Alan Weiss's The Uncomfortable Truth®

Wealth Misplaced?


Listen Later

I'm a capitalist. Socialism and the rest simply favor the few at the top, from Lenin to Hitler to Castro. Yet we do have too high a level of poverty.
In the face of this we are paying athletes tens of millions a year and hundreds of millions in contracts. Connor McGregor makes $180 million annually, Lionel Messi $130 million. Juan Soto, a good hitting but poor fielding right fielder has signed a $765 million contract with the New York Mets, which is about $60 million a year, more than a million dollars a week, and that's not counting endorsements, commercials, and other extra-curricular activities.
Entertainers make a fortune: Dwayne Johnson (the Rock) $88 million, Ryan Reynolds $100 million, Kevin Hart $100 million, Tom Cruise often $100 per picture. I don't doubt their talent, but I do question the proportions.
I've never believed that if you build one less aircraft carrier you could improve every school. Government doesn't use "pockets" of money. But I do suspect that most athletes and entertainers, proportionally, do not contribute to charities or their communities in greater percentages than average.
The same, of course, applies to business executives. Elon Musk (Tesla): His compensation reached $1.403 billion in 2023. Alexander Karp (Palantir Technologies): He earned $1.099 billion in 2023. Hock E. Tan (Broadcom): He received $767 million in 2023. Brian Armstrong (Coinbase Global): He earned $680 million in 2023.
I understand that these people bring fans into the athletic venues, into theaters and streaming services, and produce products and services that are needed. But unless you've founded a company, as did Fred Smith with FedEx, Steve Jobs with Apple, or Bill Gates with Microsoft, do you deserve $500 million when someone could lead it well for $50 million (or even $5 million)?
And then again, Harvard, of the huge tuition of about $60,000 per semester, also has an endowment of $53 billion. That is not an error or misprint.
Perhaps it's unfair to "blame" these people in any way, and the system has created a vibrant middle class over the years. As many of you do, I pay a large amount in taxes and I am highly philanthropic. But what of money to create an equal and high quality educational system? Or to create equal and high quality medical care for all citizens?
There is something wrong here.
I believe that none of us has the right to consume wealth or happiness without producing wealth and happiness for others. That's not socialism, not capitalism, that's humanity.
...more
View all episodesView all episodes
Download on the App Store

Alan Weiss's The Uncomfortable Truth®By Alan Weiss

  • 4.4
  • 4.4
  • 4.4
  • 4.4
  • 4.4

4.4

43 ratings


More shows like Alan Weiss's The Uncomfortable Truth®

View all
The Joe Rogan Experience by Joe Rogan

The Joe Rogan Experience

228,777 Listeners

The Tim Ferriss Show by Tim Ferriss: Bestselling Author, Human Guinea Pig

The Tim Ferriss Show

16,129 Listeners

The Knowledge Project by Shane Parrish

The Knowledge Project

2,682 Listeners

Sales Gravy: Jeb Blount by Jeb Blount

Sales Gravy: Jeb Blount

584 Listeners

The GaryVee Audio Experience by Gary Vaynerchuk

The GaryVee Audio Experience

16,827 Listeners

The a16z Show by Andreessen Horowitz

The a16z Show

1,092 Listeners

The StoryBrand Podcast by StoryBrand.com

The StoryBrand Podcast

1,930 Listeners

The Daily by The New York Times

The Daily

112,027 Listeners

The Game with Alex Hormozi by Alex Hormozi

The Game with Alex Hormozi

4,461 Listeners

Worklife with Adam Grant by TED

Worklife with Adam Grant

9,154 Listeners

My First Million by Hubspot Media

My First Million

2,647 Listeners

Think Fast Talk Smart: Communication Techniques by Matt Abrahams, Think Fast Talk Smart

Think Fast Talk Smart: Communication Techniques

786 Listeners

The Megyn Kelly Show by SiriusXM

The Megyn Kelly Show

40,361 Listeners

AT HOME with Byron Katie • The Work of Byron Katie® Podcast by Byron Katie International, Inc.

AT HOME with Byron Katie • The Work of Byron Katie® Podcast

906 Listeners

Pulling The Thread with Elise Loehnen by Elise Loehnen

Pulling The Thread with Elise Loehnen

1,095 Listeners