Comments on Getting to Ten Times Better by Chip Daniels

If that's true, then what's wrong with establishing a cap on maximum inheritance since most of them won't keep it anyway?

Which is why I often harp on the rules and structures such as IP and inheritance which are such big drivers of wealth accumulation.

We, collectively as a society, just accept the continual expansion and prolongation of IP out into eternity, and we just accept inherited wealth.
But there isn't any reason to do so, or at least, not without a robust challenge.

We also just accept the corporate form of business and forget that it was created to benefit society. We could, with a stroke of the pen, pass a law that the corporate form of business will only be legally recognized if it conforms to certain provisions such as profit sharing and caps on its maximum size.

But that's just the thing, is that Jeff Bezos DIDN'T do the thing that changes your life every day.

Like most entrepreneurs he had a few very bright insights that made his company successful where others failed.

But almost from the start, the actual work and innovation and bright ideas which followed weren't from Bezos, but from his employees. He doesn't actually "run" the company any more, he couldn't possibly. What he does is manage a small team of executives, who then manage a larger team of managers, who actually run the company.

Like most billionaires, his wealth is not from a voluntary exchange of labor for capital. Most often, the bulk of the wealth is from ownership share in the company.

That is to say, its the legal structure which protects the copyright and patents which drives the accumulation of wealth. This isn't to say they are necessarily unjust.

Just that the pile of wealth didn't arise as the compensation for 1,000,000,000X employee.

The amount of wealth that can be accumulated through labor and skill alone is never enough to be vaulted above maybe a few millions.

At some point, the power of finance and politics themselves become the driver of the accumulation.