Being honest is an investment in an honest society and a just future. Of course, the problem with being honest is that, as with any ideological conflict, those who volunteer for the front lines make the most sacrifices, and have to trust that the tide will someday turn in favor of their side, even though they may never see it happen. So there's a lot of "you go first" noise instead of active effort to walk the talk.
Nonetheless this trending fad of referring to any cost that has no obvious immediate benefit to the payer a tax is starting to outgrow the original, and usefully narrow, scope it once had.
It would be equally valid, semantically, (and I would argue more valid prescriptively) to observe that having to constantly verify at great expense what in an honest society you could you could otherwise trusted at nearly zero expense, is the more costly and pernicious "tax" on total human productivity.
I tend to assume (possibly without sufficiently compelling evidence, but I'm allowed to believe what I want) that anyone who's reached stratospheric wealth has done so by not walking away from some of those shady deals.
You may be right that "tax" is not a good metaphor.
> to observe that having to constantly verify at great expense what in an honest society you could you could otherwise trusted at nearly zero expense, is the more costly and pernicious "tax" on total human productivity.
I agree 1000%. The value of a society made of honest people is radically improved efficiency.
From experience this completely lines up with what I have seen, in my almost 40 year career. I've watched serial entrepreneurs to things I would never dream of. It was then I knew, I'd never be rich.
The only quibble I have with your idea: it's not just billionaires. Of course, there are more millionaires who are still honest, but the percentage compared to the non-millionaire working population is much lower.
When you own and run a business, you are constantly confronted with decisions that have a good and bad path. The bad path, for me, is when I answer "yes" to the question "will this make it harder for me to sleep well at night?" Those decisions came up so often early in my career. I pride myself on how well I sleep at night, but I'm not rich.
I'm not at all convinced that the rate gets higher. I'll go ahead and bet the opposite, that the cost of being honest represents a smaller fraction of your wealth as you have more.
Somewhat analogous to "fuck you money". If you badly need a job, you have to be silent about many issues.
Also, being extremely rich makes you a target for ambitious or activist prosecutors. Everything everywhere is securities fraud.[1][2] Whether you're hung out to dry or not is determined by how much your behavior has annoyed people in certain departments of the US government, or how much you've annoyed their friends.
1. https://www.bloomberg.com/opinion/articles/2019-06-26/everyt...
2. https://www.bloomberg.com/opinion/articles/2021-06-22/everyt...
https://internationalbusinessguide.org/trump-business-career...
Alex Jones got away with it for 20 years before his own hubris of not complying with the courts took him down a peg.
Tons of celebrities ran their own pump-and-dump cryptos and their reputations are doing just fine.
Rich people just grift differently imo.
I don’t think Yvon Chouinard is a liar though, for example.
You can be brutally honest and immoral at the same time. Not leaving a note for scratching a parked car is being immoral to someone.
Morality doesn't get you up the ladder because there are certain hard decisions you need to make. You may argue that dishonesty can take you up. I think dishonesty can only take you so far. It definitely can't get you to become someone like Musk.
He is brutally honest when it benefits him. But he is completely willing to lie when it suits him. See:
https://elonsbrokenpromises.com/
Or search for "Musk broken promise" or "Musk failed prediction" to see many other examples. You might argue that, "Well, he honestly intended these things to pass." But at his level of power, I believe there is a moral obligation to be reliable in one's public predictions.
The richer you are, the more leverage you have and larger the material cost for these situations. A fellow rich friend gives you a little insider info that a stock you hold is about to crater. Do you sell some?
In other words, being honest is a tax, and the wealthier you are, the higher that tax rate. Given that, I think the only way to reach certain levels of wealth is by not paying that tax.
Therefore, I treat anyone at Musk's level of wealth as intrinsically untrustworthy. You don't get to be a billionaire by being a normal honest human. And if by miracle you should happen to, being a billionaire I think fundamentally changes your psychology such that you cease to be normal and honest. There may be exceptions, but I think they are exceedingly rare.
Billionaires are functionally a different species.