this post was submitted on 21 Mar 2024
1346 points (97.9% liked)
Technology
59656 readers
3456 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
This is basically the crux why capitalism is inherently unfair, anti-democratic, and does not distribute wealth based on value in any way shape or form.
This tool is only paid such a figure because he was a member of the founding group, and continued to hold on for 15+ years. He may have been pivotal to their success, or he may have been an idiot that held them back for 15 years. Either way, after the initial x number of years, and y number of employees get involved, whatever value he provided is gradually diluted by the pool of employees. In the case of Reddit this effect is multiplied, as the mods and users have generated 99% of the sites value for the majority of its existence. They could have added zero features for the last decade; just focused on engineering problems to do with scaling, and the site would've prospered.
None of this matters to capitalism, as it distributes wealth (value) based on a range of convoluted claims to contracts and ownership, designed to overwhelmingly bias pre-existing capital; people who were born first, the luckiest, whose ancestors were the most cutthroat and ruthless (e.g. monarchs, lords, landowners, the church). It doesn't have anything to do with actual value to society, or even within a specific business.
You can just say by power, it distributed wealth based on who holds the most power/leverage.