Why are billionaires not as innovative as they once were?

August 25, 2017 3:38 PM

Disclaimer : Please correct me if I am wrong because I may be wrongfully shaming people if I were indeed wrong. For instance, Bill Gates successfully privatized what was once a public good, namely, software. Although I'm not disputing the fact that the MS-DOS and Windows software were immensely well-made software that were several steps ahead of other operating platforms, they would have been freeware had they not been privatized! Facebook was not an innovation per se; it was a smart incorporation of advertising with social networking. Apple's success was in a good amalgamation of existing technology instead of the creation of new technology. Google did innovate in terms of the search engine and Youtube so Google might be an exception. Elon Musk created the self-driving car, so that is indeed an innovation. So not all billionaires have contributed to the world. Not to speak of leftists like Michael Moore or Slavoj Zizek who argue that it is the legal and social system, that has enabled a billionaire class to emerge disproportional to the ability to innovate and contribute to the world. Michael Moore gives the example of Dr. Jonas Salk. So I'm no leftist, but what is this phenomenon? Is this the failure of capitalism? Or just the end-result of some historical events?
posted by red_alert_3 to Society & Culture (1 answer total)

I'm not disputing the fact that the MS-DOS and Windows software were immensely well-made software
This is the software equivalent of saying I'm not disputing the fact the Jesus Christ is the one and only savior.
posted by allelopath at 3:49 PM on August 25, 2017 [1 favorite]