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Evening Tech Bits

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17. Re: Evening Tech Bits Sep 14, 2018, 22:02 Mr. Tact
 
Okay, first of all we are talking about net worth, not income. If you are making $100k a year, unless you have a large family you are supporting or you are a total clown, your net worth is significantly more than $100k.

I really can't figure you out Cutter. Half the time you are reasonable, occasionally even logical -- but the other half you just spout nonsense. I've admitted to being ignorant on multiple subjects here on this board. But this is much more of a subjective issue here, nothing to be ignorant about. Yeah, he is rich. Yeah, he could afford to give more. Yeah, he might have done it to create good press. None of that makes it reasonable to criticize him for creating a $2B charitable fund. Especially if you aren't letting loose of a relative amount yourself.

This comment was edited on Sep 14, 2018, 23:00.
 
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16. removed Sep 14, 2018, 21:19 Cutter
 
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This comment was deleted on Sep 15, 2018, 11:51.
 
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15. Re: Evening Tech Bits Sep 14, 2018, 11:51 Mr. Tact
 
Look, I don't think the guy is a saint. And as I said, it is possible a major reason he finally got around to setting up a philanthropy fund was to get some good press. Unless he confesses to that fact, we'll never know for sure. But criticizing him for creating the fund seems unnecessary.

And the mythical $163k person would need to spend $2,037 for equivalency.
 
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14. Re: Evening Tech Bits Sep 14, 2018, 11:16 Beamer
 
Mr. Tact wrote on Sep 14, 2018, 11:07:
The 2018 Fortune list had 2,208 billionaires.

And one man sits atop them by a very wide margin.
One man we're discussing here because he's making a contribution to defend against accusations that he doesn't pay employees well enough.

If you have $163,000, and you give $1,250., that's not a lot, but it's substantial, as there's something you can't do because of it. Though it's really just buying airfare to Europe.

If you have 1,000,000 times that, then it's more money than you can spend. $2B is very literally inconsequential, in that there isn't a single repercussion from it. The guy with $163,000 giving $1,250 can't fly to Europe, or build a new PC. But Bezos? There's nothing he couldn't do prior that he can't do now. It doesn't even threaten to move his place on the list of wealthiest people, that's how far ahead he is.
 
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13. Re: Evening Tech Bits Sep 14, 2018, 11:07 Mr. Tact
 
The 2018 Fortune list had 2,208 billionaires.  
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12. Re: Evening Tech Bits Sep 14, 2018, 11:04 Beamer
 
Mr. Tact wrote on Sep 14, 2018, 11:02:
It would be interesting to see/know how much philanthropy has been done by everyone with a net worth over $1B. I'm guessing those numbers would be highly disappointing, but I'd be happy to be wrong.

He hasn't signed this, though 14 others have.
 
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11. Re: Evening Tech Bits Sep 14, 2018, 11:02 Mr. Tact
 
Yes, it is all relative, that was my point. Something to remember is that $163B is stock. If some kind of catastrophe happened tomorrow, $40B or more of that could disappear in a flash.

Is Bezos looking for good press? Maybe. Even if he wasn't, some people would think that. And remember, charities don't exactly have stellar records concerning using money they receive as they should. So, giving away $2B even when you have $163B is not simple. I suspect the fund will get a lot more of Bezo's money as time goes on.

It would be interesting to see/know how much philanthropy has been done by everyone with a net worth over $1B. I'm guessing those numbers would be highly disappointing, but I'd be happy to be wrong.
 
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10. Re: Evening Tech Bits Sep 14, 2018, 10:45 Beamer
 
Mr. Tact wrote on Sep 14, 2018, 10:22:
You guys are awfully generous with someone else's money. I'd be pretty impressed with someone whose net worth was $100k, giving $1,250 to charity.

Yeah, but it is all relative, right? If you made $63B so far this year, and you give up $2B, you still have $61B that you've made this year, or as much as 1,220,000 average families of 4 will make all year. And, by the time the year is over, Bezos will likely be close to the $200B mark, or $100B in 2018 alone.

That $63B he's already made this year? That alone would put him in the top 14 wealthiest people on the planet, even without the $100B he already had.

All of this is kind of moot, though. My main reason for being bothered is that this feels less due to some kind of philanthropic desire, and more due to the wealth of incredibly negative news coming out about Amazon's treatment of its lowest end workers. That's what makes it ring hollow to me. Fix your business practices first. And I'm generally a defender of Amazon here, as I know them very intimately.
 
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9. Re: Evening Tech Bits Sep 14, 2018, 10:22 Mr. Tact
 
You guys are awfully generous with someone else's money. I'd be pretty impressed with someone whose net worth was $100k, giving $1,250 to charity.  
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8. Re: Evening Tech Bits Sep 14, 2018, 09:27 Beamer
 
If your household is worth $100,000, this is $1,250.


Count me in on the not too impressed side. It's something, sure, but it depends upon how it's being spent, and over what time period. Amazon does an enormous amount of very greedy things, and this is mostly Jeff spending 1% of his net worth to try to get ahead of some of that, while continuing to do the things that will assure he makes this $2B back between now and the end of the year, if it even takes that long.

Keep in mind, his net worth has increased $63B in 2018 YTD. He only crossed $100B on Black Friday of last year.
 
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7. Re: Evening Tech Bits Sep 14, 2018, 09:15 Mr. Tact
 
So, that's a 'no'?

Yes, he can afford to do that. I just don't see the point in criticizing someone for giving away $2B and a larger portion of his net worth than you are willing to give away.
 
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6. Re: Evening Tech Bits Sep 14, 2018, 01:52 jdreyer
 
Mr. Tact wrote on Sep 13, 2018, 23:33:
jdreyer wrote on Sep 13, 2018, 23:09:
Only $2B? The guy is worth $163B.
Calculate 1/80 of your net worth and tell us when the last time you gave that much to charity. I did, and the answer for me was I never have and it's unlikely I ever will.

You do realize that the percent argument is ridiculous. If he gave away 79/80ths of his money, he'd still have $2B to live on, which is more than you can reasonably spend in a lifetime.

Remember that Gates and Buffett gave something like 90% of their fortune's away to the Gates Foundation.
 
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5. Re: Evening Tech Bits Sep 13, 2018, 23:33 Mr. Tact
 
jdreyer wrote on Sep 13, 2018, 23:09:
Only $2B? The guy is worth $163B.
Calculate 1/80 of your net worth and tell us when the last time you gave that much to charity. I did, and the answer for me was I never have and it's unlikely I ever will.
 
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4. Re: Evening Tech Bits Sep 13, 2018, 23:09 jdreyer
 
Only $2B? The guy is worth $163B.  
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3. Re: Bezos fund Sep 13, 2018, 22:10 RedEye9
 
Bumpy wrote on Sep 13, 2018, 21:18:
Good for them for making a solid positive mark helping people.

I was hoping they would help preserve the planet instead but something is better than nothing.
Cook, Buffet, Gates to Bezos, at least these guys do the right thing with their billions.

Leave it to the billionaires in name only to have gold toilets and porn star mistresses.

 
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2. Re: Bezos fund Sep 13, 2018, 21:48 Cutter
 
Bumpy wrote on Sep 13, 2018, 21:18:
Good for them for making a solid positive mark helping people.

I was hoping they would help preserve the planet instead but something is better than nothing.

Fuck him and the horse he rode in on. It's a tax write off and nothing more. If he's such a good guy he can start paying his employees a living wage and full benefits. Any thing else is just PR bullshit.
 
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1. Bezos fund Sep 13, 2018, 21:18 Bumpy
 
Good for them for making a solid positive mark helping people.

I was hoping they would help preserve the planet instead but something is better than nothing.
 
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