While inflation hurts we need some of these crazy money and valuations to come down to realistic levels . I don’t want Elon Musk to become the next Rupert Murdoch.
While inflation hurts we need some of these crazy money and valuations to come down to realistic levels . I don’t want Elon Musk to become the next Rupert Murdoch.
Billionaires are bad because they have way too much power and influence over our democracy but their wealth doesn’t actually reflect some hoard of basic goods that we could be giving to poor people. If we decided to strip Bezos of all his money and use it to give everyone $200 of groceries it would just mean barren store shelves for a couple weeks.
Do you have any info on this? Most people I know have similar or higher incomes compared to 2019, but maybe that's just the bubble I'm in.
The top 10 richest people became richer, from $700 billion to $1.5 trillion. This is an increase, even after inflation.
Most of the world's population had their real income decrease, as any gains they tended to get were mostly less than inflation.
Both of these things are true.
Well those tech billionaires have lost more than those gains by now. Are you happy now?