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Mark Zuckerberg passes Warren Buffet to became world’s third richest man

Deleted member 12790

User requested account closure
Banned
Oct 27, 2017
24,537
NineConsonants said:
He's vowed that any profits made from it will go back into the LLC. From what I've read, he's not seeking to make an earning from it.
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...it goes back into the LLC so he can invest more money in for-profit technologies. What you are saying is that any profits he makes from his LLC are being used to invest in other profit-making ventures.

That's not fucking charity. That's investing. This is literally the first bit of business advice I was ever given -- constantly reinvest your companies profits.

You're not really understanding that the LLC is operates, essentially, like Zuckerberg's own cash. Except, when he spends through the LLC, it's tax free.

Other uses of his LLC's profits that he can do, which he could not do had he actually set up a charitable organization, is make political donations. A billionaire, investing in for-profit private technologies, tax free, and using rhe profits to make political contributions. This is charity to you??
 
Chamaeleonx

Chamaeleonx

Banned
Oct 27, 2017
2,348
Begbie said:
I thought he was like Bill Gates?
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People talk about Gates a lot but I doubt he makes that much of a difference.

Article saying "technology as the creator of wealth", yeah for those at the top. =.=
No clue how anybody needs that much money, but I doubt any politician will ever address this.
 
NineConsonants

NineConsonants

Banned
Oct 28, 2017
5,210
Krejlooc said:
...it goes back into the LLC so he can invest more money in for-profit technologies. What you are saying is that any profits he makes from his LLC are being used to invest in other profit-making ventures.

That's not fucking charity. That's investing. This is literally the first bit of business advice I was ever given -- constantly reinvest your companies profits.

You're not really understanding that the LLC is operates, essentially, like Zuckerberg's own cash. Except, when he spends through the LLC, it's tax free.

Other uses of his LLC's profits that he can do, which he could not do had he actually set up a charitable organization, is make political donations. A billionaire, investing in for-profit private technologies, tax free, and using rhe profits to make political contributions. This is charity to you??
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From what I've heard, the investments are going into improvements in things like health and education. Has he used money from that to lobby politically?
 
julia crawford

julia crawford

Took the red AND the blue pills
Member
Oct 27, 2017
35,313
I'm not sure how positive would be for the Zuck to considerably donate to charities, sums the kind he would be able to offer would immediately demand a democratic concern and heavy scrutiny over the tremendous impact his donations could have.
 

Deleted member 12790

User requested account closure
Banned
Oct 27, 2017
24,537
NineConsonants said:
From what I've heard, the investments are going into improvements in things like health and education. Has he used money from that to lobby politically?
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as a non profit llc, he literally doesnt have to disclose his investments save to the government, a key difference between setting up a charatible organization. zuck literally wont tell anybody what he is investing in, only using vague terms like "helpful technologies."

Everything about how his llc is set up is just like an angel investor. He is relying on people having no idea what angel investors are.

Also, if you havent been paying attention, for profit education and the health industry are enormous private industries.

Anytime someone brings this up and Zuck replies, he uses the same reply -- that an LLC grants more "flexibility" than a charitable organization. The "flexibility" he is speaking of is the lack of oversight that keeps charities actually being charities. I.e. the "flexibility" to invest in anything without having to disclose it. The "flexibility" to invest in for-profit technologies, something he is forbidden to do when operating as a charity. The "flexibility" to make political contributions. In other words, he's flexible to do all the things that go against what being a charity actually is.
 
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Chamaeleonx

Chamaeleonx

Banned
Oct 27, 2017
2,348
NineConsonants said:
From what I've heard, the investments are going into improvements in things like health and education. Has he used money from that to lobby politically?
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He could do much more, nobody needs that much money. Goes for everybody in the same hemisphere. People always take the little stuff they do and think that is enough... .
 
Pwnz

Pwnz

Member
Oct 28, 2017
14,279
Places
Begbie said:
I thought he was like Bill Gates?
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I feel like Gates deserved the wealth more. He revolutionized how tech companies developed software and that contributed greatly to general productivity in the economy. And now gates is very much removed from the business end and is saving millions of lives through innovation and logistics of charity.

Zuckerberg is the modern cable TV advertising giant. He doesn't deserve nearly as much as he makes and I'm not sure his charity work is anything like Gates.
 
Bernd Lauert

Bernd Lauert

Banned
May 27, 2018
1,812
DukeBlue said:
I don't think I will ever understand why one person needs to much money. Also why one person is able to accumate so much cash
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He has the numbers. If you can sell millions or even billions of something, you gonna be rich. Someone working for a wage has a very limited upper cap since he's bound to small numbers (like 50 hours a week).
 
ChubbyHuggs

ChubbyHuggs

Member
Oct 27, 2017
2,262
Don't Gates and Buffet give tons to charity and still remain in the top 5 every year? I feel like they've both been passed before and every other year return to the top.
 
CloudWolf

CloudWolf

Member
Oct 26, 2017
15,641
Wait... how is Jimmy Buffett so high up? I knew he was a successful country singer and owns a hamburger chain, but how the hell is he that rich?

EDIT: Oh god, I'm stupid, wrong Buffett.
 
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Pwnz

Pwnz

Member
Oct 28, 2017
14,279
Places
ChubbyHuggs said:
Don't Gates and Buffet give tons to charity and still remain in the top 5 every year? I feel like they've both been passed before and every other year return to the top.
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It's because they pledge most of their current wealth over decades. On average their companies outperform the average 9% return per year. By the time they donate their pledged amount, their wealth has doubled or more. Their wealth is so massive that on average they're making people's annual salaries while watching a movie. It's also why Bill Gates is so disconnected with consumer prices because he's paid someone to shop for him for decades because literally his time is worth tens of thousands times of the bill.
 
DukeBlue

DukeBlue

Banned
Nov 6, 2017
1,502
Soupman Prime said:
You feel that way about athletes and actors too? I know they're getting peanuts compared to these guys and even the owners but it's still so much cash.
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Oh definitely, especially the athletes making millions per game or the big actors getting $20 million for a movie role. I get that such a thing is inevitable, but it's crazy to me that such a small amount of people hold so much wealth and over half of the nation struggles financially day to day
 
SleepSmasher

SleepSmasher

Banned
Oct 27, 2017
2,094
Australia
Pwnz said:
I generally don't like how he's amassing so much wealth. He's basically recaptured advertising from cable TV and is selling people's personal info. I just do not see why he should deserve it. Its so fucking sleezy.

Facebook is so undeserving of your info. For example, Google will encourage you to enable location services and give you maps, an incredibly useful app.

Facebook is just like, fuck you and enable location services. Here are 3 shitty restaurants like Denny's that we highly recommend to you. Oh jeez, you didn't open facebook for 3 whole days, let's spam your friends to connect with you. Let's randomly redirect you to the wall feed so we get a few more ad views because fuck you, right?
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You can always, you know... stop using Facebook.
 
perfectchaos007

perfectchaos007

It's Happening
Member
Oct 25, 2017
12,250
Texas
sir wallace walrus said:
And I cannot wait for this to happen. I was on there up until a week ago following a few businesses I liked but in the end, I decided I had enough. Too much garbage.
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A lot of people are ditching it as a social media platform. At least younger people ( under 40)
Its funny because, Facebook began as a site that was really popular with the 18-30 demo, and it will be the old demo ( the last to arrive on the platform ) that will probably be the last to leave. My parents who are in their late 50's early 60's are hooked on FB.
 
EccoCid

EccoCid

Member
Mar 7, 2018
707
London
Ron Paul said:
Back in 2008 people said Myspace was too big to go under, and it went under in a hurry
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yeah but Myspace was a platform who kept same face for years.... FB is much more new age and keeps evolving (i mean buying other platforms). Comparing business models of myspace and fb is just like comparing ps1 and ps4 (lol drunk analogy sorry)
 
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