Tag Archives: billionaire

Billionaires Buying Things

Around two years ago, I got banned from Twitter. It was over a response to Laura Ingraham, a vile racist Nazi on Twitter. So yeah, I don’t mind being permanently banned on Twitter fighting the Nazis. I used to be a heavy Twitter user. And since I stopped using Twitter, I’m less stressed about the news, etc. I no longer have this useless need for one-upping strangers on the Internet. With Twitter out of my life, I focused more attention on Reddit, which I find more populated with people who are constructive and are actually interested in conversation, instead of Twitter where people seem to be more concerned about burning other people.

Now Elon Musk has bought Twitter. I never liked the man. I find him obnoxious and for lack of a better word, “corny.” He’s trying too hard to be Tony Stark, an obnoxious fictional character that only works via the nebulous deus ex machina of his genius and technology in general. “What seems like magic is actually nanobots. Plot hole filled!” Anyway, for a man who is the richest in the planet, Musk tries too hard to insert himself into our lives. A group of boys are trapped in a cave in Thailand, he sends a useless submarine. He asks the UN for a plan to solve world hunger. They give him said plan, but he doesn’t act on it and pretends he never offered to finance their plans in the first place. He gets into a dick-measuring contest with other obnoxious billionaires in their race for space (when the planet is literally dying). But my favorite is him evangelizing his idea of the Hyperloop in order to solve traffic problems. Years later and many companies involved in the idea, it has eventually materialized into nothing but tunnels, absolutely normal non-special tunnels.

My biggest problem with him is how he panders to the worst people on the Internet. The Joe Rogans, alpha males, conspiracy theorists, crypto bros, etc. His idea of free speech is for everyone to be able to say anything they want, no matter how vile or how dangerous it could be, except if it affects him. Just a couple of days into acquiring Twitter, he’s already unleashed one of the two female executives on Twitter to his horde of trolls. Maybe it’s creative termination or maybe it’s just his nature to be vile. But as one ex-Twitter CEO replied, “Bullying is not leadership.” He is a good salesman and a good hype man. Tesla ran for years without making any profit based on his promises, but it’s also been revealed that the company fosters a very misogynistic, racist, and hostile work environment.

When Peter Thiel, another billionaire, managed to get rid of Gawker, a media company that displeased him using a lawsuit and Hulk Hogan’s sex tape, it didn’t feel right to me. I felt it was the beginning of billionaires using their wealth willy-nilly to acquire or destroy companies and significantly affect people’s lives. Rupert Murdoch has been manipulating the public with his media empire for years, but when Peter Thiel got rid of Gawker, it showed that monumental changes can happen significantly faster via the tyranny of capitalism. And now that Elon Musk bought Twitter, he can use it to attack his enemies, gain more cultish followers, and boost his stock with his tweets, something that he’s done before in the past.

It’s the wild west now. What if Jeff Bezos just suddenly bought NBC and made it shill for Amazon non-stop? He already bought the Washington Post. And while the paper hasn’t really changed much since its acquisition, who knows how many Amazon stories they decided not to run since being bought by Bezos?

What bothers me also is that for the amount that Musk paid for Twitter, he could’ve used that money to help finance world hunger programs that he was previously talking about with the UN. He could’ve used that money to make college education free in the US. There are so much good that could be done by these billionaires’ money. Instead, Musk is using it to flex during his mid-life crisis.

As much as I don’t mind Warren Buffet and find him charming, there really isn’t anything good about being a billionaire. It is basically a person accumulating too much wealth to the detriment of everyone else. Sure, they might not be doing it maliciously, but by the amount of taxes they are not taxed alone, they are by definition taking more than they deserve and contributing less to society than the average person. When an average person pays their taxes, they literally gave away a bigger proportion of their wealth and effort more than any of the billionaires. Maybe they are not creating jobs, but they’re certainly working as the tiny cogs that make every day life work.

Billionaires should be illegal. They shouldn’t be allowed to exist. What is their point other than abusing their wealth?

For the past ten years, Twitter, despite its valuation, has struggled to make a profit. I’m not too optimistic about its future with Musk at the helm. Tesla has also struggled to make a profit for years. And I believe to this day, the company has not made a profit from selling cars. Instead, it’s made a profit by selling its regulatory credits to other companies. So yeah, I can’t wait for Twitter to become the next Myspace. Or be like Facebook, currently pushing a virtual reality world that most people won’t be embracing.

BTW, by Tesla selling regulatory credits and running on electricity that most probably was generated by fossil fuels, doesn’t that make everything a wash? Doesn’t that make going electric ultimately more wasteful than sticking with internal combustion vehicles, especially with electric vehicles needing more rare metals and requiring its batteries, which cannot be recycled, to be replaced every now and then? Internal combustion vehicles have a longer lifespan and require less rare metals. They won’t be subject to rapid technological cycles and be frequently outdated compared to electronic products and thus won’t generate as much physical waste. I believe that the future is electric vehicles, but as they are right now, they are doing worse for the environment than internal combustion vehicles. The cars and their batteries are not as efficient as they could be, and current internal combustion vehicles are running on the most efficient engines at the moment. The internal combustion car you are driving right now isn’t the same gas guzzler from the 60s. It is far cleaner and more reliable. And at the end of the day, you can drive it longer than your rich neighbor’s Tesla or Chevy Bolt.

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