[simonh]

Yet somehow people like this manage to employ and fund the livelihoods of tens of thousands of people, established an ecosystem of skilled engineers, and deliver products that run huge swathes of the economy. I’m no particular fan of Ellison, but I’ve worked for a billionaire when he made his money, Mo Ibrahim. Just the nicest guy. His technical smarts and business sense helped launch a key stage in my career and I’ll always be grateful. He deserved every penny he made and everyone I know that worked for any of his companies, and his customers, did very well out of his hard work.

How many careers have you supported? How many products did you conceive and design that transformed an industry? How many families were fed and clothed by wages from your companies? I doubt you’ve done as much good for as many people in your whole life as Mo Ibrahim did in a day at the office. Now he’s off working to transform political culture in Africa.

[jackblemming]

My friend you need to get a grip. Mo Ibrahim employs people because he makes money off of them; not because he's a saint. Your phrasing makes it sound like Walmart employees should be licking the Walmart brothers boots for the opportunity to make them money.

Billionaires become billionaires by setting up systems and collecting rent. That's it. Whether that's good or bad is a different topic.

[simonh]

All I'm saying is that a system without leaders that have creativity and vision would be a poor thing. Ultimately the question is, who should be in charge of allocating resources. There's a major role for government but I think largely, but not exclusively, it should be private citizens that have demonstrated their ability to start and run businesses and create jobs and products. If you think it should be someone else, you're free to suggest an alternative.

[temac]

You don't need billions to be a private leader. Or you shouldn't.

[simonh]

You need billions to invest billions. For the most part those billions aren't piles of cash, they are the market value of shares in the companies they own and operate. To take that away from them, you'd be taking away control of those companies. Who are you going to give that control to instead?

[aaaaaaaaata]

Depends on the system.