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Hey tech billionaires, if you want to talk about radical change, let’s abolish venture capitalism (www.theguardian.com)

submitted 10 months ago by [email protected] to c/[email protected]

153 comments fedilink hide all child comments

Do you support sustainability, social responsibility, tech ethics, or trust and safety? Congratulations, you’re an enemy of progress. That’s according to the venture capitalist Marc Andreessen.

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[–] [email protected] 13 points 10 months ago (2 children)

Today's billionaires are yesterday's multimillionaires, and anyone with that much money has essentially endless weath.

[–] [email protected] 2 points 10 months ago (1 children)

For 10 million and up, you're exactly right.

But let's not forget that the vast majority of multimillionaires are a retiree, out there minding their own business spending down their 2 or 3 million in savings buying breakfast at senior discount restaurants and driving a three year old luxury sedan with heated seats, back to a forgettable house in the suburbs.

Retiring with a couple million dollars is becoming commonplace, and it's about the right number to retire with, in certain places, to leave almost nothing behind at death.

Being a multimillionaire is not "endless wealth".

We need the multimillionaires on our side if we're going to beat back the perversions perpetrated by the billionaires.

[–] [email protected] 6 points 10 months ago (1 children)

It was really important that you highlighted the fact that anyone who has somewhere between 2 million and 999 million is technically called a multimillionaire so you could go on about retirees on the extreme low end instead of the obvious use in the context as someone who has 10s or 100s of millions of dollars. Crucial information that was completely relevant and not a completely pointless side track.

Very important, good stuff. Keep up the good work.

[–] [email protected] -1 points 10 months ago

Words matter. You're using yours poorly.