Balaji Srinivasan: Wealth heirs adopt socialism to gain status and stifle competition
Balaji Srinivasan · Balaji Srinivasan: The Network State · Apr 5, 2022 · at 2:01:32
Investor Balaji Srinivasan shares his perspective on generational wealth and social dynamics with Shane Parrish on The Knowledge Project.
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“A lot of them actually fall into socialism because they didn't work for their money. Right. Their life experience is that every, they were just born rich and other people were born poor. And it's just like a, you know, so then also there's another aspect, which is the guys who are working to become rich. These people who are born rich, they have money, but they don't have a status, but if they advocate for socialism, they can gain status and also kind of cut off these nouveau riche guys. So while they think they're doing good for the poor, they're actually cutting off competition by the future rich by advocating for Various kinds of socialist things.”
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