SneerClub

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Hurling ordure at the TREACLES, especially those closely related to LessWrong.

AI-Industrial-Complex grift is fine as long as it sufficiently relates to the AI doom from the TREACLES. (Though TechTakes may be more suitable.)

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[Especially don't debate the race scientists, if any sneak in - we ban and delete them as unsuitable for the server.]

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The Psychology Behind Tech Billionaires (www.rollingstone.com)

submitted 3 days ago* (last edited 3 days ago) by BlueMonday1984@awful.systems to c/sneerclub@awful.systems

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New Rolling Stone piece from Alex Morris, focusing heavily on our very good friends and the tech billionaires they're buddies with.

(Also, that's a pretty clever alternate title)

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[–] YourNetworkIsHaunted@awful.systems 6 points 2 days ago

Longer read than I had realized but worth every word. Very well done.

In other words, we may eventually reach a sort of wealth singularity, a point when the wealth of a few grows so exponentially that it basically reaches the point of infinity.

I actually question whether or not this has already happened. The wealthy already have access to enough money that they don't actually need to sell assets - to give anything up - in order to get credit. Just taking away Elon's money doesn't make him stop being Elon. It doesn't take away his connections, his charisma, his loyal follower base, etc. Even if he did get taken down in court any financial consequence wouldn't actually hurt his power base nearly as much as the reputational shift (see also Orange Man). Their net worth may not be literally infinite, but I can't think of any additional power or prestige they could command if it was.