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0 pointshackyhacky3d ago0 comments

> Musk creating wealth has taken nothing from me. How about you?

That's exactly what he'd like you to believe. Where did that money come from? Did he just print it himself?

> Musk creating wealth has taken nothing from me. How about you?

Considering that billionaires are actively involved in writing the laws that ostensibly apply to them (see also: regulatory capture), I hardly think that legality should be highest bar that we hold them to. After all, the lords of medieval France acted "legally" when they executed their tenant farmers for failing to pay rent after a bad harvest.

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WalterBright3d ago

> Where did that money come from?

The value created by his company. That value can be turned into money by selling shares of it (stocks), or by borrowing against it (bonds).

Money is created by banks. When banks loan you money, that money is created by a notation in the bank's ledger. But they only loan money on collateral, which would be in this case the value of the company. The money gets destroyed (!) when the loan is paid off. But the value of the collateral remains.

tardedmeme2d ago

So you don't think when Musk took taxpayer money that he took anything from you. Are you not a taxpayer?

hackyhackyOP3d ago

> The value created by his company.

A company is just a legal fiction. It doesn't do anything without people. The value was actually created by the people who work for Musk. In other words, those employees create a large value, and are paid a relatively low compensation. The difference goes to Musk, who contributed no value at all.

That's called theft.

> Money is created by banks.

Huh? No it plainly is not.

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