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As Amazon Shares Fall, Jeff Bezos Is No Longer A Centi-Billionaire

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5 hours ago, Remmie said:

No one 'deserves' that level of wealth. It's obscene

What's he supposed to do? Retire? Give his business away? Who knows what he actually does with the money he makes, for all we know he might be snorting coke or making schools in every land. 

 

Taking his money away wouldn't necessarily solve the world's problems, neither would it spread wealth across the world. 

 

It's the people who run drug cartels who become billionaires that I'd have the biggest problems with. 

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6 hours ago, Rick Sanchez C-137 said:

 

Even returns process is smooth. Just don't mention that half the stuff returned goes straight to the landfill as testing it, sorting it, restocking as refurbished etc costs too much.

I don’t know if it’s over here or widespread but I saw something about you could buy ‘mystery pallets’ of returned Amazon goods. Haven’t looked into it properly but sounds interesting. 

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53 minutes ago, Shooter in the Motor said:

What's he supposed to do? Retire? Give his business away? Who knows what he actually does with the money he makes, for all we know he might be snorting coke or making schools in every land. 

He could pay his fucking staff properly and not oversee harsh conditions 

 

I think he has invested some of his money in a rival space programme to Elon Musk and also some money towards climate change

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6 minutes ago, Remmie said:

He could pay his fucking staff properly and not oversee harsh conditions 

 

I think he has invested some of his money in a rival space programme to Elon Musk and also some money towards climate change

I guarantee a drug lords 'Couriers' get paid a lot more than Amazon's.

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1 hour ago, Shooter in the Motor said:

 

Taking his money away wouldn't necessarily solve the world's problems, neither would it spread wealth across the world. 

Actually, if you took all his money & spread it around the World, that would around $28 for each human & that's a fair bit of cash for someone with fuck all. You could split it between the poorest 10% and it would go a lot further.

 

Daft hypothetical nonsense but still pretty fucking mental. 

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While it's obviously true that wealth should be more evenly distributed globally, I think a big part of the problem is that it's not like Bezos and Gates just have $100 billion in their bank accounts that we could just distribute.

 

The vast majority of their wealth comes from their controlling ownership in Amazon and Microsoft. You could argue that we should strip any shares worth over, say, $100 million from anyone who owns them, but that would be a completely different argument. I don't think anyone suggesting we give Gates' wealth to the poorest 10% really thinks we should give them each a Class A voting share of Microsoft stock.

 

How do we let the guy who started the company and presumably, is most qualified to run it continue to do so, while simultaneously not letting him get so absurdly wealthy that he could buy and sell many small nations is a pretty complex question.

 

To me, the much bigger issue is the billionaire heirs and heiresses. There is absolutely no reason that you should be able to pass along more than maybe $5-10 million (which we could, over time, increase for inflation) to your children. I think the Walton children (whose grandfather started Walmart) are 4 or 5 of the richest 10 people in the world, which is just stupid.

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People smarter than me have made the case the wealth Bezos has is a symptom of the week antitrust laws. Arguing over how much he and his heirs should have is the wrong argument for me. More how his and similar companies have been allowed to get so big. If it's framed as you are taking something off someone it goes against peoples wharped 21st century of capitalist fairness and allows the discussion to be distracted. 

Over the past few years Warren and Sanders and others have made a case for the likes of Amazon to be split up. There are ongoing investigations into Facebook and Google where some have made the case for them be to be broken up. The EU went after Google and the Democrats and Republicans are not just talking about the economic impact but the challenges to democracy these companies are posing.  At what stage do governments allow a handful of companies to dominate a marketplace. I guess we are going to find out in the next few years. 

 

 

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