I watched this video essay by Benn Jordan on American Capitalism that suggests the ultra wealthy are trading their net worth for control. Companies don’t want to make more money, they want to have more control over your life. They’ll buy out every competing company and give out their products or services at a loss even if it means losing a billion dollars a year with no plan to turn a profit anytime soon. They do it with the goal of becoming the only company that provides something people rely on.
Musk’s net worth has dropped $100 billion but he now controls what government programs get funding and who gets government jobs. He traded his net worth for control.
On a similar note there are arguments that claim Putin or MBS are far wealthier than Musk for similar logic as that video. At those points money means nothing and the next step is influence.
I watched this video essay by Benn Jordan on American Capitalism that suggests the ultra wealthy are trading their net worth for control. Companies don’t want to make more money, they want to have more control over your life. They’ll buy out every competing company and give out their products or services at a loss even if it means losing a billion dollars a year with no plan to turn a profit anytime soon. They do it with the goal of becoming the only company that provides something people rely on.
Musk’s net worth has dropped $100 billion but he now controls what government programs get funding and who gets government jobs. He traded his net worth for control.
On a similar note there are arguments that claim Putin or MBS are far wealthier than Musk for similar logic as that video. At those points money means nothing and the next step is influence.