It's almost impossible to understand how rich Jeff Bezos is. This mind-blowing visualization not only helped me grok his immense wealth, it also made it clearer than ever that the country is owned by a tiny elite. Read the rest
Oops the proletariat did it again.
Britney's bluntly communistic instagram post is not her own original material; rather, it's a quote and image she stole from writer/artist Mimi Zhu, creator of the write 2 heal newsletter. It's surprising to see a pop star of her calibre suddenly sharing red roses, but in hindsight, "Toxic" was very clearly about the ills of capitalism, and we just didn't realize it at the time.
— Anand Giridharadas (@AnandWrites) January 31, 2020
I knew the ultra rich own almost all the wealth, but this video really drives the point home in a powerful way. I was shocked all over again. Read the rest
The Federal Reserve's just-published 2016 Survey of Consumer Finances reveals that income inequality is rising in the USA, with the top decile now controlling 77.1% of the nation's wealth; wealth that is increasingly retained through intergenerational bonds, meaning that wealth is apportioned by accident of birth rather than merit; and (unsurprisingly, given the foregoing), the browner you are, the less you have. Read the rest
For 5 years, we've been tracking the tribulations of billionaire Silicon Valley VC Vinod Khosla, a co-founder of Sun Microsystems who, in 2010, bought land adjacent to a public beach in Half-Moon Bay, south of San Francisco, and then fenced off the beach and hired private security guards to chase swimmers and sunbathers off the public land. Read the rest