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Essentially, the power of money grows exponentially. A well-off tech person earning a few hundred thousand dollars per year has the financial power equivalent t

Essentially, the power of money grows exponentially. A well-off tech person earning a few hundred thousand dollars per year has the financial power equivalent to dozens of minimum wage people. I agree that we’re now at the point where there is so much money at the top that the power imbalance is too influential to be ignored. A few decades ago, the number of wealthy people was so small and their reach so short that it was unlikely the average person would experience any of their influence… nowadays, every block has someone wealthy enough to be buying up property with borrowed money to turn it into an airbnb. The influence of money today has permeated every aspect of our lives. And we, as well off tech people, are partly to blame.

MuffinFlavored 4y ago
> I agree that we’re now at the point where there is so much money at the top that the power imbalance is too influential to be ignored. Would you agree if I said the problem isn't really the billionaires when it comes to why middle class hard working people can't afford a single family house, but instead it's people making $200k/yr+?
- phphphphp 4y ago
  I think the most direct responsibility for the community level impact is with the people earning $200k+ who are irresponsibly exercising the power that income brings. For example, it’s so common for families making good money to do things like buy investment properties in their local community… which is growing their wealth at the expense of their community. However, the reason we are all able to earn so much is due to the ruthless pursuit of capital further up the market. The only reason we are able to earn so much is because billionaire business people decided that the best way to maximise their company value was to take the not-innovative option and pay lots of people huge amounts of money.
  - MuffinFlavored 4y ago
    > I think the most direct responsibility for the community level impact is with the people earning $200k+ who are irresponsibly exercising the power that income brings. I think irresponsible is probably a poor word choice here (in my opinion) just because it leads my mind to think the assumption "why aren't they entitled to spend the money they earned the way they want to" But instead of splitting hairs there, I'd be more curious to potentially partner with you in the effort to accurately determine whether the effects of the group we are specifically discussing are actually having a sizable impact in "harming" (preventing) the groups below them from being able to purchase a house

MuffinFlavored 4y ago

> I agree that we’re now at the point where there is so much money at the top that the power imbalance is too influential to be ignored. Would you agree if I said the problem isn't really the billionaires when it comes to why middle class hard working people can't afford a single family house, but instead it's people making $200k/yr+?

phphphphp 4y ago
I think the most direct responsibility for the community level impact is with the people earning $200k+ who are irresponsibly exercising the power that income brings. For example, it’s so common for families making good money to do things like buy investment properties in their local community… which is growing their wealth at the expense of their community. However, the reason we are all able to earn so much is due to the ruthless pursuit of capital further up the market. The only reason we are able to earn so much is because billionaire business people decided that the best way to maximise their company value was to take the not-innovative option and pay lots of people huge amounts of money.
- MuffinFlavored 4y ago
  > I think the most direct responsibility for the community level impact is with the people earning $200k+ who are irresponsibly exercising the power that income brings. I think irresponsible is probably a poor word choice here (in my opinion) just because it leads my mind to think the assumption "why aren't they entitled to spend the money they earned the way they want to" But instead of splitting hairs there, I'd be more curious to potentially partner with you in the effort to accurately determine whether the effects of the group we are specifically discussing are actually having a sizable impact in "harming" (preventing) the groups below them from being able to purchase a house