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Providing value that you are able to price. Amazon was built on top of layers and layers of public goods that provide surplus value that Bezos and others are able to package into a product: postal services, roads, internet infrastructure, open source software, etc. Indeed, there should be many people on this forum that understand that providing value is a relatively small part of the problem (see: any of a host of heavily used open source projects), it’s the “spend money on” part of the execution that matters. The whole question then becomes, who actually created the value that is being paid for in this scenario? Certainly, Bezos created a company that did many innovative things and made the correct decisions for him to win out over his competition. However, the concept of an online store wasn’t really all that novel. Such a store would have been impossible to create in the 1970s, but suddenly it became so in the 90s and there were plenty of potential competitors popping up at the same time because external conditions made it possible. Additionally, because the entire concept was new, he didn’t have to compete with an existing behemoth like Amazon is today (though of course the incumbent physical retail giants of the time shouldn’t be downplayed, nonetheless, starting an online everything store today is a very different proposition). The issue isn’t “did Bezos create something novel and valuable”, but rather “how much value did he create, and how much did he just benefit from an existing pool of value waiting to be tapped, that was created by the rest of society”? To that end, it’s not a question of whether Bezos might “deserve” to be wealthy, but rather, how wealthy? The consistent framing, as illustrated by your comment, is that our capitalist system inherently gives just dues to those that create value, and is often accompanied by the line that taxing the rich is “punishing success”. But the countervailing point is that it is often the case that the very rich receive outsized gains as the benefit from common resources, and they ought to pay back into that public trust in due course as they have benefitted from it the most. |