Blue Origin rocket explosion: watch $150 million go boom

[Chrkeller]

curl-6 said:

Chrkeller said:

1) He wasn't born rich.  He put a lot of effort into building his wealth.  It wasn't handed to him.  

2) While I tend to agree that people don't need billions, the fact is your view is way too simplistic.  Most billionaires are not sitting on cash; they have loads of stocks.  Typically, SEC approval and board approval is required to sells massive amounts of stock, given a huge sell off would drive the company into ruin.  So, someone like Bezos isn't exactly hoarding, that isn't how stock works.  I agree there is a problem that should be fixed, but we should be fair on how the system works.   

10b5‑1 (might want to read up on it)  

85-90% of his wealth is Amazon stock, which he can't just unload.  

And major compensation changes, for a publicly traded company like Amazon, require Board oversight.  Bezos can't just do whatever he wants.

Again, I agree there is a problem, but it lies more with the system than the people, I see (no offense) too many people grossly oversimplifying how all this actually works. 

The view that Bezos could wave his hand and double salaries and has billions of cash he could give away...  none of that is true.   

It is a thorny issue, yes, but when you're the CEO, the buck ultimately stops with you when it comes to poor working conditions and wages.

You're absolutely right in that it's ultimately a problem with the system rather than any one individual, but when a tiny percentage of society have immense wealth while the majority struggle to get by, it's only natural people are going to get increasingly angry at the imbalance.

To put things in perspective, in 1965, a CEO made about 21 times more than a worker; nowadays a CEO makes nearly 300 times what a worker makes. So in just 60 years, the gap has ballooned by almost a factor of x15.

If this trajectory continues, we're at risk of reverting to an almost feudal society where the oligarchs at the top have absolute power and the other 98% live like serfs.

Well Bezos isn't the CEO...  hasnt been for a number of years.  

And yes, it is a problem.  Yes it needs to get fixed.

But the "tax" them argument reeks of not understanding the system.  

People really ought to educate themselves before forming such strong opinions.

The issue is how boards work and people getting paid in stock.

Again, it is about understanding the system.  Can't fix a problem unless we understand it.  I don't recall the exact quote, but Einstein said if the world was going to end in an hour he would spend 55 minutes understanding the problem and 5 minutes executing.

The amount of economic and legal inaccuracies i see on VG is mind blowing.

Last edited by Chrkeller - 8 hours ago