Greg KnaussJun 9

If a billionaire is a policy failure, a trillionaire is a civilizational one.

One person hoarding that much wealth in a world where people are in need — hungry, sick, homeless — is the end product of a society undergoing the complete collapse of human decency.

A trillionaire is an obscenity.

Show threadchollingJun 9
@gknauss I won't deny that Musk is an obscenity, but he's not really a trillionaire. More like "enough investors believe his fairy stories for the time being that he'd have a trillion dollars if his stories were real."
Show threadEndemicEarthling
@cholling @gknauss That's what all fiat money is: a collective fiction/act of shared imagination. If enough people believe in it and treat it as real, it has real effects.
Jun 9 at 11:45pmWeb
Show threadchollingJun 10
@EndemicEarthling @gknauss Except fiat money is backed by laws, armies, and police. Stock valuation is backed by vibes.