Posted on 02/27/2014 6:55:51 AM PST by Aspenhuskerette
Last week, as Ukrainian emigre- turned-tech tycoon Jan Koum prepared to cash a multibillion-dollar check from Facebook — acquirer of his startup “WhatsApp” — Ukrainian President Viktor Yanukovich was checking out of his Gatsby-esque estate where he’d cached his stolen plunder.
That the two Ukrainians derived their riches under diametrically opposed systems — free enterprise versus banana republic — illustrates why all income inequalities are not created equal.
Most don’t resent the rich — only the undeservedly rich — as a recent Venezuelan protest sign conveyed: “These Castro-Chavistas speak like Marx, govern like Stalin, and live like Rockefeller, while the people suffer!”
Koum’s affluence springs from a free society in which everyone has a God-given right to go as far as their work and talent will take them. Yanukovich’s hijacked wealth is exploitative, depriving others of dignity, opportunity and economic mobility. One system disperses power as it champions an individual’s right to pursue happiness; the other concentrates it while stifling human potential.
There will always be a top 1 percent. The question is: Will they be hardworking and productive people whose value creation benefits society — think Steve Jobs and J.K. Rowling — or cronies living off perks extracted from the labor of the little people?
In America, we have increasing numbers of both, which is why we must Think Again before allowing policymakers to concentrate more power in the name of social justice. In fact, economic liberalization is the real cure.
(Excerpt) Read more at aspentimes.com ...
Though frankly I’d have to question how much Jan Koum really deserves his riches. He just found someone stupid enough to pay him $19 billion for some vaporware.
“These Castro-Chavistas speak like Marx, govern like Stalin, and live like Rockefeller, while the people suffer!”
Substitute Obama for Castro and that is what is going on here.
Good point, love the comment vaporware. It is all just an illusion as Douglass’s character Gekko says in Wall Street.
I saw a very revealing article that showed Facebook paid more for this vaporware company than the assessed value of 30 very well-known American companies with actual assets.
Bubble, bubble, toil and trouble.
Kind of reminds one of the Tulip bubble of the 1600’s in Holland.
There are the Dem rich and the evil GOP rich. Big difference.
Big government in the form of a mixed economy, combined with libtard egalitarian policies, result in croney capitalism and corruption. Government forceful intervention in the economy leads to privileges, favors, and pull for some, and restrictions and burdens for others. Usually, it is the high achievers who are punished, and the low achievers and non-achievers who are rewarded. The underachievers gain unearned and undeserved wealth. And the high achievers lose the incentive and the means to produce. This results in a decrease in total productive ability, which leads to a decrease in general prosperity and standard of living. A gain in undeserved wealth by the favored few,and a reduction in general prosperity of the masses naturally leads to in increase in the extremes of inequality.So, this is another example of libtard perversity of result.
One vapor ware guy pays another vapor ware guy...
I’m no fan of Zucky, but FB is on track to do about $5 bil in advert revenue this year. That’s way beyond the vaporware stage.
I'd say that that is true, however a large, vocal portion on the populace strongly resent those that have succeeded and have become wealthier via hard work.
Ever notice that the Left-O-Crats have no problems with celebs that make millions and really do nothing to "create" wealth & opportunity for others but go insane over business men that spend their lives developing business that employ hundreds or thousands ?
why is that? Perhaps because they are not "blessed" by the so called intelligentsia ?
But how did it get there? It had nothing, creating nothing, delivered nothing. Same thing, the newly acquired software is intended to penetrate further with that very same advertising that gives FB value.
It’s no different than television.
It’s producing eyeballs to view advertising.
As a matter of fact some of the significant decline in tv viewing is due to people spending time on social media.
You and I may view that as time wasted but a lot of folks don’t.
You and I may view that as time wasted but a lot of folks don’t
indeed. One of the reasons that I ditched tv - advertisements, I don't really make use of the social media unless I have a specific need/use.
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