Elon Musk Buys Twitter

[Malkiah]

How much money does one normal person need?

need? about 60k a year to live a decent life in a metropolitan city (in this example, Denver which is in the top 10 most expensive US cities)

single, gamer, one bedroom renter, blow money on food and fun as i please, i save about 10k a year and spend the rest.

so using that as my metric.... IMO no person should have more than 3 million.
that is total. assets, savings, income, whatever.
once you own 3 million worth of resource, 100% taxation.

[Calfredd]

Twitter is a private company they can do whatever they want.

The Point






Your head. But I know you did that intentionally since it's you we're talking about.

[PC2]

need? about 60k a year to live a decent life in a metropolitan city (in this example, Denver which is in the top 10 most expensive US cities)

single, gamer, one bedroom renter, blow money on food and fun as i please, i save about 10k a year and spend the rest.

so using that as my metric.... IMO no person should have more than 3 million.
that is total. assets, savings, income, whatever.
once you own 3 million worth of resource, 100% taxation.

No those numbers are all arbitrary. In reality it's fine that we have hundred-billionaires who will become trillionaires in the next several years. If you think there is a cap to wealth then you're just going to keep getting proven wrong over the years.

[Malkiah]

No those numbers are all arbitrary. In reality it's fine that we have hundred-billionaires who will become trillionaires in the next several years. If you think there is a cap to wealth then you're just going to keep getting proven wrong over the years.

... what?
did we all just to watch you type while having a stroke?

[Mayhem]

Yellow Highlight.

So you pay you play. Having someone pay for a privilege and in this case speech is the definition of restricting free speech.

Also, a really good way to filter out bots by giving them a cheap option to gain traction, galaxy brain move.

- - - Updated - - -

... what?
did we all just to watch you type while having a stroke?

primarycolor2.0 has a stroke with every post so yes

[PC2]

... what?
did we all just to watch you type while having a stroke?

Sigh, when do you believe that people are going to hit a wealth cap? Why do you believe that?

Everybody on the planet can just keep growing their wealth over time...

[Endus]

Sigh, when do you believe that people are going to hit a wealth cap? Why do you believe that?

Everybody on the planet can just keep growing their wealth over time...

Infinite growth is a literal impossibility. Resource scarcity exists. You keep trying to ignore that physical reality has limits.

[Mayhem]

Sigh, when do you believe that people are going to hit a wealth cap? Why do you believe that?

Everybody on the planet can just keep growing their wealth over time...

Yeah, we're just going to tap into earth 2 after we've run out of stuff from earth 1 everyone knows that.

[PC2]

Infinite growth is a literal impossibility. Resource scarcity exists. You keep trying to ignore that physical reality has limits.

No that's the opposite of the truth, but it's okay because as time goes by you can keep looking at the statistics and you'll see that people can always create more economic value.

[Drutt]

No that's the opposite of the truth, but it's okay because every year for the rest of our lives we can keep looking at the statistics and you'll see that people can always create more economic value.

The bit you seem to be missing is that it doesn't matter how much extra money is generated if almost all of it goes into the pockets of a couple of hundred people.

[Forogil]

The bit you seem to be missing is that it doesn't matter how much extra money is generated if almost all of it goes into the pockets of a couple of hundred people.

But that isn't a good description of what is happening globally.

People living in extreme poverty have been declining in numbers roughly, since China switched from the great leap backward.

(After 2019 it's bleaker due to the pandemic.)

The confusion is that because the poor in some places, like the US, aren't getting richer the belief is that it is universal.

[D Luniz]

*snip*

Yellow Highlight.

So you pay you play. Having someone pay for a privilege and in this case speech is the definition of restricting free speech.

Twitter’s current lords & peasants system for who has or doesn’t have a blue checkmark is bulls–t,” Musk tweetted, bullshiting people

[PC2]

The bit you seem to be missing is that it doesn't matter how much extra money is generated if almost all of it goes into the pockets of a couple of hundred people.

Yes it does, it matters to the people who earned that money, it matters to their employees, it matters to the public and the government who get to tax that wealth.

---

Anyways as far as Elon Musk I think he is going to do a lot of trial and error with Twitter and that he'll find that there is a way to make it economically viable while also having a reasonable speech policy. People just need to stop freaking-out and be patient, give him a little time and breathing room.

[Drutt]

But that isn't a good description of what is happening globally.

Global rates of absolute poverty and relative wealth distribution inside individual nations are very, very different conversations.

[beanman12345]

Yes it does, it matters to the people who earned that money, it matters to their employees, it matters to the public and the government who get to tax that wealth.

---

Anyways as far as Elon Musk I think he is going to do a lot of trial and error with Twitter and that he'll find that there is a way to make it economically viable while also having a reasonable speech policy. People just need to stop freaking-out and be patient, give him a little time and breathing room.

Who exactly is freaking out?

[Iliena]

Anyways as far as Elon Musk I think he is going to do a lot of trial and error with Twitter and that he'll find that there is a way to make it economically viable while also having a reasonable speech policy. People just need to stop freaking-out and be patient, give him a little time and breathing room.

Nobody is freaking out, we are to busy laughing for that! ...44 billion spaffed up the wall!! haha

[Byleth]

I'm enjoying watching this train wreck play out.

I disabled my twitter account the other day, barely used it anyway.

[Huehuecoyotl]

No those numbers are all arbitrary. In reality it's fine that we have hundred-billionaires who will become trillionaires in the next several years. If you think there is a cap to wealth then you're just going to keep getting proven wrong over the years.

Look, I know you like nothing better than to parade your lack of critical thinking, but this is a bit much even for you.

So here's a thought experiment for you; if all the money in the world was owned by, let's say, 10 people, would the economy still work? No, of course not. There wouldn't be any left to exchange between the rest of the economy. It would collapse. So since it works at the moment, and it fails if the money all ends up in just a few hands, it stands to reason that there is a point where too much money concentrated in too few hands will break the global economy. Ergo, we need to do something to reverse that process, before it goes too far. Hence 100% taxation over a certain level of wealth.

You could argue that what's happening in the economy today are the first suggestions of the economy buckling under the strain of all the money getting concentrated. I wouldn't argue with that. Either we do something now to address it in a controlled way, or it gets redistributed in a much uglier, more damaging way at some future point. I'd prefer it to be done in a civilised way.

[Forogil]

Global rates of absolute poverty and relative wealth distribution inside individual nations are very, very different conversations.

Yes, and the global rates of absolute poverty show that the wealth increase in recent years has globally benefitted the poor.

And Musk's Twitter-buy seems to have (marginally) decreased wealth inequality, since few think that Twitter is currently worth 44 billion $.

[Mayhem]

But that isn't a good description of what is happening globally.

People living in extreme poverty have been declining in numbers roughly, since China switched from the great leap backward.

(After 2019 it's bleaker due to the pandemic.)

The confusion is that because the poor in some places, like the US, aren't getting richer the belief is that it is universal.

Are you seriously celebrating that most people don't have to live on $1.90 per day anymore?

Hey buddy, you're making $2.10 a day, be happy you're not extremely poor, wohoooo wooohooooo!!

here are some oxfam facts about the top 10 richest men in the world:

1. The world’s 10 richest men more than doubled their fortunes, from $700bn to $1.5
trillion—at a rate of $15,000 per second, or $1.3bn per day—while the incomes of 99% of
humanity are worse off because of COVID-19.
2. The 10 richest men own more wealth than the bottom 3.1 billion people (six times more,
in fact).
3. If the top 10 billionaires spent a million dollars each a day, it would take them 414 years
to spend their combined wealth.
4. If the top 10 billionaires sat on top of their combined wealth piled up in US dollar bills,
they would reach almost halfway to the moon.
5. If the 10 richest men lost 99.999% of their combined wealth, they would still be richer
than 99% of the world.
6. A 99% windfall tax on the COVID-19 wealth gains of the 10 richest men could pay for
enough vaccines to vaccinate the entire world and fill financing gaps in climate
measures, universal health and social protection, and efforts to address gender-based
violence in over 80 countries, while still leaving these men $8bn better off than they
were before the pandemic.