The comment in question didn't make a point, it provided only this unsupported opinion that happens to be flatly wrong: "It's a very different thing to have concentrated wealth and people's attention."
In fact, good buddies Thiel and Musk came from S Africa sharing similar librarian attitudes and both worked hard at circumventing the banking regulations while being part of the "PayPal mafia". They are both very keen on remodeling the government around the libertarian idea of uncountable corporate power.
“They went from scrappy guys dodging government regulation to now they are the government, in a generation” said Steve Blank... an adjunct professor of management science [1]
That cannot be done without using concentrated wealth to conquer people's attention. Sure enough, Musk proceeded to acquire Twitter at a great cost and to proclaim his idea of corporate control of speech through control of attention reach: "Freedom of speech is not freedom of reach" [2]
[1] https://www.seattletimes.com/business/how-musk-thiel-and-sac...
[2] https://www.chiefmarketer.com/twitters-musk-touts-new-freedo...
Thanks
More recently, purchasing a social network and then flooding it with your worldview.
Power based on consent likely existed throughout the Holocene: “Big men” with their gift-giving and elaborate feasts, chiefdoms comprised of aristocratic lineages… the gameplan has always been to collect favors by promising future returns, religious blessings, and the like. You can see the parallels to present-day VC. These pre-historic admin dudes emerged alongside the steepening wealth inequality gradients and population growths of agrarian societies.
Comforting to know their influence is limited and precarious, as the social following can always fragment. This is what anthropologists call segmentary structures. More interesting, if severely depressing, is the theory that power based on consent is arguably the precondition for scaling social cohesion beyond kin and villages to cities and civilizations, thereby serving as the foundation for more durable power structures.
Raw power > wealth (see Putin, Vladimir: he doesn't need wealth or even to "own" anything, his raw power gets him everything wealth can buy and more). But for weaker people who aren't so powerful to control the system itself, wealth can get you a lot of power within that system.
I think it has something to do with Silicon Valley's obsession with money. To SV-people, billionaires are like gods. They are worshipped and invited to all the events worth going to (meetups, hackathons, etc.). Everyone wants to be like them.
And it seems to me to be a geographical problem too. In NYC, billionaires are like supervillains. Nobody particularly likes them (outside of select finance bros), and people openly express disdain for them and their greed.
So, the issue is really just that he has far too much power, as an individual
This is absurd to the point of being cartoonish. No one treats billionaires like supervillains. How many billionaires are in supermax prisons right now in New York?
> Nobody particularly likes them
This is not relevant, regardless of whether it’s true. A ton of people hate Thiel and Trump. Disliking a billionaire doesn’t take away their power.
"Supervillains" are comic book entities who are rarely in prison
But this is really not my point. Billionaires == Supervillains is not a commonly held view outside some echo chambers.
Batman is a billionaire too in comic lore.
I think you may be confusing 'power' or 'impact' with wealth in this take.
Paul Graham wrote about this in a blog post [1].
In NYC, being rich is cool, even if you just inherited it all. Having lived 12 years in NYC, I agree wholeheartedly. It's what everyone aspires to have; the Tribeca loft and the Patek watch.
In SF, PG wrote that nobody cares that you inherited a bunch of wealth unless they're a real estate agent. I think this is true — flashy wealth isn't impressive in SV/SF. Impact and power and the scope of what you've built and created is what's impressive, for better or worse. (I just moved to SF for this reason).
Just look at some of the comment threads here. So many replies essentially White-Knighting for a billionaire! Why does one take time out of their day to post an impassioned defense of this guy? He doesn't need your help. Do y'all think he's going to Venmo you $100 every time you defend his honor online?
Same thing for Musk. Say one thing bad about him, and the Musk Defense League reliably crawls out of the woodwork to passionately argue for him and downvote criticism. What's the point?
California is/was New Money and comes with optimism and change and progress and was able to keep up the façade until fairly recently. Now the FAANG world is richer than god and has no reasons to even try to maintain illusions
"Thiel’s lurid, apocalyptic view of world politics may be ludicrous or even deranged, but his wealth and power mean that we can’t afford to ignore it."