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You could see it in the Twitter v. Musk direct messages exhibit. They aren't uber-geniuses, have great insights beyond "normal people", good impulse control, or Vulcan-like stoicism. What they have that we don't is control of hundreds of billions to trillions of dollars. If we didn't treat them like gods and give them dictator for life power over this volume and concentration of assets then it wouldn't be a big deal. But we did. We need to unwind the whole thing ASAP. #BillionairesShouldNotExist #SVB #capitalism #SiliconValley https://www.nytimes.com/2023/03/16/opinion/silicon-valley-bank-venture-capital.html
#Capitalism #SiliconValley #BillionairesShouldNotExist #SVB
in reply to Hank G ☑️

Bozo T. Clown
Bozo T. Clown
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@robonecon I'd go so far as to say there's something inherently wrong with someone who does what it takes to extract billions of dollars of capital from large numbers of fellow humans.
@Rob Tischer
This entry was edited (1 year ago)
in reply to Hank G ☑️

smellsofbikes
smellsofbikes
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I saw elsewhere: billionaires are a symptom of market failure. It's stuck in my mind.
in reply to smellsofbikes

Hank G ☑️
Hank G ☑️
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@smellsofbikes I wish that were true. It seems that the natural end state of unregulated markets where the unit of value storage is not perishable is excess concentration. I saw a YT video of someone running some simulations on that that showed this to be true, but I didn't delve into the research enough to say have confidence in their methods to the point where I'd want to share it.
@smellsofbikes
in reply to Hank G ☑️

William Robison
William Robison
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this op-ed illustrates how Twitter could crash our banking system.

I was with a regulated I know and they checked messages and said "that's weird it's like someone is targeting our banks". "What do you mean?" "Someone twitted 'what's going own at Silicon Valley Bank".

I heard nothing more until the shit hit the fan on Friday.

My point being that a rumor can start on Twitter and could chase the economy. As you know Hank, the lack of moderation is dangerous.
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