no one should have a billion dollars. no, not him either.

[finessesosa]

Pass that homie

still laughing. First reply was golden

 

[cosmiccoffee9]

got a lot of our tax dollars invested in this future....idk about you guys, but I just want my mf check.

Cheating At Monopoly ❧ Current Affairs

<p>Forget private-sector innovators; examining the state’s role in creating the Internet and mobile tech… </p>

www.currentaffairs.org

Whenever fresh waves of scandal crash into Big Tech, its defenders reliably bring up the cutting-edge technology itself. Sure, they may be incredibly powerful, but hey they earned it—Gates and Jobs and Bezos and Zuckerberg had to invent the technology that made them rich, right? Say what you want about our private sector innovators, at least the private sector brings us wondrous innovations in the first place.

Except, of course, that the original name for the Internet was ARPANET, because it was developed by the U.S. military’s research arm and affiliated universities. The original address of Google was not google.com but google.stanford.edu, because it was developed in a publicly-subsidized research campus. The original Wi-Fi network was ALOHAnet, because the U of Hawaii struggled to network its island campuses and developed new radio technology to do it.

A similar story emerges with artificial intelligence, considered among the most advanced technological fields today, with origins again in public research. Merchant observes that “Before Siri was a core functionality of the iPhone, it was an app on the App Store launched by a well-funded Silicon Valley start-up. Before that, it was a research project at Stanford backed by the Defense Department with the aim of creating an artificially intelligent assistant.”

The field is advancing based on deep neural networks—computer algorithms modeled on the human brain that crunch data and attempt to learn to do different tasks. These most elaborate algorithms, however, will be corporate property, and the companies will resist divulging their proprietary code just as they already do for more conventional algorithms that sort search results and screen loan applicants. The conservative Wall Street Journal observes “For the corporations, the algorithms will be proprietary tools to assess your loan-worthiness, your job applications, and your risk of stroke.

There are institutional reasons that major technological leaps are so often made by publicly-backed research entities rather than private companies. Only states and publicly-funded research institutions can support long-term basic scientific research, which by its nature is based on exploring the unknown and is never sure of any breakthrough, let alone a money-making one[...]Private institutions are under systemic and legal obligations to make money quickly to reward their capitalist investors, and expensive, uncertain long-term research is inevitably harder and harder to justify as quarters tick by with few money-making breakthroughs to show for it.

...pass that, tho.

 

[Present]

got a lot of our tax dollars invested in this future....idk about you guys, but I just want my mf check.

Cheating At Monopoly ❧ Current Affairs

<p>Forget private-sector innovators; examining the state’s role in creating the Internet and mobile tech… </p>

www.currentaffairs.org

...pass that, tho.

Posted this yesterday...

Missing a Great Opportunity

It is another bitter irony of history that Reagan’s ascension in 1980 coincided with a moment when the United States was on the cusp of what could have been a golden age. Federal investments in transportation, technology and science had brought the country into sight of a new horizon where a broad prosperity was possible for the entire population.

Through the tax structure of the 1950s, 1960s and 1970s, Americans had footed the bill for a wide range of advancements. However, some temporary economic reversals in the 1970s from the Vietnam War’s inflationary hangover to oil shocks in the Middle East created a national malaise that Reagan promised to cure with his cheery personality and tax policies.

So, instead of the country profiting from all those government investments from the highway system under Eisenhower to microprocessors from Kennedy’s space program to the Pentagon’s early development of the Internet the profits went almost entirely to big corporations and the rich who devised ways to take advantage of this taxpayer-financed progress.

Some of the new rich, who piggybacked onto government-funded projects like the Internet, claimed they were the worthy ones who deserved their sudden wealth. Republicans continue to warn that it is wrong to punish society’s “winners,” even though many online moguls might be delivering pizzas today if it weren’t for the taxpayer money used to create the Internet.

Meanwhile, average Americans lost out in two ways: first, the higher productivity from the technological breakthroughs eliminated many middle-class jobs, from factory work to accounting, and second, the adoption of “free trade” policies shipped many jobs overseas to lower-wage countries.

Those two developments alone ensured super-profits to multinational corporations and their wealthy owners. However, instead of a large chunk of that money going to pay back the nation for the crucial investments and for the global security that made the “free trade” possible, the money mostly went to buy expansive mansions and expensive baubles.

If the pre-Reagan higher marginal tax rates had stayed in place, the extra money could have been reinvested in the country’s infrastructure and recycled into additional scientific research, creating millions of new jobs to replace those lost to both technology and globalization.

That lost opportunity represented not only a personal tragedy for the millions of Americans who then frantically sought to maintain their living standards by working more hours and borrowing against their homes, but it marked a historic tragedy for the entire planet because there was a chance for people everywhere to enjoy the fruits of this new technology.

Instead, the ill-timed arrival of Ronald Reagan on the world stage changed that history. But that is not the narrative that most Americans hear. Instead, Ronald Reagan has been transformed into a national icon with recent U.S. polls rating him the greatest president ever.

 

[Deleted member 42060]

got a lot of our tax dollars invested in this future....idk about you guys, but I just want my mf check.

Cheating At Monopoly ❧ Current Affairs

<p>Forget private-sector innovators; examining the state’s role in creating the Internet and mobile tech… </p>

www.currentaffairs.org

...pass that, tho.

yup, people with degrees develop some of the most innovative technologies made. Then people with some cash make more cash after making it a successful business.

 

[cosmiccoffee9]

The Democratic Candidates' Wealth, to Scale

rossblocher.com

for context- this gives a single human being a similar approximate weight on the world stage to nations including Luxembourg, Syria, and Trinidad (+ Tabago)...obviously a sign of a healthy, well-balanced society.

 

[DCAllAfrican]

 

[...So]

 

[cosmiccoffee9]

this current crisis is set to showcase capitalism at its absolute ugliest.

LOOK AT THIS ****.

Jeff Bezos, World’s Richest Man, Wants Your Donations To Help Amazon Employees

Jeff Bezos, the world’s richest man, is asking the public for donations to help Amazon employees weather the COVID-19 (coronavirus) outbreak.

www.mintpressnews.com

Amazon CEO Jeff Bezos, the world’s first centibillionaire, a man who vies with Bill Gates for the title of the planet’s richest individual, is asking the public for donations to provide basic support to his 800,000 employees who are suffering in poverty in the wake of the COVID-19 pandemic. Bezos announced:

“We are establishing the Amazon Relief Fund with a $25 million initial contribution focused on supporting our independent delivery service partners and their drivers, Amazon Flex participants, and seasonal employees under financial distress during this challenging time.”

The fund will also support both employees and contractors around the world that face economic hardship due to natural disasters or unforeseen personal circumstances. Those who qualify can apply for a grant of up to $5,000.

context: Bezos gained almost $3,000 USD of our civilization´s resources for every second it took to read this.

 

[marikomorose]

1965:

 

[Brownstone]

People aren't defending billionaires, they are defending the right to be able to become one

 

[you go boy]

the greed is real... its really true the rich get richer and the poor get poorer.... so basically the rich just care about themselves and how much money they can make... the audacity for bezos the richest man in the world to ask the public for a donation to pay his staff when he can do that on his own single handedly is disgusting... but this is the world we live in SMH... i coulda swore facebook was doing this also but i cant find the link

 

[アミーゴ]

you go boy FB paid all of their employees an extra 1k right away.

 

[Stakeholder]

estimates have put Putin's wealth over $200B

 

[ALNotSure]

Posted this yesterday...

Missing a Great Opportunity

It is another bitter irony of history that Reagan’s ascension in 1980 coincided with a moment when the United States was on the cusp of what could have been a golden age. Federal investments in transportation, technology and science had brought the country into sight of a new horizon where a broad prosperity was possible for the entire population.

Through the tax structure of the 1950s, 1960s and 1970s, Americans had footed the bill for a wide range of advancements. However, some temporary economic reversals in the 1970s from the Vietnam War’s inflationary hangover to oil shocks in the Middle East created a national malaise that Reagan promised to cure with his cheery personality and tax policies.

So, instead of the country profiting from all those government investments from the highway system under Eisenhower to microprocessors from Kennedy’s space program to the Pentagon’s early development of the Internet the profits went almost entirely to big corporations and the rich who devised ways to take advantage of this taxpayer-financed progress.

Some of the new rich, who piggybacked onto government-funded projects like the Internet, claimed they were the worthy ones who deserved their sudden wealth. Republicans continue to warn that it is wrong to punish society’s “winners,” even though many online moguls might be delivering pizzas today if it weren’t for the taxpayer money used to create the Internet.

Meanwhile, average Americans lost out in two ways: first, the higher productivity from the technological breakthroughs eliminated many middle-class jobs, from factory work to accounting, and second, the adoption of “free trade” policies shipped many jobs overseas to lower-wage countries.

Those two developments alone ensured super-profits to multinational corporations and their wealthy owners. However, instead of a large chunk of that money going to pay back the nation for the crucial investments and for the global security that made the “free trade” possible, the money mostly went to buy expansive mansions and expensive baubles.

If the pre-Reagan higher marginal tax rates had stayed in place, the extra money could have been reinvested in the country’s infrastructure and recycled into additional scientific research, creating millions of new jobs to replace those lost to both technology and globalization.

That lost opportunity represented not only a personal tragedy for the millions of Americans who then frantically sought to maintain their living standards by working more hours and borrowing against their homes, but it marked a historic tragedy for the entire planet because there was a chance for people everywhere to enjoy the fruits of this new technology.

Instead, the ill-timed arrival of Ronald Reagan on the world stage changed that history. But that is not the narrative that most Americans hear. Instead, Ronald Reagan has been transformed into a national icon with recent U.S. polls rating him the greatest president ever.

Stands and applauds.

 

[marikomorose]

Millionaire Televangelist Kenneth Copeland Wants People Losing Their Jobs To Donate To His Church Anyway!

 

[Lee And His Sneaks]

Honestly it's none of your business if someone is a millionaire or a billionaire.
If you make your money in a legitimate fashion, go on ahead and be a millionaire or a billionaire.

 

[Deleted member 42060]

The simple mentality is this, richer classes care about their group and themselves as individuals, while poorer classes have a collective care mentality.

 

[cosmiccoffee9]

Honestly it's none of your business if someone is a millionaire or a billionaire.
If you make your money in a legitimate fashion, go on ahead and be a millionaire or a billionaire.

fair...but how many people would you say have legitimately earned one billion dollars through their work?

 

[Lee And His Sneaks]

fair...but how many people would you say have legitimately earned one billion dollars through their work?

I don't know. I don't have access to each and every billionaire's books. However, just because someone is a billionaire it doesn't mean they got it through illegitimate means. This isn't an 80s cartoon.

Believe it or not, there are people out there who keep their heads down and work to amass such a fortune.

 

[ahat]

Looks like Nouss lunch serving

 

[DCAllAfrican]

Looks like Nouss lunch serving

Good one

 

[gry60]

People aren't defending billionaires, they are defending the right to be able to become one

The problem with the way these billions are made is that the 0.01% are the equivalent of the kid who doesn't do the background research for the project, gets handed everybody else's work for the presentation, and gets A and the praise of the professor while everybody else gets B's and C's because they weren't active during the presentation. It's exploitative, and in this capitalist system, this is the only way this level of fortune gets built. We see it, we all know it, and people are finally tired of this.

There is a reason the following will sound familiar to many:
"The company has achieved a record year in profits, but there's no money to raise salaries beyond the rate of inflation." Meanwhile, executive compensation grows significantly.

 

[Brownstone]

The problem with the way these billions are made is that the 0.01% are the equivalent of the kid who doesn't do the background research for the project, gets handed everybody else's work for the presentation, and gets A and the praise of the professor while everybody else gets B's and C's because they weren't active during the presentation. It's exploitative, and in this capitalist system, this is the only way this level of fortune gets built. We see it, we all know it, and people are finally tired of this.

Your argument lacks nuance, there are exploitive billionaires, there are also exploitive Foot Locker managers. For every Billionaire that was gifted their fortune, there is a self-made one. It's all about risk, people are rewarded for the risk they assume.

Employee compensation, while tangential to the topic has absolutely ZERO to do with why billionaires should have the opportunity to exist.

Both statements are true:

Mark Zuckerberg is worth Billions because he created trillions in new wealth. There is a direct correlation to the wealth he has collected and the wealth he has created.

Mark Zuckerberg is a terrible person

There should be legislation to curb the power of institutions like FB, but Mark is entitled to his wealth and worked for it.

 

[hipstermike]

There is more than enough wealth and technology that society could change but it won’t due to our nature

it would take something that threatened all of our existence like aliens or some **** to change everyone all at once

even then some mfs will find a way to step one someone else

 

[$teamy Clapton]

Hey OP...if no one gets a billi, that means it goes to the government.
Thats too communist for me