defector-com-8wrecr.txt (27749B)
1 [1]Skip to Content 2 [2]Defector home 3 [3]Defector home 4 [4]Subscribe[5]Log In 5 [6][ ] 6 Menu 7 [9][ ]Search 8 Search 9 • [11]Crosswords 10 • [12]NFL 11 • [13]MLB 12 • [14]NBA 13 • [15]Soccer 14 • [16]Tennis 15 • [17]NHL 16 • [18]Podcasts 17 • [19]Arts And Culture 18 • [20]Politics 19 20 • [21]About Us 21 • [22]Send Us A Tip (News) 22 • [23]Send Us A Tip ($) 23 • [24]Merch Shop 24 • [25]How To Pitch Defector 25 • [26]How To Comment On Defector 26 • [27]Defector Freelancer Policies, Created In Partnership With The National 27 Writers Union 28 • [28]Crossword Submission Guidelines 29 • [29]Masthead 30 • [30]Defector Hall of Fame 31 32 [31]Log In[32]Subscribe 33 34 • [33]Defector X (formerly Twitter) 35 • [34]Defector Twitch 36 • [35]Defector Bluesky 37 38 [36]Politics 39 40 The Limits Of The Billionaire Imagination Are Everyone’s Problem 41 42 [37][Vic] 43 By [38]David Roth 44 45 3:46 PM EDT on March 24, 2023 46 47 • [39]Share on Bluesky 48 • [40]Share on X (formerly Twitter) 49 • [41]Share on Reddit 50 • [42]Share on Facebook 51 • [43]Share on WhatsApp 52 53 Silicon Valley entrepreneur Marc Andreessen onstage at the TechCrunch Disrupt 54 festival in 2016.Steve Jennings/Getty Images for TechCrunch 55 [44] 56 309Comments 57 58 There's no good reason to think about what I would do if I was rich enough to 59 own a magazine, and a number of better and much more urgent reasons not to 60 think about it at all. The most obvious of those is that while I am not rich, I 61 already sort of own [45]something that is sort of like that, and so there is 62 usually something I could be doing there that's more useful than musing over 63 what I might might do as, say, the gentleman publisher of a small literary 64 journal called The Peppermill Review or Frontispiece or a political quarterly 65 named Publius or I guess Frontispiece could also work here. But there's another 66 reason not to bother with this particular daydream, which is that being that 67 rich would seem to render the idea moot. 68 69 I am just going by what I see, here. The people in our culture with enough 70 money to do whatever they want—the sort of objectively immoral benefactor-grade 71 wealth that is currently warping and cheapening our public life through its own 72 obscene scope and its owners' relentless craven self-interest—seem 73 categorically opposed to doing anything interesting with it. Or, anyway, they 74 seem opposed to doing anything more interesting than watching that money grow 75 and maybe remarking upon how that experience of all that having and watching 76 has been for them. It may be that all that dull abundance has flooded their 77 circuits, leaving them incapable not just of wanting anything but more of what 78 they already have, but unable even to imagine anything else that a person might 79 want. They also just might not care about anything but each other, and their 80 stuff. Because these people and what they want are so determinedly 81 uninteresting, it's not a very interesting question; because what they do is so 82 strange, it's natural to wonder if maybe all that money, and all the time spent 83 thinking about it, hasn't been good for them. 84 85 In a non-material sense, I mean. Materially they are doing great, and the 86 liberating civic atrophy that was the goal of their rich-guy forebears—the 87 seething gray men gone by who [46]spent their money creating and promoting the 88 incoherent, prissy-vicious, intermittently libertarian politics to which this 89 class mostly subscribes—has softened not just the state but the broader culture 90 into something that can only glancingly inconvenience them. The "not good for 91 them" part is the way in which all that ease and all those eager supplicants, 92 the warm bath of clubby gossip and passive income in which they've all gone 93 pruney, has shrunken and shortened them. They prosper and prosper and [47]speak 94 bitterly about how unappreciated they are, but they seem somehow incomplete. 95 It's as if the money had crowded something important out. 96 97 They keep busy. Generally they pass their money around the rich person 98 community in various ways—investments, patronage, lawsuits, alimony, [48]weird 99 political stunts—and sometimes spend some on lobbying designed to guarantee 100 that nothing they or their businesses do will ever become more inconvenient or 101 subject to public scrutiny. Even when and where this bustling uselessness 102 produces something the broader public could notionally use—a big building with 103 a rich person's name on it in big letters, say—there isn't really much mystery 104 to why. The answer is already right there to read, in big letters. 105 106 This super-class's singular drive to preserve and affirm a status quo that 107 doesn't serve anyone but themselves speaks for itself, and it is fucking always 108 talking. You can look at a wary and confused culture overrun by financialized 109 rot and recursive grievance and raw sadism, and at a politics mostly concerned 110 with managing that miserable status quo while maintaining the maximum in 111 Punishment Capacity. And then you can look at the objectively mediocre and 112 preposterously wealthy people so anxiously and imperiously presiding over it, 113 and venture a pretty confident guess about the effects of letting the broader 114 culture not just soak in all that stagnant wealth but move mostly according to 115 whatever currents periodically stir its surface. 116 117 This is where inequality and the politics it's bought becomes not an 118 abstraction but a fact of daily life. That this class does not really make or 119 do anything—or make anything but a nine percent annual return every year, or do 120 anything but congratulate itself and groan about how unfair its critics are—is 121 everyone's problem, because those idle demands made on high arrive downhill, 122 onto the rest of us, as an avalanche. Or, less metaphorically, as layoffs, and 123 austerity, and ever more optimized and anti-human efficiencies, and a 124 claustrophobic and airless culture being squashed flat by their algorithms and 125 incuriosity. If this class had less power, the obvious limits of their 126 imagination would mostly be their problem; because they have so much, those 127 limits wind up imposed on everyone else. We are all [49]trapped in there, with 128 them. 129 130 ━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━ 131 132 Because these extremely rich people mostly just talk to each other, and because 133 they mostly have the sort of bad ideas that a person might have if the only 134 people they knew also hung out in Marc Andreessen's Twitter mentions all day 135 saying "absolutely" and "indeed," their big ideas lately tend to register 136 mostly as abstractions when they register at all. "The average person’s life is 137 changed when the things they do each day are both faster and better," [50]Ed 138 Zitron wrote in his newsletter, "and it’s hard to point to products that have 139 meaningfully done that in quite some time." The money still moves, but it's 140 hard to say to what end. Sometimes one of these entities invests in another 141 one, or consumes it. Sometimes a half-dozen nearly identical companies show up 142 promising to have a man on a bike bring you a pint of ice cream at any time of 143 day, in 10 minutes, or eight, or six, and then a few months later they are all 144 gone. 145 146 It is important, if also pretty funny, to remember that the very rich people 147 doing all this stuff believe that they are shaping the future by doing it. 148 Normal people just, like, work and consume and live wherever they live and do 149 whatever it is they do, while at the same time 300 men in fleece vests push 150 history forward in world-historically wack Slack channels or by writing things 151 like "Web 4?" on dry-erase boards. When the people ruling this moment dare to 152 imagine what the next might be like, the result is almost poignant in its 153 childish shabbiness—a colony on another planet for them to rule; a new type of 154 money [51]for them to have; a wholly digital world in which they could charge 155 rent and [52]convene meetings or, when the rest of humanity [53]decided that 156 didn't sound cool at all, a future in which a predictive text generator they 157 have deemed artificial intelligence, an algorithm somehow trained to [54]get 158 upset and [55]botch easy logic questions, could efficiently obviate all those 159 messy and inefficient and disagreeable other people. Of course there's [56]no 160 real art in that future, although the rich men plowing millions of dollars into 161 [57]grimly de-aging their bodies so they can be rich forever suggests that 162 David Cronenberg's work might at least survive in spirit. 163 164 It is axiomatic that these people get bored extremely easily. They are panicky 165 and fad-prone and gossipy and move as a herd; the billionaires who see 166 themselves as anointed change-makers and shapers of the world to come get upset 167 about the same fake-o bullshit that keeps Fox News casualties indoors on sunny 168 days. The billionaire venture capitalist with a bugout compound in New Zealand 169 and a portfolio of future-shaping disruptions grouses in private about Critical 170 Race Theory In The Schools and shoplifters at Walgreens in cities in which they 171 do not live, but they naturally prefer more richly marbled fare. Their [58]pet 172 intellectuals tell them that they are being robbed by the masses and deserve to 173 live as kings; their [59]chosen political candidates say it, too. Some of them 174 have lately become concerned that the predictive text generator they like is 175 [60]politically biased against them. These people talk (and talk, and talk) 176 online in more or less the same register as the average Cobra Commander 177 monologue. If there is anything useful about their discourse, it has less to do 178 with the substance than the shape of it; both are [61]absolutely off-the-rack 179 conservative rich person lorem ipsum stuff, and profoundly grating and dull as 180 such, but the familiarity is instructive. 181 182 Recently, an influential corner of this cohort [62]caused a bank run by 183 abruptly pulling their money from the one bank at which, implausibly, all of 184 them seemed to do all their business. When the bank collapsed, they took turns 185 posting that its collapse was an extinction-level threat to the nation's 186 economy, and a national security issue, and perhaps also a threat to the planet 187 itself. The bank was [63]a self-dealing mess, as it turns out, but so was the 188 community it served. All of them plainly regarded [64]both the best practices 189 and the literal laws that govern this kind of thing as nothing they'd have to 190 worry about. Some of this is hubris, and some of this is just assessing how the 191 reality they've purchased actually works. They're awful, but they're not really 192 wrong. Of course they were bailed out. 193 194 The story of that bank run is already in its woozy afterlife. Some other wobbly 195 and variously shitty banks were absorbed into bigger banks; those tended to be 196 both highly exposed to the things this super-class likes (cryptocurrency, most 197 notably) and dedicated to servicing their weird whims. Fox News started blaming 198 those failures on woke-ism and then just moved on to other outrages; there were 199 briefly [65]vague intimations of potential legislative fixes to the stupid laws 200 that made the collapse possible; there are lingering questions, none of which 201 seem likely to be answered anytime soon, about why, as one Silicon Valley 202 investor put it, all these extremely powerful and influential venture 203 capitalists were "letting all of their companies put all of their money in 204 one—I mean, best case—[66]C-minus financial institution." 205 206 There has been kind of a lot of this lately: crises that don't quite resolve 207 into crises, things that are clearly bad but somehow not in ways that 208 necessarily lead to any learning or change. So much depends upon things staying 209 more or less the same, and things generally do. Again, this reality was 210 purchased, at a surprisingly low price and over the course of just a few 211 generations, by the class of heedless and wildly distractible dunces that it 212 keeps on absolving. It would be much easier to appreciate the low satire of all 213 it if everyone wasn't living not so much with as within the consequences of it. 214 215 It's not just about so few people having so much of everything, although that 216 is plenty odious and offensive on its merits. The problem, as it is experienced 217 moment by moment and day by day, is how little they have done with it, and how 218 little what they have done with it has done for everyone else. That inequality, 219 when compounded over time and amplified by the cretinous and absolutely joyless 220 mediocrity of the people in whose accounts that compounding gets done, winds up 221 not just freezing the world in place, but shrinking it to the size of their own 222 incuriosity. Sometimes this is more obvious than others—a billionaire buys and 223 closes [67]a publication about books; a Koch scion with literary ambitions gets 224 bored with her literary journal, scuppers it, and is treated to a strange 225 feature in the New York Times about [68]her pivot to wellness. Mostly it 226 reveals itself in the negative; squint and you can almost see the possibilities 227 that might have happened, but didn't, trailing in the wake of the useless 228 things they launch as those innovations describe their familiar course up and 229 then down. 230 231 There's more than one obvious problem with this, but keeping all this wealth in 232 the same small and tremendously prideful network—in the same bank!—is grounded 233 in the idea that only the people who have all this power and influence would 234 know what to do with it. That belief has persisted within that community, and 235 to a distressing degree outside of it as well, despite what is by now copious 236 evidence that all this new elite really wants to do with that money is gamble 237 it amongst themselves and find new methods and venues to charge everyone else 238 rent. If these billionaires are correct in their perception that the general 239 public has increasingly had it with them, it's worth noting that some of that 240 is just a natural response to being insulted. How else, I wonder, did they 241 expect people to react upon being told that their betters saw them as so much 242 surplus, and their aspirations—the finer ones, and also just the basic 243 dignities that people naturally believe they deserve—as impracticalities, or 244 debris on the road ahead. 245 246 If this class seems about spent in its creative capacity, that is by no means 247 true of the rest of humanity. It is easy to see the conflict this creates: a 248 small group sitting atop a vast supply of resources, doing nothing much, and a 249 larger, striving group thinks about what better use that all might be put 250 toward. "Art means nothing if it simply decorates the dinner table of the power 251 which holds it hostage," the critic Adrienne Rich wrote, and [69]the 252 screenwriter Charlie Kaufman quoted at the Writers Guild of America Awards. He 253 was receiving a lifetime achievement award from the organization, but also 254 speaking as a member of a union [70]getting ready to strike. 255 256 Already a user?[71]Log in 257 258 Register to keep reading this blog. 259 260 Or, for a limited time, start a subscription for just $1.04! 261 262 [72][ ]Email 263 Register 264 [74]Click here for subscription options 265 266 If you liked this blog, please share it! Your referrals help Defector reach new 267 readers, and those new readers always get a few free blogs before encountering 268 our paywall. 269 270 • [76]Share on Bluesky 271 • [77]Share on X (formerly Twitter) 272 • [78]Share on Reddit 273 • [79]Share on Facebook 274 • [80]Share on WhatsApp 275 276 [81][Vic] 277 [82]David Roth[83]@david_j_roth 278 279 Editor. Co-host of The Distraction. 280 281 Read More: 282 283 • [84]Our Mediocre Elites, 284 • [85]Rich People Things, 285 • [86]silicon valley, 286 • [87]The App That Brings You Ice Cream, 287 • [88]The Future 288 289 Stay in touch 290 291 Sign up for our free newsletter 292 293 [89][ ]Email 294 Sign up 295 More from Defector 296 297 [91]NFL 298 [92] 299 300 Jets’ Quarterback Dysfunction Temporarily Overshadowed By Pass-Rusher 301 Dysfunction 302 303 [93]55Comments 304 [94][hea] 305 [95]Patrick Redford 306 August 12, 2024 307 [96]TAMPA, FLORIDA - SEPTEMBER 25: Haason Reddick #7 of the Philadelphia Eagles 308 warms up prior to a game against the Tampa Bay Buccaneers at Raymond James 309 Stadium on September 25, 2023 in Tampa, Florida. 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