I got curious enough to look up some comments and he really is just getting torn apart. It's beautiful.
> Every time I read one of PG's posts, it seems like he's working from a narrative that he's trying to conform facts to.
And HN is a technical shit show.
One time he tried to impress everyone with how lispy it was, and crashed it by making an infinite loop in the DB without realizing it.
The reason the percentage of heirs has decreased is not that fewer
people are inheriting great fortunes, but that more people are making
them.
N=100 you doofus.
E: ‘the old people got rich by inheritance, which is worse than the
new rich, who get rich by not paying the public enough or other ways of
scamming the average person’ (also forbes list doesn’t list certain
types of people, like Putin for example)
It’s easier now to start and grow a company than it has ever
been.
Also, a non trivial number of the new billionaires were bootstrapped by being heirs of moderate wealth. Bezos got a $250,000 loan from his parents to start Amazon. It’s not that many people who have 5x the median yearly income sitting around liquid.
Yeah, I wouldn’t say that Bezos did nothing to get his wealth; he clearly had an insightful idea that made him a ton of money.
The issue is when people argue that Bezos and similar are a sign that we’re a meritocracy, which usually ignores how much parental wealth and status is a factor for many young entrepreneurs.
Yes and how much superwealth is often just 'skim a percentage of each transaction and give that to the company, and ignore that this gives the big stockholders more wealth than emperors and leaves the low level workers pissing in bottles.
Even the hackers weren’t impressed. N-gate is gonna feast.
N=100 you doofus.
E: ‘the old people got rich by inheritance, which is worse than the new rich, who get rich by not paying the public enough or other ways of scamming the average person’ (also forbes list doesn’t list certain types of people, like Putin for example)
Guess Paul is a covid denier now.
Even SSC is skeptical.
“some vague right turn the country took under Reagan”
how dumb is this guy
Why would you pick it up though