Hacker News
points by dyauspitr 1 day ago | 0 comments
I’m a little more nuanced on this. I personally think paradigm shifting changes come from having insane capital and being able to fund those large scale changes (and it’s not just the US. That’s literally how east Asia developed their economy. The analog for very rich people was the state in China and India is basically currently following the same model as the other Asian countries). Only billionaires or very large corporations have that sort of capital. All of that to say we definitely need very rich people in society but at the same time you cannot have one person literally have more wealth than 50% of the country that is insane. There needs to be some limit maybe 100 billion or 200 billion is all you can have or something like that something that literally applies to 10 people
[–] joquarky 1 day ago
I think we've had quite enough paradigm shifting changes recently to the point that we no longer need financial incentives to keep these changes happening.

Perhaps companies should be required to diversify their set of investors as they grow so that no individual investors have anything approaching a plurality.

Hacker News