having a difficult life. Not the ones already in the end of the chain nor the ones who will take their place should be underpaid.
People deserve dignity and comfort in life. And, yes, people with high paying jobs stay in their jobs because they want to. They can use their savings to get better education, which is unfathomable for 99% of low wage workers because they can't have savings.
Any given job is only worth so much. What someone earns by working is primarily determined by what the work is worth to the employer and what the employee is willing to accept. We could go back and forth about what people should be paid and what people deserve all day, but it doesn’t change the fact that if you have a job that just about anyone can do, you generally won’t be able to command a very high wage.
Both. Also 1st world "poor" is still poor. If you have to stress about every single penny you're spending cause you might lose everything if you don't, that's poor.
Not in the same way at all. Thats just typical life. The difference is the level of nutrition people get, and their children. It matters more than possessions.
Wrong. In a zero sum game, what’s good for you is bad for someone else. That’s not how a transaction works in a free market.
Just as an example, imagine a guy selling hot dogs out of a cart for $3 each. Now imagine that you want one. You want the hot dog more than you want the $3 and the vendor wants your $3 more than he wants the hot dog, so you trade. Both of you got what you wanted, so both of you are better off. That’s not zero sum.
That’s how companies like Amazon get so big and successful. They give a lot of people what they want for prices those people find acceptable. That’s not something to be mad about. That’s a net positive for all of us.
Not totally true though is it? Surely there’s an argument to say that Amazon have aggressively pushed a generation of independent shop owners out of business and potentially into low paying distribution centres instead.
Yes, it is a very complicated argument. Redditors suck at appreciating complexities and weighing the benefits and costs of things. The reality is that you have to look at a company like Amazon holistically. They have forced what would have been many small business owners into lower paying jobs, and this is bad. They have also dramatically increased the convenience of shopping for billions of people around the world who no longer have to drive to several different stores to get stuff, which incidentally also reduces global carbon emissions, and this is good.
Is the goodness of the good more than the badness of the bad? That's an interesting debate.
That's the way the problem should be addressed and worded. Not the typical "omg he has lots of le moneh, that's why millions are poor". His net worth in and of itself has no effect on anyone else's net worth. It's how he acquired it.
You mean ship owners who thought their business model would be viable forever and this never changed anything? Those businesses still have every opportunity to be viable, they just need to innovate a little and focus on what advantages they have. But they are lazy. They simply wanted to go on as they did for the last 20 years until retirement. But that is not how that works.
Not sure. Amazon is more of a technological / societal sea change isn’t it? What could the local Victorian textile workers have done to combat the new factories?
I mean for some things it might be too late now, but there are still local shops going strong. They simply offer other services that Amazon does not. Repairing for example or initial setup. Obviously this approach cannot work for everything, but Amazon was not inevitable. It was the book shops not changing their relaxed lives that made the free shipping approach viable in the first place.
Imagine Bezos wealth split among all Amazon workers and them spending it instead of hoarding it like Smaug. That would absolutely have an influence on the economy
I don't understand why this still keeps coming up. The reason Bezos and Musk exist and have yachts has literally zero effect on everyone else. Nothing would have changed if the billionaires didn't exist.
The problem is that people don't have shitty lives. It's that they're comparing themselves with the 0.1%. If you want to see true shitty existence and poverty go to Africa and Bangladesh and India etc. Don't fucking cry on your iphone while sitting on a toilet which you will flush with drinkable water that you have a shitty life. God I hate people so much.
Don't hand it out then. Enable universal healthcare, support unions, mandate better pay and less off shoring jobs then let the people choose how to spend their own money.
You mean Bezos doesn’t have a Scrooge McDuck style vault of gold coins? His wealth is a theoretical calculation based on the highest value his shares of his company currently go for and does not accurately represent the liquid value he can achieve? Who could have thought?
For bezos to hoard wealth, he’d have to cash out on all his assets and store it under his bed. Literally everything else, his money gets used by banks to reinvest in the economy.
How to become a billionaire without exploiting every possible resource and person:
Step 1) Start a company
Step 2) Company becomes very successful, employs a lot of people, you are now a billionaire, you don't actually have a billion dollars in your bank account like redditors think, you own a majority stake in a company worth billions.
So what do you propose should happen? Should they be forced to sell their stock?
Maybe they should try fixing this broken ass system.
And not by making donations that barely graze their net worth. By making politics. By supporting universal healthcare. By supporting empty land redistribution.
Their ownership of the company should have been diluted by rewarding shares to the employees that built the company up in the first place. The issue herein is that we give the majority of rewards to the founder and never to the thousands of employees that also significantly contributed to the company.
When an owner or CEO oversees a company that is not profitable, they lose their income, yes.
Before someone brings up the "golden parachute", that happens to specific employees who have these agreements in their contracts, not owners. Most non-publicly-traded companies where there is a private owner, if they lose their income, there is no such mechanism. They can declare bankruptcy, but that's not a golden parachute.
And if those companies fail, the owners bear the losses, you're proving my point. Not sure what point you're trying to make, you originally questioned if owners take losses.
And your point is moot since it's not the point of discussion. Nobody is arguing against John's catering company, or Jack's mechanic shop. People are arguing against Jeff or Elons empires with more power and wealth than Mansa Musa.
When the company was started, he took the risks. If the company didn't become successful he would be the one bearing the loss. Now he should just hand it out to everyone, just because?
If they were given stock options, then possibly. The comment you are replying to is suggesting that they be simply given shares at no cost as a compensation. So if the company fails, their shares would drop to zero and they would simply not get the extra money.
I understand the comment, you don't understand my point. I think that early employees of Microsoft were awarded stocks and are now millionaires, I'm not sure is that common practice with other big companies, but they were paid in those stocks for their contribution when the risk was tangible. What you are proposing is that I should get employed by Amazon, and that Bezos should give me stocks for free, but when the company was started and it wasn't on the stock market, if the company had failed, Bezos would be the one facing the consequences of that failure. What you are saying makes no sense.
I dont think you understand that you can own shares in a company that isn't public. This is somewhat common in the startup space. What I am arguing is that the split isn't fair, especially considering founding engineers tend to be awarded pitiful percentages less than 1% despite the considerable risks they're taking by joining a startup.
Amazon wasn't a start up, nobody forces them to join a startup and they are aware of what they sign, and you are now just diverging the discussion. I mentioned in other post that people who worked in Microsoft when it started and helped build it up were rewarded stocks and are now millionaires, but those were dozen of people who were paid in stock when it wasn't sure what would happen. Company could have failed, and then they would have been paid nothing. But that's not what we are discussing. You want thousands of people who helped ˝build the company˝ be awarded stocks, even though they signed a contract with the company and were paid for their work. They took zero risks, they weren't there when it wasn't sure would company succeed, and they were paid for their work, but now Bezos should just give to those employees stocks for free. Why? Because fuck it. You people are delusional.
I don't think you've ever founded a company or have ever worked in tech. You don't know that you can own stock in a private company and clearly don't understand that employees of Amazon do get stocks as part of their compensation package even as new grads. My argument is that stock based compensation should be a more significant part of the pay package as opposed to the pittance it is today.
You are either not capable of understanding what I'm saying, or are purposefully misinterpreting it. I do know both of those things, but they have nothing to do with your claim. You said their ownership of their companies should be decreased by giving larger part of shares to the employees. Awarding certain people with certain amount of shares is what is going on now, what you want is that he gives huge amount of his ownership if not majority to people who work under him, are paid for their work, and didn't take any risk when the company was started. Like I said, in Microsoft case people who helped build up company were awarded with enough shares to make them millionaires, you want that to be spread to 1000s of people, not understanding how stupid that is, and I bet you wouldn't do it if you were in his or their position. Now cheers, I'll be leaving you and your stupid ideas.
Actually I work in high frequency trading and extremely high stock options/ profit sharing for normal employees is the norm. As a result median salaries are well above 300k. Sorry you don't think your contributions are worth making more than 1% of the CEO.
They only lose their jobs, of which they are aware as the owner is aware that his investment can and probably will fail, if you invest your money in a company and the company fails, you lose your investments and in many cases much more.
That's not a responsibility that shareholders or founders already have so I don't see why they would. It's called a limited liability corporation for a reason.
You forgot that he started the company and brought it to that level. So if company fails at the beginning, which in first 5 years seems to be case for majority of companies, they shouldn't be included in any risks, but if company is successful, they should be rewarded?
The founder doesn't take losses to begin with. I don't think you understand what an LLC is. The founder is not responsible for the company's debts. In the case of a company failing, their shares would go to 0 and this would hold true for both the founder and employees.
If company failed when it was started, he would be the one losing the money. You are talking about something that happened after the company became successful.
Okay, so what percentage should the founder retain? Do they keep the majority so they can still make the key decisions, as they have proven themselves capable of to that point in making the company successful? Or should the decision-making power be placed in the hands of people who have no idea what to do with it? The company fails, everybody loses their income... but you stuck it to the founder, that'll teach 'em to start and run a stable business.
I do think there should be better mechanisms in place to donate stock to charity without losing ownership rights. The corporate consolidation model we have now puts so much emphasis on stock price that so many business decisions are made that only serve to temporarily boost share price. Maybe if executives were getting less personal gain from those stock price increases, they’d be more open to actually looking at business processes that are sustainable in the long run. As of now, as long as you can cash out before the company collapses under the weight of short term decisions, there’s no incentive to not just kill the golden goose.
So, they’re a ‘paper billionaire’—still profiting massively from other people’s work. Whether it’s in stock or cash, it’s all built on squeezing labor and resources dry. No one’s saying they’ve got a billion in their checking account, but here’s the thing: they use that stock as leverage to get massive loans at ridiculously low rates, paying little to no tax in the process. It’s wealth they can access without ever having to sell a single share, and all while the rest of us get taxed on every dollar we earn.
I feel there's a lot of steps between starting a company and becoming a billionaire.
Besides our economic system is very inherently competitive. Which means if you don't cut costs and invest more into your company someone else will, and what that often includes is being exploitative of your employees.
A fairly big percentage of operating costs of even companies with a few employees is the salaries. If the field is oversaturated with workers (or you don't need specialized workers) you can generally pay them pennies as there's always someone desperate enough to work.
So companies are naturally very prone to getting very exploitative.
I suppose your best bet for becoming a billionaire ethically would be being an artist or like a lone coder who makes something extremely important.
People who accuse billionaires of “hoarding wealth” don’t realize that wealth can be created. We don’t like in a zero sum game lmao. It’s not like we’re all poorer because bezos is richer.
Sad state when nobody knows the difference between wealth and liquidity. Sure people like Bezos, Buffett, and Musk are wealthy; but most of that wealth is tied up in their businesses being valuable. Market Realist puts Bezos cash on hand at $12.7 Billion, which is still a huge sum, but just because someone is worth $119B doesn’t mean they can quickly access it.
Le capitalism is bad. Please update your Reddit talking points. Capitalism isn’t inherently more exploitative than anything any socialist regime would implement, in fact it’s much less so.
Socialists won’t admit that nationalization of industries is more monopolistic than anything Jeff Bezos could ever dream of because everything would be owned by one single entity: the state. And it has its own army to force its will onto the populous. You just have to hope the regime is a friendly one that is willing to give citizens/workers any rights because if it isn’t you end up with a system like the Soviet Union where the only employer is the state and is extremely repressive, and there are no alternatives because private enterprise is outlawed.
You're very clearly confusing socialism with communism. In most interpretations of socialism I've been exposed to, the state does not own businesses. The people working at those businesses do.
Don't forget the part where it's a classless society. Except for those people who are party members and control everything and all bought in 100% who definitely do not have any desire to own more than anyone else.
And then don't forget the dozen ultra elite in the selfless-happiness-of-the people-bureau-commitee that are not just kings in all but name.
I swear you name your party socialist and say it's for the people and people will goose-step with a smile and their arms raised. Marketing is the only thing that matters in the world
As opposed to every other system that has been tried amongst humans? I mean, dude, 'Tombstone' by Yang Xisheng is a ~1000 page tome which is a testament to what our alternative is in practice. I recommend owning a copy but it is a tough read.
The answer to the bad things that you're seeing has to do with power consolidation, monopoly, and artificial interference in markets.
The moral decay of greed and consumerism has to do more with cultural change. It is not fiscal policy that enables people to have choices.
I can understand why you see these people with incredible wealth and look at them with (to be light) contempt. But redistribution, collectivism, centralization, and bureaucracy are the tools that those very people--or others who will take their place--use to subjugate the many.
The free market is amazing and why we're able to argue on this post. It is collusion, monopoly and power centralization that is our enemy. Not wealth or market economics.
It is fiscal policy that pushes those people towards those paths. Also you do realize those "cultural changes" are incited by the same system you're defending? Big corporations actively and successfully shift public perception towards being more consumeristic, it's called marketing.
Power consolidation and monopoly are the only logical conclusion to markets without interference, whether your belief in the "invisible hand" likes it or not
Adam Smith, the father of free market economics, envisioned a role for the government in markets. First it was to provide goods that would not be produced, second it was to ensure the conditions to allow for free enterprise and competition in the free market.
Free market economics isn’t simply absence of government intervention, it is about the government helping create and maintain a free market economy allowing for competition.
This point has been made by some of the earliest free market thinkers, such as Smith. They recognised the governments role (and duty) was to intervene to prevent monopoly and power consolidation that would hurt the free market in the long run (by making it no longer free). Some free market thinkers such as J. S. Mill even advocated for a radical inheritance tax to break up the land holdings of wealthy individuals so that the next generation wouldn’t have an unfair (and uncompetitive) advantage.
This isn’t the gotcha you think it is. In fact this point has been part of free market economics since its inception.
Sure if you believe that name a monopoly that came about due to the market without interference? And I mean an actual monopoly not just majority share of the market like big steel had. 100% of a product not counting something that is brand new.
The more we can make government offices compete with one another for power, the more they'll be inclined to nip at big companies pushing up against that power.
Right now, in the US we have a congress that's delegated a lot of its power away to the executive branch. People just become congressmen for a paycheck. My understanding is that reversal of the chevron decision will now force congress to pass legislation and argue it over rather than let unelected bureaucrats simply wave their hands and make things illegal. In turn, it changes that congressional seat from some kind of simple cash cow lobbying handout job into a job competed over by the power hungry (who compete with each other).
If the rich and powerful are at each other's throats, they don't have time to put the boot on ours.
It's similar to why I love superyachts. Those stupid boats are like sacrificial anodes for people who would otherwise be horrible megalomaniacs channeling that energy onto us. Some horrible oil billionaire is out there arguing with some ship architect about what kind of candleabra they want on the bridge rather than arguing about how they want to fund some kind of subversion of a sovereign nation or some other insidious behavior.
yes it is you restart. At any given point it's a bandwidth issue, there is only so much available x commodity available. Land, gold, copper, lead, pewter, water, air, whatever.
Billionaires like Bezos are scum but slogans like “exploiting every possible resource” and “hoard wealth” make you sound completely ignorant on the topic
Pretty sure everyone who invested in Amazon made a ton of money along with Bezos. Including basically everyone’s 401k and pension fund as well as the government itself.
depends on what you consider explotation. His working conditions are abhorant and I don’t know how much sway he has in governmental decision making but any tinkering with the democratic decision making should be harsly punished. However if one becomes a billioner by being a good buisnessman there’s nothing wrong with that. A person can creates wealth for himself
Yea before we had serfs and lords which was functionally the same system. A working class and a ruling class. Putting a different name on it changes nothing.
And it's pretty terrible to view poverty as an individual failing that you have complete agency over. It is a systemic issue. Poverty doesn't need to exist inherently and there silently of people who put in effort but can't dig themselves out of poverty.
There is a difference between everyone being wealthy with disposable income and everyone having their basic human needs met. Maybe your definition of poverty is the issue.
Literally no system ever, since the dawn of man has had no poverty, the literal closest we have ever come, is the U.S. for the past few decades, Even the poorest people in the U.S. live better than a sizeable chunk of the rest of the world.
You want an impossibility because it sounds nice, but it's still an impossibility. Your grasp on reality is the issue.
We have the resources to solve homelessness and hunger in the US. The ruling class intentionally chooses not to. Poverty as it exists is not necessary, it is a deliberate thing we choose not to solve.
We have actively tried to give homeless people housing, we have food shelters open across the U.S. yet some people choose to either not use either, or use the housing and then instsntly destroy it and leave.
Literally just look at california, they have tried to give out free housing to the homeless and it failed miserably, because suprise surprise, when homeless people exist in one of the wealthiest and most class mobile lands to ever exist, it's because a lot of them have some sort of mental illness or several addictions. Not all, not even most, but a fuck of a lot and that's for sure.
See, that's the issue that throws a wrench into all these utopia plans people come up with. People. Humans can be kinda fucked up, some humans want to be homeless, yea it sounds insane, and it's next to impossible to understand, but some people prefere the responsibilty free life that comes with having no one and nothing to care about. All these solutions work on paper, when you ignore that humans are a flawed species, and the only way you could have one of these plans even attempt to work is if you 1984d the whole country
As someone who has tried to seek affordable or free housing, I can tell you that isn't a thing for the vast majority to access. Food access is still limited. Any subsidized social programs are socially stigmatized.
And maybe some people take advantage of the system but so what? Do you expect people living on the streets to be mentally healthy and functional adults when they've been broke and neglected for years? Do we think every person who's homeless is a drug addict and going to destroy property they're given?
The vast majority aren't going to abuse systems when given support. We have plenty of evidence that these systems help people and lead to better outcomes.
And also even in California, it costs more to allow homelessness to continue than to solve it. And that's true for everywhere else. It is literally more expensive not to deal with it.
"We have plenty of evidence that fhese systems help people and lead to better outcomes"
We do? California is the premier state for programs to help the homeless, it's also the state with the most homelessness.
It's almost like if you develop a system, where people can reliably live off of it, whilst contributing absolutely nothing to society, people will flock to take advantage of it.
This is so braindead stupid it could only exist on reddit, yet, even still, it is shocking.
Amazon employs 1.6 million people. Society made Bezos a billionaire by using his service. You have a problem with poverty, take it up with the government which has TRILLIONS of dollars and audit federal/state agencies to see where our tax dollars are actually being used
The problem is that productivity per hour of labor has skyrocketed in the last 100 years, and that increase in wealth has gone almost exclusively to the top 0.1%. The rest of the world produced 1000% more than they used to, but only kept 10%.
Yeah, because it's a wrong sentence, the actual reality is that there is less absolute poverty now in the whole world than at any point in human history.
Wealth is not a zero sum game. Let's say you invent a drug that increases the average healthy lifespan by 5 years and become a billionaire selling it. You didn't take the fortune from someone else, you created wealth out of nothing by increasing the healthy years of people and benefited from that. The other people also benefited.
No no no. Whenever you earn a dollar, that dollar has to be stolen from some poor worker in India because there's a finite amount of banknotes. Buy my course to learn more.
It's absolutely not a different topic. I'm talking about the inappropriate distribution of wealth and poverty which is intrinsically related to megacorporations and wealth hoarders.
And nobody said everyone should be rich. There is a difference being being rich and having a reasonable minimum quality of life and livable wages. I don't think not being homeless and insecure worrying about food and healthcare is "rich".
Wealth is not 'hoarded' lol why do you Redditors talk so confidently about something that is literally not true in any sense. Have you ever taken a uni econ class?
Beezo’s has made consumer goods cheaper and more readily available to the masses. You can literally buy anything you need off Amazon 99% of the time cheaper and have it delivered to your door. This is a great thing that has benefited the poor of this nation and provides everyone else a means to stretch their dollar. Now the bad part of that is it has destroyed most local economies, brick and mortars, mom and pops, and put people out of jobs that manufactured these items and worked in these stores. It has polluted our world with cutting down trees for cardboard and an over flow of unwanted clothing items that we literally ship overseas to Africa because we have no room to dispose of it all. The pollution caused by ships, planes, making cardboard and delivery trucks is what is literally making all of us worse off than if we confiscated his 206 billion net worth and dispersed it equally to all 350million US citizens which would equal to around $588 dollars each. His real crime though is what he’s done to Tolkien’s works.
It's not fair to just look at the pollution created by Amazon as a gross cost to the environment. We should also consider the pollution Amazon is displacing. It is much better for one delivery van to drive around a neighborhood dropping packages off at 50 houses than for 50 people to all drive to Walmart and Home Depot.
The pollution caused by ships, planes, making cardboard and delivery trucks is what is literally making all of us worse off than if we confiscated his 206 billion net worth and dispersed it equally to all 350million US citizens which would equal to around $588 dollars each
While I see your point, I have to say that giving each and every US citizen $588 would decrease their purchasing power by a lot more than that
His business has dramatically improved the quality and convenience of life for the vast majority of humans on this planet. It's not even just through ordering from Amazon. I put up a backsplash last month. The fact that Amazon could drop off a bag of mortar, a box of tiles, a tub of grout, a trowel, a floater, and a tube of silicon at my front door the next day is what forced Home Depot and Walmart to start offering delivery. Does anyone else remember when we had to drive around all day buying shit in person in order to get anything done?
Yeah, he got rich. Good for him. That doesn't hurt me.
I mean is that completely true? What about people who have earned their wealth in a single generation through their own talents? Like her politics aside, did JK Rowling act unethically to earn the $1B that she’s made off of writing the Harry Potter franchise?
You realize the government makes over 4 trillions of dollars through taxes? They spend around 6 trillion occurring debt and through money printing. The reason you have poverty is because
Poor people are dumb at financial education.
Poor people don't get the proper education opportunity.
Broken families.
Drugs and mental illness.
Stupid life choices. Going into art or feminist studies instead of money generating jobs.
It's not that hard to NOT be in poverty, most people in poverty aren't the most well adjusted people. And taxing 100% of Bezos will give you 3% of what the government spend yearly... Only once and will remove all investments out of the country.
Wealth tax has shown never to work and actually drives investments and wealth away from a country.
Higher progressive taxes work. Taxes should be increased for funding government projects but not due to spite "OMG BEZOS MAKES X AMOUNT!" isn't logic driven, it's just spite monkey brain driven because you lack understanding of economics and want to blame couple dudes in the top.
Jeff Bezos didn't do anything wrong - We all gave him the money by using amazon (which rocks) and prime video and such things. We voluntarily gave him the money and now some people want it back.
Even if there was an ethical way to earn a billion dollars (let alone 206.6B) the very fact that we allow that level of wealth to be locked up with one person in our system is criminal. Money needs to flow through our economy to generate human prosperity, when it lands in a billionaire's bank account it's essentially just sitting in a blood clot.
Buying stock on the secondary market doesn’t fund businesses. That only happens when companies choose to issue treasury stock, which isn’t that common of an occurrence. Even if billionaires invest in stock, they aren’t doing much to stimulate the economy
"No, you don't get it, I too will have 200 Billion dollars someday if I work hard enough, please don't advocate against my future interests. Anyway, back to my job at the depression factory."
Liquid asserts are the money in hand. Assest like stock and bonds still circulate in the economy, investments made in a company pays the employees and company expenses that you can't just pull out. Ex- bezos invests 1b in a company, now he still is worth 1b but he can't just pull it out from there, or he purchases stock worth 1b and then its value increases to 1.5b, he is worth 1.5b but that doesn't mean he can just pull out 1.5b out of pockets.
If we have the political will to do a wealth cap, we can figure out some facility that allows for his wealth to be redistributed without hurting the productive sectors of Amazon.
But also, that's not how equity in a publicly traded corporation works
Your point is that illiquid assets shouldn't exist? Or that they shouldn't be owned? I don't think bezos should hoard all his wealth in a giant pit of gold coins that he occasionally swims in either so we can at least agree there, fortunately thats not happening so no reason to be upset :)
I'd support a wealth/income cap. No one should personally control that much resources, we got rid of kings and I don't remember having an election to decide that Bezos gets to have that kind of influence on the world.
You don't seem to understand how this wealth is characterized, it's not billions sitting in his checking account and its not giant money pits, try to understand how wealth works before putting yourself in charge of it
Holy shit if you have a way to make bezos's wealth even more productive we should go tell him right now and we can split the finders fee lol. But your gonna say some stupid shit like bezos should sell all of his amazon stock and spend the money on fixing world hunger, but now the guy bought it owns a speculative asset just sitting there being unproductive 😱
No, I don't want him spending it on fixing world hunger, I want it circulating in the economy, so we can use it collectively and democratically to decide where we spend it. I don't want any 1 man having that kind of power.
He did a very good job getting rich, he can keep 2 mansions and a yacht.
The problem with Bezos wealth is capitalism. He's worth billions because people want whatever he has, and it's not socially acceptable to just stab him and take it for myself. So instead he's worth as much as people are willing to pay him for, which turns out to be a lot. Now people could pay him less, but that means he doesn't have to do as much either, not that he was doing much in the first place. But the less he does, or rather the less he let's other people have from him, the less everyone else can take from him.
Nor is it socially acceptable for a group of people, such as say a government, to go to someone and say "You make enough money, everything you make now goes to us, also you need to keep up production to the same level". Otherwise, people start crying communism or some shit and start worrying they're going to have to stab eachother to keep their wealth.
Except that in the case of Bezos that illiquid assets is stock in his company Amazon that is a major employer in the US employing tens of thousands never mind international employees, a major vendor that moves products that are not only theirs but also third party small businesses that they allow to sell on their platform, and a major tax revenue producer thanks to income tax from all their employees, states taxes, property taxes for their many many warehouses, etc. If you liquidated all bezos stock and put the money into idk what you'd collapse Amazon at the same time.
You're right, I completely forgot that if Bezos is forced to sell his shares he won't be incentivized to personally code the AWS infrastructure or load the boxes in his factory anymore.
Sorry my bad for assuming your more intelligent than average college age socialists.
Think of the stocks he owns like Amazons bank account.
He can't touch that money because Amazon needs it to run.
If Bezos takes all the money Amazon has no money.
Amazon having no money means Amazon can't work.
Amazon no work Amazon no pay employees they all go hungry. Amazon no work Amazon no pay for their warehouses, ships, planes, etc so all the taxes they generate go bye bye. Amazon no work everyone who has Amazon sell their stuff online no have online store no more so they go bye bye too.
So bezos can't take all the money in the bank account because that would be bad would hurt economy.
If that explanation doesn't work for you I suggest buying an economy for dummies or stock for dummies book. Have a good night kiddo.
Do you think that when you sell a stock the company gives you the money for the sale?
I'm not suggesting that Bezos be forced to drop 200B in Amazon stock on the open market (although barring some equity backed loans, tanking the stock price wouldn't affect the actual productive part of the business which actually employees people and produces things.)
If the political will existed to bring a multi billionaire down to earth, the facility by which their assets would be redistributed could be figured out.
Just because you're trying to explain something in a patronizing way doesn't make your analogy any less shit. Amazon does not use Bezo's stocks to run, that's an absolutely asinine way to describe what equity in a public company is.
We all know that, but buying stock on the secondary market doesn’t really provide much utility to the financial market. The problem is that wealthy people don’t spend even a fraction of their net worth, it just sits in a pile and gets bigger. That’s why tax cuts for the wealthy fundamentally don’t work, they aren’t spending their money. Tax cuts to the poor do a great job stimulating the economy, because they’ll actually go and spend the money on things
When you're a billionaire its just semantics. He can instantly get cash loans for virtually any amount using his assets as collateral. When a billionaires's net worth goes up by 100 million in an hour that may as well be cash in the bank- cash that's not going to the people who actually produced it
Damn you're so fucking dumb. A loan would make the money flow even more than having it in the bank as he would pay interest to the bank if anything of the bullshit you're saying had any roots in reality.
It's largely the same. Businesses buy up property, charge more for the property. As long as they hold the property, it isnt money, but it is still value.
It doesnt end up in a billionaire's bank account you ignorant moron. It gets invested into businesses so money flows through the economy. Bezos isnt that rich because he has a shitload of cash, he's that rich because he owns a lot of stock. You're an idiot if you dont understand that.
hen it lands in a billionaire's bank account it's essentially just sitting
Quite the opposite actually. Poor people have money. Rich people have assets.
Put 1000 bucks in a rich man's hands and he'll have it invested by the end of the day. Put it in a poor person's hands and they'll hide it in the mattress. There's a reason 20% of the world's printed US dollars are in Argentina.
Poor people with their limited access and knowledge of investments and applications are the ones that leave money idling by for a rainy day. The rich always invest.
This is also why inflation hits almost exclusively the poor. If i have 1% of a company that makes 100 cars a year, my income from that is 1 car a year. Doesn't matter if inflation makes everything cost double, because then the car will cost double as well.
Having billions of dollars in assets is borderline impossible. It's likely in stocks but that isn't different than holding assets in cash value other than for tax reasons.
This is possibly one of the dumbest fucking things I've ever read. It is literally impossible to hoard that level of wealth.
You have no idea how economics or basic finance works. Take some time and look into fractional reserve banking then take some time to learn what an asset is and how they function.
Benzos isn’t the sole one holding the diamond ring over the baby crip though, a wealth like him is collectively agreed upon by his workers and hr. When you work at Amazon warehouse for 15 dollars you’re agreeing your labor is worth that because HR agrees you’re worth that. Your local store owner isn’t a millionaire because he pays what he can to get the help he does based on the value of his business. The long and short of it is manual labor jobs are gone in 30 years so why waste 26 of those working for peanuts?
Him and people like him who hoard wealth are the reason we have poverty.
They're not hoarding wealth. It is invested in the economy. Owning a business, or part of a business, contributes to the economy.
Innovation is the reason people like him are billionaires. Innovation causes the opposite of poverty, and is why the US is the richest nation on earth.
You dont make a billion dollars without exploiting every possible resource and person you can along the way
Absolutely not true. And don't give me the reddit bullshit of paying people a wage they agree to being exploitation. If I agree to trade my time for $100/hr and then you are able to make $200/hr from my time, that's not exploitation.
There's no ethical way to become a billionaire.
JK Rowling? Stephen Spielberg? Those are the easiest examples, but I could pretty easily make an argument for many billionaires, who simply are business owners at large scale. Owning a business is not inherently unethical.
Some billionaires are absolutely unethical in how they became billionaires. That doesn't mean all billionaires are unethical.
Billionaire are a product of globalisation in a world with 7billion people. You as well as billions of other people have used the products and services Jeff Bezos has brought to the market (taking financial risk in doing so) same with many other such people there is no exploitation in what he is doing you are free you buy products somewhere else and his employees are free to work somewhere else
Did you unironically say Amazon doesn't do anything exploitative??? You just choose to ignore the low wages they pay their employees, abusive working conditions, anti-union practices, ecological impacts and environmental damage, crushing any competing smaller businesses and buying them out at extremely low prices to force them out of the market. You just live in fantasy land where they're r a perfect saint???
You don’t like him I get it. But there is nothing unethical about offering a product or service billions people freely choose to use. And yes no one is forced to work there. I don’t think he is a saint I think he is a businessman running a competitive business.
I don't care about him as a person, I dislike this concept of business practices that have to be ruthless and succeed at the expense of the people and the environment around them.
Everyone states this like it's gospel yet I've yet to see them back up this assertation with anything other than "it's obvious, just think about it, sweaty \~uwu\~"
People like Bezos hold it so people can’t exploit him and he can outcompete.
He sees his business ventures as a way of solving some problems that governments can’t. E.g. revolutionising logistics.
Sometimes billionaires will spend a few years setting aside a pot of a few billion and launch a new initiative, upscaling it rapidly. This has been happening recently with the current wave of ChatGPT replicas. All of them are either startups getting Angel investment, or big tech companies like Google or Musk’s xAI dumping a few billion into their next venture to circumvent the inefficiencies of grassroot organisations.
Lol to the same tune there’s no ethical way to be poor too - always living on some handout and aid money taken from someone who made their money on their own etc etc yadda yadda
If only there was some way for companies to pay people fairly and not abuse labor, underpay their employees, try to break up unions, have unfair working conditions, or be forced to fight with companies outsourcing their labor so they can't even get jobs in the first place which isn't viable in a work-to-survive society. The problem isn't that people choose to be poor...
If only there wasn’t some way to get a better job or education and not abuse the market with your low skill whinging even when you potentially may be overpaid in the first place for trying to gang up on your employer to force them to not choose cheaper labor for cheaper product hence leaving you more money (you forgot the next part), then perhaps it wouldn’t indeed be one’s fault they’re poor to the exact same tune. Make this ethical company yourself or find one that works as an example, I’ll wait.
How are people supposed to fight for these theoretically better pays and working conditions when they're struggling to survive now and companies don't pay them enough to have security to afford schooling or time to seek new opportunities and they break apart unions who fight for those things????
An ethical company structure isn't impossible it just doesn't make as much money for people at the top so why would the people in power choose that?
But worker owned businesses are a thing. Businesses that pay livable lowest wages and have salary maximums exist in relation to the lowest paid wages in the companies also exist. When you aren't paying CEOs 2.7million per year and distribute pay fairly accross your company then it's easy to pay your workers a livanle wage.
Most of his wealth is theoretical in that it's bound in the amazon stocks he owns. The money is not taken from the economy until he sells off his stock, so it's not "hoarded".
No people who don't understand how wealth works are the problem. You are fucking small minded and really believe that he has the cash on his account. His "wealth" comes from the fact that he owns multiple very huge and successful businesses.
But people like him aren’t why you have poverty. There is absolutely nothing that says if they didn’t exist the money would be spread out or “evened out”
Even if it did there is economic evidence to suggest that poverty can never disappear.
People like him are buying the media and the politics so the money don't get spread out. You don't even have a true leftist party in the US. You're getting cucked to a point beyond measurements.
Yea I guess we will just ignore Amazon's exploitative working conditions, low pay, insanely high employee turnover, the lawsuits against their working conditions, anti-union actions, their predatory buyouts of smaller companies under abusive conditions, etc.
The point is that Amazon isn’t responsible for everyone else being poor. Yes they have shitty practice but that doesn’t mean they are responsible for the rest of the world.
Amazon and other megacorporations like them are explicitly problematic and cause an increase in poverty while simultaneously lowering the quality of life of the people living in poverty. They destroy local economies and make it impossible to compete. They have terrible working conditions, terrible wages, and force a lot of their employees to survive on social systems (which are themselves good but should not be a means for companies to underpay their employees like Amazon and Walmart so).
Both can be true at the same time. I agree it is not exclusive their fault. The system allowed them to exist and operate the way they do. But also the wealthy hold the power and lobby for their own interests and benefit so that is part of the issue. These companies are the ones who buy politicians so they can keep operating the way they do without obstacles or minimal if any interference.
Jeff makes 88k a year as a salary, and his bonuses get him to 1.5 million a year. Bezos' net worth is entirely in stock in unrealized gains that track entirely onto the performance of his company. Reich know this, but he also knows you stupid fucks are barely smart enough to sometimes know your left from your right, so it's really easy to trick you into believing a man makes 9 figures in half a day
I agree its phrased incorrectly, but His income is completely irrelevant lol, he could pay himself 40k a year and still live in absurd luxury. I think it's completely fair to say that bezos has access to tens of millions (or whatever the amount is) more at the end of the day than he did at the beginning of the day. Just because it's mostly in asset appreciation doesn't mean he can't spend it (or borrow against it)
this how you know everyone on Reddit broke asf, I'm getting called a glizzy gobbler for not being all negative and shi about Jeff bezos donating to charity
No he doesn't lmao. The way most people this rich get liquid money is by taking loans out with part of their equity as collateral. Sure, he could go take out another loan to get more money, but it's not as if he has a bank account that just gets deposits based on the stock growth of Amazon.
So what you are saying that he can use his company stock to have access to millions a day and his salary and bonusses don’t really matter? Exactly what the comment you commented on said?
"Has access to" and "can get" are entirely different things. Having access implies that money is there ready to go every day, which like I said is not how it works.
You're wrong about how much spending money he has yearly. Sure he only "officially" makes 1.5m a year(which is already exorbitant for how little he does compared to the people he exploits)
BUT, the Uber-Rich have a fun little thing called Tax-Free Loans. They basically partner with a checking union or hedge fund, take out massive loans against their infinite net worth, and because they have so much value, they have basically no interest over a long term. As such, they now get hundreds of millions in spending money with 0 taxes on it, get to claim they are in debt at the end of the year to evade more taxes, all while gaining more and more wealth by exploiting those beneath them and lobbying politicians to make it even easier.
If tomorrow he sells 0,01% of his stocks, he can buy your house with your family in it and not be affected. Do you seriously believe he only uses the money from his salary?
Ignoring for a second that he sold 3% of his net worth equivalent in Amazon stock recently- so you're straight up wrong- he doesn't actually need to sell anything to tap 0.01% of his net worth as cash. Banks will give a near 0% loan based on his 100B in assets.
If he actually only got 88k a year, he wouldn't be able to own a superyacht. It doesn't matter what his salary is on paper when he clearly has access to more.
But yeah, we're the stupid ones for not thinking he makes 88k.
That because people can get loans using unrealized assets for liability. Upon death the estate will sort out the debts. Until then it's a legal method to avoid capital gains tax when cashing in on the value of stocks and bonds.
I'll be honest the only policy i've heard against this method is taxing unrealized gains on cumulative assets over $1million by harris. Which of course will be both a regressive tax and cause a massive collapse of the markets. Not to mention the wealthy will then just book it to malta or ireland and buy citizenship to avoid taxes.
Which of course will be both a regressive tax and cause a massive collapse of the markets
The reason to avoid regressive taxes is to avoid income/purchasing inequality. All tax code has a top tier, so you could argue that even income tax is regressive to people making more than 250k/year. A cap on unrealized gains over 100M (not 1M) isn't going to make a difference to that individual other than buying a smaller yacht.
cause a massive collapse of the markets
'Wealth' is moving out of the markets is a net positive. Its only there because crazy low capital gains tax and stock buybacks. Both of those things are a net negative to everyone but the top percent.
wealthy will then just book it to malta or ireland and buy citizenship to avoid taxes
They'd have to renounce US citizenship, and pay exit taxes on unrealized capital gains. If they want to do that, I'll buy them a coach ticket to the shit hole of their choice with lower taxes.
Its crazy how a party can be so desperate to portray themselves are rebellious martyrs fighting for liberty and freedom and at the same time so heavily suck the cock of authority and capital so long as they do or say some petty words about God, Gays, and Immigrants.
Dude this isn't even about left wing or right wing. We just don't want money being channelled onto the lap of someone who doesnt need it while everyone else is struggling.
If I gave away half my money, I would not be able to survive til the end of the year. If Jeff Bezos gave away half his money, he would still be among the richest people on the planet, and would still have more money than I could ever amass in a dozen lifetimes.
And it would run the federal government for less than 2 weeks. Now we saved every American there taxes on one paycheck. Most people probably wouldn’t even save more than a few hundred dollars this way.
Government needs to spend on the right things, otherwise we’re just stealing from the rich to build more useless shit for the military industrial complex.
You can make your point without being a massive prick. Well, maybe you can’t. One can. And adults should learn how to do that.
Sure, he can live in unimaginable luxury without half his wealth, does that mean you have claim to the other half, or that he has an obligation to part with it?
That also dodged the point I made about kidneys. I love a person telling others to learn how to read but can’t respond to the single claim made in a comment :)
If I had money to give without significantly taking away from myself, I would. Jeff Bezos is set for life and has more money than he could ever realistically hope to spend. He can afford to give more than just one day’s worth of his income.
Look at Mark Zuckerberg. He might not be that much better of a person, in the grand scheme of things, but at least he doesn’t hoard his wealth like a goddamn dragon or some shit.
Cynicism isn’t a terribly fun philosophy to follow, nor is it a good way to judge the morality of people and their actions.
Also yes, I would give money to those in need if I had money to give, because it’s the right thing to do. You shouldn’t judge people’s character if you haven’t the foggiest idea what they’re actually like.
If half my money was enough to 50% end world hunger and I'd still be left with more than I could possibly spend in a lifetime then yes, I probably would.
Depends what I'd had to do to come into it, which is half the problem: if these fuckers have done even half the stuff they're frequently accused of I think I could see myself lacking the moral fortitude to kiss goodbye to my money.
The problem is deeper anyway: money = power, and people are far less willing to part with that. Get money out of your politics and increase VAT on luxury spending to start with.
Let’s say it like this, I’m willing to give away all of my money that surpasses, let’s say, ten million. At that point there isn’t extremely much use for it anyway
No one yet, but if one person has enough wealth to outshine a few million households, then it’s probably too much. Heck say one billion is the limit and it’s still to much, even if better than now by far.
I did for a couple of months when the parents of one of my classmates got sick and were unable to work. It was great to be able to help them get back on their feet.
I work a really shitty job and I give quite a lot to the homeless people who I keep seeing on the way to and from work or just when I'm out and about, probably about 2% of what I earn, realistically.
Jeff bezos donating the same amount would be a donation of 4.13 billion USD. I can't imagine him going around giving that sort of money out any time soon, and what is proportionately pocket change to that man is more money than I could spend in a lifetime if I tried. Like I'm pretty sure you could turn the Isle of Man into one giant, fuck-off ball pit for that sort of money and still have some left, it's an insane amount of money.
I don't mind being called a socialist for thinking that having BILLIONS in the triple digits is ridiculous. Even one billion is an absurd quantity for one person to have, 206.6 billion is so much that it just trivialises the idea of money itself. "Work harder for more money" stops making sense when I would have to work my current job for ten hours a day, 365 days a year, for over four million years to make the same amount.
$2,606,000,000 is a stupid amount of money, and nobody needs or deserves anything in that range.
I’d give away about a third of my money… which I and most people do through taxes. Are these guys similarly “giving up” a third of their income? Or is it effectively substantially less because they’re able to game the system the way normal people can’t?
Don't get me wrong,The wealthy really should be giving more than they do
So, what is your point here? You acknowledge that they have a almost unfathomable amount of money, let alone be able to spend it all. They get that money through exploitation and monopolistic practices. They could donate 70% of their wealth and still have enough money for 5 more generations. It's not the same to ask someone living paycheck to pay check "how come you aren't donating half your income" because it's in no way a comparable situation.
If I was a millionare, let along a billionare, i would, no one needs that much money, you can buy literally anything with a billion, and would have some left. What's the point of having money you couldn't spend? Give it to ones who needs it. Simple enough, testament as old as a world.
I mean the point of my comment was that people should pay the same relatively not nominally. And even then I am okay with having progressive tax brackets instead of a flat tax.
I am not saying it should be 50%, that's way too much.
it is so damn easy to spend money that isn't yours....
True. It sucks we can't hold politicians more accountable when they act irresponsible with tax payer money.
I think that can also be an issue, because it could cause politicians to stop investing because they are afraid of making mistakes, but I think between that and the status quo are a lot of things that can be done
No, the point of your comment was to make a classic right wing capitalistic argument.
“If a billionaire gives away $500m, it’s the same as a person with $100 giving away $50”
It’s a specious argument made to protect the ultra wealthy from being accountable for their greedy and hurtful behaviour. Nothing else. If you’re ok with carrying that can for them, then at least own it.
Strong Shoulders need to carry more. Expecting everyone to give half is stupid, because when someone with average income gives half it is a giant impact on their livelihood, while if a billionaire were to give half he wouldnt actually notice any real difference
You do get that someone who is 200 billion dollars giving away half their money doesn't feel the impact at all right? As opposed to someone who earns 100k a year?
so damn easy to spend money that isn't yours....
It's really not. I don't have that money, so I can't spend it.
If I had a billion dollars I would invest 50% of it, donate 40% of it as well as donate any profits from the investment and the rest I'd keep to live a life of luxury till the end of my days. You can get basically whatever you want with a hundred mil. I could buy a giant yacht and that still only be like a 30-40 million over my lifetime. And quite frankly I neither want nor need a yacht. And Jeff Bezos has 200 times that in total assets.
well charity is actually kind of fucked because every dollar donated, something like 30 cents goes towards the actual cause.. the other 70 cents goes towards paying people working there
No? Not because Amazon have monopoly on online shopping and therefore can do whatever tf he can in many sector, especially labour? Fucker help a lot more people implement actual labour protection in his company than few dozens of these fucking “charity” put together
Economy is not a pie chart that where if one has more, others must have less. Sure, he could better help people that he employs, but surely wouldn't fix things by itself, especially for people that got nothing to do with his company. Said company that in fact generates wealth through products and services.
Him having more money doesn't prevent other people from also having more. The way he could help is with access to opportunities, but that won't fix a country's education and people's personal financial decisions which are major factors in generating wealth.
Just downvote me and move on if you don't want to engage with those points. I'm not even disagreeing, I'm just saying that "billionaires hoarding wealth" is a stupid ass statement that doesn't correlate with how economy works in reality.
His fucking wealth hoarding is not a problem, it’s how those wealth are amassed. Workers protection been gutted for too long that these vulture have so much too feed on and got fat. I dgaf how much these fuckers have, i want the methods these fuckers used to amassed those wealth gone and capital punishment if those fucker try to continue them
I can add a few, union busting gets you sent to The Pit (tm). Anti-Union propaganda also gets The Pit (tm). Abusing tax loopholes and funding any news not based in fact, wouldn’t you know it, The Pit (tm). Treating housing as an investment to make returns off of instead of a requirement for living- The Pit (tm).
Please forward all questions or concerns to your local The Pit (tm) committee.
So how exactly do you determine what counts as union busting, anti-union propaganda, abusing tax loopholes, which news isn't fact based, etc? Who gets to determine these things if it's subjective?
For example, if I as an average citizen say "I don't like unions", is that union-busting and anti-union propaganda that should have me executed?
You gave very broad and vague ideas, I asked for specific things to made illegal.
I’ll leave the specifics to the policy wonks whose job it is to figure out the legalese that would have the best outcomes. I’m not a lawyer, sorry to burst your bubble. I just want good things to happen and bad things to not happen, and the people who do bad things to be put away where they can’t keep doing bad things, like The Pit (tm)
This is exactly the response I expected. Every leftist leaves the specifics to other people. This is why capitalism continues to go strong, its opponents are idiots.
Stop being a larper and go adopt some real political opinions instead of your virtue signalling bullshit.
Go lookup workplace democracy if you want to actually help improve the world.
You can get off your high horse. I have a job and I hope you do too. You can’t expect everyone to spend their waking moments becoming a legal expert. Gatekeeping progress behind people knowing the specific legalese is ridiculous and you know it. This “More Leftist than Thou” attitude is why the Left is a political laughingstock.
I'm not on a high horse, I just don't have my head in my ass. I have a job too, and yet, somehow, I have specific answers. I'm not gatekeeping progress, you're holding it back by being ignorant.
The left is a political laughing stock because it is filled with idiots like you, people who have no idea what they're talking about but just want to feel good.
Also, if you don't know the difference between legalese and being specific, I hope you never do any sort of engineering or anything safety critical.
We were talking about policy prescriptions. You wanted to get into the weeds about it. I don’t care about debating the specifics on Reddit, because that’s a waste of time. I’m not a legislator. If you want to debate the specifics of policy, go run for office.
What’s important is the big picture, don’t miss the forest for the trees. If Joe Schmoe wants the same things as you but doesn’t know “exactly” which policies get there, you can either complain that not everyone is as smart as you and start debating him on communist metaphysics or you can get back in the picket line. The lefty infighting meme isn’t something to aspire to.
billionaires hoarding wealth" is a stupid ass statement that doesn't correlate with how economy works in reality.
Then why the richest 1% owns almost half of the worlds' wealth and that percentage keeps growing?
When you pay for something you transfer your wealth to someone else; what do you think happens after years of inflation and stagnating wages? This wealth gets transfered into the hands of billionaires who, surprise, hoard that wealth and keep acumulating more.
Because having more money creates additional methods of earning more.
And this money comes out of thin air?
Them having money doesn't prevent you from earning money. There isn't a limited amount of money in the world. You can generate wealth.
Them having more money allows them to own all the money making machines and leave you only able to sell your labor to them for money. That's why rent and house prices are always increasing, because rich people buy all the available land to rent it or sell it later at an inflated price, leaving you unable to buy a home. And that's why real wages have been stagnant since the 70's while production (and CEO pay) has grown by more than 300% and inflation has never stopped growing: because the rich literally siphon all the money they can find out of your pockets and into their bank accounts.
They may do it through increasing costs to the consumer, adding taxes on their economic activity onto the final price; they may do it through subpar housing; they may do it through exploiting you directly, enriching themselves off of your work and paying you pennies on the dollar, or directly stealing from your wage (which is a bigger portion of all the money stolen yearly in the US than robbery and breaking and entering combined); they may do it through massive state subsidies. But they are always stealing from you.
When the rich take a bigger slice of the pie, the whole pie needs to grow to keep the ordinary and poor slices the same.
It's OK if the pie grows faster. However it's better for everyone if the pie grows and the proportions don't change to move more of that gain to the rich. Likewise if the pie stays the same or shrinks, more people benefit if the rich slice shrinks.
It does not seem to be the case that the rich slice growing forces the whole pie to grow.
If they were propperly taxed and the money would be used by the state for the people and not to subsidize the ultra rich there would be no use for many charities.
Except if the millionaire got their money by exploiting your work which was worth 200k, by instead paying you 75k, then made a big deal about giving you 2k, then you’re still getting fucked
Imagine if the billionaire was taxed fairly on his excess wealth, and instead of having to rely on charity, social programs were well funded and robust. What a wild world that would be. Eat the rich.
If the equivalent number of everyday people who, when their wealth was combined to equal that of one rich person, were to donate the same proportion of their wealth, we'd call them all tightarses.
The benefit is not the same. It's a proportion of wealth in circulation. And a tiny, selfish one to elicit easy points with simpletons like you.
If he paid his taxes like the rest of us it wouldn't look the same. You can't just avoid paying 1000 million on taxes, give 100 million to charity and then expect a thank you.
It's really not, society is negatively effected by Jeff bezos' whims far more than it is positively effected by his tax deductible donations that he gets marketable PR from
Naw because you forgetting the part where the rest of us have 40 mil left to give to charity because some asshole hoarder. Money = power and power is in fact a zero sum game.
So Bezos’s donation in the post is 11 hours of work (if their math is correct). The median US salary is $59k which works out to $29.69/hr. At 11 hours, that would work out to $326.61.
If you donate $326.61 (or less depending on whatever 11 hours at your job works out to be) to a charity of your choice and post proof, then I will match your donation. If you don’t, then you should really think about why you feel 11 hours is too much for you but too little for someone else.
The difference is that 326.61 can make or break someone’s budget at 59k a year. A single parent of 2 is struggling to make that work in most places.
By contrast Jeff Bezos has all his (basic) expenses fully paid for the next… I don’t know 3 decades?with his “11 hours of work”.
People retire on way less than 100 million and live the rest of their lives in comparable luxury. People do not retire on 326.61. This is the glaringly obvious fact you’ve missed.
Flat tax rates disproportionately benefit the rich because less of their income is taken up by needs.
And no I don’t care that it’s “his money” that he “worked for”. People are dying of fully preventable causes (see the Green brother’s fight against Tuberculosis) and Jeff is sitting on an unspendable pile of money. That is blatantly immoral, WAY more immoral than “stealing” his money if you want to frame it that way.
The average person can’t afford to help, the 1% can, and don’t because they don’t have to. Instead they donate what amounts to pennies to them to get tax write offs and a public perception boost and go on continuing to hoard money.
It’s funny because everyone seems to agree the morally just characters in Robin Hood, Aladdin, and Les Miserables are the ones stealing food to survive, but as soon as it’s about saving real people’s lives it suddenly flips…
I think the difference is my 11 hours of pay covers my food for an entire month. If Jeff Bezos gave away 11 hours of pay, absolutely nothing about his life changes. His 1 hour of his pay is more money than I will ever have in my entire life.
If Jeff Bezos paid his employees better and paid his fair share of taxes it would have a greater net benefit than his 100 million donation, and have zero changes to his life.
The problem is that Jeff Bezos still has like 200 billion dollars to live with. While 100 million is nice, don’t let it distract from the point that 100 mill is .05% of his net worth. Hey at least it’s probably more than he pays taxes lol
If your view of the 1000$ only depends on how you can spend it, then that is true. But if you care where it came from, then your comment loses all sense
His math are wayy off, maybe this Reich guy think net worth=income. Bruh just because my parent homes are now worth $100k doesn't mean my family have $100k as yearly income and think that $ 500 are cheap. Their income are just retirement and 500 are double their retirement monthly salary (i live in small income country).
Hes an accomplished attorney, economist, and former secretary of labor. He knows exactly what hes saying, hes making an analogy since 99% of the country can't relate to having 100B in 'unrealized asset'. Its not apples to apples, but it doesn't make a material difference to the point.
His title doesn't matter because the post is still misleading. Neil DeGrace Tyson repeatedly tweeting wrong facts even in physics, doesn't mean I can't tell him his posts are wrong.
NDT is straight up wrong quite a bit. Reich is oversimplifying, because it literally doesn't matter to his point.
I mean technically Bezos doesn't 'make' anything in 11 hours anymore. Hes retired and doesn't draw a salary. Whether Reich's calculation of 100M in 11 hours is based on his net worth/year, the increase of his network in the last year doesn't really matter. The point is that 100M is irrelevant to him, its nice, but he wouldn't have it if he hadn't been screwing over as many people as possible, and continuing to direct amazon to do so.
Back to your example- if your parents own a 100k home outright, but their income is 250 month, then the economic situation where you live is either very odd, or they're indeed pretty well off, but can live frugally because of where you are. For example I'm on the upper side of middle class and doing ok, my net worth:expense ratio is ~50. Your parents is 400- assuming the house is all they have.
There is no way to become a billionaire ethically, and there's no feasible way to spend a billion us dollars, imagine every cent after 999million of that money went to society instead, poverty, homelessness, healthcare...
You can't vote for people determined to brake government and then be surprised when government doesn't function.
More than half of congress is dead set making the government useless to the average person, while simultaneously complaining that its useless. Their lies are working though.
Unfortunately no. Most of charity money is gone in employee salaries which are preposterous amounts. 90% of it in fact. The rest is used for “charity”. At the end something like 1% reaches the people.
This is so fucking stupid, you're still paying taxes, you're just not paying taxes on money sent to the charity. If you made 50,000 and donated 10,000, you'd still pay the income tax for $40,000 and also not have the $10,000 you gave to charity.
You can feel good about donating but think it's some sort of cheat.
For a legitimate answer, we have to cut out the extremists from the argument. To start, the vast majority of anti-tax people don’t actually believe in abolishing all taxes entirely, even if they do (imo correctly) believe that charities are far more efficient in use of funds than government-run services. I mean, there have been several times where the govt loses millions of dollars. Not wasted, just straight up LOST. As in unexplainable disappearance. That is definitely not the people you want to give money to, much less trust to run all of your services.
And to address the “but muh roads” thing, so far as I can tell, it comes from an argument to abolish federal income tax specifically, and since a common talking point for pro-tax people is that roads (and other public services ofc) would not be built/maintained if fed income tax was abolished, anti-tax people bring up that we did in fact have well maintained roads and highways before fed income tax was implemented.
Yes, roads, and not just roads. Buses, subways, postal service, justice system, congress, all the government branches, and even your local police officiers run on your tax money
Reminds me of these project cities in the US that tried to decouple from any government. Yeah usually went as expected. Shitty roads, shitty services and basically no institution above personal use.
There has yet to be a single one of those to be successful.
As a note “tax write off” means they’re not paying taxes on the money donated, they still pay their usual taxes on all their other money, and that’s how it should be! The actual issue you should have is the lack of taxes on undonated money
It's always a little bit annoying when people who don't know what they're talking about bring up "tax writeoffs" as if they're some kind of infinite money glitch for rich people
You're right, they're not. My understanding, however, is that there are some situations in which tax writeoffs effectively can be money glitches, as with fine art. As the story goes, someone can buy art for, say, $1M, then have it "appraised" later on by someone else, who's effectively in on the scheme, for something like $10M. Then, the buyer donates the art worth $10M, and writes $10M off their taxes. Now they'll save something like $4M in taxes from the art that cost them $1M to buy. Maybe that's not accurate, or no longer the case, but that's what I've read about.
Exactly, but it's often even worse than this makes it sound. The art they "donate" can be donated to their own personal museum/org which allows for shenanigans like the museum being located on their private property and being virtually inaccessible to the public. They'll also then do things like host events at the museum for their friends' causes for free but estimate the value of that hosting at some huge markup to use it as a tax write off
Exactly, but it's often even worse than this makes it sound. The art they "donate" will be donated to their own personal museum/org which allows for shenanigans like the museum being located on their private property and being virtually inaccessible to the public. They'll also then do things like host events at the museum for their friends' causes for free but estimate the value of that hosting at some huge markup to use it as a tax write off
Charity write offs are not a cheat code and anyone who thinks that should spend the time educating themselves instead of angrily arguing on the internet.
Fine art donations, on the other hand, can be a pretty crazy loophole if executed correctly.
The tax code is also really strict on that. People think that influencers are writing off their Ferraris because they take pictures of it for instagram, but that’s not the case
I mean there are infinite money glitches for rich people. It's not exactly that, but there are enough loopholes, so you can't be surprised that people are skeptical.
they don't pay taxes on their money though. They leverage the increasing value of assets to get loans, which aren't tax in order to get pocket change which they might possibly pay sales tax to but usually to a different country. You're financing them and sucking them in the mean time, you're doing double duty.
The donation means nothing. They own their own charity, out of the 100mil id be surprised if 1 mil goes to an actual charitable cause. The other 99 will be invested in financial instruments which will be owned by the charity, which is legal as they will claim the R.O.I will help the charitable cause even further.
Thus the 99 turns into 150 in a few years, money that the owner of the charity (jeff, or more likely, whichever family member or crony he had set up the charity, also for legal reasons and for PR), can now withdraw from tax free. The crony or family member in question will also be paid a gigantic salary for 'running' the charity (scratching their balls) from the money that was donated in the first place.
It gets worse, that 1 mil, the money that s actually going towards helping a cause, is not handled by Jeff's charity, but rather gets 'donated' to a research institute/humanitarian movement or whatever, an actual charity. That particular charity is now, in a weird fucked up way, in debt to Jeff, as they want to keep those types of donations coming every year. Which means whenever they have to pay to contract another firm for construction or transportation or what have you, they will use one of the many businesses Jeff is invested in, further increasing gis wealth, political influence, as well as his standing with his fellow shareholders.
Yet the mouthbreathing public knows nothing about the inner workings of the law, nor will they educate themselves, so here we are.
Yeah, it's pretty cut and dry. Businesses pay taxes on their profit, which is their gross profit - expenses. Donating to charity is considered an expense for the business so they pay less taxes.
So, ultimately, they're giving money to charity instead of the government. It's up to you if that's good or bad I suppose.
He has billions because he has an army of desperate and exploited people working for his personal enrichment day in and day out. A fraction of the proceeds of exploitation are given back to the exploited and half of you want to polish his knob. If that’s you, here’s an idea - get some backbone.
Simping for billionaires is crazy. That is money that no human could spend in several lifetimes. If I had that kind of money somehow, I would be traveling the world and going to restaurants and tipping people crazy amounts and doing as much as I can. Amassing that amount and just buying mansions and super yachts is just so lame.
Uhhhh you don't think Bezos also travels and tips well either? Thinking he only spends it on mansions and yachts, and nothing else, is ridiculous bro lmao.
It’s called manufactured consent. Media owned by wealthy moguls has spent the last century trying to convince working class people to vote against their interests and believe in the rich as some sort of meritocratic class deserving of more wealth and power than the average person, and that they too can be that way if they just work hard.
It’s fucked us over so badly that they no longer really need to spend their money to do it anymore. People have bought the arguments, hook line and sinker, that’s why you see so many bootlickers in these comments. You got your hustle grindset influencers and podcasts, you got people like Joe Rogan who claim to be anti-establishment sucking off Peter Thiel… all people doing it not because they’re being paid by billionaires, but because they bought the propaganda. The long game, the investment, it all paid off.
Now Americans are so convinced by this that we’ve elected, and might elect again, a glorified Internet troll who has shown his genuine incompetence numerous times even before running for office, all because we believe his wealth somehow meant that he knew how to run things and not that he was born with a golden spoon in his mouth, making any business venture or risk he took mean very little in the grand scheme of things, and he would actually have to try to fail with his background.
greentext is filled with people born on third base who are convinced they hit a triple. Most of them are probably still supported by their parents. They have no concept of what it takes to live in the US without support.
I agree with you about how hoarding this much wealth is usually made possible through exploitation, but this analogy is wrong, yeah he did donate a fraction of his wealth but it is still a substantial amount
I am not religious, but I grew up going to church. But this reminds me of some scripture; there's a part of the Bible I remember hearing as a kid. Some poor old lady goes to church, gives the only bit of money she has to her name as donation. Bunch of rich folks laugh at her and drop what amounts to be thousands of times the money she gave in the donation bin.
Jesus (or whoever told the story, probably Jesus) scolds the men and basically calls them out on their 'charity'. Yes, the sum is higher, but it means nothing to them. For the old lady, what she gave is all she had, and that makes it far more selfless and far more important. Sure, it won't feed people like the thousands will. But it's more noble.
Kinda stuck with me and resurfaced in my mind when reading this post. Bezos donating $100mil is cool and all, and I'm glad people will be helped by it. But it doesn't mean anything to him. He's still got a bajillion dollars, he sacrifices nothing, the status quo remains the same. If a man with $100 to his name gave it away to help others, he'd be a hero. If a man who makes more than the GDP of several countries gives away $100mil, it's nothing. He doesn't help solve the problem, just bandages on an open wound. He is the problem. Amazon is a great idea, and a great service for consumers. But he doesnt work 300x harder than the people in his warehouses, he doesn't need to pay them so little while he attends meetings and golfs all day. The middle class is dying and the poor shrivel into nothingness and this man waves $100mil as a pittance.
That's why folks hate billionaires. I'm glad he donated, and I don't expect total systemic revolution from a guy who became the wealthiest man on the planet. But you can't have your cake and eat it, too.
I just did the math and if you earn 100 million every 11 hours, that means you earn 80 billion every year. Amazon’s total profits, of which Bezos only gets a share, were 30 billion in 2023. Twitter pulling numbers out of their ass as always.
100 million is still 100 million. That’s better than 0. The rich are already paying most of the taxes and even if you literally took all of their net worth as direct cash (which you couldn’t even do if you wanted to) it wouldn’t be enough to cover the US budget for a year. It’s something like, if we sacrifice all of the top 500 US citizens and everything we have, turned all of their wealth, property, business, and stocks into cash through magic, it wouldn’t cover the US budget for 9 months. If you actually care about poverty, people in need, and even the average person, you should be more concerned about how we’re spending our money. Billions on billions going to foreign countries when we are already struggling? Billions going missing as the CIA never pass an audit? Even the money we do send to other countries mysteriously goes missing as the politicians that was in charge of that cash mysteriously become multi millionaires while their cousin begins and instantly wins a major contract with the gov? They don’t even hide it anymore. If we could have that money going to US citizens in need, into building important infrastructure (imagine finally having high speed rails from coast to coast,or affordable housing, or free healthcare for all). All it takes is some honesty from our politicians fulfilling their oaths to serve the US people.
This is also basically saying taxes are only voluntary for the rich and they get applauded for tossing pennies when people who actually work give up 25% or more of their checks every week.
I think that's part of the reason the rich can exploit all the loopholes to pay as little tax as possible. The government isn't stupid, they know what the loopholes are. Why can't they fix the system so it isn't exploitable? Because they themselves need the loopholes. Governments have more than enough money to fix a lot of things now but that money is always washed away into the pockets of people in power.
I appreciate the fact that he’s donating to a charity. But what I would like to see from companies big like Amazon , Walmart etc, is for the company to make a little less profit by paying the employees more. The end result would be less turnover and most employees would appreciate that maybe the company honestly values them .
Especially since it has been proven that higher wages (increased by not even that much) do wonders for employee productivity and mental health (having more money than the bare minimum does in fact help) and also increases birth rates, which will overall help the demographic situation as well.
Where did you read that wages correlate positively with birth rates? I've only ever heard of the opposite, and when you look at the world globally it seems to always follow this trend
There was a study I heard about a guy who increased his employees wages from his own salary and the increased wages meant that the workers could afford a child or a house closer to work. Maybe to say it correlates positively with higher birth rates is a bit of a stretch, so my bad there.
his donations are for tax write offs. he loses less money when he donates. he could so easily give his employees great benefits and pay and stimulate the economy
Imagine being the unpaid social media intern at Amazon having to read every post on 4Chan in case you have to defend Bezos. A truly nightmarish existence.
"That one lord once threw a handful of coins at peasants in the street, therefore it is okay that nobles own everything including our very lives while we subsist on potatoes and barley bread."
Taking all money and assets from all US billionaires would fund the current federal government for slightly less than 1 year aka 6 trillion. We have a government spending problem. It has grown so big you can't tax your way out of it. No politician has the spine to run on cutting government spending enough to make the difference excluding Thomas Massie. 25 cents of every tax dollar goes to cover the huge interest of our national debt. This will fail. Start prepping.
“Eggh 11 hours of work??? That’s like that’s like nothing!!” (Let’s say you make $15 an hour, that times 11 hours is $165, this is probably more money than most that are complaining about him have ever donated all at once.)
This point is so irrelevant because no matter what the math is, people pretending as if jeff bezos isn't disgustingly rich just because his money is in stock. Like why are you even saying this? 200 million a day, a million a day its all the same he's insanely rich.
Typical socialist reddit reaction... If a billionaire wants to scrooge mcduck his money and swim in it he can do that too. If you want the government to go after 50% of his assets it just means you're leaving the door open for the government to take 50% of yours too.
...not to mention all the jobs we'd lose from every Amazon factory moving to Argentina. Despite the fact that Bezos is worth billions he's easily contributed that much to the American economy. Jobs, 401K, heal insurance, etc. If you demonize Bezos you risk taking that from MILLIONS of Americans.
I don't understand, is a hundred million suddenly not a fuck ton of money? Yeah, it's for tax write-offs, but how does that change the fact that a food bank got a lot of money.
firstly eat the rich,
but it has to be said that jeffs wealth isn’t in one massive bank account its mainly tied up in amazon shares, i wonder how much 100mil is compared to his day to day spending money,
focusing on jeff and elon makes us forget that the real dragons hoarding the gold are generational wealth hiding from the public eye.
although still fuck those two
Ofcourse it's nice he donated, but it's not about gratitude... It's the fact that he has so much wealth and sits on top of it like a dragon. HE HAS NO USE FOR THAT MUCH! You can't get THAT rich without exploitation. It's like a thief robbing multiple musea and then donating like three pieces back and people blindly saying "oh, why can't you be nice? He clearly gave back more pieces than you! Why not show a bit of gratitude???"
However he has not made that every year he's been in business. You'd find the average much lower across all the years he's been in business.
He's worth $170b / 30 years of operation =
$5.6 billion a year.
Which is $7.1 million every 11 hours, not $100 million.
Meanwhile the US government spends trillions it doesn't have, where do you think that money is coming from. You think value can be printed from thin air.
its not exactly a reasonable decision to donate so much money that you start to struggle financially, only enough to not really impact your bank account
Thats pretty cool of him, but he still should pay normal taxes like everyone. I am personally against progressive tax percentages, I think everyone should pay the same percent. I think that wouldn't be unfair for poor billionares.
anon doesn't know that donations like this are heavily abused by the people making the donations resulting is them keeping 89% of the money they supposedly donated. and that's if they donate actual money.
sometimes they donate overvalued artworks, which I hope I don't have to specify, but the foodbanks can't use paintings. we're not talking renaissance paintings either, we're talking modern artworks that are mostly used for rich people to launder money and "donate" to charity.
It's just so weird that people idolise billionaires. Like yes daddy, please exploit me and actively make me poorer whilst using politics to slowly strip away my rights.
If I donated what I made in 11 hours, it would be about 220 dollars.
I can do that maybe once or twice month and not change my lifestyle all that much, and I'm not really a big spender.
If he stopped making any money whatsoever and all of his Net Worth was turned into cash, Jeff Bezos could donate 100 million dollars every single day for 5 years and still have multiple millions of dollars left over.
Stop sucking billionaire cocks like you will ever have any money even remotely comparable.
Another classic "net worth =/= income" moment. I don't understand why it's so difficult for people to realize that Bezos' net worth going up by $8 mil/hr doesn't mean he's earning $8 mil/hr in income. The value of my house and investment portfolio going up by around $10k/yr doesn't mean I'm getting that $10k/yr in cash.
That being said, it's still not as if $100 mil is a substantial amount of his available spending cash. We don't know exactly how much that is, but it's certainly not $8 mil/hr.
The top 1% in my country pay 30% of all tax bills, meanwhile the bottom 50% pay 10%.
This sounds really unfair, until you factor in that the 1% own over 70% of my countries wealth, and the bottom 50% less than 5%.
That means that the poor are taxed at double the rate they should be, and the richest taxed at less than half. This is reflected in the fact that the top 1% across the west had an enormous increase in wealth over the last 10 years whilst the poor had a further decrease.
Yet we're supposed to clap like fucking malnourished seals when one of them gives a fraction of their wealth to a charity that will do nothing to stop the trend that causes this poverty, especially when it's within their enormous political and economic power to actually do so? Fuck off
If the companies paid people more there would be less need for food banks. Philanthropy is PR ,advertising, and a "solution" to a problem the companies are partially responsible for
kerodon@reddit
Him and people like him who hoard wealth are the reason we have poverty. You dkt make a billion dollars without exploiting every possible resource and person you can along the way.
SwissNationalist48@reddit
We had poverty long before billionaires existed.
Zsalmut@reddit
Yeah they were called lords and kings and shit. The point is huge wealth inequality is not healthy for society.
684beach@reddit
And long as some humans are better than others its bound to happen
Zsalmut@reddit
Define better. Psychophats are tend to have more success and higher paying jobs. Are they better than the average joe? If lack of empathy and remorse makes humans better why didn't evolution do its thing?
684beach@reddit
Better defined to me in this circumstance? The quality of being a good swimmer in rough seas. Those humans which can adapt the most. You cant ask for a definition and then use it in a question like that, it doesn’t make sense. Thats like programming with values that are not set.
Zsalmut@reddit
Psychopats will screw everyone and do anything for their own interest. So are they better than the average joe who doesn't lack empathy and remorse?
684beach@reddit
So you think the Norman Bates and Batemans of the world are “adaptable”? What data supports this? Even when the media that portrays them shows an ending with self destruction? I would not call a person with a lack of empathy, or most mental illnesses, adaptable. Willing to show remorse and cruelty is essential to healthy people and populations.
Most “psychopaths” are in fact in jail or on the streets, not yuppies btw.
You seem to have very strong views of the term psychopath, which is not a real term used by any organization. The DSM definitions change all the time.
Psychast@reddit
There it is. The real point you clown asses are dancing around but this one is too dumb to not spew it out. "There will always be poors because being poor is a function of being inferior."
Meritocracy is a lie you've been spoon fed since childhood, work hard = make lots of money. All those billionaires just worked extra harder than you, so therefore, like, if they're making millions more than me its just because they worked millions times harder and I just need to hustle which will obviously happen for me one day.
It is also this dipshit take that racists love to eat up, "well yea blacks and mexicans are typically poor, they're simply inferior to whites, that's why whites make all the money" - Rufus from his trailer park home living off welfare.
Hard work is realistically like 10% of the reason behind success, it's almost entirely luck, lucky to be born in a first world nation, lucky to be born to previously successful parents, lucky to then use that success from the parents to enter good schools, make connections to other lucky people. It all builds on itself, that's the whole idea behind privilege, some people get born on Third and think they made a triple, then gloat as they trot to home base mocking and chastising those struggling to even make it to first with anchors on tied to their ankles.
684beach@reddit
What are you yapping about? My words are not referring to Meritocracy or any system of government. How did you end up in this confused state?
Djrhskr@reddit
The sad reality is that wealth inequality is part of human nature. Name one period in history where someone didn't have more than the others and vehemently defended it, even monkeys do this.
We always want more
seandoesntsleep@reddit
If we all recognize this is a flaw why make a system of society that rewards this bad behavior instead of correcting for it to make life better in spite of human nature
Djrhskr@reddit
Because you can't make such a system. Again, tell me one system where it worked. Communism obviously failed, the elite just changed it's name
seandoesntsleep@reddit
So stop trying to make the world a better place and let our future generations suffer becouse we cant figure out a way to make it so one guy cant own everything?
posting_drunk_naked@reddit
Conservatives' answer to a problem is always some combination of "oh well" and defunding gov programs that help people deal with the problem.
It's so stupid to see self described "patriots" so quickly give up on their own country and community
seandoesntsleep@reddit
We can fucking fly and go to the god damned moon. I can instantly talk to any person anywhere on the globe and the technology allows me to bridge the language barrier. Humans have never accepted "it cant be done" as acceptable... unless its removing exploitation from a system. Then nothing can be done
ColumbusJewBlackets@reddit
And before lords and kings everyone was rich right?
Zsalmut@reddit
Of course not, before that the concept of rich and poor didn't exists cuz life sucked equally to everyone.
Swolnerman@reddit
Pareto distribution
Escenze@reddit
Soooo... Politicians?
Brilliant-Mountain57@reddit
Noooo not Politicians? Rich people in general. Including but not limited to politicians.
LaFrosh@reddit
Power, Corruption, Greed
idiotshmidiot@reddit
"back in my day a pie cost 59 pennies and you'd still have change for a spritz"
throwawaySoManyUser@reddit
Guess who debased and counterfeited your money so much that this is not possible anymore?
A long time ago things prices used to go down 6 months after they were introduced, now this is a long ago dream
ah_harrow@reddit
You're regarded if you don't understand how pricing power parity works. It's not how much the pie cost, it's how much that cost in relation to an hours work
demon-storm@reddit
We also didn't have extremely efficient food chain supplies and machinery in the distant past. There's no excuse for hunger to exist in today's society.
Ottoblock@reddit
Start making food and giving it away.
HexiMaster@reddit
40% of America is obese. And if want to bring third world countries into this, just know that you are a direct consumer of the cobalt that is so inhumanly mine in Congo, you drive the car that runs on oil which is mined by war lords and literal monarchs.
Billionaires aren't product of one man's greed it's the product of society which turns a blind eye as soon as anything takes away from their comfort, otherwise they pretend to act righteously but continue to feed the machine. All for comfort.
ElectroMagnetsYo@reddit
Adjusted for inflation?
While-Asleep@reddit
Never wealth inequality to this extent tho
Fleming1924@reddit
Lol, lmao even.
For Thousands of years people have been slaves, meanwhile the God-kings that rule over them had wealth way beyond what anyone has today. Jeff has a lot of money and owns a very large company, but there's been people in history to literally own nations.
Its not good that we have the wealth inequality that we have, it's certainly got worse in recent history, but this is by no means the worst it has ever been.
RudkinEUW@reddit
While you're not wrong, and its not the same as literal ownership, people have noted in the past that Jeff's net worth is vaster than the GDP of Luxembourg, Ukraine and many other nations. In 2018 it was cited that if his wealth was a country, that country would be the 56th richest in the world and richer than the 48 poorest countries combined. And that was 6 years ago, with his net worth being $31B higher than it was then.
These are all overly simplistic ways of looking at it, but what I'm trying to say is that its still fairly comparative wealth inequality. By comparison, 712 million people (roughly 10% of the world) lives on less than $2.15 a day.
Fleming1924@reddit
That's a fundamental misunderstanding of wealth.
GDP isn't a net worth, it's more akin to annual income.
If he's made 31B in 6 years then his "GDP" is 5.1B, 16x lower than Luxembourg. Sure that still makes his annual earnings higher than a lot of nations, but not at the scale you can imply by misrepresenting what that GDP is.
I'm unaware of an easy way of getting net worth data for entire countries, likely because it's probably not really that useful a metric for running a nation. But, luxembourg is 5 trillion dollars in debt, it's likely fair to assume the total worth of the nation is higher than that.
Their 2025 budget expects to spend 30.9 billion euros (33.66B usd) which by your own account is around what took Jeff bezos 6 years to gain as wealth.
I'm not claiming there's no wealth disparities, nor am I claiming it's moral. But let's not pretend it's never been this bad.
For reference, if you compare him to the nation he presently lives in, the US government spending in 2023 was 6.13 trillion dollars, so the gain Jeff made in 6 years would run the 2023 USA for ≈ 2 days. He's absurdly rich from the perspective of an individual, he's not that rich from the perspective of nations.
Comparing across nations is also not really in good faith of the discussion, ignoring the fact that not all countries have the same level of wealth disparity, it also ignores the fact that living on $5 a day in some counties gives you a pretty good life and $5 a day in the US is likely less than some homeless people live on, yet you don't have people dreaming of going to the US to become part of the San Francisco homeless population just because it gives them more income on paper.
Again, I agree it's crazy that people have so much money while others suffer, but blowing it out of proportion and misrepresentating what it is doesn't do justice for anyone.
RudkinEUW@reddit
In regards to the fundamental misunderstanding, I did say its a very broadstrokes, overly simplified comparison which ignores the details. The statement itself is still fairly shocking even once its grounded in fact (which, in fairness, you've done by defining what his GDP would be).
The statement was still 'his net worth vs their GDP' which makes it correct, but relies on the concept that someone can't discern between what net worth IS in comparison to GDP. You're not wrong but I hope we can just agree that even when you compare a Bezos GDP vs other countries' GDPs, that is still quite shocking.
I couldn't in good faith pretend this is the worst its been, but I think the point here is that its still completely out of whack.
On that last note about comparison between countries, I dont think in this age and level of globalisation location should be a key differentiator. Yes, saying that $5 has varied value depending on location is partially indicative of the problem, rather than an answer for it. Regardless of a dollar's value in a given place, third-world wealth inequality is absurd too. In first world countries, wealth inequality is still absurd.
I dont think we're really in disagreement here, to be fair. Really respect the informed and measured reply without picking at anything on a personal level. Rare to see on reddit.
AtomicMonkeyTheFirst@reddit
Wealth inequality =/= poverty.
And we have. Go back a few hundred years and you have a handful of people living like royalty (cos they were, y'know, royalty), and everyone else living like piss poor peasants who had nothing.
SwissNationalist48@reddit
Jarvis, look up goalposting.
All jokes aside, while this might be true, the average person is still significantly more wealthy now than before the industrial revolution.
Idk about you, but I’ll take wealth inequality over widespread poverty any day.
10-4Apricot@reddit
So?
Was the poverty enforced by lords and kings of old justified?
It was stupid then and it’s stupid now.
SwissNationalist48@reddit
Me when the lords and kings use their apparent godlike powers to cause droughts and bad harvests.
Do you hear yourself?
encrustingXacro@reddit
Billionaires and politicians are basically our modern-day monarchs and rulers, but they don't have the divine right of kings. They have no right to their throne.
Cuckservatives say that "billionaires create wealth for us"- let's see what that entails. They create the pornography that shackles your soul; they create the cigarettes, vape, caffeine, and sweets that they make you dependent on; they make the marijuana, amphetamines, opiates, hallucinogens, and other drugs that turn your brains to mush; they make the vaccines and medications that makes the human species forego the most important component of evolution (natural selection); and they create the vapid materialism that gnaws at the foundations of the eternal truth that is tradition.
The cuckservatives claim to be Christian, yet they fail to see that the wealth the billionaires create is the reason why next to none of us will ever get to see the kingdom of God. Jesus said that "it is easier for a camel to enter the eye of a needle than it is a rich man to enter the kingdom of God." In today's age, the average middle-classman lives more luxuriously than the kings of Jesus's time; think about what that does to our spiritual life. The billionaires have shackled us--a slave to the worldly passions!
DireOmicron@reddit
Yeah they actually have to provide value to the general population. Bezos is rich cause Amazon is useful and used by many
And people choose to consume it
And people choose to consume it
And people choose to consume it
Saving lives is bad now?!?
Or the tradition is outdated and people prefer the convenience of modern day life. For someone making fun of “Cuckservatives” your aspiration towards tradition is like by definition conservative. Pair that with your odd moral high ground about pornography and drugs, and your insane assertion that modern medicine is bad you sound like a loon.
encrustingXacro@reddit
The only thing provided by Amazon is decadence and materialism.
Yes.
The "people choose it so it's okay" argument I see you libertaritr--ns use fucking boils my buttons. Your actions affect other people. When you give people the freedom to choose, they will always choose the wrong thing; this is why democracy doesn't work.
Modern society puts so much value on life that we leave our elderly to live the last of their days decrepit and alone. I would rather die with dignity than spend my final years incontinent and unable to move. We also keep those whose congenital/genetic defects would have gotten them killed on life support, and even allow them to reproduce, spreading their defects to future generations.
When given the choice, a rat will choose the red dopamine button over even food.
(American) conservatism is modernist and based on enlightenment values. I do not share those values. To quote Evola, "my principles are those that, before the French Revolution, every well-born person considered sane and normal."
You libertaritr--ns sicken me. Not only do you support a system (capitalism) that furthers hedonism and decadence, but you also support the very degeneracy itself in the name of "personal autonomy."
SirPappleFlapper@reddit
Did you take a Time Machine from the 30s? What’s up with the enthusiasm for eugenics?
encrustingXacro@reddit
Oh, is natural selection "eugenics" now?
SirPappleFlapper@reddit
“We even allow them to reproduce” is pretty eugenics-pilled buddy
Dark074@reddit
Counter point: Gabe Newell
Gorganzoolaz@reddit
Also: JK Rowling. I don't care about what she thinks about trans ppl, she got rich by writing children's adventure books, not by exploiting anyone.
rddsknk89@reddit
JK Rowling having only a couple billion dollars (or less that a billion, according to some replies) means that she is still closer to being homeless than she is to even touching the wealth of someone like Bezos or Musk. They could sneeze away her net worth and barely notice.
ArceusTheLegendary50@reddit
"Only" a couple billion???? Brother, that is still a couple billion more than you'll ever see in your entire life.
rddsknk89@reddit
You’re right, but that’s not the point
ArceusTheLegendary50@reddit
The point is still stupid. 1 billion dollars is 100x less than 100 billion, but still several million times more than the poverty line. She has more money than she could spend in several lifetimes. Meanwhile, the average poster on here is 2 paychecks away from bankruptcy, and even that's probably generous. Nobody who lives lavishly in a Scottish castle and spend shall their day on Twitter is closer to homelessness than Elon and Bezos, bffr
rddsknk89@reddit
Lmao, the point is not stupid. The point is that even someone who has more money than they can spend in their lifetime has a tiny fraction of the wealth as someone like Musk or Bezos. In case I need to spell it out to you, I’m saying that people like Bezos and Musk have entirely too much wealth, and the fact that they have so much is a prime example of the complete and utter failure that capitalism has become.
ArceusTheLegendary50@reddit
Except you also claimed that she's closer to homelessness than to having 100 billion dollars, which is objectively not correct. You also said that she has "only" a billion dollars in the same breath. As if the average person can just get a billion dollars in their lifetime lmao.
If you wanna talk about capitalism's failure, maybe don't try to claim that a billionaire living in a castle is in any way to comparable to the rest of us. 1 billion vs 100 billion is extremely meaningless when you're talking about personal wealth.
rddsknk89@reddit
You are wrong. She is mathematically closer to being homeless than to the wealth of Bezos and Musk ($1B is closer to $0 than it is to $200B).
Why are you so hung up on the word “only”? In the context of a discussion about impossibly rich motherfuckers like Jeff Bezos, she “only” has a billion dollars. Get over it.
I also never claimed that she was comparable to the rest of us. I was saying that she is a poor example of a billionaire that gained their wealth without exploiting anyone, considering the fact that her wealth does not even touch that of people like Bezos and Musk. Also she definitely (indirectly) exploited many people to get her billion dollars.
I hope that clears things up, but I bet it won’t.
DefiantBalls@reddit
It's not like Bezos and Musk actually have that wealth as money though, they have it in the form of assets that they can use as a collateral to take out loans (which is how Musk bought Twitter). Shitting out 10 billion dollars on the spot is absolutely impossible for any of them
rddsknk89@reddit
I know that. What that really means though is that billionaires like that have practically unlimited money, since they can constantly take out as much in loans as they want against their unbelievably massive collateral.
I’ve never understood why people make that argument like it doesn’t matter that these people have hundreds of billions of wealth. Just because it’s “wealth” and not “cash” doesn’t really matter at the end of the day. They can still spend ungodly amounts of money, and they still exploited countless wage laborers to amass that amount of wealth.
inspectoroverthemine@reddit
So the argument is that they own so much of the economy that they can't liquidate 10% without major impact?
Box-ception@reddit
Well, they own that wedge of the economy because they were instrumental in building it. You can argue that someone else would've done what they did eventually, but if you undercut businessmen taking initiative, then the market tends to stop doing ambitious things like growing.
DefiantBalls@reddit
I am not even sure if they will be allowed to liquidate 10% of their assets like that, there are most likely failsaves that would let other major shareholders from putting and end to any insanely idiotic ventures they might make
inspectoroverthemine@reddit
You can do it, but you can't do it in one trade. I'm pretty sure company officers can't sell at all without notice.
He could definitely sell 10% over the course of a few quarters. Its not liquid, but its real.
XXVAngel@reddit
She's british so that knocks her down a few.
Generated-Owl@reddit
She did exploit people... look at all the potheads man, she ruined the kids life.
jjkm7@reddit
She isn’t a billionaire anymore because of “her charitable donations and high UK taxes”
valdemarjoergensen@reddit
Every source that comes up when I google her list her as a billionaire. That's assuming we are converting to the dollar, which I think is the only reasonable thing to do, we can't compare across currencies.
jjkm7@reddit
From looking around forbes hasn’t had her listed as a billionaire since 2012, most of the other sources assume she’s a billionaire because forbes had her listed as a billionaire before
valdemarjoergensen@reddit
When I search I find sources mostly from the sunday times from 2024 claiming she has a billion, and some article from 2016.
Non of my hits reference Forbes.
ItzYaBoyNewt@reddit
Too bad the supply chain exists otherwise you would have had a point there. Workers made the physical books, workers made the movies happen, workers made all the toys and merchandise. She gets royalties from all of that. Or are you implying she made all of those things she profits from with her bare hands by herself?
gr3gghy@reddit
Are you really implying that whoever employs another human being for whatever job is an exploiter? Cause I don't really see how someone working in the publishing or filmmaking industry could be defined as exploited, but please if you have evidence of that explain it to me
ItzYaBoyNewt@reddit
You're coming at this from an intentionally obtuse angle. "Oh so you think all labor is exploitation, a thing you very explicitly did not say? Huh?".
We literally can't go a week without hearing about how some actor was molested by a director or how animation teams get shafted. They literally had a writers guild strike last year in America where people demanded better pay for their labor. Read the news sometime.
gr3gghy@reddit
Oh boy you said that, all the workers that made books, films, toys, merchandise. It's exactly what you said. Plus do you think that sexual harassment or the fact that people wants an higher salary means that they are exploited? Sexual harassment is an individual crime, and is committed by an individual towards another individual, it's not included in the contract. The fact that a worker wants a higher salary doesn't mean at all that they are exploited, it just means that they would like to make more money for their job, and being on strike means just that they are using the contractual power they have to gain it. Plus I really don't see how an actor being harassed or a screenwriter not being payed enough has anything to do with Rowling. She makes money by the royaltys because she wrote the HP books and has the IP for it, the contrition of work in Warner Bros or the company licencing that IP is a responsibility of the company's owners, not of Rowling
ItzYaBoyNewt@reddit
Yeah, because they likely are, that's not what you claimed tho. You assumed I think all labor is exploitation, which I objectively did not say. There's a difference you're too obtuse and unwilling to recognize. Do you know otherwise, that Rowling chose purely fresh organic non problematic worker co ops for companies that printed her books and made her merchandise? Or did she or whoever made these decisions go with the cheapest options?
You are responsible for exploitation happening under your name and brand. Just because you're not personally pulling the trigger on company deals doesn't absolve you.
People being paid less than they deserve and getting treated poorer than they deserve is the definition of exploitation. Don't like that? I don't care, cope.
saketho@reddit
This is the dumbest take ever. The day to day running of the business is the sole responsibility of the executives of that business. Even shareholders have no responsibility unless made aware of company wrongdoings. JK Rowling is the least liable person for this, and every court on planet earth agrees that this is the standard law. But no, all courts around the world are wrong and you are correct.
ItzYaBoyNewt@reddit
"The rich and powerful say the rich and powerful aren't doing anything wrong."
Well I'm happy that's settled then. I believe people have personal responsibility. If I plaster your face on a shirt and have my slaves make it and sell them, and then give you a cut of this profit, ideally you should not take it.
Realistically many people take it because they can't afford not to, they have bills to pay, but near-billionaires like JK have no such excuse, really.
saketho@reddit
Like I specified, the board has no liability unless they have knowledge of an executive’s wrongdoings. After that, it is the board’s responsibility to vote the executive out; but courts intervene before that, add jail time for the executive and disbar them from being a director for a number of years. So boards don’t even have to do that because the criminal and civil court proceedings are of a much higher importance and it’s the job of the board to not stand in the way. You clearly don’t get how courts and company law work.
Secondly, your slavery situation is not how business works in the real world. How your situation would be more accurate is, first you make your business look beautiful and nice and socially responsible, then you negotiate a deal with JK Rowling and buy publishing rights to her books. You pay her her millions at this stage.
Then you fire all your employees and keep slaves to run your business. And you just have to pay your minimal “royalties” which are just pennies sent as a quarterly cheque compared to the hundreds of millions you gave her in straight cash when you negotiated the deal. JK Rowling doesn’t wait at her mailbox every quarter to cash her cheque, the millions were paid at the time of settling the deal. Same goes for movie rights, for music publishing; it’s how all industries operate. You don’t understand how business deals work either.
Was JK Rowling deceived into believing this is a slave free business? Yes you can say that. Who is responsible? The executives of the business and nobody else (Limited Liability Company), because they were the sole perpetrators in this.
Furthermore, are any of these businesses committing slavery? We have modern slavery laws that prevent the functioning of sweatshops, etc. which are called “modern slavery.” Any website you go to, if their business makes 7 figures, they must publish an annual modern slavery statement, a legal document that states they are have taken extensive measures to prevent it. Go to any big business’s website right now and you will see this in place, and by law it must be on the front page and easy for anyone to find. We have laws as such, so that even if there are allegations of slavery, and the business tries to cover it up, this legal statement they make can be used against them in a court of law, thereby increasing the severity of the punishment they are served.
gr3gghy@reddit
Being paid less than they deserve for who, you? Every job is an accord between two parts, if you are not satisfied with the terms someone is offering you go take another job. If you are not skilled and have almost no contractual power there are thing like minimum wage and unions to support you. Been exploited means that you are not paid enough to make a decent living in relation to the amount of hours worked, not an arbitrary sum that you decide. That's been said I have a long day of study an exploited work ahead of me, so goodbye!
ItzYaBoyNewt@reddit
You know people use the whole "if you don't like it, move" talking point as a parody of a shit point and here you are making it unironically.
The workers in places like the film industry are being paid less than they deserve according to them. We went over this already when I dunked on you about the whole writers guild strikes that you ignored.
DefiantBalls@reddit
The other guy is not too bright, but this is a very stupid point to make as well. Most people can't afford to be without a job for a long time, and a lot of industries as a whole have standardized and "competitive" salaries so you can't really do much unless you change your job as a whole, which is not exactly an easy thing to do.
People should, at the very least, earn enough money to survive.
NotLunaris@reddit
Yes that is actually what they believe. Their communist utopia is one where they sit at home doing whatever they want and getting taken care of by big brother government. Any work is exploitative because they see work itself as something they shouldn't have to do.
Also hilarious that they say you're being intentionally obtuse when they are acting as if the "workers" along the way aren't being fairly compensated, even though everyone along the way willingly applied to be employed and entered into labor contracts. They are profiting from Rowlings's (amongst others') works. But that doesn't go along with their headcanon of "woman bad for saying men aren't women".
ArceusTheLegendary50@reddit
Communism, by definition, is a classless, moneyless, stateless society. There is no daddy government. There is a commune ready to help you meet your basic needs.
Well, yeah. When the alternative is homelessness and starvation, you don't really have a choice now, do you?
That's an extremely disingenuous phrasing. They're profiting from their labor, which they sell to survive. They would be profiting from her work if they owned part of the Harry Potter IP and received royalties from that.
Dennis_enzo@reddit
Working a job is not 'profiting off something'. You're working a job, you're earning your money.
Royalties are very much profiting off others.
NotLunaris@reddit
Ever heard of Henrietta Lacks? An African American woman who died of cervical cancer in 1951, her cancer cells, taken without permission by a doctor at Johns Hopkins, are one of the most important cell lines in medical research. Her family was never compensated.
Arguing against royalties is akin to saying the family should never be compensated, nor do they deserve it, as there were no laws broken regarding the doctor's actions.
Henrietta Lacks and her family did not contribute to the research and the numerous medical advances that were possible because of her cells, but everything that followed would have been delayed or outright impossible without said cells. Do they really deserve absolutely nothing?
Dennis_enzo@reddit
I mean, cool story but that's clearly a completely different type of 'royalties' (if you can even call them that) than what we're talking about here. And still, I don't believe that the family should be entitler to receive part of the profits of that research in perpertuity.
pioverpie@reddit
How is it a different type of royalty? It’s getting paid for something you provide
Dennis_enzo@reddit
Sounds more like pity payments. But all right, cool gotcha, well done.
komali_2@reddit
Childish mischaracterization. What's got people frustrated is that there's no reason we should all have to work 40 hour weeks while the bossman gets a yacht. That's fucking stupid and you're cucked if you support that.
If someone says they don't want to work at all by all means call them a lazy piece of shit, but commies and anarchists have been accurately arguing that we could probably get away with everyone working at most 20 hour workweeks for centuries if wealth and work was more evenly distributed.
Kandarino@reddit
Last 2 centuries? Mental to suggest that averaging 20 hour workweeks in 1824 would have lead to good outcomes.
DefiantBalls@reddit
Actually, I think that people did work less on average before the industrialization. But that was because there really wasn't much work to do in the colder seasons, and summer would always have you doing backbreaking labor in order to secure food.
komali_2@reddit
Maybe 1.5 is better. Don't look at me man Krotopkin did the math in 1892 and looks pretty legit to me.
Our dependency on hard labor for the majority of our lives is capitalist propaganda bro. Check out "Bullshit Jobs" by David Graeber, half the shit they have us doing is literally pointless and worthless.
DevianPamplemousse@reddit
Well maybe not all but when you look into how a living wage in fact does not allows you to live decently, then yes it is exploitative in most of the case.
komali_2@reddit
Yes, to some degree.
They're not exploited in the same way a chattel slave is who has a gun pointed at their head while they pick cotton, obviously.
We get away with saying "it's not so bad" because of bread and circuses and iphones.
But at the end of the day, without the workers that pulp her paper, nobody knows who the fuck JK rowling is. If there was profit sharing, she wouldn't be a billionaire, but she'd certainly still be a multi millionaire, and the upside is a lot of people who helped her get to where she is would also be wealthy.
Actually, to come back to the chattel slave with a gun to his head, in reality, there probably were people like that involved in the supply chain that made her rich and famous. Foxconn type companies in the PRC or Southeast Asia.
pioverpie@reddit
But JK Rowling doesn’t own or operate the publishing company, or any of the companies the produce Harry Potter books. She simply has a contract with the publisher where she gets royalties.
If you’re saying that accepting money from those companies makes you morally wrong, then even the workers that receive a salary would be morally wrong
SnooPredictions3028@reddit
Do you believe that people who create a story should recieve no reward? Are you regarded?
ItzYaBoyNewt@reddit
Do you want the same response I gave the other bozo about implying I said something I obviously didn't?
Idiot616@reddit
Not exploiting anyone? So are the factory workers who made her books rich as well?
NotLunaris@reddit
Okay Idiot616
Idiot616@reddit
Are you arguing with yourself? I think these guys can help you
https://www.hopkinsmedicine.org/psychiatry/specialty-areas/schizophrenia
NotLunaris@reddit
I am hearing voices from very real idiots, sadly enough.
Idiot616@reddit
And regarding these voices you are hearing:
Can you point to the "idiot" who said it? Is this "idiot" here with us? Because as far as I can tell, you were quoting yourself.
playerrr02@reddit
She is not a billionaire though and that’s a point.
saketho@reddit
I'd argue she's more of a billionaire than most who have a net worth of 1bn+.
The vast majority of them are business owners, who own shares that are worth hundreds of millions, but do not have cash worth that much.
As JK Rowling is an author, she gets straight cash for her book deals (not shares of a company) and cash for movie and merch licensing deals.
Of course she may have diversified and protected her wealth by buying securities; but she, a lot of authors, and a lot of musicians especially, get paid straight cash. Unlike a lot of billionaires, who hold shares worth that much.
LordIVoldemor@reddit
She is quite cool
idiotshmidiot@reddit
Her continued hatred and politicising of trans people is exploitative. She is using her platform (social capital) to push an agenda against people who are generally living in unstable accommodation and have unstable work. It has a direct material impact on trans people when she promotes bigoted viewpoints.
20Wizard@reddit
TF2 invented everything wrong with game monetisation in the modern day.
InquisitorMeow@reddit
Lol no they didn't. Community markets like Dota are about the best way to handle cosmetics possible, they literally allow you to sell it to other people who want it. Valve also actually make good games people are willing to play and support and they're all f2p. You can't compare valve games to dogshit and call them the same thing.
horny_coroner@reddit
Idk it never felt like you had to buy anything. You got so much shit for free. Also the shit you didn't want could be used to make other stuff.
DarkishFriend@reddit
Man you remember the shitshow when they gave half the community halos because they didn't use 3rd party software to unlock items? People were getting banned from servers for wearing it lmao
nandru@reddit
I fail to see how TF2 economy is/was predatory
Aware_Psychology@reddit
Is it applied in bad way in TF2 tho?
Game economy in TF2 allowed you to gain Items you didn't have money for by trading. That's a good thing.
Most in app purchases in TF2 are cosmetic and you don't even have to pay in some cases since you can craft hats and trade.
The only predatory thing I could think of is option to buy weapons in Mann Co. store. But that's a strech since you can get those weapons normaly and most default weapons are best anyway. You can't compare this to pulls in Gacha games..
All of these things (except the Mann Co. Store) make the game better. TF2 wouldnt be the same without the hats, taunts, dances etc. It's not just a way to squeeze out as much money as possible from it's player base, like the games you are refering to.
kerodon@reddit
I don't know a ton about his personal beleifs. He has a lot of simps and I like some of the things I've heard claimed. The one part I strongly dislike is that steam is a platform based on DRM and the fact that you do not own your games or your account, so it can be revoked from your possession at any time.
10-4Apricot@reddit
Yeah it might not be stealing to food out of the mouths of people but exploitation is exploitation.
Dark074@reddit
Is being a DRM and only selling licenses really exploitation? Just curious I'm not too familiar with the definition
10-4Apricot@reddit
Many people buying products off steam think they’re buying a game, they’re not they’re buying access to a game which can be revoked.
Steam knows this but (until recently due to change in laws mandating clarity) let people “buy games” with theses false impression that they own their games.
I’d say knowingly deceiving someone in a deal (even a good deal) is exploitative because they might not have agreed if they fully comprehended the terms.
Diex3@reddit
TBF, even if game is delisted from steam and it isn't an online game you can keep it and even download again, so it's not as bad most of the time.
10-4Apricot@reddit
Sure but the practice as a whole is not great and it’s never a good thing for the customer to rely on good graces of the business to honor their end of the deal when it stops making them money.
Look at the CREW or people who bought Anthem… or Concord… or RUSE…
Bunnies will always do what serve them best first, customer be damned.
teremaster@reddit
I have this on steam, I downloaded it last week and play it any time I want
10-4Apricot@reddit
Yeah did you buy it last week? No you didn’t because it’s been delisted for years but you’re still protected by the old EULA that said you own that game.
New steam users can’t even search for that game.
teremaster@reddit
Old Eula has nothing to do with it. People who have bought a game that's delisted are always able to still download and play it.
I'm not sure what your point even is, you're acting like abandonware isn't a thing. Games got removed from sale before steam came along
SllortEvac@reddit
While I agree with your point, the games you listed aren’t great examples. They’re all failed live service games.
10-4Apricot@reddit
RUSE wasn’t a live service game? And the Crew had a single player campaign? Both games are now unavailable, not that those specific examples even matter by the letter of the EULA any one of your games you play of steam can just be yoinked from you by the desecration of steam or the games developer/publisher.
cell689@reddit
That's like saying the call of duty games have a single player campaign.
As for concord, didn't the 10 people that bought that game get their money back?
You make it sound like it's a big deal, but it's just there for cases like the ones you've named. Concord and similar failed cases that need to be revoked.
Steam and the devs have very good reason not to randomly take games away from your library, and so they don't.
10-4Apricot@reddit
You whole comment is a nothing statement.
Yeah some games have single player campaigns and if I pay for them, I should be able to play them. Your comment about call of duty is redundant and stupid.
Yeah, I think a business being able to tell me “oh that thing that you bought we don’t think you should be able to use it anymore because it doesn’t serve us anymore” is bullshit and a big deal and you’re just normalising it.
The only reason they don’t just rip games away Willy billy is because it makes them money but should that change should Ubisoft or EA or Acrivision put pressure on storefronts to change how those deals work so they can rip games away from players once they’ve extracted maximum value from you.
Let’s not forget the pay to reload bullshit or pay to join a match. These companies are greedy and will nickel and dime you every chance they get.
cell689@reddit
I would just like to point out that just because you don't understand something, doesn't mean it's stupid or doesn't make sense. The other person said that the crew is a live action fail, to which you replied that it has a single player campaign. My point is that that's less relative than you made it out to be because it's a small campaign and it's not what people bought the game for. That means that the comment about the live action fail is still entirely valid.
I think it's important for you to understand that you're not as smart as you think and that other people might sometimes say something beyond the scope of your understanding, and that that's no reason to call it stupid. If you can't grasp that concept, I don't think there's a point in further speaking with you.
10-4Apricot@reddit
The size of a game (or its campaign for that matter) is redundant to wether or not it hold value to a player who bought it, I don’t care if you payed 50 bucks or 50 yen.
If you bought a game, you should be able to play it.
BloodDancer@reddit
How do you know what other people bought those games for?
cell689@reddit
That's a stupid question
BloodDancer@reddit
What about assuming the reasons others buy video games is smart?
cell689@reddit
It's neither smart nor stupid, but just generic knowledge about single- and multiplayer games. The fact that you think something has to be either smart or stupid and nothing in between further reinforces the idea that you are stupid.
BloodDancer@reddit
The reason other people buy video games is generic knowledge? Also, you‘re the one that said it was a stupid question. Aren’t you the one saying something is stupid?
cell689@reddit
grandpa, it's fine if you have no idea about games on the market or about consumer tendencies, but don't come to me expecting a lesson in video games.
Yes, that's exactly how that works. I know you're not the brightest, but which part here confused you? You said something stupid, I told you that it was stupid. You asked me what part of my comment was smart, I told you that it doesn't need to be smart to not be stupid. I cannot dumb it down any further than this.
BloodDancer@reddit
Really good job responding to my point about your somehow omniscience about the reasons others buy games! When you have to resort to name calling, your point probably sucks. You are aware in the most recent COD the completion rate of the campaign is 49.6%, and the completion of the first multiplayer trophy (rank 10) is 52.8%. So actually, you did make a stupid point. They’re played about equally. Also, the inverse of stupid is smart; I don’t know how you think words work, but if something is dry, it’s not wet. If something’s stupid, it’s not smart. Do you understand how basic words work?
RicoDC@reddit
I think the argument that he's making is the fact that they have the power to take it away from you and there's really nothing you can do about it. Sure, the examples are mid af games but the fact still stands that you don't necessarily "own" the game. The platforms basically just rent it to you indefinitely until they decide you can't have it anymore.
VengineerGER@reddit
Spec ops the line and Telltale’s entire roster of games are examples of single player games that are no longer available to buy but you can still download and play them if you own them. I can’t think of a single instance of Steam themselves removing a game from people’s library that wasn’t a scam like that one overhyped zombie game from last year and there they offered refunds for everyone who bought the game.
PM_ME_YOUR_STOMACHS@reddit
CREW is Ubisoft.
Anthem is EA.
Both of which have their own launchers. Steam would have been sued up the wazoo if it kept the games on its platform.
dankredmenace@reddit
I agree but to be fair to steam I can still download and play RUSE
ICBPeng1@reddit
Counter point, games like transformers: fall of cybertron have been removed from the steam store, but there if you own the game you cha still download and play the game.
It’s not that you don’t own the game, it’s just that unfortunately a lot of triple A games are moving towards an “always online” model, that way when the sequel comes out they can pull the plug and force everyone to pay for the next version
Soviet_Broski@reddit
Hypothetically, if steam went out of business and shut down their servers or started baning people for some reason, we would permanently lose access to all of those games we paid full market price for. Even the ones we had already downloaded would stop working due to the drm protection.
In those hypotheticals, steam COULD just release their drm protections so their customers could keep the games without steam being involved, but nothing in their tos obligates them to do that, so why would they?
In a less hypothetical example, you can't pass on your library when you die because it's not yours.
It's shitty because most current AAA games on steam are being sold at full price. You are buying temporary access to a game and paying the full price of the retail product for it.
SoupaMayo@reddit
Because they allow it, but are not obligated to
nasandre@reddit
Most games are like this nowadays. There are so many that require online connectivity to online servers to function that when a publisher pulls the plug on those the games won't be playable anymore.
lad1dad1@reddit
that's true now but if unchecked they could revoke this and fall back on their rules of you not owning it. or the company could get bought out/switch hands. for an example, I used to have funimation and had several movies/shows from the extra codes that I lost them when crunchyroll decided to no longer support it. obviously steam and gaming are a lot different than that but it could go that way if left unchecked
DevianPamplemousse@reddit
It dosen't seams to go that route while gabe own steam. But he is not immortal and someday steam will fall on the hands of greedy ceos. Then the enshitification of service you can see on 99% of enlisted company will begin.
UGLJESA231@reddit
What? Steam always let you know you don’t own the games.
10-4Apricot@reddit
A lot of people don’t know that, most of my friends think they’re “buying games just like CD’s” You’re not there is a technical and legal distinction between buying a licensed copy of a game off steam and buying a physical copy of a game.
P529@reddit
lmao even if you buy physical games nowadays you dont own them
realddgamer@reddit
I feel like that's your friends issue, because buying licenses is always how it was, even at the very dawn of digital game markets! It was (and still is) the practice on places like the Xbox 360 etc
And the same kind of goes for CD's, you are given a licence to use that disc to play that game, if they have the ID of that CD, and the ability to update the device that plays that CD, they can revoke your licence to play that game (see what happened with the AACS encryption key controversy, this kinda happens to a load of movie dvds)
RuneRW@reddit
The fact that you only own a license for digital media is also alluded to in the beginning of every single movie DVD with the disclaimer in bright red letters
nandru@reddit
and a very limited one
DevianPamplemousse@reddit
Yeah but tou can give or lend a dvd, you can somewhat lent a game on steam but never give it
ghanlaf@reddit
Even then, you didn't own the games. You owned a physical copy of the game, and permission to use it. The right to use it has always been subject to the game's manufacturer.
That's why you have lengthy terms and conditions to agree to, even when installing from cds.
Game licenses have been a thing since the beginning of gaming.
JustABitCrzy@reddit
You’re acting like those games are being taken off people for no reason. They’re revoked on niche cases, such as removal from the platform due to developer misconduct, security breaches, or as punishment for violating terms of use. In cases in which the customer isn’t at fault, they issue refunds. I’ve never heard of any instance otherwise.
ThatHappyDog@reddit
what about when steam changes hands or goes away?
nandru@reddit
That's on them. It was always a license, only nobody cared enough to read to the EULAs. And now that they put that front and center, people suddenly started to care
LanaDelHeeey@reddit
Didn’t steam also put out a statement recently that they support the proposed law to make buying digital things mean you literally own a copy of that thing rather than a license to access it temporarily? Or am I misremembering?
Ck_shock@reddit
I'm sorry people are dumb if they think they actually owned things that are bought digitally and exist in a digital format.
spaceguydudeman@reddit
Oh fuck off, it's not like they were ever being dodgy about it. It was clear that you buy games on your steam account from the getgo. You download the games from steam. If you thought you were buying a physical coly on a digital store, you are to blame, lol
The addendum they had to make is getting people riled up for absolutely no reason as literally nothing changed.
whousesgmail@reddit
This has to be the weakest, loosest version of exploitation I’ve ever seen lol
Boomah422@reddit
People are upset that they agreed to the terms and conditions when buying from steam. Steam hasn't said they are explicitly deleting or pulling games at a certain time as Ubisoft did.
No one is forcing anyone to play steam games. People think that because they pay the fee to play the game that they are deserving or entitled to the bargaining negotiations behind said games which they aren't.
King_flame_A_Lot@reddit
At this point your question becomes an ethical one and not a legal one.
Like is it exoploitation in the legal sense? Probably not. But any money not in circulation hurts capitalism
DasToyfel@reddit
If he makes more money than he needs, he charges more money than needed. Exploitation.
Mattman1179@reddit
I’m not gonna lie bro you just changed this dudes whole perspective
Trigger_Fox@reddit
My main problem with it is that its not clearly stated. But its not unreasonable, and i doubt we'll see valve capping accounts left and right
Popcornmean@reddit
They have actually started to roll out a disclaimer on the purchase screen letting you know it's a license now. Not that it being a license is good, but it's something
Trigger_Fox@reddit
I dont want to seem like a shill, but i dont blame valve for selling licenses instead of games, since idk how they could sell a digital product in a permanent fashion. This may be ignorant of me though, since i think GOG actually just straight up sells you a "copy" of a game.
Anyways what i would like would be the return of physical media. Pcs having disk slots again and we having the option of actually buying games and permanently owning them.
Siul19@reddit
Totally a shill gog sells the game's installer
SilentNinjaMick@reddit
Please bring back disks, that would be amazing. Then you own the game sans updates, and you get a neat physical library along with it.
Trigger_Fox@reddit
Nothing beats having your favs on a shelf next to a few scattered tastefully picked merch pieces you personally like
Popcornmean@reddit
Yeah, gog gives you access to an installer separate from itself, so you can keep the game if gog ever leaves. I don't mind licenses myself because I feel like steam is gonna be around for a while, but it does suck in terms of game history possibly being erased over a long period of time
Trigger_Fox@reddit
My concern is losing my stuff over bureucratic bs, valve is a company after all, all it would take is one dumbass fucking around and poof.
I might transition to GOG, but i already have all my stuff on steam. Steam is also unparaleled in terms of quality, usability and tbf having a cool profile is just straight up fun.
Zolibusz@reddit
Steam is literally a rent seeking parasite. They do almost nothing for the game and ask for 30% from all sales. The platform is almost mandatory to use, as games hate publisher owned stores. They assfuck game developers hard and you love them for it.
Freeze_Wolf@reddit
Solution: Make a better launcher.
Zolibusz@reddit
So change one parasite to another? Great solution!
realddgamer@reddit
So your solution is to just not have game stores? Cool, guess we'll never see an indie game again
Zolibusz@reddit
No. I have no solution. It is impossible under capitalism to have market access without exploitation and it is also impossible to be a billionaire without it. I'm just pointing out that the ethical billionaire mentioned herein is not ethical, but runs a parasitic company.
stormyyyyyyyyyyyyyyy@reddit
private property is exploitation
CountryFine@reddit
Offering a service and people choosing to use your service is not exploitation
redditblows12345@reddit
Burn it all down
10-4Apricot@reddit
Never said that 👌
VidocqCZE@reddit
Other problem is that Steam us unwilling to do anything about setup to "pass the account" in case something will happen to you. Even Apple did some things that your relatives with correct information can access your account. But Steam nope, and it is even against TOS that other person will access your account.
dingkychingky@reddit
Yeah, drm is bad, I agree, but not owning my game isn't that big of an issue for me, they don't really ban you for anything.
FactoryOfShit@reddit
Steam does not force DRM. That's a weird myth thay GOG spreads to keep their sales up. Steam ALLOWS DRM to be used, it's up to the publisher to use it. Many games (for example, FTL:Faster Than Light) can literally be copied to a USB drive and played on a different PC.
BambooSound@reddit
Steam = DRM is at least 10 years older than GoG has existed. People said this at release.
LemonHoneyBadger@reddit
A lot of indie classics that you can buy off Steam have this feature.
CatOnVenus@reddit
You can delete Undertale's steam.api file and it works with no drm
reverends3rvo@reddit
It's astonishing how many people don't bother to read the T&C.
trolleytor4@reddit
Drm that's insanely easy to bypass
kerodon@reddit
Denuvo exists
trolleytor4@reddit
Not steam's drm though, which was your whole point
PanBijo@reddit
May not be easy but its been bypassed as well
kerodon@reddit
For sure. Doable but extremely limited and very few people are been capable of doing it and it takes them 6+ months.
CriticalBreakfast@reddit
There are dozens, possibly hundreds of people out there with enough knowledge in reverse engineering to crack Denuvo.
The problem is that 1) the knowledge on how to do it is kept secret by the few, very mentally ill people that have already done it and 2) it doesn't make money.
Bypassing anti-cheats like Vanguard or BattleEye is also hard, like top 0,1% hard, however there are ample ressources online to give you a lead. Also, you can sell cheat software if you use grey areas in jurisdictions.
Cracking Denuvo is entirely doable for the top 0,1% of programmers, however you'd have to do it from scratch and there's no payout unless you have ties with a government since it's full on piracy and therefore completely illegal.
Now IF cracking Denuvo made money and 10-15 people worked on it as a group, you'd see releases being cracked in under a month, however as long as it makes zero cash in return for basically maximum risk, yeah, nope.
kerodon@reddit
Pretty much. I understand why it is so niche, it's just the unfortunate reality of the situation.
asnaf745@reddit
How does that have anything to do with steam though, publisher chooses to put it in their game.
kerodon@reddit
It was a direct response to a claim that drm is easy to bypass. It was not directly related to steam
Danky_Mcmeme@reddit
Steam was always like that and every other digital game retailer as well (except gog) steam just is upfront about it now even with discs you still only bought a license
T1ElvishMystic@reddit
TBF, the whole cs/tf2 economy is pretty exploitative of people w gambling problems lol
Tomahawkist@reddit
fair
Conch-Republic@reddit
Valve also doesn't pay very well, and their management system doesn't really allow for career advancement, which is why they can't keep talent for very long.
L1zar9@reddit
that’s entirely down to the actual game developers, many steam games don’t have DRM but either way a marketplace platform can’t just unilaterally decide that
Wayss37@reddit
Literally every single online media store in existence works like that, where you "don't own your games/movies/music on your account"
kerodon@reddit
That's absolutely not true. DRM-free platforms like GoG exist.
koopcl@reddit
DRM is related but disconnected from "owning a game" or "owning a license to the game". DRM is basically just anti-piracy.
Consider: Games that came with CD-Keys to limit piracy had a form of DRM but predate digital stores by years, they came with the game CDs/DVDs (hence the name) that you physically bought in a store. On the opposite end of the counterpoint, games you "buy" in GoG are all DRM free but still just licenses similar to those games bought on Steam or Epic or whatever (GoG games cant be resold, cant be sublicensed, GoG reserves the right to remove your license -ie banning your account-, etc).
Also, last point to note: Steam does not force DRM, that's just a generally believed lie. Steam leaves it up to the publisher, they don't make the decision since they are just a storefront. Witcher 3, for example, is as DRM free on Steam as it is on GoG (you can download the Steam version and then play it bypassing Steam entirely if you wish).
Wayss37@reddit
2.1 "We give you and other GOG users the personal right (known legally as a 'license') to use GOG services and to download, access and/or stream (depending on the content) and use GOG content. This license is for your personal use. We can stop or suspend this license in some situations"
3.3 "Your GOG account and GOG content are personal to you and cannot be shared with, sold, gifted or transferred to anyone else" Do you really own something if you can't trade it?
8.2 "Trading Virtual Goods is prohibited (unless you are specifically permitted to do so). Your right to use any Virtual Goods is limited to a limited, nonexclusive, non-assignable, non-transferable, non-sublicensable, revocable license to use them solely for your personal entertainment and non-commercial use in the applicable GOG content. You have no property interest or right or title in any Virtual Goods, which remains the appropriate publisher’s property. Virtual Goods may be changed, amended or reversed if necessary, including to enforce this Agreement. If necessary, limits may be placed on the use of Virtual Goods (including transaction limits and balance amounts)."
11.1 "Regarding GOG services (which includes GOG software), unless you have prior GOG permission please don’t modify, merge, distribute, translate, reverse engineer, decompile, disassemble, or create derivative works of them – unless you’re allowed in this Agreement or by the law in your country" Right, so you "own" something yet have to contact them for permission to do anything with it, like imagine if you had to contact Xiaomi if you wanted to repair your phone.
hails8n@reddit
Get massive hard drive. Install your entire steam library to PC. Unhook PC from internet. From my cold dead hands.
PaulieXP@reddit
Or just buy from GOG whenever possible
chainer3000@reddit
Especially for older games. They actually make sure their games are patched up and playable
ReikaTheGlaceon@reddit
Won't work forever, steam games will occasionally force you to launch games with an internet connection to verify ownership, and steam has officially stated that when you buy a game, all you're doing is purchasing a license to download and play the game, all stored digitally, and because of that, theoretically, steam could revoke access to a game, they're only going to do it if the payment was fraudulent in some way, like a stolen credit card.
TL/DR: Steam sells you licenses to play the games they host and won't revoke any license unless you bought the game with something like a stolen card.
Scorkami@reddit
I mean its not really possible to make a gamestore that lets you own your games. If Activision sells overwatch, no matter how i got it I'm just having a license. There is literally no way around it.
Steam is actually quite user friendly in those situations. It isnt a guarantee that a gamestore lets you play a game that you never installed that is delisted, yet i can play deadpool no problem. They also work on allowing you to share games among family
Complaining that i dont own my games on steam is like complaining at my local tech store that everything here needs electricity and they chose to sell me stuff that i have to charge someway
kerodon@reddit
Do people just not remember a time where purchasing something meant you owned it and assume that system never existed 😅? Or that you had a right to repair your own products you purchased. Having a digital distribution platform does not inherently mean you couldn't possibly retain ownership of a product with indefinite access. They are files that can be downloaded. For sure it's great that steam lets you access delisted products currently. All of these things are wonderful but the fact that they need to be praised rather than being the standard is already deplorable and that's the issue im primarily trying to point out is how abuse is a standard and not an exception.
Scorkami@reddit
no the problem is that you havent been owning your games since the halo times. you never owned those games in the first place. now steam tells people "by the way you dont own this" and people think "steam why would you do this to us" when they literally CANT FIX THIS. THIS IS A PUBLISHER AND DEVELOPER ISSUE.
right to repair is fine and all. and im all for preserving digital media. if the game can be played without a second person, then it should be playable offline or be programmed with an offline mode later on in mind. this shit happened for wayfinder. they literally said "fuck it its offline now and you can host parties on your own" so the game survives no matter what, and its disgusting that some games demand a connection, but for fucks sake people actually think steam has any control over this? or that this (which they dont control) is the reason why their platform is immoral?
literally shooting the messenger.
kerodon@reddit
I'm not calling you out specifically and that comment wasn't intended to be hostile. I'm sorry if it was received that way.
Scorkami@reddit
im sorry i just see a lot of people literally not understand why this issue exists. like i literally just saw someone claim that steam just stole their games and its... frustrating because blaming steam indirectly absolves ubisoft and the like of having to face consequences for shutting down offline games
kerodon@reddit
No it's totally fine! I definitely didn't choose my phrasing as thoughtfully as I should have. That's on me :) just wanted to make sure I clarified my intention since I communicated poorly.
I do think steam has some responsibility for enabling the developers/publishers further but I agree Steam is not where the primary fault lies. I think left to their own devices these publishers would be even more anti-consumer and already have some awful practices they try to normalize.
kerodon@reddit
I do greatly appreciate when devs make an effort to ensure their games can be played indefinitely even when the servers go offline for multiplayer (and leave it to p2p hosting). Yea it's sad that people can't play the older halo multiplayer online functions anymore. You still have access to all of the offline content though.
There is thankfully some movements aiming to make indefinite access a development standard.
dogehousesonthemoon@reddit
tbf steam didn't take away Rimworld when my country banned it, it was no longer offered for sale until they realised they were being morons but I still had access to whole time.
throwaway090597@reddit
That's just the way it works in digital goods. He's been the most pro consumer leader in the space since gaming became a thing. Just because they can take your games away doesn't mean they will. Newell has proven he'll make the decision better for the consumers if it's a choice between the corps and consumers. There's a reason valve never went public.
Karpsten@reddit
Valve is probably still the closest thing to an ethically run business in the games industry. While they are not a real cooperative, they are not publicly traded, a lot of their employees do own stock, and they have a rather flat structure and some form of workplace democracy or other, IIRC.
kerodon@reddit
If that's all's true then yes it's not perfect but it sounds like a way better structure than 97% of other businesses so that's nice to know
Cyber_Connor@reddit
Steam goes by that business model of just being a good service and constantly letting their competitors shoot themselves in the foot
ShopperOfBuckets@reddit
That's how game distribution has been since forever. Even with physical game copies.
Metrix145@reddit
You were being sold a license even with the old disks, they're just way more transparent about it nowadays. If you really hate DRM that much, use GOG exclusively or crack it yourself (if you got the balls that is).
Aromatic_Oil9698@reddit
I'm pretty sure a lot of publishers would straight up refuse to sell on Steam without DRM.
I mean how many Ubisoft and EA titles are on GoG? ($4 billion company btw)
kerodon@reddit
I don't think you're necessarily wrong, but it's because we've enabled them to do so for so long and consumers will not protest the practice. Now it's "standard" so companies and consumers are just going to keep pushing it as acceptable.
Additional-Flow7665@reddit
That's more of the publishers fault than steams tho
kerodon@reddit
Yea sort lf. They enable it though. GoG is a platform that doesn't have DRM. It's a choice.
Additional-Flow7665@reddit
GoG also lacks a lot of games because of that.
They also are a hub for piracy, which I'm not complaining about but investors and the devs whose games you are hosting very much might.
There's a reason GoG isn't as big as steam
NotAnNpc69@reddit
Pretty simple solution.
Become a fucking pirate
kerodon@reddit
It can work a lot of the time, but not for everything, and it relies on the goodwill of people doing the labor of making cracks for free (or being batshit insane like empress). Denuvo also makes it so you're waiting 1+ year for a crack to be felevoped sometimes.
And of course: if you're able to, always support the creators of gaves you loved!
Ajatshatru_II@reddit
Steam is just a little better than any other slop launcher.
GoG for life.
tomvnreddit@reddit
how many GabeN is there out of all the billionairs?
LufyCZ@reddit
The original comment is a blanket statement. The reply is a counterpoint. The number doesn't matter.
inspectoroverthemine@reddit
'exception proves the rule' is a thing
LufyCZ@reddit
While I do like the saying, it's an incredibly stupid saying.
inspectoroverthemine@reddit
Its not, but it has a very specific and legal definition. I'll agree it doesn't apply to where I just used it.
positiv2@reddit
Then why bring it up in the first place, buddy?
Dark074@reddit
Sadly there is one only true GabeN
nissan_patrol@reddit
As a CS2 player he has abused me.
DoggoDoesASad@reddit
Talk to any game developer and they will tell you otherwise
horny_coroner@reddit
Gabe doesnt do philantropy tho. He pays hes workers and they profit from the success of the valve.
Cleveworth@reddit
His favourite class is the spy.
hardcore_softie@reddit
I recently learned that Steam (not Valve, just Steam), makes several times more than Citadel Securities, a hedge fund that set the best single year returns of any institutional investor in the entire history of the stock market back in 2022.
Crazy shit.
cleverDonkey123@reddit
Lots of money made with gambling. Steam and Valve games are great as far as I can see but the economy of gambling is not ethical (chest opening and so on).
Rucs3@reddit
Is he a billionarie?
Honest question. Because someone can stupid rich and still not a billionarie.
Mavrickindigo@reddit
He ain't a billionaire
Cool_soy_uncle@reddit
The guy takes a 30% cut from every purchase on his steam store, that's explotive as fuck.
Aware_Psychology@reddit
No it's not, it's their cut for services they provide. And that service is obviously valuable. If it wasn't worth the cost people and developers/publishers would chose the alternatives like Epic Store where the cut is smaller.
rancidfart86@reddit
Steam should just exist for free
Foxehh4@reddit
How many people put in significantly more work to help him and don't have 1/1000th of his wealth?
Aware_Psychology@reddit
This is a nonsensical argument.
Just because you work more doesn't mean your work is (more) valuable.
If I were to dig foudations for a building with a shovel, I would work WAYYYYY harder then a guy that would dig them by an excavator. Does that make my foudations more valuable? Of course not.
Same thing with Gabe Newell. He has/had the mind to create services/products that are used by millions of people each day. It's only natural it made him rich. There's nothing unethical about that.
Mr-Stuff-Doer@reddit
I don’t think anyone at Valve does work, so not sure that’s a real argument here
MinikTombikZimik@reddit
That's not his fault
slop_sucker@reddit
reminder that you own none of the games you bought on steam.
jean_cule69@reddit
Come on, we all know that no one employs a steam engine to crack a nut. There must be more to it
fungalapologist@reddit
theres a lot of shady stuff and illegal practise going back to the early 2000s regarding steam and valve corporation if you take a second to read into it. original point stands.
Dxpehat@reddit
Steam gets a very big cut from the game's sales. 30% compared to just 12% from Epic Games. Big studios can manage, but losing 1/3 of your turnover is a lot for indie developers.
Kiwi_Doodle@reddit
Steam takes 30% of your game's profits for just existing on it. Doesn't sound very ethical to me.
BambooSound@reddit
I find it so crazy that everyone's now decided DRM in PC games is a good thing.
People hated Gabe when he first released Steam.
rektefied@reddit
the guy that has multiple yachts?
Magical-Hummus@reddit
He sells gambling to teenagers and addicts that tried escaping real life gambling with video games.
maxcraft522829@reddit
Have u seen the steam controversies lately?
nitonitonii@reddit
He did distribute the wealth among his workers. Otherwise he'd be waaaaay richer.
RB1O1@reddit
A minor exception,
That is only an exception on a technicality.
LordPeebis@reddit
Is this the asshole that wouldn’t make half life 3?
cupnoodledoodle@reddit
Well you don't own the games..
OldJames47@reddit
30% of each purchase you make on Steam is kept by Valve. This is based on the retail model where stores have to build physical buildings for you to go to. Pay employees to stock shelves and interact with you. Build distribution centers to warehouse incoming goods and pay people to ship them to stores.
Gabe and Valve don’t incur any of that costs, yet charge that same commission. It makes Valve incredibly profitable. It makes your games cost more. It makes small game development less profitable and big publishers chase blockbusters like COD:MW:GR:BO 7.
Also, it means Valve doesn’t have to do much of anything to rake in money. Such as developing Half Life 3.
komali_2@reddit
Gaben should more evenly distribute the profits but 30% is a bog standard markup for middlemen like distributors, shops, etc.
Steam absolutely has costs. Do you have any idea the cost to maintain the infrastructure that allows >100mb/s downloads worldwide to tens of thousands of people simultaneously? Not to mention r&d into shit like the steam deck that creates new platforms for gamedevs to build for.
SenpaiDerpy@reddit
Are you seriously that stupid? Yes, Steam does not have the costs of employes and rent that physical stores do, but it is also a completely different service. For that 30% commission on steam purchases you are getting distribution (you are using valve servers to download), marketing (store page), player support and other features such as in-game market or social functions. All of these things cost money. Servers need to be kept running, player support employees need to employed and those functions need to be designed, programmed and tested. So it is not 30% for nothing as you have put it, if it were people would jump to competitors. The 30% is just allocated into different things.
OldJames47@reddit
You haven’t thought this out.
They have costs of goods and services just like retail stores do. But because their products are virtual they are able to scale up to a global marketplace for a fraction of the cost. Yet they charge the same commission.
Let’s look at distribution alone. Valve could run their entire operation out of 1 data center and host the store page, process credit card transactions, distribute installers, and validate purchases for DRM. They surely have more for disaster recovery and to lower latency on each continent. Let’s say they have 1000 locations, they don’t need the entire data center to themselves, just a rack or two for each. Compare that to a retail store shipping around physical goods. They would need hundreds of thousands of stores to have the same global market. Those stores would be supplied by thousands of distribution centers. The real estate cost alone dwarfs the hardware and bandwidth cost.
SenpaiDerpy@reddit
Again. It is a different service, Steam does not provide distribution alone, therefor comparing it one to one with retail stores is mental.
OldJames47@reddit
You mention distribution and I already addressed that. But the other things you say Valve does, retail stores do as well.
Marketing, you have the Steam store page. Although I would put that under distribution you did not, so I’ll compare that to a physical store like a Walmart. Again that’s cheaper for Steam to run. But Walmart has to run ads to get you to go to their store instead of Target, or Safeway, or AutoZone. The most I’ve seen out of Valve is logos on game developers websites. Again lower cost to Valve.
Player support. Valve has people in a call center somewhere answering chats and processing returns. Walmart has a call center doing similar tasks and physical people at each store.
In-game market. How is this a separate feature from the Steam store? It’s just an API connection between the game and the store. Valve had to create it once and make some upgrades over time, but the game developers are the ones implementing the client side because they want the micro transactions. Since this is basically just processing payments I’d say the store equivalent is credit card processing terminals and the computer system behind it.
Lastly you mention social functions. I guess you have me there. I’ve never seen a retail store with a chat application, nor a PA announcement that SenpaiDerpy has entered the little boys department. But that’s about all that Valve is doing , plus a bulletin board chat room. These are 20 year old technologies.
Given all the areas where Steam is cheaper to run than a physical store, the social functions do come close to being expensive enough to justify the same 30% cut.
LordIVoldemor@reddit
What if those 30% are actually 0.3% and you are dyslexic?
OldJames47@reddit
Well that would be wonderful. But that not the reality we live in
LordIVoldemor@reddit
Fair enough, but it's not any different in other fields. When you publish a book (unless it's self published) you earn a very small amount of money from each sale. It's the same with items and any sort of product that you put out via a distributor.
CCCPenguin@reddit
The last game I bought on Steam was $1.99 and I’ll probably never play it. Who cares if that is with a 30% markup or not?
OldJames47@reddit
The game developer. And if you buy a $60 game that’s $18 to Valve and $42 to the publisher (who then pays the studio).
Valve chose 30% because they wanted to take that money, not because it cost them that much. They could take less and still be phenomenally wealthy. Gabe is not a good billionaire, he became a billionaire by extracting that wealth from others work.
CCCPenguin@reddit
Ok, but if it wasn’t for Steam sales there is no way I would bother buying most of these games (many of which I already own physical copies for various consoles), so the publishers would be getting zero dollars. I understand that Steam could take a smaller cut, but they aren’t exploiting me, I’m choosing to use their service.
komali_2@reddit
No, that's the exception that proves the rule. Gaben runs his company like a little anarchist syndicate, and makes his employees very rich, but he's still a billionaire because at the end of the day he profits off of their labor. He owns the means of their production.
It just goes to show that even if you're as good as is physically possible to be under capitalism - flat hierarchy, massive profit sharing, keep the company under private ownership, invest heavily in R&D... you STILL are profiting off of other people's labor and exploiting them.
But people get away with it because dumbasses will compare you to an 18th century Romanian peasant getting terrorized by aristocratic vampires and be like "well well well aren't you a whiny whinerton, with your iphone and your not-getting-eaten-by-vampires lifestyle." What we really should be comparing to is the absurd power wielded by even the "nice" billionaires like Gaben, a man who has a private fleet of 3 massive superyachts, one of which is an entire ass hospital ship dedicated to keeping him alive if he gets Covid.
That's madness, that's unnecessary, and nobody should be allowed to wield that level of power and wealth if there's kids in the same country that can't eat.
Sorry gaben, love you to death, but 90% of your wealth should be liquidated and used to feed kids.
GenuineGold@reddit
Gabe Newell runs an online casino dude
throwtheclownaway20@reddit
Did he make a billion or did his company?
Jacko_Moto@reddit
Well one could argue that a lot of his wealth basically comes from gambling (which gets worse when you think how young some of the players are) and also having this big community market. Which basically is a real market without any regulators that is used for market manipulation just like skins are also used for money laundering and valve for sure could do more against it.
Other than that and him being a workaholic and shitty father, I would agree he might be the only one if he is paying his fair share in taxes
Incognitomous@reddit
Got literally most of his wealth by marketing gambling to teenagers and young adults lmao
salmeone@reddit
Could easily just lower their fees and save money for everyone
TheNextDump@reddit
You can't be serious 💀
JapanCat27@reddit
Even if there was a billionaire that gained all they money by themselves and didnt exploit anyone (spoiler alert: there is none and never will be)
Them hoarding that much wealth would still be immoral and questionable at the least
InsomniacLtd@reddit
Not against Gabe Newell, but didn't Steam recently just outright state that what they sell are video game licenses rather than the actual ownership of the video game itself.
ReikaTheGlaceon@reddit
I mean, any game hosting platform is just selling you a license, unless it's a disc, you don't own it, I feel like this is a non-issue that people are blowing out of proportions.
failedsatan@reddit
they did outright state it recently. they also outright stated it five years ago. and ten years ago. they're not really a "villain" here, just doing what everyone in the industry does.
Kulson16@reddit
It was always the case it was in user agreement now it's just on front page
Siul19@reddit
Valve has done lots of unethical things
ErnestGoesToHeck@reddit
Based gaben
295DVRKSS@reddit
Based patron saint Gabe Newell*
funatical@reddit
Preach brother, preach!
ComicBookFanatic97@reddit
No. Incorrect. Poor people are not poor because Jeff Bezos is rich. It doesn’t work that way. The economy is not a zero sum game.
Joaonetinhou@reddit
But Jeff Bezos sure as hell is rich because he underpays his workers. Which are poor.
ComicBookFanatic97@reddit
Those workers agreed to their pay and are free to search for better-paying positions elsewhere.
Joaonetinhou@reddit
And still Jeff Bezos will pay shit to those who take the job.
People aren't poor because they want to, nor they are underpaid because they want to. People don't stay in dead-end jobs because they want to.
ComicBookFanatic97@reddit
I don’t think most people want to work at all. They work because they want to eat and keep a roof over their heads. This is nothing new. What’s your point?
Joaonetinhou@reddit
The point is that people need to be paid shit in order for billionaires to exist and that nobody should be paid shit, because being paid shit means having a difficult life. Not the ones already in the end of the chain nor the ones who will take their place should be underpaid.
People deserve dignity and comfort in life. And, yes, people with high paying jobs stay in their jobs because they want to. They can use their savings to get better education, which is unfathomable for 99% of low wage workers because they can't have savings.
ComicBookFanatic97@reddit
Any given job is only worth so much. What someone earns by working is primarily determined by what the work is worth to the employer and what the employee is willing to accept. We could go back and forth about what people should be paid and what people deserve all day, but it doesn’t change the fact that if you have a job that just about anyone can do, you generally won’t be able to command a very high wage.
Le3mine@reddit
It absolutely is. You think that the ultra wealthy can exist without a big layer of poor?
684beach@reddit
1st world “poor” or actually poor?
Le3mine@reddit
Both. Also 1st world "poor" is still poor. If you have to stress about every single penny you're spending cause you might lose everything if you don't, that's poor.
684beach@reddit
Not in the same way at all. Thats just typical life. The difference is the level of nutrition people get, and their children. It matters more than possessions.
Le3mine@reddit
Oh how fun, let's keep arguing semantics.
684beach@reddit
Its only semantics if you generalize everything
ComicBookFanatic97@reddit
Wrong. In a zero sum game, what’s good for you is bad for someone else. That’s not how a transaction works in a free market.
Just as an example, imagine a guy selling hot dogs out of a cart for $3 each. Now imagine that you want one. You want the hot dog more than you want the $3 and the vendor wants your $3 more than he wants the hot dog, so you trade. Both of you got what you wanted, so both of you are better off. That’s not zero sum.
That’s how companies like Amazon get so big and successful. They give a lot of people what they want for prices those people find acceptable. That’s not something to be mad about. That’s a net positive for all of us.
scorpionballs@reddit
Not totally true though is it? Surely there’s an argument to say that Amazon have aggressively pushed a generation of independent shop owners out of business and potentially into low paying distribution centres instead.
inm808@reddit
And as a result citizens save time and money, getting stuff cheaper on Amazon and having it delivered faster.
Res_Novae17@reddit
Yes, it is a very complicated argument. Redditors suck at appreciating complexities and weighing the benefits and costs of things. The reality is that you have to look at a company like Amazon holistically. They have forced what would have been many small business owners into lower paying jobs, and this is bad. They have also dramatically increased the convenience of shopping for billions of people around the world who no longer have to drive to several different stores to get stuff, which incidentally also reduces global carbon emissions, and this is good.
Is the goodness of the good more than the badness of the bad? That's an interesting debate.
greenhawk22@reddit
But how much is bought that otherwise would not, completely eliminating the carbon offset
FinestCrusader@reddit
That's the way the problem should be addressed and worded. Not the typical "omg he has lots of le moneh, that's why millions are poor". His net worth in and of itself has no effect on anyone else's net worth. It's how he acquired it.
HankMS@reddit
You mean ship owners who thought their business model would be viable forever and this never changed anything? Those businesses still have every opportunity to be viable, they just need to innovate a little and focus on what advantages they have. But they are lazy. They simply wanted to go on as they did for the last 20 years until retirement. But that is not how that works.
scorpionballs@reddit
Not sure. Amazon is more of a technological / societal sea change isn’t it? What could the local Victorian textile workers have done to combat the new factories?
HankMS@reddit
I mean for some things it might be too late now, but there are still local shops going strong. They simply offer other services that Amazon does not. Repairing for example or initial setup. Obviously this approach cannot work for everything, but Amazon was not inevitable. It was the book shops not changing their relaxed lives that made the free shipping approach viable in the first place.
scorpionballs@reddit
Yeah I hear you
Lolmemsa@reddit
The funny thing is that if you’re an employee, you’re far more likely to face abuse from a small business owner than a large company
JruBoinz@reddit
Imagine Bezos wealth split among all Amazon workers and them spending it instead of hoarding it like Smaug. That would absolutely have an influence on the economy
ComicBookFanatic97@reddit
That would be theft and I shouldn’t have to explain to you that theft is wrong.
Ecstatic-Compote-595@reddit
land
asongofuranus@reddit
I don't understand why this still keeps coming up. The reason Bezos and Musk exist and have yachts has literally zero effect on everyone else. Nothing would have changed if the billionaires didn't exist.
The problem is that people don't have shitty lives. It's that they're comparing themselves with the 0.1%. If you want to see true shitty existence and poverty go to Africa and Bangladesh and India etc. Don't fucking cry on your iphone while sitting on a toilet which you will flush with drinkable water that you have a shitty life. God I hate people so much.
Davethemann@reddit
Most of his wealth is in stock lmao, unless you want the government owning business, youre not going to stop him too well
L003Tr@reddit
Nah, you could hand out billions of dollars but if it's not distributed correctly its a waste of time. Corruption's a much bigger issue
InquisitorMeow@reddit
Don't hand it out then. Enable universal healthcare, support unions, mandate better pay and less off shoring jobs then let the people choose how to spend their own money.
Mitchel-256@reddit
Also, money given freely is almost never spent responsibly.
TurretLimitHenry@reddit
“Hoard wealth” his wealth is almost entirely comprised of the company he built
doge57@reddit
You mean Bezos doesn’t have a Scrooge McDuck style vault of gold coins? His wealth is a theoretical calculation based on the highest value his shares of his company currently go for and does not accurately represent the liquid value he can achieve? Who could have thought?
InquisitorMeow@reddit
If you can borrow money against it seems pretty tangible to me.
TurretLimitHenry@reddit
For bezos to hoard wealth, he’d have to cash out on all his assets and store it under his bed. Literally everything else, his money gets used by banks to reinvest in the economy.
That_Ad8236@reddit
How to become a billionaire without exploiting every possible resource and person:
Step 1) Start a company
Step 2) Company becomes very successful, employs a lot of people, you are now a billionaire, you don't actually have a billion dollars in your bank account like redditors think, you own a majority stake in a company worth billions.
So what do you propose should happen? Should they be forced to sell their stock?
InquisitorMeow@reddit
I think there's quite a few steps missing between start a company and it being worth billions of dollars.
Joaonetinhou@reddit
Maybe they should try fixing this broken ass system.
And not by making donations that barely graze their net worth. By making politics. By supporting universal healthcare. By supporting empty land redistribution.
YupSuprise@reddit
Their ownership of the company should have been diluted by rewarding shares to the employees that built the company up in the first place. The issue herein is that we give the majority of rewards to the founder and never to the thousands of employees that also significantly contributed to the company.
Daysleeper1234@reddit
Will employees take loses if company fails?
Le3mine@reddit
Will the owner?
LevSmash@reddit
When an owner or CEO oversees a company that is not profitable, they lose their income, yes.
Before someone brings up the "golden parachute", that happens to specific employees who have these agreements in their contracts, not owners. Most non-publicly-traded companies where there is a private owner, if they lose their income, there is no such mechanism. They can declare bankruptcy, but that's not a golden parachute.
Le3mine@reddit
Owners of most non public traded companies are not billionaires.
LevSmash@reddit
And if those companies fail, the owners bear the losses, you're proving my point. Not sure what point you're trying to make, you originally questioned if owners take losses.
Le3mine@reddit
And your point is moot since it's not the point of discussion. Nobody is arguing against John's catering company, or Jack's mechanic shop. People are arguing against Jeff or Elons empires with more power and wealth than Mansa Musa.
Daysleeper1234@reddit
When the company was started, he took the risks. If the company didn't become successful he would be the one bearing the loss. Now he should just hand it out to everyone, just because?
Res_Novae17@reddit
If they were given stock options, then possibly. The comment you are replying to is suggesting that they be simply given shares at no cost as a compensation. So if the company fails, their shares would drop to zero and they would simply not get the extra money.
Daysleeper1234@reddit
I understand the comment, you don't understand my point. I think that early employees of Microsoft were awarded stocks and are now millionaires, I'm not sure is that common practice with other big companies, but they were paid in those stocks for their contribution when the risk was tangible. What you are proposing is that I should get employed by Amazon, and that Bezos should give me stocks for free, but when the company was started and it wasn't on the stock market, if the company had failed, Bezos would be the one facing the consequences of that failure. What you are saying makes no sense.
YupSuprise@reddit
I dont think you understand that you can own shares in a company that isn't public. This is somewhat common in the startup space. What I am arguing is that the split isn't fair, especially considering founding engineers tend to be awarded pitiful percentages less than 1% despite the considerable risks they're taking by joining a startup.
Daysleeper1234@reddit
Amazon wasn't a start up, nobody forces them to join a startup and they are aware of what they sign, and you are now just diverging the discussion. I mentioned in other post that people who worked in Microsoft when it started and helped build it up were rewarded stocks and are now millionaires, but those were dozen of people who were paid in stock when it wasn't sure what would happen. Company could have failed, and then they would have been paid nothing. But that's not what we are discussing. You want thousands of people who helped ˝build the company˝ be awarded stocks, even though they signed a contract with the company and were paid for their work. They took zero risks, they weren't there when it wasn't sure would company succeed, and they were paid for their work, but now Bezos should just give to those employees stocks for free. Why? Because fuck it. You people are delusional.
YupSuprise@reddit
I don't think you've ever founded a company or have ever worked in tech. You don't know that you can own stock in a private company and clearly don't understand that employees of Amazon do get stocks as part of their compensation package even as new grads. My argument is that stock based compensation should be a more significant part of the pay package as opposed to the pittance it is today.
Daysleeper1234@reddit
You are either not capable of understanding what I'm saying, or are purposefully misinterpreting it. I do know both of those things, but they have nothing to do with your claim. You said their ownership of their companies should be decreased by giving larger part of shares to the employees. Awarding certain people with certain amount of shares is what is going on now, what you want is that he gives huge amount of his ownership if not majority to people who work under him, are paid for their work, and didn't take any risk when the company was started. Like I said, in Microsoft case people who helped build up company were awarded with enough shares to make them millionaires, you want that to be spread to 1000s of people, not understanding how stupid that is, and I bet you wouldn't do it if you were in his or their position. Now cheers, I'll be leaving you and your stupid ideas.
YupSuprise@reddit
Actually I work in high frequency trading and extremely high stock options/ profit sharing for normal employees is the norm. As a result median salaries are well above 300k. Sorry you don't think your contributions are worth making more than 1% of the CEO.
UltimateInferno@reddit
Yes they lose their jobs. In fact whenever a company faces hardship they're the first to go through mass layoffs while the heads usually remain.
Daysleeper1234@reddit
They only lose their jobs, of which they are aware as the owner is aware that his investment can and probably will fail, if you invest your money in a company and the company fails, you lose your investments and in many cases much more.
YupSuprise@reddit
That's not a responsibility that shareholders or founders already have so I don't see why they would. It's called a limited liability corporation for a reason.
Daysleeper1234@reddit
You forgot that he started the company and brought it to that level. So if company fails at the beginning, which in first 5 years seems to be case for majority of companies, they shouldn't be included in any risks, but if company is successful, they should be rewarded?
YupSuprise@reddit
The founder doesn't take losses to begin with. I don't think you understand what an LLC is. The founder is not responsible for the company's debts. In the case of a company failing, their shares would go to 0 and this would hold true for both the founder and employees.
Daysleeper1234@reddit
If company failed when it was started, he would be the one losing the money. You are talking about something that happened after the company became successful.
Feature_Fries@reddit
Shhh stop thinking critically
LevSmash@reddit
Okay, so what percentage should the founder retain? Do they keep the majority so they can still make the key decisions, as they have proven themselves capable of to that point in making the company successful? Or should the decision-making power be placed in the hands of people who have no idea what to do with it? The company fails, everybody loses their income... but you stuck it to the founder, that'll teach 'em to start and run a stable business.
Leadfarmerbeast@reddit
I do think there should be better mechanisms in place to donate stock to charity without losing ownership rights. The corporate consolidation model we have now puts so much emphasis on stock price that so many business decisions are made that only serve to temporarily boost share price. Maybe if executives were getting less personal gain from those stock price increases, they’d be more open to actually looking at business processes that are sustainable in the long run. As of now, as long as you can cash out before the company collapses under the weight of short term decisions, there’s no incentive to not just kill the golden goose.
Junahill@reddit
So, they’re a ‘paper billionaire’—still profiting massively from other people’s work. Whether it’s in stock or cash, it’s all built on squeezing labor and resources dry. No one’s saying they’ve got a billion in their checking account, but here’s the thing: they use that stock as leverage to get massive loans at ridiculously low rates, paying little to no tax in the process. It’s wealth they can access without ever having to sell a single share, and all while the rest of us get taxed on every dollar we earn.
Ecstatic-Compote-595@reddit
why aren't you a billionaire then
jackshiels@reddit
You’re assuming they think further than “he richer than me he bad”
lekkek11@reddit
I feel there's a lot of steps between starting a company and becoming a billionaire.
Besides our economic system is very inherently competitive. Which means if you don't cut costs and invest more into your company someone else will, and what that often includes is being exploitative of your employees.
A fairly big percentage of operating costs of even companies with a few employees is the salaries. If the field is oversaturated with workers (or you don't need specialized workers) you can generally pay them pennies as there's always someone desperate enough to work.
So companies are naturally very prone to getting very exploitative.
I suppose your best bet for becoming a billionaire ethically would be being an artist or like a lone coder who makes something extremely important.
Reasonable-Plate3361@reddit
People who accuse billionaires of “hoarding wealth” don’t realize that wealth can be created. We don’t like in a zero sum game lmao. It’s not like we’re all poorer because bezos is richer.
llIlIIllIlllIIIlIIll@reddit
Lmaoooooooo wot
SerialStateLineXer@reddit
The shit floated straight to the top in this thread, didn't it?
ihatemalkoun@reddit
Reddidiots gotta reddit
-deteled-@reddit
Sad state when nobody knows the difference between wealth and liquidity. Sure people like Bezos, Buffett, and Musk are wealthy; but most of that wealth is tied up in their businesses being valuable. Market Realist puts Bezos cash on hand at $12.7 Billion, which is still a huge sum, but just because someone is worth $119B doesn’t mean they can quickly access it.
your-mom-jokester@reddit
Yes you do. Just provide billions of dollars worth of value to others. Name one single person you know who doesn’t use Amazon for… everything
komstock@reddit
You talk about money as though it's a zero sum game.
Money and the economy is/are not a zero sum game.
kerodon@reddit
I talk about capitalism like the system of abuse and exploitation that it fundamentally is.
Deathbyseagulls2012@reddit
I can’t believe I cruelly exploited people by getting a degree and a job instead of sitting on my ass 😢
CursedKumquat@reddit
Le capitalism is bad. Please update your Reddit talking points. Capitalism isn’t inherently more exploitative than anything any socialist regime would implement, in fact it’s much less so.
Socialists won’t admit that nationalization of industries is more monopolistic than anything Jeff Bezos could ever dream of because everything would be owned by one single entity: the state. And it has its own army to force its will onto the populous. You just have to hope the regime is a friendly one that is willing to give citizens/workers any rights because if it isn’t you end up with a system like the Soviet Union where the only employer is the state and is extremely repressive, and there are no alternatives because private enterprise is outlawed.
Brilliant-Mountain57@reddit
You're very clearly confusing socialism with communism. In most interpretations of socialism I've been exposed to, the state does not own businesses. The people working at those businesses do.
Sanguinor-Exemplar@reddit
Don't forget the part where it's a classless society. Except for those people who are party members and control everything and all bought in 100% who definitely do not have any desire to own more than anyone else.
And then don't forget the dozen ultra elite in the selfless-happiness-of-the people-bureau-commitee that are not just kings in all but name.
I swear you name your party socialist and say it's for the people and people will goose-step with a smile and their arms raised. Marketing is the only thing that matters in the world
BSY_Reborn@reddit
Socialism’s a classless society, where all workers are equal. Except some workers are more equal than others.
komstock@reddit
As opposed to every other system that has been tried amongst humans? I mean, dude, 'Tombstone' by Yang Xisheng is a ~1000 page tome which is a testament to what our alternative is in practice. I recommend owning a copy but it is a tough read.
The answer to the bad things that you're seeing has to do with power consolidation, monopoly, and artificial interference in markets.
The moral decay of greed and consumerism has to do more with cultural change. It is not fiscal policy that enables people to have choices.
I can understand why you see these people with incredible wealth and look at them with (to be light) contempt. But redistribution, collectivism, centralization, and bureaucracy are the tools that those very people--or others who will take their place--use to subjugate the many.
The free market is amazing and why we're able to argue on this post. It is collusion, monopoly and power centralization that is our enemy. Not wealth or market economics.
Brilliant-Mountain57@reddit
It is fiscal policy that pushes those people towards those paths. Also you do realize those "cultural changes" are incited by the same system you're defending? Big corporations actively and successfully shift public perception towards being more consumeristic, it's called marketing.
theJigmeister@reddit
Power consolidation and monopoly are the only logical conclusion to markets without interference, whether your belief in the "invisible hand" likes it or not
Papi__Stalin@reddit
Adam Smith, the father of free market economics, envisioned a role for the government in markets. First it was to provide goods that would not be produced, second it was to ensure the conditions to allow for free enterprise and competition in the free market.
Free market economics isn’t simply absence of government intervention, it is about the government helping create and maintain a free market economy allowing for competition.
This point has been made by some of the earliest free market thinkers, such as Smith. They recognised the governments role (and duty) was to intervene to prevent monopoly and power consolidation that would hurt the free market in the long run (by making it no longer free). Some free market thinkers such as J. S. Mill even advocated for a radical inheritance tax to break up the land holdings of wealthy individuals so that the next generation wouldn’t have an unfair (and uncompetitive) advantage.
This isn’t the gotcha you think it is. In fact this point has been part of free market economics since its inception.
trentshipp@reddit
Monopoly can only happen because of interference.
pcgamernum1234@reddit
Sure if you believe that name a monopoly that came about due to the market without interference? And I mean an actual monopoly not just majority share of the market like big steel had. 100% of a product not counting something that is brand new.
komstock@reddit
I mean, anti-trust legislation is good.
The more we can make government offices compete with one another for power, the more they'll be inclined to nip at big companies pushing up against that power.
Right now, in the US we have a congress that's delegated a lot of its power away to the executive branch. People just become congressmen for a paycheck. My understanding is that reversal of the chevron decision will now force congress to pass legislation and argue it over rather than let unelected bureaucrats simply wave their hands and make things illegal. In turn, it changes that congressional seat from some kind of simple cash cow lobbying handout job into a job competed over by the power hungry (who compete with each other).
If the rich and powerful are at each other's throats, they don't have time to put the boot on ours.
It's similar to why I love superyachts. Those stupid boats are like sacrificial anodes for people who would otherwise be horrible megalomaniacs channeling that energy onto us. Some horrible oil billionaire is out there arguing with some ship architect about what kind of candleabra they want on the bridge rather than arguing about how they want to fund some kind of subversion of a sovereign nation or some other insidious behavior.
XDDDSOFUNNEH@reddit
Amen. We don't need a remake of what we already have, just a retuning.
justpassingby3@reddit
Still better than communism, which is made to be abused.
As if the same people abusing the system right now wouldn’t be the same ones to rise to power in a communist state and still abuse their authority.
Yabboi_2@reddit
No one mentioned communism
Smooth_Instruction11@reddit
You talk like somebody with an avatar wearing a froggie costume
Ecstatic-Compote-595@reddit
yes it is
playerhateroftheyeer@reddit
Nuh uh
Ecstatic-Compote-595@reddit
yes it is you restart. At any given point it's a bandwidth issue, there is only so much available x commodity available. Land, gold, copper, lead, pewter, water, air, whatever.
Chaotic_Narwhal@reddit
Billionaires like Bezos are scum but slogans like “exploiting every possible resource” and “hoard wealth” make you sound completely ignorant on the topic
inm808@reddit
Pretty sure everyone who invested in Amazon made a ton of money along with Bezos. Including basically everyone’s 401k and pension fund as well as the government itself.
It’s not zero sum
gotbannedforsayingNi@reddit
Zeljeza@reddit
depends on what you consider explotation. His working conditions are abhorant and I don’t know how much sway he has in governmental decision making but any tinkering with the democratic decision making should be harsly punished. However if one becomes a billioner by being a good buisnessman there’s nothing wrong with that. A person can creates wealth for himself
TurnYourHeadNCough@reddit
is this satire?
Better-Citron2281@reddit
Uh no.
Even in places qithout billionares there is still poverty. If anything there is more poverty.
Before the idea of capitalism and billionares there was still poverty.
We have poveert for a very simple reason, some people dont strive to better themselves, and some of the people that do strive for it, fail.
It's as simple as that.
kerodon@reddit
Yea before we had serfs and lords which was functionally the same system. A working class and a ruling class. Putting a different name on it changes nothing.
And it's pretty terrible to view poverty as an individual failing that you have complete agency over. It is a systemic issue. Poverty doesn't need to exist inherently and there silently of people who put in effort but can't dig themselves out of poverty.
There is a difference between everyone being wealthy with disposable income and everyone having their basic human needs met. Maybe your definition of poverty is the issue.
Better-Citron2281@reddit
Literally no system ever, since the dawn of man has had no poverty, the literal closest we have ever come, is the U.S. for the past few decades, Even the poorest people in the U.S. live better than a sizeable chunk of the rest of the world.
You want an impossibility because it sounds nice, but it's still an impossibility. Your grasp on reality is the issue.
kerodon@reddit
We have the resources to solve homelessness and hunger in the US. The ruling class intentionally chooses not to. Poverty as it exists is not necessary, it is a deliberate thing we choose not to solve.
Better-Citron2281@reddit
Except we dont.
We have actively tried to give homeless people housing, we have food shelters open across the U.S. yet some people choose to either not use either, or use the housing and then instsntly destroy it and leave.
Literally just look at california, they have tried to give out free housing to the homeless and it failed miserably, because suprise surprise, when homeless people exist in one of the wealthiest and most class mobile lands to ever exist, it's because a lot of them have some sort of mental illness or several addictions. Not all, not even most, but a fuck of a lot and that's for sure.
See, that's the issue that throws a wrench into all these utopia plans people come up with. People. Humans can be kinda fucked up, some humans want to be homeless, yea it sounds insane, and it's next to impossible to understand, but some people prefere the responsibilty free life that comes with having no one and nothing to care about. All these solutions work on paper, when you ignore that humans are a flawed species, and the only way you could have one of these plans even attempt to work is if you 1984d the whole country
kerodon@reddit
As someone who has tried to seek affordable or free housing, I can tell you that isn't a thing for the vast majority to access. Food access is still limited. Any subsidized social programs are socially stigmatized.
And maybe some people take advantage of the system but so what? Do you expect people living on the streets to be mentally healthy and functional adults when they've been broke and neglected for years? Do we think every person who's homeless is a drug addict and going to destroy property they're given?
The vast majority aren't going to abuse systems when given support. We have plenty of evidence that these systems help people and lead to better outcomes.
And also even in California, it costs more to allow homelessness to continue than to solve it. And that's true for everywhere else. It is literally more expensive not to deal with it.
Better-Citron2281@reddit
"We have plenty of evidence that fhese systems help people and lead to better outcomes"
We do? California is the premier state for programs to help the homeless, it's also the state with the most homelessness.
It's almost like if you develop a system, where people can reliably live off of it, whilst contributing absolutely nothing to society, people will flock to take advantage of it.
CucumberHojo@reddit
This is so braindead stupid it could only exist on reddit, yet, even still, it is shocking.
Amazon employs 1.6 million people. Society made Bezos a billionaire by using his service. You have a problem with poverty, take it up with the government which has TRILLIONS of dollars and audit federal/state agencies to see where our tax dollars are actually being used
AtomicMonkeyTheFirst@reddit
There is less absolute poverty now in the western world than at any point in human history.
inspectoroverthemine@reddit
The problem is that productivity per hour of labor has skyrocketed in the last 100 years, and that increase in wealth has gone almost exclusively to the top 0.1%. The rest of the world produced 1000% more than they used to, but only kept 10%.
h088y@reddit
That's a really good point
Brilliant-Mountain57@reddit
And there'd be less across the whole world if we'd stop the harmful cycles of exploitation our system runs on.
Ecstatic-Compote-595@reddit
lot of qualifying words in that sentence
123Littycommittee@reddit
Yeah, because it's a wrong sentence, the actual reality is that there is less absolute poverty now in the whole world than at any point in human history.
Buckfitches88@reddit
What a stupid simplistic worldview. I wish I was this naive lol
bigmannordic@reddit
Kid named non-liquid assets:
keeleon@reddit
Who did JK Rowling exploit?
Yummucummy@reddit
If you win the lottery and win a billion, wouldn't that be ethical?
Sonodo@reddit
Wealth is not a zero sum game. Let's say you invent a drug that increases the average healthy lifespan by 5 years and become a billionaire selling it. You didn't take the fortune from someone else, you created wealth out of nothing by increasing the healthy years of people and benefited from that. The other people also benefited.
FinestCrusader@reddit
No no no. Whenever you earn a dollar, that dollar has to be stolen from some poor worker in India because there's a finite amount of banknotes. Buy my course to learn more.
jackshiels@reddit
You’re being downvoted for stating the most basic economic facts lol this site
jackshiels@reddit
Fundamentally incorrect understanding of how wealth is generated, but not unexpected for le Reddit
kerodon@reddit
Let's go look at the working conditions and wages of Amazon employees and the destruction of any union attempts. Sure bud.
jackshiels@reddit
Literally a different topic but please do go off about how le billionaires are responsible for you not being rich (economically impossible)
kerodon@reddit
It's absolutely not a different topic. I'm talking about the inappropriate distribution of wealth and poverty which is intrinsically related to megacorporations and wealth hoarders.
And nobody said everyone should be rich. There is a difference being being rich and having a reasonable minimum quality of life and livable wages. I don't think not being homeless and insecure worrying about food and healthcare is "rich".
123Littycommittee@reddit
It's 100% a different topic because you know you were wrong, and you are just a socialist with no understanding of economics...
If you want to change a complex system like capitalism, you need to understand it, and you clearly don't.
kerodon@reddit
I like watching people advocate against their own interests and defend systems that consistently press them and destroy everything around them.
jackshiels@reddit
My interests are to dunk on economically illiterate redditors and to know what’s better for me than some patronising ‘class struggle’ nonsense lmao
123Littycommittee@reddit
Can you read ? Pls show me where I defended capitalism, I literally just said, if you want to change it, you need to understand it
jackshiels@reddit
Wealth is not 'hoarded' lol why do you Redditors talk so confidently about something that is literally not true in any sense. Have you ever taken a uni econ class?
kerodon@reddit
You choose to ignore meaningful discussion to fixate on a meaningless distinction of a choice of words. I guess we're done.
jackshiels@reddit
That’s a hard no lmao
etlucent@reddit
Beezo’s has made consumer goods cheaper and more readily available to the masses. You can literally buy anything you need off Amazon 99% of the time cheaper and have it delivered to your door. This is a great thing that has benefited the poor of this nation and provides everyone else a means to stretch their dollar. Now the bad part of that is it has destroyed most local economies, brick and mortars, mom and pops, and put people out of jobs that manufactured these items and worked in these stores. It has polluted our world with cutting down trees for cardboard and an over flow of unwanted clothing items that we literally ship overseas to Africa because we have no room to dispose of it all. The pollution caused by ships, planes, making cardboard and delivery trucks is what is literally making all of us worse off than if we confiscated his 206 billion net worth and dispersed it equally to all 350million US citizens which would equal to around $588 dollars each. His real crime though is what he’s done to Tolkien’s works.
Res_Novae17@reddit
It's not fair to just look at the pollution created by Amazon as a gross cost to the environment. We should also consider the pollution Amazon is displacing. It is much better for one delivery van to drive around a neighborhood dropping packages off at 50 houses than for 50 people to all drive to Walmart and Home Depot.
NotLunaris@reddit
While I see your point, I have to say that giving each and every US citizen $588 would decrease their purchasing power by a lot more than that
Res_Novae17@reddit
His business has dramatically improved the quality and convenience of life for the vast majority of humans on this planet. It's not even just through ordering from Amazon. I put up a backsplash last month. The fact that Amazon could drop off a bag of mortar, a box of tiles, a tub of grout, a trowel, a floater, and a tube of silicon at my front door the next day is what forced Home Depot and Walmart to start offering delivery. Does anyone else remember when we had to drive around all day buying shit in person in order to get anything done?
Yeah, he got rich. Good for him. That doesn't hurt me.
Captain_Sacktap@reddit
I mean is that completely true? What about people who have earned their wealth in a single generation through their own talents? Like her politics aside, did JK Rowling act unethically to earn the $1B that she’s made off of writing the Harry Potter franchise?
Iwubinvesting@reddit
You realize the government makes over 4 trillions of dollars through taxes? They spend around 6 trillion occurring debt and through money printing. The reason you have poverty is because
Poor people are dumb at financial education.
Poor people don't get the proper education opportunity.
Broken families.
Drugs and mental illness.
Stupid life choices. Going into art or feminist studies instead of money generating jobs.
It's not that hard to NOT be in poverty, most people in poverty aren't the most well adjusted people. And taxing 100% of Bezos will give you 3% of what the government spend yearly... Only once and will remove all investments out of the country.
Wealth tax has shown never to work and actually drives investments and wealth away from a country.
Higher progressive taxes work. Taxes should be increased for funding government projects but not due to spite "OMG BEZOS MAKES X AMOUNT!" isn't logic driven, it's just spite monkey brain driven because you lack understanding of economics and want to blame couple dudes in the top.
TranceDream@reddit
Pretty sure Notch just sold his game and became a billionaire
unfitfuzzball@reddit
Jeff Bezos didn't do anything wrong - We all gave him the money by using amazon (which rocks) and prime video and such things. We voluntarily gave him the money and now some people want it back.
SorosBuxlaundromat@reddit
Even if there was an ethical way to earn a billion dollars (let alone 206.6B) the very fact that we allow that level of wealth to be locked up with one person in our system is criminal. Money needs to flow through our economy to generate human prosperity, when it lands in a billionaire's bank account it's essentially just sitting in a blood clot.
Accommodate-pear3694@reddit
That money is not sitting in some bank. Most of it are assests that make up his wealth, that have to be liquidated to make cash.
SorosBuxlaundromat@reddit
So, illiquid assets? Assets not circulating through the economy? Literally my whole fucking point.
textualcanon@reddit
Money invested in the stock market is circulating in the economy. It funds businesses.
I think billionaires should be taxed way more, but it’s not like he’s just stuffing it under his mattress.
rayschoon@reddit
Buying stock on the secondary market doesn’t fund businesses. That only happens when companies choose to issue treasury stock, which isn’t that common of an occurrence. Even if billionaires invest in stock, they aren’t doing much to stimulate the economy
Metzger90@reddit
The value of shares they own are actually flowing through the economy…
OrLiveaLie@reddit
God, you are dumb... and yet so confident. Stop talking and start listening for a few years.
rancidfart86@reddit
God forbid people own shit
SorosBuxlaundromat@reddit
You're kidding right?
spookedghostboi@reddit
We're so doomed, bro. Look at all of the similar comments.
SorosBuxlaundromat@reddit
"No, you don't get it, I too will have 200 Billion dollars someday if I work hard enough, please don't advocate against my future interests. Anyway, back to my job at the depression factory."
rancidfart86@reddit
Nice strawman bucko
I’m just saying that people have the right to pwn property if it is properly taxed, no matter how much
Better-Citron2281@reddit
"No you don't get it, man having lots of money is bad, because i deserve the money. Why? Because i do, don't question it!"
Accommodate-pear3694@reddit
Liquid asserts are the money in hand. Assest like stock and bonds still circulate in the economy, investments made in a company pays the employees and company expenses that you can't just pull out. Ex- bezos invests 1b in a company, now he still is worth 1b but he can't just pull it out from there, or he purchases stock worth 1b and then its value increases to 1.5b, he is worth 1.5b but that doesn't mean he can just pull out 1.5b out of pockets.
SorosBuxlaundromat@reddit
If we have the political will to do a wealth cap, we can figure out some facility that allows for his wealth to be redistributed without hurting the productive sectors of Amazon.
But also, that's not how equity in a publicly traded corporation works
Scorcher241@reddit
Your point is that illiquid assets shouldn't exist? Or that they shouldn't be owned? I don't think bezos should hoard all his wealth in a giant pit of gold coins that he occasionally swims in either so we can at least agree there, fortunately thats not happening so no reason to be upset :)
SorosBuxlaundromat@reddit
I'd support a wealth/income cap. No one should personally control that much resources, we got rid of kings and I don't remember having an election to decide that Bezos gets to have that kind of influence on the world.
Scorcher241@reddit
Entirely separate point
SorosBuxlaundromat@reddit
How? The man controls too much wealth.
Scorcher241@reddit
You don't seem to understand how this wealth is characterized, it's not billions sitting in his checking account and its not giant money pits, try to understand how wealth works before putting yourself in charge of it
SorosBuxlaundromat@reddit
I'm well aware, it's sitting in a speculative asset being unproductive.
Scorcher241@reddit
Holy shit if you have a way to make bezos's wealth even more productive we should go tell him right now and we can split the finders fee lol. But your gonna say some stupid shit like bezos should sell all of his amazon stock and spend the money on fixing world hunger, but now the guy bought it owns a speculative asset just sitting there being unproductive 😱
SorosBuxlaundromat@reddit
No, I don't want him spending it on fixing world hunger, I want it circulating in the economy, so we can use it collectively and democratically to decide where we spend it. I don't want any 1 man having that kind of power.
He did a very good job getting rich, he can keep 2 mansions and a yacht.
Scorcher241@reddit
Your right i have a proposal of how we can implement this
SorosBuxlaundromat@reddit
I genuinely don't know how to respond to this.
But yeah IASIP is a good show
Scorcher241@reddit
Respond by watching sunny and having a good time and overall chillaxing
SorosBuxlaundromat@reddit
Sounds good
LuciusCypher@reddit
The problem with Bezos wealth is capitalism. He's worth billions because people want whatever he has, and it's not socially acceptable to just stab him and take it for myself. So instead he's worth as much as people are willing to pay him for, which turns out to be a lot. Now people could pay him less, but that means he doesn't have to do as much either, not that he was doing much in the first place. But the less he does, or rather the less he let's other people have from him, the less everyone else can take from him.
Nor is it socially acceptable for a group of people, such as say a government, to go to someone and say "You make enough money, everything you make now goes to us, also you need to keep up production to the same level". Otherwise, people start crying communism or some shit and start worrying they're going to have to stab eachother to keep their wealth.
SorosBuxlaundromat@reddit
Yes I agree
Dr_Valen@reddit
Except that in the case of Bezos that illiquid assets is stock in his company Amazon that is a major employer in the US employing tens of thousands never mind international employees, a major vendor that moves products that are not only theirs but also third party small businesses that they allow to sell on their platform, and a major tax revenue producer thanks to income tax from all their employees, states taxes, property taxes for their many many warehouses, etc. If you liquidated all bezos stock and put the money into idk what you'd collapse Amazon at the same time.
SorosBuxlaundromat@reddit
You're right, I completely forgot that if Bezos is forced to sell his shares he won't be incentivized to personally code the AWS infrastructure or load the boxes in his factory anymore.
Dr_Valen@reddit
Sorry my bad for assuming your more intelligent than average college age socialists.
Think of the stocks he owns like Amazons bank account.
He can't touch that money because Amazon needs it to run.
If Bezos takes all the money Amazon has no money.
Amazon having no money means Amazon can't work.
Amazon no work Amazon no pay employees they all go hungry. Amazon no work Amazon no pay for their warehouses, ships, planes, etc so all the taxes they generate go bye bye. Amazon no work everyone who has Amazon sell their stuff online no have online store no more so they go bye bye too.
So bezos can't take all the money in the bank account because that would be bad would hurt economy.
If that explanation doesn't work for you I suggest buying an economy for dummies or stock for dummies book. Have a good night kiddo.
SorosBuxlaundromat@reddit
Do you think that when you sell a stock the company gives you the money for the sale?
I'm not suggesting that Bezos be forced to drop 200B in Amazon stock on the open market (although barring some equity backed loans, tanking the stock price wouldn't affect the actual productive part of the business which actually employees people and produces things.)
If the political will existed to bring a multi billionaire down to earth, the facility by which their assets would be redistributed could be figured out.
Just because you're trying to explain something in a patronizing way doesn't make your analogy any less shit. Amazon does not use Bezo's stocks to run, that's an absolutely asinine way to describe what equity in a public company is.
SpookyHonky@reddit
Most of his net worth comes from his investments, not money in his bank account.
rayschoon@reddit
We all know that, but buying stock on the secondary market doesn’t really provide much utility to the financial market. The problem is that wealthy people don’t spend even a fraction of their net worth, it just sits in a pile and gets bigger. That’s why tax cuts for the wealthy fundamentally don’t work, they aren’t spending their money. Tax cuts to the poor do a great job stimulating the economy, because they’ll actually go and spend the money on things
The_Demolition_Man@reddit
When you're a billionaire its just semantics. He can instantly get cash loans for virtually any amount using his assets as collateral. When a billionaires's net worth goes up by 100 million in an hour that may as well be cash in the bank- cash that's not going to the people who actually produced it
Escenze@reddit
Damn you're so fucking dumb. A loan would make the money flow even more than having it in the bank as he would pay interest to the bank if anything of the bullshit you're saying had any roots in reality.
kdhd4_@reddit
The argument isn't that billionaires don't own their money, it's countering the statement that a billionaire's money doesn't flow and is stagnant.
spookedghostboi@reddit
It's largely the same. Businesses buy up property, charge more for the property. As long as they hold the property, it isnt money, but it is still value.
cheater00@reddit
Well said!
Escenze@reddit
It doesnt end up in a billionaire's bank account you ignorant moron. It gets invested into businesses so money flows through the economy. Bezos isnt that rich because he has a shitload of cash, he's that rich because he owns a lot of stock. You're an idiot if you dont understand that.
HankMS@reddit
Jesus fucking Christ the financial illiteracy is insane on reddit. Holy fuck. People are beyond stupid.
Isphus@reddit
Quite the opposite actually. Poor people have money. Rich people have assets.
Put 1000 bucks in a rich man's hands and he'll have it invested by the end of the day. Put it in a poor person's hands and they'll hide it in the mattress. There's a reason 20% of the world's printed US dollars are in Argentina.
Poor people with their limited access and knowledge of investments and applications are the ones that leave money idling by for a rainy day. The rich always invest.
This is also why inflation hits almost exclusively the poor. If i have 1% of a company that makes 100 cars a year, my income from that is 1 car a year. Doesn't matter if inflation makes everything cost double, because then the car will cost double as well.
SorosBuxlaundromat@reddit
https://youtu.be/LirsLXXMJiM?si=Cz3LcwGgAwjXMVtQ
Here's the inspiration for Gordon gekko explaining velocity of money while backing Sanders in 2016
rancidfart86@reddit
A lot of that money is in assets
PhilliamPlantington@reddit
Having billions of dollars in assets is borderline impossible. It's likely in stocks but that isn't different than holding assets in cash value other than for tax reasons.
svend_joergen@reddit
Stocks are assets
SnooWalruses3948@reddit
This is possibly one of the dumbest fucking things I've ever read. It is literally impossible to hoard that level of wealth.
You have no idea how economics or basic finance works. Take some time and look into fractional reserve banking then take some time to learn what an asset is and how they function.
angry_snek@reddit
Commie
DarkNinjaReddit@reddit
there’s no ethical way to live in modern society at all at this point
MrLamorso@reddit
Well that's... not true.
MoonSnake8@reddit
I can’t believe people actually fall for this lie.
You’re not even being sarcastic you actually fully believe what you’re saying don’t you?
L0RD_VALMAR@reddit
Literal employment and local infrastructure development.
InDaZoo@reddit
this is your brain on reddit
Responsible_Jury_415@reddit
Benzos isn’t the sole one holding the diamond ring over the baby crip though, a wealth like him is collectively agreed upon by his workers and hr. When you work at Amazon warehouse for 15 dollars you’re agreeing your labor is worth that because HR agrees you’re worth that. Your local store owner isn’t a millionaire because he pays what he can to get the help he does based on the value of his business. The long and short of it is manual labor jobs are gone in 30 years so why waste 26 of those working for peanuts?
saudiaramcoshill@reddit
They're not hoarding wealth. It is invested in the economy. Owning a business, or part of a business, contributes to the economy.
Innovation is the reason people like him are billionaires. Innovation causes the opposite of poverty, and is why the US is the richest nation on earth.
Absolutely not true. And don't give me the reddit bullshit of paying people a wage they agree to being exploitation. If I agree to trade my time for $100/hr and then you are able to make $200/hr from my time, that's not exploitation.
JK Rowling? Stephen Spielberg? Those are the easiest examples, but I could pretty easily make an argument for many billionaires, who simply are business owners at large scale. Owning a business is not inherently unethical.
Some billionaires are absolutely unethical in how they became billionaires. That doesn't mean all billionaires are unethical.
MagicLion@reddit
Billionaire are a product of globalisation in a world with 7billion people. You as well as billions of other people have used the products and services Jeff Bezos has brought to the market (taking financial risk in doing so) same with many other such people there is no exploitation in what he is doing you are free you buy products somewhere else and his employees are free to work somewhere else
kerodon@reddit
Did you unironically say Amazon doesn't do anything exploitative??? You just choose to ignore the low wages they pay their employees, abusive working conditions, anti-union practices, ecological impacts and environmental damage, crushing any competing smaller businesses and buying them out at extremely low prices to force them out of the market. You just live in fantasy land where they're r a perfect saint???
MagicLion@reddit
You don’t like him I get it. But there is nothing unethical about offering a product or service billions people freely choose to use. And yes no one is forced to work there. I don’t think he is a saint I think he is a businessman running a competitive business.
kerodon@reddit
I don't care about him as a person, I dislike this concept of business practices that have to be ruthless and succeed at the expense of the people and the environment around them.
YokelFelonKing@reddit
Everyone states this like it's gospel yet I've yet to see them back up this assertation with anything other than "it's obvious, just think about it, sweaty \~uwu\~"
CptAmazing7@reddit
People like Bezos hold it so people can’t exploit him and he can outcompete. He sees his business ventures as a way of solving some problems that governments can’t. E.g. revolutionising logistics.
Sometimes billionaires will spend a few years setting aside a pot of a few billion and launch a new initiative, upscaling it rapidly. This has been happening recently with the current wave of ChatGPT replicas. All of them are either startups getting Angel investment, or big tech companies like Google or Musk’s xAI dumping a few billion into their next venture to circumvent the inefficiencies of grassroot organisations.
naked_short@reddit
The level of stupidity on this thread is truly something to behold.
SnooPredictions3028@reddit
If there is no ethical way to become a billionaire, then you simply are arguing that in the pursuit of success everyone should abandon ethics.
kerodon@reddit
Success and excess are very different things.
gangrenous_bigot@reddit
Lol to the same tune there’s no ethical way to be poor too - always living on some handout and aid money taken from someone who made their money on their own etc etc yadda yadda
kerodon@reddit
If only there was some way for companies to pay people fairly and not abuse labor, underpay their employees, try to break up unions, have unfair working conditions, or be forced to fight with companies outsourcing their labor so they can't even get jobs in the first place which isn't viable in a work-to-survive society. The problem isn't that people choose to be poor...
gangrenous_bigot@reddit
If only there wasn’t some way to get a better job or education and not abuse the market with your low skill whinging even when you potentially may be overpaid in the first place for trying to gang up on your employer to force them to not choose cheaper labor for cheaper product hence leaving you more money (you forgot the next part), then perhaps it wouldn’t indeed be one’s fault they’re poor to the exact same tune. Make this ethical company yourself or find one that works as an example, I’ll wait.
kerodon@reddit
How are people supposed to fight for these theoretically better pays and working conditions when they're struggling to survive now and companies don't pay them enough to have security to afford schooling or time to seek new opportunities and they break apart unions who fight for those things????
An ethical company structure isn't impossible it just doesn't make as much money for people at the top so why would the people in power choose that?
But worker owned businesses are a thing. Businesses that pay livable lowest wages and have salary maximums exist in relation to the lowest paid wages in the companies also exist. When you aren't paying CEOs 2.7million per year and distribute pay fairly accross your company then it's easy to pay your workers a livanle wage.
Escenze@reddit
No its not. I wish we could try taking all their wealth and you'd see we would still have poverty. In fact we would have a lot more poverty.
CraftyInvestigator25@reddit
Larry Page.
But 99 % of people having 10 bn$+ are unethical
ShopperOfBuckets@reddit
JK Rowling?
tonnuminat@reddit
Most of his wealth is theoretical in that it's bound in the amazon stocks he owns. The money is not taken from the economy until he sells off his stock, so it's not "hoarded".
HankMS@reddit
No people who don't understand how wealth works are the problem. You are fucking small minded and really believe that he has the cash on his account. His "wealth" comes from the fact that he owns multiple very huge and successful businesses.
Ice_Swallow4u@reddit
Kinda like how the West hoards all the wealth and exploits the poor countries for their natural resources. May it forever be so.
kerodon@reddit
Exactly that
Ice_Swallow4u@reddit
Fuckin a
throwtheclownaway20@reddit
For real. They throw in just enough to kill the issue on social media and go right back to hoarding
Nixter295@reddit
But people like him aren’t why you have poverty. There is absolutely nothing that says if they didn’t exist the money would be spread out or “evened out”
Even if it did there is economic evidence to suggest that poverty can never disappear.
AverageDude@reddit
People like him are buying the media and the politics so the money don't get spread out. You don't even have a true leftist party in the US. You're getting cucked to a point beyond measurements.
kerodon@reddit
Yea I guess we will just ignore Amazon's exploitative working conditions, low pay, insanely high employee turnover, the lawsuits against their working conditions, anti-union actions, their predatory buyouts of smaller companies under abusive conditions, etc.
Nixter295@reddit
The point is that Amazon isn’t responsible for everyone else being poor. Yes they have shitty practice but that doesn’t mean they are responsible for the rest of the world.
kerodon@reddit
Amazon and other megacorporations like them are explicitly problematic and cause an increase in poverty while simultaneously lowering the quality of life of the people living in poverty. They destroy local economies and make it impossible to compete. They have terrible working conditions, terrible wages, and force a lot of their employees to survive on social systems (which are themselves good but should not be a means for companies to underpay their employees like Amazon and Walmart so).
Nixter295@reddit
But that is more systematic failures. It never solely relies on the company when the problems is also in the people allowing this.
kerodon@reddit
Both can be true at the same time. I agree it is not exclusive their fault. The system allowed them to exist and operate the way they do. But also the wealthy hold the power and lobby for their own interests and benefit so that is part of the issue. These companies are the ones who buy politicians so they can keep operating the way they do without obstacles or minimal if any interference.
m0ppen@reddit
Woah woah there buddy. You start to sound like a filthy communist
pog_in_baby@reddit
Counter point: Wilhelmina of the Netherlands
yearulj@reddit
I’ve made multiple billions of dollars without doing a single thing actually
Key_Catch7249@reddit
How so?
Xc0liber@reddit
No ethical way.....
PhitPhil@reddit
Jeff makes 88k a year as a salary, and his bonuses get him to 1.5 million a year. Bezos' net worth is entirely in stock in unrealized gains that track entirely onto the performance of his company. Reich know this, but he also knows you stupid fucks are barely smart enough to sometimes know your left from your right, so it's really easy to trick you into believing a man makes 9 figures in half a day
Scorcher241@reddit
I agree its phrased incorrectly, but His income is completely irrelevant lol, he could pay himself 40k a year and still live in absurd luxury. I think it's completely fair to say that bezos has access to tens of millions (or whatever the amount is) more at the end of the day than he did at the beginning of the day. Just because it's mostly in asset appreciation doesn't mean he can't spend it (or borrow against it)
Tunaktunaktun159@reddit
still far from the initial 110 million in 11 hours figure, which I believe was his point
hein-e@reddit
Missing the point here
Is just an expression and could still be 200 million for all we know. And even 10 million a day is a preposterous amount of money a day
Tunaktunaktun159@reddit
that's still an assumption
Time_Revenue_5505@reddit
remember to wipe your mouth off when youre done
Tunaktunaktun159@reddit
this how you know everyone on Reddit broke asf, I'm getting called a glizzy gobbler for not being all negative and shi about Jeff bezos donating to charity
Time_Revenue_5505@reddit
guy on reddit sucking off a billionaire and calling people on reddit broke, is this a fetish?
Blackgizmo@reddit
Reddit is cooked and always will be
mike20865@reddit
No he doesn't lmao. The way most people this rich get liquid money is by taking loans out with part of their equity as collateral. Sure, he could go take out another loan to get more money, but it's not as if he has a bank account that just gets deposits based on the stock growth of Amazon.
Scorcher241@reddit
I love redditors will explain what you said back to you only and still sound smug
mike20865@reddit
Redditors read a comment and do not comprehend it while being entirely sure their own point is infallible
hein-e@reddit
So what you are saying that he can use his company stock to have access to millions a day and his salary and bonusses don’t really matter? Exactly what the comment you commented on said?
mike20865@reddit
"Has access to" and "can get" are entirely different things. Having access implies that money is there ready to go every day, which like I said is not how it works.
Srlojohn@reddit
You do realize that’s only 13k above the poverty line right? My family is decidedly middle class and we make more than that.
hein-e@reddit
Did you miss the part where he said Bezos still has access to millions more every day. His salary is just a number and has no real meaning.
memeboarder@reddit
You’re making too much sense fir the regard who initially commented
Xalterai@reddit
You're wrong about how much spending money he has yearly. Sure he only "officially" makes 1.5m a year(which is already exorbitant for how little he does compared to the people he exploits)
BUT, the Uber-Rich have a fun little thing called Tax-Free Loans. They basically partner with a checking union or hedge fund, take out massive loans against their infinite net worth, and because they have so much value, they have basically no interest over a long term. As such, they now get hundreds of millions in spending money with 0 taxes on it, get to claim they are in debt at the end of the year to evade more taxes, all while gaining more and more wealth by exploiting those beneath them and lobbying politicians to make it even easier.
emanuelitto@reddit
Are you really that naive?
Yabboi_2@reddit
If tomorrow he sells 0,01% of his stocks, he can buy your house with your family in it and not be affected. Do you seriously believe he only uses the money from his salary?
123Littycommittee@reddit
You can't sell massive amounts of stocks from a company without hurting that company, you have no idea what you're talking about
Yabboi_2@reddit
Nice straw man buddy, have you considered reading my comment before replying?
Kamikaze_koshka@reddit
I agree with you. But that's not a strawman.
Yabboi_2@reddit
It is, he made up a fake argument to argue with, even though it wasn't mine
knife_juggler-@reddit
you're assuming he can read
Memmew@reddit
smell my nuts
inspectoroverthemine@reddit
Ignoring for a second that he sold 3% of his net worth equivalent in Amazon stock recently- so you're straight up wrong- he doesn't actually need to sell anything to tap 0.01% of his net worth as cash. Banks will give a near 0% loan based on his 100B in assets.
DuckyBertDuck@reddit
Bezos recently sold Amazon shares worth around $5 bln..
FlyPepper@reddit
0.01
MonkeManWPG@reddit
If he actually only got 88k a year, he wouldn't be able to own a superyacht. It doesn't matter what his salary is on paper when he clearly has access to more.
But yeah, we're the stupid ones for not thinking he makes 88k.
Extreme-Kitchen1637@reddit
That because people can get loans using unrealized assets for liability. Upon death the estate will sort out the debts. Until then it's a legal method to avoid capital gains tax when cashing in on the value of stocks and bonds.
inspectoroverthemine@reddit
Which is the loophole that Reich (and non-simps) want to close.
Extreme-Kitchen1637@reddit
I'll be honest the only policy i've heard against this method is taxing unrealized gains on cumulative assets over $1million by harris. Which of course will be both a regressive tax and cause a massive collapse of the markets. Not to mention the wealthy will then just book it to malta or ireland and buy citizenship to avoid taxes.
inspectoroverthemine@reddit
The reason to avoid regressive taxes is to avoid income/purchasing inequality. All tax code has a top tier, so you could argue that even income tax is regressive to people making more than 250k/year. A cap on unrealized gains over 100M (not 1M) isn't going to make a difference to that individual other than buying a smaller yacht.
'Wealth' is moving out of the markets is a net positive. Its only there because crazy low capital gains tax and stock buybacks. Both of those things are a net negative to everyone but the top percent.
They'd have to renounce US citizenship, and pay exit taxes on unrealized capital gains. If they want to do that, I'll buy them a coach ticket to the shit hole of their choice with lower taxes.
Nitr0Sage@reddit
Real, everyone here never took economics or something
rlyfunny@reddit
When he can use the same stock to get personal loans and actually use that money he does actually have it. See musk and twitter
Oxi_Dat_Ion@reddit
When did the sub become a left wing cesspit of poor jealous losers?
Worst-Panda@reddit
Once it became obvious that right wing simping for billionaires was pathetic and impotent
llIlIIllIlllIIIlIIll@reddit
Not being a complete moron = “simping” for billionaires lmao
Xalterai@reddit
Do you get the left nut or the right nut when you open your mouth?
llIlIIllIlllIIIlIIll@reddit
Both
The_Shittiest_Meme@reddit
Its crazy how a party can be so desperate to portray themselves are rebellious martyrs fighting for liberty and freedom and at the same time so heavily suck the cock of authority and capital so long as they do or say some petty words about God, Gays, and Immigrants.
emanuelitto@reddit
Dickriding billionaires won’t make you richer fool
llIlIIllIlllIIIlIIll@reddit
Reddit has literally always been this way
coolhooves420@reddit
Dude this isn't even about left wing or right wing. We just don't want money being channelled onto the lap of someone who doesnt need it while everyone else is struggling.
LazerFrazer@reddit
why are you sucking up to soulless demons?
MonkeManWPG@reddit
When did you become a right-wing bootlicker?
Sushi-DM@reddit
If somebody with 40 million dollars gives you 1 thousand dollars it lpoks different than somebody with 2000 dollars giving you 1000 dollars.
Irontriceratop@reddit
Yet the net benefit from the charity is the same
eip2yoxu@reddit
It would be bigger if the millionaire would give you also half his money
Strypes4686@reddit
Cool,so will you give half of YOUR money?
Don't get me wrong,The wealthy really should be giving more than they do but it is so damn easy to spend money that isn't yours....
coombuyah26@reddit
If I gave away half my money, I would not be able to survive til the end of the year. If Jeff Bezos gave away half his money, he would still be among the richest people on the planet, and would still have more money than I could ever amass in a dozen lifetimes.
Raider5151@reddit
Jeff Bezos could give away 99% of his money and it still wouldn't materially affect his life. He would still be worth over $2,000,000,000
llIlIIllIlllIIIlIIll@reddit
Who’s he supposed to give it to? His “money” is likely tied up in assets such as, oh idk… Amazon for starters.
It’s literally impossible
Raider5151@reddit
Oh idk sell his fucking stock like he does all the fucking time when he wants money for starters...
llIlIIllIlllIIIlIIll@reddit
Sell 99% of it?? Are you literally retarded?
projectsukyomi@reddit
Noo daddy bezos is really poor like us all his money is in stock he cant sell without crashing amazon
TheLastWaterOfTerra@reddit
Are we talking real money or net worth?
llIlIIllIlllIIIlIIll@reddit
We’re talking reddit logic, where anything goes as long as it sounds nice
coombuyah26@reddit
It makes no difference.
TheLastWaterOfTerra@reddit
It really does though
coombuyah26@reddit
Bezos has an estimated $11 billion in cash on hand. Everything I said remains true.
Club_Penguin_Legend_@reddit
And by on hand, you mean invested and not actually sitting in his bank account, right?
Destroyer2118@reddit
You think Bezos has $11,000,000,000 cash on hand and proudly proclaim everything you say to be true.
Even by 4chan standards, you’re a fkn moron.
mysixthredditaccount@reddit
I think they meant liquid or almost liquid assets. Which is often called cash (but it's not literal cash, just quickly convertible to cash.)
Destroyer2118@reddit
You:
🙈
ZateoManone@reddit
Damn... That was such a dumb statement
llIlIIllIlllIIIlIIll@reddit
He already did give away half his money, he got divorced
PMMeYourBootyPics@reddit
And it would run the federal government for less than 2 weeks. Now we saved every American there taxes on one paycheck. Most people probably wouldn’t even save more than a few hundred dollars this way.
Government needs to spend on the right things, otherwise we’re just stealing from the rich to build more useless shit for the military industrial complex.
Chaotic_Narwhal@reddit
So you literally would be able to survive if you gave half your wealth away since you are in the top 5%. What a stupid way to ruin your own argument
Edaimantis@reddit
So your entire argument relies on the fact that bezos can survive without half his wealth?
What’s the limit to that? A healthy man can survive with only one kidney, is it therefore an ethical requirement for them to give up their “spare?”
yawls@reddit
No it doesn't. It relies on the fact that he can live in unimaginable luxury without half his wealth.
Learn to read. Also, stop simping for parasites who wouldn't piss on you if you were on fire.
Edaimantis@reddit
You can make your point without being a massive prick. Well, maybe you can’t. One can. And adults should learn how to do that.
Sure, he can live in unimaginable luxury without half his wealth, does that mean you have claim to the other half, or that he has an obligation to part with it?
That also dodged the point I made about kidneys. I love a person telling others to learn how to read but can’t respond to the single claim made in a comment :)
Ashen-Chef@reddit
Cringe
Edaimantis@reddit
I also reply cringe to comments I can’t adequately respond to, we have a lot in common!
TheBrickster420@reddit
So Amazon should sell off half the company?
Of course they’d still be too big, they should just liquidate everything to subsidize the cost of a mcchicken or something
tulupie@reddit
Make that 20.000 lifetimes. ( If you are earning 10 million per lifetime )
C1nders-Two@reddit
If I had money to give without significantly taking away from myself, I would. Jeff Bezos is set for life and has more money than he could ever realistically hope to spend. He can afford to give more than just one day’s worth of his income.
Look at Mark Zuckerberg. He might not be that much better of a person, in the grand scheme of things, but at least he doesn’t hoard his wealth like a goddamn dragon or some shit.
Sigmatronic@reddit
Sure you would, that's why 99% of people who do make it don't look back.
It's easy being charitable when you don't have to give anything
C1nders-Two@reddit
Cynicism isn’t a terribly fun philosophy to follow, nor is it a good way to judge the morality of people and their actions.
Also yes, I would give money to those in need if I had money to give, because it’s the right thing to do. You shouldn’t judge people’s character if you haven’t the foggiest idea what they’re actually like.
Sigmatronic@reddit
The same way I can't know for sure what you would do if you were suddenly rich, you can't know for sure what you would do. Money and power corrupt
inspectoroverthemine@reddit
Look at Jeff Bezos wife.
Joaonetinhou@reddit
No, I'm not a billionaire, so I can't give away half my money and still have a good life.
What a stupid excuse.
ah_harrow@reddit
If half my money was enough to 50% end world hunger and I'd still be left with more than I could possibly spend in a lifetime then yes, I probably would.
Depends what I'd had to do to come into it, which is half the problem: if these fuckers have done even half the stuff they're frequently accused of I think I could see myself lacking the moral fortitude to kiss goodbye to my money.
The problem is deeper anyway: money = power, and people are far less willing to part with that. Get money out of your politics and increase VAT on luxury spending to start with.
Originalspearjunior@reddit
Its called taxes...
spartanJ402@reddit
Id miss 500k much less if I had 1M than I'd miss 1k if I only had 2k
rlyfunny@reddit
Let’s say it like this, I’m willing to give away all of my money that surpasses, let’s say, ten million. At that point there isn’t extremely much use for it anyway
painfulnumbness@reddit
Who decided the moral number at which to start donating?
rlyfunny@reddit
No one yet, but if one person has enough wealth to outshine a few million households, then it’s probably too much. Heck say one billion is the limit and it’s still to much, even if better than now by far.
FARtherest@reddit
I did, pay up
Th0rizmund@reddit
I did for a couple of months when the parents of one of my classmates got sick and were unable to work. It was great to be able to help them get back on their feet.
Eayauapa@reddit
I work a really shitty job and I give quite a lot to the homeless people who I keep seeing on the way to and from work or just when I'm out and about, probably about 2% of what I earn, realistically.
Jeff bezos donating the same amount would be a donation of 4.13 billion USD. I can't imagine him going around giving that sort of money out any time soon, and what is proportionately pocket change to that man is more money than I could spend in a lifetime if I tried. Like I'm pretty sure you could turn the Isle of Man into one giant, fuck-off ball pit for that sort of money and still have some left, it's an insane amount of money.
I don't mind being called a socialist for thinking that having BILLIONS in the triple digits is ridiculous. Even one billion is an absurd quantity for one person to have, 206.6 billion is so much that it just trivialises the idea of money itself. "Work harder for more money" stops making sense when I would have to work my current job for ten hours a day, 365 days a year, for over four million years to make the same amount.
$2,606,000,000 is a stupid amount of money, and nobody needs or deserves anything in that range.
Electrical-Help5512@reddit
"it is so damn easy to spend money that isn't yours...."
ok, and? doesn't make it the wrong thing to do.
geckochiefocho@reddit
I’d give away about a third of my money… which I and most people do through taxes. Are these guys similarly “giving up” a third of their income? Or is it effectively substantially less because they’re able to game the system the way normal people can’t?
HerolegendIsTaken@reddit
If i had enough yeah. If I ever won the lottery most of that would be given away.
mehemynx@reddit
So, what is your point here? You acknowledge that they have a almost unfathomable amount of money, let alone be able to spend it all. They get that money through exploitation and monopolistic practices. They could donate 70% of their wealth and still have enough money for 5 more generations. It's not the same to ask someone living paycheck to pay check "how come you aren't donating half your income" because it's in no way a comparable situation.
Strypes4686@reddit
My point is that Bezos gave a sum of money and the common response was a complaint he didn't give more. It's super easy to spend other people's money.
I'll bet you the find banks that git the money aren't bitching.
StrongLikeBull3@reddit
Wealth isn’t a linear scale. If Bezos gave away half of his money he would still be fine, i would be fucked.
makomirocket@reddit
That is WHAT TAXES DO. In the UK, everything you earn from a salary after your first 45kish, are taxed at 40%.
Arkhyz@reddit
If I was a millionare, let along a billionare, i would, no one needs that much money, you can buy literally anything with a billion, and would have some left. What's the point of having money you couldn't spend? Give it to ones who needs it. Simple enough, testament as old as a world.
DXTR_13@reddit
if the average pleb gave away 99% of his net worth, they would not be able to buy another meal.
if someone like Bezos gave away 99% of his net worth, he would still be able to afford a villa with bugatti in the garage and butlers in the kitchen.
PM_ME_YOUR_STOMACHS@reddit
I donate 5% of my monthly salary to charity. Do you?
If every billionaire did this the world would be a better place.
BananLarsi@reddit
Half of the regular populations money can’t be given away, as they don’t have the means to survive without half their money.
Half the money of a literal billionaires stash is not noticeable.
senki_elvtars@reddit
The original discussion was about paying taxes not giving half of your money to someone
Puncherfaust1@reddit
i do. i pay tax
billionaires dont pay half their money in tax
Salt-Powered@reddit
I mean, the money is ours because he is actually paying no taxes and receiving subsidies from tax-paying citizens. So yeah, he is robbing you too.
eip2yoxu@reddit
I mean the point of my comment was that people should pay the same relatively not nominally. And even then I am okay with having progressive tax brackets instead of a flat tax.
I am not saying it should be 50%, that's way too much.
True. It sucks we can't hold politicians more accountable when they act irresponsible with tax payer money.
I think that can also be an issue, because it could cause politicians to stop investing because they are afraid of making mistakes, but I think between that and the status quo are a lot of things that can be done
TimeMasterpiece2563@reddit
No, the point of your comment was to make a classic right wing capitalistic argument.
“If a billionaire gives away $500m, it’s the same as a person with $100 giving away $50”
It’s a specious argument made to protect the ultra wealthy from being accountable for their greedy and hurtful behaviour. Nothing else. If you’re ok with carrying that can for them, then at least own it.
demon-storm@reddit
It's not like they use that money for anything, really. Other than buying social medias or showing off who has the biggest number.
Billionaires are extremely childish in that regard, they have zero imagination. They literally don't know how to be rich.
Sushi-DM@reddit
If I had 20 billion dollars, I would give more than 100 million dollars to charity.
PoliticallyIdiotic@reddit
Strong Shoulders need to carry more. Expecting everyone to give half is stupid, because when someone with average income gives half it is a giant impact on their livelihood, while if a billionaire were to give half he wouldnt actually notice any real difference
Munnin41@reddit
You do get that someone who is 200 billion dollars giving away half their money doesn't feel the impact at all right? As opposed to someone who earns 100k a year?
It's really not. I don't have that money, so I can't spend it.
The_Shittiest_Meme@reddit
If I had a billion dollars I would invest 50% of it, donate 40% of it as well as donate any profits from the investment and the rest I'd keep to live a life of luxury till the end of my days. You can get basically whatever you want with a hundred mil. I could buy a giant yacht and that still only be like a 30-40 million over my lifetime. And quite frankly I neither want nor need a yacht. And Jeff Bezos has 200 times that in total assets.
Expert_Swan_7904@reddit
well charity is actually kind of fucked because every dollar donated, something like 30 cents goes towards the actual cause.. the other 70 cents goes towards paying people working there
MrLamorso@reddit
Most impressive redditor math:
eip2yoxu@reddit
Still used a calculator to be extra sure
TurretLimitHenry@reddit
The non profits ceo salary would also get bigger
Irontriceratop@reddit
Yes im just arguing with the above comment in mind
EroticPotato69@reddit
Probably wouldn't need so many charities if there were fewer billionaires hoarding all the wealth. Most charities are a complete sham, anyway.
kdhd4_@reddit
You think people are poor because there's a limited amount of gold coins in the world and Jeff got them all in his piggy bank or something?
Ruby2312@reddit
No? Not because Amazon have monopoly on online shopping and therefore can do whatever tf he can in many sector, especially labour? Fucker help a lot more people implement actual labour protection in his company than few dozens of these fucking “charity” put together
kdhd4_@reddit
Economy is not a pie chart that where if one has more, others must have less. Sure, he could better help people that he employs, but surely wouldn't fix things by itself, especially for people that got nothing to do with his company. Said company that in fact generates wealth through products and services.
Him having more money doesn't prevent other people from also having more. The way he could help is with access to opportunities, but that won't fix a country's education and people's personal financial decisions which are major factors in generating wealth.
Ruby2312@reddit
This is a bait right? I cant tell anymore these days
kdhd4_@reddit
Just downvote me and move on if you don't want to engage with those points. I'm not even disagreeing, I'm just saying that "billionaires hoarding wealth" is a stupid ass statement that doesn't correlate with how economy works in reality.
Ruby2312@reddit
His fucking wealth hoarding is not a problem, it’s how those wealth are amassed. Workers protection been gutted for too long that these vulture have so much too feed on and got fat. I dgaf how much these fuckers have, i want the methods these fuckers used to amassed those wealth gone and capital punishment if those fucker try to continue them
shipsimfan@reddit
Please describe exactly what you would make illegal with punishment of death to prevent billionaires. This should be good
SeventeenChickens@reddit
I can add a few, union busting gets you sent to The Pit (tm). Anti-Union propaganda also gets The Pit (tm). Abusing tax loopholes and funding any news not based in fact, wouldn’t you know it, The Pit (tm). Treating housing as an investment to make returns off of instead of a requirement for living- The Pit (tm).
Please forward all questions or concerns to your local The Pit (tm) committee.
shipsimfan@reddit
So how exactly do you determine what counts as union busting, anti-union propaganda, abusing tax loopholes, which news isn't fact based, etc? Who gets to determine these things if it's subjective?
For example, if I as an average citizen say "I don't like unions", is that union-busting and anti-union propaganda that should have me executed?
You gave very broad and vague ideas, I asked for specific things to made illegal.
SeventeenChickens@reddit
I’ll leave the specifics to the policy wonks whose job it is to figure out the legalese that would have the best outcomes. I’m not a lawyer, sorry to burst your bubble. I just want good things to happen and bad things to not happen, and the people who do bad things to be put away where they can’t keep doing bad things, like The Pit (tm)
shipsimfan@reddit
This is exactly the response I expected. Every leftist leaves the specifics to other people. This is why capitalism continues to go strong, its opponents are idiots.
Stop being a larper and go adopt some real political opinions instead of your virtue signalling bullshit.
Go lookup workplace democracy if you want to actually help improve the world.
SeventeenChickens@reddit
You can get off your high horse. I have a job and I hope you do too. You can’t expect everyone to spend their waking moments becoming a legal expert. Gatekeeping progress behind people knowing the specific legalese is ridiculous and you know it. This “More Leftist than Thou” attitude is why the Left is a political laughingstock.
shipsimfan@reddit
I'm not on a high horse, I just don't have my head in my ass. I have a job too, and yet, somehow, I have specific answers. I'm not gatekeeping progress, you're holding it back by being ignorant.
The left is a political laughing stock because it is filled with idiots like you, people who have no idea what they're talking about but just want to feel good.
Also, if you don't know the difference between legalese and being specific, I hope you never do any sort of engineering or anything safety critical.
SeventeenChickens@reddit
We were talking about policy prescriptions. You wanted to get into the weeds about it. I don’t care about debating the specifics on Reddit, because that’s a waste of time. I’m not a legislator. If you want to debate the specifics of policy, go run for office.
What’s important is the big picture, don’t miss the forest for the trees. If Joe Schmoe wants the same things as you but doesn’t know “exactly” which policies get there, you can either complain that not everyone is as smart as you and start debating him on communist metaphysics or you can get back in the picket line. The lefty infighting meme isn’t something to aspire to.
__El_Presidente__@reddit
Then why the richest 1% owns almost half of the worlds' wealth and that percentage keeps growing?
When you pay for something you transfer your wealth to someone else; what do you think happens after years of inflation and stagnating wages? This wealth gets transfered into the hands of billionaires who, surprise, hoard that wealth and keep acumulating more.
kdhd4_@reddit
Because having more money creates additional methods of earning more.
Them having money doesn't prevent you from earning money. There isn't a limited amount of money in the world. You can generate wealth.
__El_Presidente__@reddit
And this money comes out of thin air?
Them having more money allows them to own all the money making machines and leave you only able to sell your labor to them for money. That's why rent and house prices are always increasing, because rich people buy all the available land to rent it or sell it later at an inflated price, leaving you unable to buy a home. And that's why real wages have been stagnant since the 70's while production (and CEO pay) has grown by more than 300% and inflation has never stopped growing: because the rich literally siphon all the money they can find out of your pockets and into their bank accounts.
They may do it through increasing costs to the consumer, adding taxes on their economic activity onto the final price; they may do it through subpar housing; they may do it through exploiting you directly, enriching themselves off of your work and paying you pennies on the dollar, or directly stealing from your wage (which is a bigger portion of all the money stolen yearly in the US than robbery and breaking and entering combined); they may do it through massive state subsidies. But they are always stealing from you.
brainburger@reddit
When the rich take a bigger slice of the pie, the whole pie needs to grow to keep the ordinary and poor slices the same.
It's OK if the pie grows faster. However it's better for everyone if the pie grows and the proportions don't change to move more of that gain to the rich. Likewise if the pie stays the same or shrinks, more people benefit if the rich slice shrinks.
It does not seem to be the case that the rich slice growing forces the whole pie to grow.
ShlokHoms@reddit
If they were propperly taxed and the money would be used by the state for the people and not to subsidize the ultra rich there would be no use for many charities.
Grintock@reddit
This is the point, written very succinctly, that seems to go over many people's heads when you mention that there are no good billionaires.
Sushi-DM@reddit
You also cannot get 1 billion dollars without being a complete psychopath, so there is also that.
spart4n0fh4des@reddit
Except if the millionaire got their money by exploiting your work which was worth 200k, by instead paying you 75k, then made a big deal about giving you 2k, then you’re still getting fucked
ApologizingCanadian@reddit
Imagine if the billionaire was taxed fairly on his excess wealth, and instead of having to rely on charity, social programs were well funded and robust. What a wild world that would be. Eat the rich.
Sharker167@reddit
The charity wouldn't be as necessary if the people it was serving earned a living wage
catinterpreter@reddit
If the equivalent number of everyday people who, when their wealth was combined to equal that of one rich person, were to donate the same proportion of their wealth, we'd call them all tightarses.
The benefit is not the same. It's a proportion of wealth in circulation. And a tiny, selfish one to elicit easy points with simpletons like you.
smiledozer@reddit
Except the guy with the 40 mil is the reason the charity needs to exist in the first place
PM_ME_BAD_ALGORITHMS@reddit
If he paid his taxes like the rest of us it wouldn't look the same. You can't just avoid paying 1000 million on taxes, give 100 million to charity and then expect a thank you.
derp0815@reddit
Isn't Jeff Bezoops that rich because people working for him need charity to live?
littleski5@reddit
It's really not, society is negatively effected by Jeff bezos' whims far more than it is positively effected by his tax deductible donations that he gets marketable PR from
TimeMasterpiece2563@reddit
No, it’s not.
feckshite@reddit
But it’s about equitable contributions not equal
JustaBearEnthusiast@reddit
Naw because you forgetting the part where the rest of us have 40 mil left to give to charity because some asshole hoarder. Money = power and power is in fact a zero sum game.
BitShin@reddit
So Bezos’s donation in the post is 11 hours of work (if their math is correct). The median US salary is $59k which works out to $29.69/hr. At 11 hours, that would work out to $326.61.
If you donate $326.61 (or less depending on whatever 11 hours at your job works out to be) to a charity of your choice and post proof, then I will match your donation. If you don’t, then you should really think about why you feel 11 hours is too much for you but too little for someone else.
_phish_@reddit
The difference is that 326.61 can make or break someone’s budget at 59k a year. A single parent of 2 is struggling to make that work in most places.
By contrast Jeff Bezos has all his (basic) expenses fully paid for the next… I don’t know 3 decades?with his “11 hours of work”.
People retire on way less than 100 million and live the rest of their lives in comparable luxury. People do not retire on 326.61. This is the glaringly obvious fact you’ve missed.
Flat tax rates disproportionately benefit the rich because less of their income is taken up by needs.
And no I don’t care that it’s “his money” that he “worked for”. People are dying of fully preventable causes (see the Green brother’s fight against Tuberculosis) and Jeff is sitting on an unspendable pile of money. That is blatantly immoral, WAY more immoral than “stealing” his money if you want to frame it that way.
The average person can’t afford to help, the 1% can, and don’t because they don’t have to. Instead they donate what amounts to pennies to them to get tax write offs and a public perception boost and go on continuing to hoard money.
It’s funny because everyone seems to agree the morally just characters in Robin Hood, Aladdin, and Les Miserables are the ones stealing food to survive, but as soon as it’s about saving real people’s lives it suddenly flips…
StrawberryWide3983@reddit
$326 is enough for the average person to pay a major bill
For someone like Bezos, $100,000,000 will have absolutely zero impact to his lifestyle
Kilo353511@reddit
I think the difference is my 11 hours of pay covers my food for an entire month. If Jeff Bezos gave away 11 hours of pay, absolutely nothing about his life changes. His 1 hour of his pay is more money than I will ever have in my entire life.
If Jeff Bezos paid his employees better and paid his fair share of taxes it would have a greater net benefit than his 100 million donation, and have zero changes to his life.
inspectoroverthemine@reddit
Do I need to explain why flat 'taxes' are in fact regressive?
You-Looked@reddit
The problem is that Jeff Bezos still has like 200 billion dollars to live with. While 100 million is nice, don’t let it distract from the point that 100 mill is .05% of his net worth. Hey at least it’s probably more than he pays taxes lol
ArminTheLibertarian@reddit
I gave you a hit of my elfbar, but you went to hit his elfbar instead, what you didnt know was mine was almost empty and his was full 🥶🚬
ChochRS@reddit
It's still a 1000 dollars regardless of person's networth, you can spend it exactly the same
rlyfunny@reddit
If your view of the 1000$ only depends on how you can spend it, then that is true. But if you care where it came from, then your comment loses all sense
NoShit_94@reddit
The effect is still the same.
Woolf01@reddit
Not when it’s a relatively cheap excuse to take heat off of not paying taxes lmao.
Bazingani@reddit
Not when it comes to taxation, no.
exor688@reddit
Why did this get deleted by the mods?
thegraybusch@reddit
"Man who beats women every day spends one afternoon helping women bandage their injuries"
That guy: why aren't they grateful??
maafinh3h3@reddit
His math are wayy off, maybe this Reich guy think net worth=income. Bruh just because my parent homes are now worth $100k doesn't mean my family have $100k as yearly income and think that $ 500 are cheap. Their income are just retirement and 500 are double their retirement monthly salary (i live in small income country).
captainfalconxiiii@reddit
This “Reich guy” was a Secretary Of Labor he’s not some random guy off the street
Xalterai@reddit
And for any fans of Dropout(formerly Collegehumor) and their various series(Dimension20, Gamechanger, etc.), is the father of Sam Reich
inspectoroverthemine@reddit
Hes an accomplished attorney, economist, and former secretary of labor. He knows exactly what hes saying, hes making an analogy since 99% of the country can't relate to having 100B in 'unrealized asset'. Its not apples to apples, but it doesn't make a material difference to the point.
maafinh3h3@reddit
His title doesn't matter because the post is still misleading. Neil DeGrace Tyson repeatedly tweeting wrong facts even in physics, doesn't mean I can't tell him his posts are wrong.
inspectoroverthemine@reddit
NDT is straight up wrong quite a bit. Reich is oversimplifying, because it literally doesn't matter to his point.
I mean technically Bezos doesn't 'make' anything in 11 hours anymore. Hes retired and doesn't draw a salary. Whether Reich's calculation of 100M in 11 hours is based on his net worth/year, the increase of his network in the last year doesn't really matter. The point is that 100M is irrelevant to him, its nice, but he wouldn't have it if he hadn't been screwing over as many people as possible, and continuing to direct amazon to do so.
Back to your example- if your parents own a 100k home outright, but their income is 250 month, then the economic situation where you live is either very odd, or they're indeed pretty well off, but can live frugally because of where you are. For example I'm on the upper side of middle class and doing ok, my net worth:expense ratio is ~50. Your parents is 400- assuming the house is all they have.
TheKobraSnake@reddit
There is no way to become a billionaire ethically, and there's no feasible way to spend a billion us dollars, imagine every cent after 999million of that money went to society instead, poverty, homelessness, healthcare...
petertompolicy@reddit
He's right.
Warren Buffett agrees.
Tax the rich.
feckshite@reddit
So it can go where, though? Who is one single US government official that is honest and / or competent enough to manage even more of our money?
inspectoroverthemine@reddit
You can't vote for people determined to brake government and then be surprised when government doesn't function.
More than half of congress is dead set making the government useless to the average person, while simultaneously complaining that its useless. Their lies are working though.
feckshite@reddit
Okay. But either way I don’t want to give those current people more money.
inspectoroverthemine@reddit
Hopefully you're at least trying to fix the problem by voting against people actively and publicly trying to wreck the government.
feckshite@reddit
K bud
FinestCrusader@reddit
They are taxed. The loopholes should be the main target.
Ozymandias_1303@reddit
I wonder what Robert Reich's grandson would think about this.
Raccoonooo@reddit
Billionaires only “donates” to charities for tax write-offs as there aren’t taxes on charities
sippyfrog@reddit
Good. The money does more when it goes to charity rather than the government.
Everyone who can should donate their tax burden to charity instead.
bongnandan@reddit
Unfortunately no. Most of charity money is gone in employee salaries which are preposterous amounts. 90% of it in fact. The rest is used for “charity”. At the end something like 1% reaches the people.
sippyfrog@reddit
Lmao wait until you find out what your taxes go to (spoiler alert, it's blowing up children in the Middle East).
I'll stick to the charities I picked myself.
bongnandan@reddit
I am not american. My tax money goes directly into the pockets of politicians.
windowpuncher@reddit
This is so fucking stupid, you're still paying taxes, you're just not paying taxes on money sent to the charity. If you made 50,000 and donated 10,000, you'd still pay the income tax for $40,000 and also not have the $10,000 you gave to charity.
You can feel good about donating but think it's some sort of cheat.
stojcekiko@reddit
You said it, not me.
2 BILLION MORE DOLLARS TO LOCKHEED-MARTIN!
Tireless_AlphaFox@reddit
If that is the case, I guess you can kiss goodbye all the public infrastructures and social welfare
sippyfrog@reddit
Oh boy a wild "but whattabout muh roads" lmao
Foxehh4@reddit
Okay since it's a joke now, there must be a solution - what about my roads lmfao? That's a legitimate question.
BSY_Reborn@reddit
For a legitimate answer, we have to cut out the extremists from the argument. To start, the vast majority of anti-tax people don’t actually believe in abolishing all taxes entirely, even if they do (imo correctly) believe that charities are far more efficient in use of funds than government-run services. I mean, there have been several times where the govt loses millions of dollars. Not wasted, just straight up LOST. As in unexplainable disappearance. That is definitely not the people you want to give money to, much less trust to run all of your services.
And to address the “but muh roads” thing, so far as I can tell, it comes from an argument to abolish federal income tax specifically, and since a common talking point for pro-tax people is that roads (and other public services ofc) would not be built/maintained if fed income tax was abolished, anti-tax people bring up that we did in fact have well maintained roads and highways before fed income tax was implemented.
Tireless_AlphaFox@reddit
Yes, roads, and not just roads. Buses, subways, postal service, justice system, congress, all the government branches, and even your local police officiers run on your tax money
MonkeManWPG@reddit
Are they wrong? Or does your view of Ancapistan include charities to build fucking roads too?
rlyfunny@reddit
Reminds me of these project cities in the US that tried to decouple from any government. Yeah usually went as expected. Shitty roads, shitty services and basically no institution above personal use.
There has yet to be a single one of those to be successful.
TayWu@reddit
Me when my ideology is full of so many holes that I think legitimate criticism of my statement is a meme:
UrougeTheOne@reddit
Government ran health care for the poor
Lurker_number_one@reddit
Me when i don't understand economies of scale.
stormcomponents@reddit
Brainlet take. You think giving 100M away to save 30M on tax makes any financial sense at all?
llIlIIllIlllIIIlIIll@reddit
Peak Reddit
llIlIIllIlllIIIlIIll@reddit
What? The donation is not counted as income, but it’s not like you actually make money by donating.
He’d still have more money if he just kept the 100M post tax
Wesley133777@reddit
As a note “tax write off” means they’re not paying taxes on the money donated, they still pay their usual taxes on all their other money, and that’s how it should be! The actual issue you should have is the lack of taxes on undonated money
Sesetti@reddit
Except most billionaires don't pay any taxes on their wealth at all.
ColumbusJewBlackets@reddit
Not to mention tax write offs on donations are a way to incentivize charitable donations, so the system is working correctly.
MostlyRocketScience@reddit
Exactly, you still loose money by donating. "They just donated for the tax write off" is a nonsense statement
shiny_xnaut@reddit
It's always a little bit annoying when people who don't know what they're talking about bring up "tax writeoffs" as if they're some kind of infinite money glitch for rich people
itsthehumidity@reddit
You're right, they're not. My understanding, however, is that there are some situations in which tax writeoffs effectively can be money glitches, as with fine art. As the story goes, someone can buy art for, say, $1M, then have it "appraised" later on by someone else, who's effectively in on the scheme, for something like $10M. Then, the buyer donates the art worth $10M, and writes $10M off their taxes. Now they'll save something like $4M in taxes from the art that cost them $1M to buy. Maybe that's not accurate, or no longer the case, but that's what I've read about.
rayschoon@reddit
I feel like tax write offs of non-security assets should be done based on the cost basis
jnkmail11@reddit
Exactly, but it's often even worse than this makes it sound. The art they "donate" can be donated to their own personal museum/org which allows for shenanigans like the museum being located on their private property and being virtually inaccessible to the public. They'll also then do things like host events at the museum for their friends' causes for free but estimate the value of that hosting at some huge markup to use it as a tax write off
jnkmail11@reddit
Exactly, but it's often even worse than this makes it sound. The art they "donate" will be donated to their own personal museum/org which allows for shenanigans like the museum being located on their private property and being virtually inaccessible to the public. They'll also then do things like host events at the museum for their friends' causes for free but estimate the value of that hosting at some huge markup to use it as a tax write off
LufyCZ@reddit
Correct.
Charity write offs are not a cheat code and anyone who thinks that should spend the time educating themselves instead of angrily arguing on the internet.
Fine art donations, on the other hand, can be a pretty crazy loophole if executed correctly.
shangumdee@reddit
If anything I would be more upset about using ridiculous purchases as "business expenses"
rayschoon@reddit
The tax code is also really strict on that. People think that influencers are writing off their Ferraris because they take pictures of it for instagram, but that’s not the case
inspectoroverthemine@reddit
You're right, hes not actually paying significant taxes in the first place, he doesn't need the write off.
komador@reddit
I mean there are infinite money glitches for rich people. It's not exactly that, but there are enough loopholes, so you can't be surprised that people are skeptical.
rayschoon@reddit
If I had a dollar for every time I read someone misunderstanding tax write offs on the internet I wouldn’t be at work right now
Ecstatic-Compote-595@reddit
they don't pay taxes on their money though. They leverage the increasing value of assets to get loans, which aren't tax in order to get pocket change which they might possibly pay sales tax to but usually to a different country. You're financing them and sucking them in the mean time, you're doing double duty.
AwesomeDog59@reddit
The donation means nothing. They own their own charity, out of the 100mil id be surprised if 1 mil goes to an actual charitable cause. The other 99 will be invested in financial instruments which will be owned by the charity, which is legal as they will claim the R.O.I will help the charitable cause even further.
Thus the 99 turns into 150 in a few years, money that the owner of the charity (jeff, or more likely, whichever family member or crony he had set up the charity, also for legal reasons and for PR), can now withdraw from tax free. The crony or family member in question will also be paid a gigantic salary for 'running' the charity (scratching their balls) from the money that was donated in the first place.
It gets worse, that 1 mil, the money that s actually going towards helping a cause, is not handled by Jeff's charity, but rather gets 'donated' to a research institute/humanitarian movement or whatever, an actual charity. That particular charity is now, in a weird fucked up way, in debt to Jeff, as they want to keep those types of donations coming every year. Which means whenever they have to pay to contract another firm for construction or transportation or what have you, they will use one of the many businesses Jeff is invested in, further increasing gis wealth, political influence, as well as his standing with his fellow shareholders.
Yet the mouthbreathing public knows nothing about the inner workings of the law, nor will they educate themselves, so here we are.
Wesley133777@reddit
Oh, so basically, how it works in the government too?
MonkeManWPG@reddit
Oh, right, that's okay then. I'll go back to licking his shoes like a good little peasant.
Ephsylon@reddit
Which are none if all their assets are active/tied to the market.
Expert_Swan_7904@reddit
jeff bezos donation is basically $20-40 to use regular folk.
im not even sure if that tax write does anything other than the principle of him not wanting to pay taxes
NCD_Lardum_AS@reddit
It's really not.
Bezos do not just have billions lying around in cash... Amazon "makes" 100mil in 11 hours. Not him
Expert_Swan_7904@reddit
he has 206bill in assets he directly owns
IIIIIlIIIIIlIIIII@reddit
İ regurally see screenshots of comments like this on r/accounting and everybody their cringe at people that say that
Raccoonooo@reddit
Getting called cringe on an accounting sub reddit has always been my biggest fear
BanjoMothman@reddit
Crazy how you guys are anti-charity to the point that you want the government to tax it.
Raccoonooo@reddit
Said what billionaires do, not what to do with it
MurkySweater44@reddit
You just…write it off, Jerry!
DeathByPig@reddit
It's a deduction and if they aren't associated with the charity they're still losing money.
Various_Search_9096@reddit
eh depends on the charity. Donating to a charity thats owned by your daughter just keeps the money within the family
Deldris@reddit
Yeah, it's pretty cut and dry. Businesses pay taxes on their profit, which is their gross profit - expenses. Donating to charity is considered an expense for the business so they pay less taxes.
So, ultimately, they're giving money to charity instead of the government. It's up to you if that's good or bad I suppose.
TerroFLys@reddit
Is that actually true by that logic he would already be a trillionair right
emanuelitto@reddit
Reading comprehension: not found
NichS144@reddit
Reich is an idiot who is wrong about basically everything.
broniesnstuff@reddit
Thank you sir, may I please have some more crumbs
dalastboss@reddit
He has billions because he has an army of desperate and exploited people working for his personal enrichment day in and day out. A fraction of the proceeds of exploitation are given back to the exploited and half of you want to polish his knob. If that’s you, here’s an idea - get some backbone.
llIlIIllIlllIIIlIIll@reddit
Somebody pls help I’m being exploited
beepbeepbubblegum@reddit
Simping for billionaires is crazy. That is money that no human could spend in several lifetimes. If I had that kind of money somehow, I would be traveling the world and going to restaurants and tipping people crazy amounts and doing as much as I can. Amassing that amount and just buying mansions and super yachts is just so lame.
ReallyDumbRedditor@reddit
Uhhhh you don't think Bezos also travels and tips well either? Thinking he only spends it on mansions and yachts, and nothing else, is ridiculous bro lmao.
SleepingPodOne@reddit
It’s called manufactured consent. Media owned by wealthy moguls has spent the last century trying to convince working class people to vote against their interests and believe in the rich as some sort of meritocratic class deserving of more wealth and power than the average person, and that they too can be that way if they just work hard.
It’s fucked us over so badly that they no longer really need to spend their money to do it anymore. People have bought the arguments, hook line and sinker, that’s why you see so many bootlickers in these comments. You got your hustle grindset influencers and podcasts, you got people like Joe Rogan who claim to be anti-establishment sucking off Peter Thiel… all people doing it not because they’re being paid by billionaires, but because they bought the propaganda. The long game, the investment, it all paid off.
Now Americans are so convinced by this that we’ve elected, and might elect again, a glorified Internet troll who has shown his genuine incompetence numerous times even before running for office, all because we believe his wealth somehow meant that he knew how to run things and not that he was born with a golden spoon in his mouth, making any business venture or risk he took mean very little in the grand scheme of things, and he would actually have to try to fail with his background.
In short, we’re fucked
inspectoroverthemine@reddit
greentext is filled with people born on third base who are convinced they hit a triple. Most of them are probably still supported by their parents. They have no concept of what it takes to live in the US without support.
Dragobro04@reddit
Of all the places to share serious political beliefs
TheZoomba@reddit
If Jeff really wanted to solve anything he'd spread his wealth across and solve poverty. And yes, HED STILL BE A FUCKING BILLIONAIRE AFTER
golsol@reddit
"he didn't give enough let's steal it from him instead"
Beautiful_Nobody_101@reddit
Robert is right
Gordon__Slamsay@reddit
I couldn't imagine being such a bootlicker
Cat_Of_Culture@reddit
guy with a thousand dollars donates a dime
SERGEANTMCBUTTMONKEY@reddit
"guy with a thousand dollars donates a dime"
Isn't that .. kinda reasonable? Most people with a thousand dollars to their name aren't donating a lot at all right?
Cat_Of_Culture@reddit
It's just an example.
The guy with a thousand dollars will be taxed appropriately. Will the billionaire be? No. He'll be taxed chump change.
TheRealBruh-_-@reddit
I agree with you about how hoarding this much wealth is usually made possible through exploitation, but this analogy is wrong, yeah he did donate a fraction of his wealth but it is still a substantial amount
Radaysha@reddit
Yeah, that's....that's the exact problem. We need to change exactly this.
tigerbait92@reddit
I am not religious, but I grew up going to church. But this reminds me of some scripture; there's a part of the Bible I remember hearing as a kid. Some poor old lady goes to church, gives the only bit of money she has to her name as donation. Bunch of rich folks laugh at her and drop what amounts to be thousands of times the money she gave in the donation bin.
Jesus (or whoever told the story, probably Jesus) scolds the men and basically calls them out on their 'charity'. Yes, the sum is higher, but it means nothing to them. For the old lady, what she gave is all she had, and that makes it far more selfless and far more important. Sure, it won't feed people like the thousands will. But it's more noble.
Kinda stuck with me and resurfaced in my mind when reading this post. Bezos donating $100mil is cool and all, and I'm glad people will be helped by it. But it doesn't mean anything to him. He's still got a bajillion dollars, he sacrifices nothing, the status quo remains the same. If a man with $100 to his name gave it away to help others, he'd be a hero. If a man who makes more than the GDP of several countries gives away $100mil, it's nothing. He doesn't help solve the problem, just bandages on an open wound. He is the problem. Amazon is a great idea, and a great service for consumers. But he doesnt work 300x harder than the people in his warehouses, he doesn't need to pay them so little while he attends meetings and golfs all day. The middle class is dying and the poor shrivel into nothingness and this man waves $100mil as a pittance.
That's why folks hate billionaires. I'm glad he donated, and I don't expect total systemic revolution from a guy who became the wealthiest man on the planet. But you can't have your cake and eat it, too.
inspectoroverthemine@reddit
Now imagine that the disparity isn't 300x, but 100,000x.
Jecka09@reddit
Didn’t Bezos step down as CEO? Does he still set employee pay?
inspectoroverthemine@reddit
So its even worse. He still becomes wealthier on the labor of others and hes even outsourced his job as CEO.
J_H_C@reddit
I'm pretty sure people in need appreciates bezos' 100mil more than your 0 dollars donated though
Cat_Of_Culture@reddit
Then I'm sure people will appreciate the extra stuff they'll get even more when he'll be accurately taxed
Bigb5wm@reddit
Robert doesn’t understand stocks value going up and down
Isavenko@reddit
I just did the math and if you earn 100 million every 11 hours, that means you earn 80 billion every year. Amazon’s total profits, of which Bezos only gets a share, were 30 billion in 2023. Twitter pulling numbers out of their ass as always.
Bradleyc22@reddit
ITT: poor people advocating for not taxing the rich even though they’ll never fall in that bracket
JustaBearEnthusiast@reddit
>be me
>see twitter screenshot of frontpage of reddit for 100th time. Idea.jpg
>download screenshot
>post on 4chan with my own regarded ass bootlicking take
>take screencap
>post it on reddit because they love screencaps of better social media
>???
>karma!
Grenzoocoon@reddit
Should just make this text a greentext and ss it two seconds after posting lol
Andrew852456@reddit
Yeah just seen that tweet a couple of posts above
Nobodyoumightknow@reddit
He thinks tax saves people
FireCZ123CZ@reddit
It does, it saves some people. But it also kills a lot, and its still theft
Aruhito_0@reddit
People need to be saved, because there are not enough of tax money to sustain proper systems and infrastructure.
The rich just give out a band aid.
Kayubatu@reddit
Same tax being used to fund military operations abroad to kill people.
MonkeManWPG@reddit
Ukraine is literally killing people!!1!1!1!!!!1!1!1
MonkeManWPG@reddit
Pretty sure feeding the starving and curing the sick does count as saving people, yeah.
Florida_Man_Revolt@reddit
Robert Reich got fired by Bill Clinton for being annoying.
AlexisTheArgentinian@reddit
Fuck Charities. If I was a Billionaire i would just hand out money like MrBeast. Charities are almost always corrupt asf
Ragequittter@reddit
tell me one ethical, exploitation free way of becoming a billionaire (both the music and sport industries are very exploitative
Gloamforest-Wizard@reddit
Yes let’s be grateful that someone donates next to none of the wealth they extract from the poor all the while he uses that donation to pay less taxes
Bros corpocucked
Azurealy@reddit
100 million is still 100 million. That’s better than 0. The rich are already paying most of the taxes and even if you literally took all of their net worth as direct cash (which you couldn’t even do if you wanted to) it wouldn’t be enough to cover the US budget for a year. It’s something like, if we sacrifice all of the top 500 US citizens and everything we have, turned all of their wealth, property, business, and stocks into cash through magic, it wouldn’t cover the US budget for 9 months. If you actually care about poverty, people in need, and even the average person, you should be more concerned about how we’re spending our money. Billions on billions going to foreign countries when we are already struggling? Billions going missing as the CIA never pass an audit? Even the money we do send to other countries mysteriously goes missing as the politicians that was in charge of that cash mysteriously become multi millionaires while their cousin begins and instantly wins a major contract with the gov? They don’t even hide it anymore. If we could have that money going to US citizens in need, into building important infrastructure (imagine finally having high speed rails from coast to coast,or affordable housing, or free healthcare for all). All it takes is some honesty from our politicians fulfilling their oaths to serve the US people.
hectic_scone@reddit
Isn't the second guy the dad of the CEO of College Humor?
enbymaster@reddit
This is also basically saying taxes are only voluntary for the rich and they get applauded for tossing pennies when people who actually work give up 25% or more of their checks every week.
Ephsylon@reddit
Counterpoint: if Billionaires were taxed effectively charities wouldn't be needed.
Tunaktunaktun159@reddit
no matter how much money the government takes they will manage to bungle half of it
FinestCrusader@reddit
I think that's part of the reason the rich can exploit all the loopholes to pay as little tax as possible. The government isn't stupid, they know what the loopholes are. Why can't they fix the system so it isn't exploitable? Because they themselves need the loopholes. Governments have more than enough money to fix a lot of things now but that money is always washed away into the pockets of people in power.
inspectoroverthemine@reddit
Wow- so much worse than billionaires hording 90% of it.
AlphaMassDeBeta@reddit (OP)
This seems like an excuse not to donate to charity.
Worst-Panda@reddit
Well he’s only donating to a charity so he won’t get taxed as much
Flashy_Narwhal9362@reddit
I appreciate the fact that he’s donating to a charity. But what I would like to see from companies big like Amazon , Walmart etc, is for the company to make a little less profit by paying the employees more. The end result would be less turnover and most employees would appreciate that maybe the company honestly values them .
Soos_dude1@reddit
Especially since it has been proven that higher wages (increased by not even that much) do wonders for employee productivity and mental health (having more money than the bare minimum does in fact help) and also increases birth rates, which will overall help the demographic situation as well.
PascalTheWise@reddit
Where did you read that wages correlate positively with birth rates? I've only ever heard of the opposite, and when you look at the world globally it seems to always follow this trend
Snazzysnaj@reddit
Do you think that developing nations have higher birth rates because they have lower wages? Correlation does not equal causation.
Soos_dude1@reddit
There was a study I heard about a guy who increased his employees wages from his own salary and the increased wages meant that the workers could afford a child or a house closer to work. Maybe to say it correlates positively with higher birth rates is a bit of a stretch, so my bad there.
zombiexcovenx@reddit
his donations are for tax write offs. he loses less money when he donates. he could so easily give his employees great benefits and pay and stimulate the economy
CloudyRiverMind@reddit
Amazon pays decent for warehousing at least.
Res_Novae17@reddit
He also paid over $3 billion in taxes last year. Exactly how much should he be paying?
xPrim3xSusp3ctx@reddit
These donations are literally just tax writeoffs disguised to trick chuds like oop
ejkpgmr@reddit
Imagine being the unpaid social media intern at Amazon having to read every post on 4Chan in case you have to defend Bezos. A truly nightmarish existence.
bdrwr@reddit
"That one lord once threw a handful of coins at peasants in the street, therefore it is okay that nobles own everything including our very lives while we subsist on potatoes and barley bread."
Alohoe@reddit
Taking all money and assets from all US billionaires would fund the current federal government for slightly less than 1 year aka 6 trillion. We have a government spending problem. It has grown so big you can't tax your way out of it. No politician has the spine to run on cutting government spending enough to make the difference excluding Thomas Massie. 25 cents of every tax dollar goes to cover the huge interest of our national debt. This will fail. Start prepping.
TryDrugs@reddit
He didn't donate shit he wrote it off his taxes.
immaZebrah@reddit
It can have ulterior motives but still contribute to the g water good.
The two are not mutually exclusive.
BigJeffe20@reddit
some schmucks just cant accept a good thing
Private_0bvious@reddit
“Eggh 11 hours of work??? That’s like that’s like nothing!!” (Let’s say you make $15 an hour, that times 11 hours is $165, this is probably more money than most that are complaining about him have ever donated all at once.)
Rando_Kalrissian@reddit
I'd just stop donating if people are going to complain. Whether he does it for a tax write-off or not, a donation goes somewhere.
slop_sucker@reddit
why can't the peasants simply enjoy the crumbs they're given????
Jacko_Moto@reddit
You know if big corps would pay their fair share and not use tax evasion nobody would need that donation
Bups34@reddit
Literally brain dead take
iNatee@reddit
Giving money to charity is not going to solve the problem. Systemic issues require systemic solutions
Joe_Wer@reddit
I'd be fine with Jeff Bezos if he gave me NEETbux
benbwe@reddit
No point in even arguing with a guy that actually thinks Bezos is making over 200 million dollars a day
Skyrith@reddit
This point is so irrelevant because no matter what the math is, people pretending as if jeff bezos isn't disgustingly rich just because his money is in stock. Like why are you even saying this? 200 million a day, a million a day its all the same he's insanely rich.
DiegesisThesis@reddit
"Won't someone please think about the poor heckin' billionaires!"
-local 4chinner
KarAce066@reddit
The point is these billionaires became ones by exploiting people and creating a problem that other billionaires will exploit too.
bobux-man@reddit
People who simp for billionaires are extremely regarded.
Interesting-Detail-2@reddit
Typical socialist reddit reaction... If a billionaire wants to scrooge mcduck his money and swim in it he can do that too. If you want the government to go after 50% of his assets it just means you're leaving the door open for the government to take 50% of yours too.
Interesting-Detail-2@reddit
...not to mention all the jobs we'd lose from every Amazon factory moving to Argentina. Despite the fact that Bezos is worth billions he's easily contributed that much to the American economy. Jobs, 401K, heal insurance, etc. If you demonize Bezos you risk taking that from MILLIONS of Americans.
hardwood1979@reddit
If the rich folk paid their share such acts of "charity" wouldn't be required
epicganerepic@reddit
op definitely lives off of unemployment
Awkward_Mix_2513@reddit
I don't understand, is a hundred million suddenly not a fuck ton of money? Yeah, it's for tax write-offs, but how does that change the fact that a food bank got a lot of money.
wirelessp0tat0@reddit
Still less of a dick move than my landlord raising my rent for the 4th time in a row just because he can.
Total_Decision123@reddit
Robert Reich is such a regard
Zenar45@reddit
Yeah, he's stupid
It's eat the rich
smh
Tsuku@reddit
Gobblin on that Bezos DICK
Handsome_Timothy@reddit
anon must be good at rodeo considering how well he's riding billionaire cock
MinimumTeacher8996@reddit
it’s a lot of money but compared to what he actually makes it’s like me donated £3. it’s nothing
GitGup@reddit
I am very grateful to my capitalist overlords while I sit here in my poverty shack working to death
neb12345@reddit
firstly eat the rich, but it has to be said that jeffs wealth isn’t in one massive bank account its mainly tied up in amazon shares, i wonder how much 100mil is compared to his day to day spending money, focusing on jeff and elon makes us forget that the real dragons hoarding the gold are generational wealth hiding from the public eye. although still fuck those two
Minimum_Will_1916@reddit
That's basically the equivalent of a guy making 15$ an hour giving 15$ to charity
Thenderick@reddit
Ofcourse it's nice he donated, but it's not about gratitude... It's the fact that he has so much wealth and sits on top of it like a dragon. HE HAS NO USE FOR THAT MUCH! You can't get THAT rich without exploitation. It's like a thief robbing multiple musea and then donating like three pieces back and people blindly saying "oh, why can't you be nice? He clearly gave back more pieces than you! Why not show a bit of gratitude???"
IamZeus11@reddit
We could talk about how many charities are setup to help the rich get richer and where most “non profit” money goes
thatguygxx@reddit
Anons are the type that would lock shit off the bottom of their bosses shoes and be jumping for joy about it.
Malfunction46@reddit
Anon gets his tendies from amazon
Anen-o-me@reddit
So he makes $79 trillion a year?
Doubt.
Jacko_Moto@reddit
Well you should spend some time in school and visit your maths classes
Anen-o-me@reddit
I did the math.
8760 hours in a year.
/ 11 = 796
796 x $100 million = $79 billion.
However he has not made that every year he's been in business. You'd find the average much lower across all the years he's been in business.
He's worth $170b / 30 years of operation =
$5.6 billion a year.
Which is $7.1 million every 11 hours, not $100 million.
Meanwhile the US government spends trillions it doesn't have, where do you think that money is coming from. You think value can be printed from thin air.
slightcamo@reddit
its not exactly a reasonable decision to donate so much money that you start to struggle financially, only enough to not really impact your bank account
Fby54@reddit
Idk if I did nothing for 11 hours and then gave it away I’d love free dickriding from the poor tbh
56Bot@reddit
100M in 11 hours ?
Seems like a lot. That would be 1.3B every week.
Explorer_the_No-life@reddit
Thats pretty cool of him, but he still should pay normal taxes like everyone. I am personally against progressive tax percentages, I think everyone should pay the same percent. I think that wouldn't be unfair for poor billionares.
PreviousLove1121@reddit
anon doesn't know that donations like this are heavily abused by the people making the donations resulting is them keeping 89% of the money they supposedly donated. and that's if they donate actual money.
sometimes they donate overvalued artworks, which I hope I don't have to specify, but the foodbanks can't use paintings. we're not talking renaissance paintings either, we're talking modern artworks that are mostly used for rich people to launder money and "donate" to charity.
ThexanR@reddit
Who owns that charity?
OfficialHelpK@reddit
The rich don't show a lot of gratitude when they live off the backs of working people either
General-Sloth@reddit
Billionaires are cancer to society. Philanthropy is just the "good" cancer diagnosis. It's still fucking cancer that needs to be removed.
GhostofGorilla@reddit
It's just so weird that people idolise billionaires. Like yes daddy, please exploit me and actively make me poorer whilst using politics to slowly strip away my rights.
pawnografik@reddit
$110 million every 11 hours??? That must exceed even the French king. It’s truly truly insane. Time for a revolution.
rlyfunny@reddit
It actually does and wealth inequality today is worse than in the times of the French Revolution
Eagle1IsMyGF@reddit
You shouldn't get a rap for donating 100 dollars to charity. Why should bezos? That's what he's doing.
Sonova_Vondruke@reddit
He's not criticizing the amount, he's criticizing his worth.
Expert_Swan_7904@reddit
the dude donated .05% of his worth..
its like the average person giving $20 to charity in comparison.
the dude could lose 1 billion and wouldnt even notice until someone told him
Worst-Panda@reddit
Simping for billionaires is some MAGA level regardation
Digiboy62@reddit
If I donated what I made in 11 hours, it would be about 220 dollars.
I can do that maybe once or twice month and not change my lifestyle all that much, and I'm not really a big spender.
If he stopped making any money whatsoever and all of his Net Worth was turned into cash, Jeff Bezos could donate 100 million dollars every single day for 5 years and still have multiple millions of dollars left over.
Stop sucking billionaire cocks like you will ever have any money even remotely comparable.
Aluminum_Tarkus@reddit
Another classic "net worth =/= income" moment. I don't understand why it's so difficult for people to realize that Bezos' net worth going up by $8 mil/hr doesn't mean he's earning $8 mil/hr in income. The value of my house and investment portfolio going up by around $10k/yr doesn't mean I'm getting that $10k/yr in cash.
That being said, it's still not as if $100 mil is a substantial amount of his available spending cash. We don't know exactly how much that is, but it's certainly not $8 mil/hr.
Dr-Fatdick@reddit
The top 1% in my country pay 30% of all tax bills, meanwhile the bottom 50% pay 10%.
This sounds really unfair, until you factor in that the 1% own over 70% of my countries wealth, and the bottom 50% less than 5%.
That means that the poor are taxed at double the rate they should be, and the richest taxed at less than half. This is reflected in the fact that the top 1% across the west had an enormous increase in wealth over the last 10 years whilst the poor had a further decrease.
Yet we're supposed to clap like fucking malnourished seals when one of them gives a fraction of their wealth to a charity that will do nothing to stop the trend that causes this poverty, especially when it's within their enormous political and economic power to actually do so? Fuck off
Maciokan@reddit
"The more we have, the less we give; the less we have, the more we can give." /Saint mother Teresa of Calcutta
Brave_Championship17@reddit
If you’re a billionaire you did more bad than the good you made by donating 100m
CloudyRiverMind@reddit
Lot of people in the subreddit who shouldn't be given any charity.
Arstanishe@reddit
Limitarianism should be implemented. lets limit personal wealth to 1 bn. including all of the assets
ecksdeeeXD@reddit
Yes, be grateful he donated money, but we don't praise a lawyer for dropping a 5 dollar tip in a jar.
DMmefreebeer@reddit
If the companies paid people more there would be less need for food banks. Philanthropy is PR ,advertising, and a "solution" to a problem the companies are partially responsible for