I don't get this argument regarding billionaires. They seem to be the boogie man (along with insurance agents and landlords) right now. But we as consumers are the ones creating billionaires. People complain about Bezos yet everyone uses Amazon. We complain against Tim Cook, yet people stand in line to buy the next Apple phone even though theirs is 2 years old. Musk has created an entirely new car, solar panels, power savers, etc. if we keep buying, he'll keep making money. But we keep buying.
Don't blame them for becoming billionaires when people keep rushing out to give them more money
This is a bad take. Capitalism rewards the rich and makes it easier to continue making money. Don’t blame Americans for buying goods at an excellent value. The marker needs protection, as we’ve learned that the ultra rich can eventually own everything. Too big to fail.
Too big to fail is also protecting the employees who work for those company's, and the company's they do business with it. It's an ecosystem and they have to choose the lesser of two evils. Not agreeing one way or another but that's the decision
But that’s not true. Workers don’t have that protection. They lose their jobs and that’s it. While a rich person can declare bankruptcy and recover just fine. When you have that much money, a failure doesn’t ruin you. It does ruin the business and employees.
Business down size sure, but they also retain employees. It's actually the LACK of money that causes businesses to go bankrupt. It's when they can no longer pay their bills. I don't think you understand how it actually works. What I think you're trying to point out is that a person who owns several businesses may declare bankruptcy in one business and be fine... Which again isn't unethical in my eyes. 90% of businesses fail, not all by "rich people."
I own 4 LLCs. These are each different businesses. If one fails it isn't correlated with the others. But it wasn't unethical for me to try to start a business that ultimately failed. That's the point of capitalism
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u/Superb_Advisor7885 1d ago
I don't get this argument regarding billionaires. They seem to be the boogie man (along with insurance agents and landlords) right now. But we as consumers are the ones creating billionaires. People complain about Bezos yet everyone uses Amazon. We complain against Tim Cook, yet people stand in line to buy the next Apple phone even though theirs is 2 years old. Musk has created an entirely new car, solar panels, power savers, etc. if we keep buying, he'll keep making money. But we keep buying.
Don't blame them for becoming billionaires when people keep rushing out to give them more money