RISH TAKING AND CAPITAL

You may have heard recently how Elon Musk has been firing, at times illegally depending on region and contract, people by the hundreds from Twitter. This naturally has been praised by the “I am not poor, just temporarily not rich” crowd who believe that if they kiss up to the rich enough maybe that fortune would rub off on them.

This brings us to not as recent news of railroad strikes and the atrocious response of the board of directors. The board has said the quiet part out loud and revealed what they always believed. That it is not the work that generates value but the owners by their incredible “Risk taking and capital” are the ones generating profit. That was how they were justifying their multi-million-dollar paychecks. I strongly recommend readers investigate it.

The situation is not much better in the tech sector either. The software engineers who get 100k+ salaries etc. generally must move to higher cost-of-living areas such as Boston, San Francisco, etc. where that hefty paycheck mostly goes to the landlord. While few enjoy the benefits of owning property in those places even better yet, their trust funds can make cash offers on assets to avoid the rising interest rates entirely.

When asked why the only answer we get is that these people took this beautiful and magical “Risk” and are now enjoying the benefits.

What is this nebulous risk that they are taking when the legal structure protects their fortunes and if they are big enough, they get bailed out of their irresponsible risk-taking? While the employee can lose their entire livelihood if their boss decides to fire a few people that day for any reason. I say we ought to end this charade and face the music. The only reason extreme rich exists is not that they do something that contributes to society but because the hype is the main currency that props up the value, they got from already being rich.

I urge all the readers to look deeper into the actual contributions of all the people in the Forbes 100 list and find if they added any value besides the money, they either convinced their rich friends to put in or the money they had by the virtue of being born into the rich class.