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It Was a Bad Week for Billionaires With Delusions of Saving the World
Summary
The article discusses how four American billionaires have recently damaged their reputations by acting in ways that contradict their public images. Elon Musk has been criticized for his management of Twitter, while Jeff Bezos has been accused of being more interested in preserving his own power than in helping others. Sam Bankman-Fried has been accused of misleading people about the ethical nature of his cryptocurrency business, while Donald Trump is facing backlash after a series of failed endorsements in the midterm elections. The author argues that these billionaires are not actually interested in helping the world, but are only concerned with maintaining their own power.
Q&As
Who wrote the article?
Anand Giridharadas wrote the article.
What is the main point of the article?
The main point of the article is that billionaires are not actually benevolent and often do more harm than good.
What are some of the specific examples the author gives of billionaire behavior?
The author gives examples of billionaire behavior such as Elon Musk's tweets, Jeff Bezos's philanthropy, and Sam Bankman-Fried's crypto currency.
How do billionaires benefit from philanthropy?
Billionaires benefit from philanthropy by gaining tax breaks, burnishing their reputation, and increasing their power.
What is the most dangerous pretension of billionaires, according to the author?
The most dangerous pretension of billionaires is that they are the only ones who can save us.
AI Comments
👍 It is a commendable sacrifice on their part, because billionaires, remember, exist at our collective pleasure.
👎 Anand Giridharadas is the author of "Winners Take All: The Elite Charade of Changing the World" and other books.
AI Discussion
Me: It's about how billionaires are not actually as benevolent as they claim to be.
Friend: That's interesting. I didn't know that.
Me: Yeah. I thought it was an interesting perspective.
Friend: Yeah. I can see how that could be true. I mean, if they're so wealthy, why do they need to keep making more money?
Me: Exactly. And it's not just that they're making more money. It's how they're making that money.
Friend: Yeah. I can see how that could be a problem.
Action items
- Speak out against the myths of billionaire benevolence.
- Advocate for policies that would make it harder for anyone to amass such wealth.
- Support candidates and causes that are committed to fighting inequality.
Technical terms
- Bajillionaires
- a portmanteau of "billionaire" and "jillionaire", meaning an extremely wealthy person.
- Scaramucci
- Anthony Scaramucci, an American financier, entrepreneur, and political figure who briefly served as White House Communications Director in 2017.
- Truss
- a type of beam or girder characterized by its triangular shape, commonly used in construction.
- Eviscerated
- to remove something essential from something, typically leaving it weakened or destroyed.
- Philanthropy
- the practice of giving money and time to help make life better for other people.
- Herschel Walker
- Herschel Walker is a former professional American football player, a mixed martial artist, and a bobsledder.
- Drain the swamp
- a phrase used to describe various actions taken to eliminate corruption in government.