Unreasonable expectations

Dave Killion — August 30, 2011

Having just yesterday mentioned the tremendous contribution made by Steve Jobs to the welfare of humanity, I was horrified to read this

… the lack of public philanthropy by Mr. Jobs — long whispered about, but rarely said aloud — raises some important questions about the way the public views business and business people at a time when some “millionaires and billionaires” are criticized for not giving back enough while others like Mr. Jobs are lionized.”

The only question it should be raising is why anyone thinks Jobs or any other millionaires and billionaires have to ‘give back’ anything! This is very simple – when someone buys something, they are indicating through their actions that they value the acquisition MORE than the money they paid. The immense wealth accumulated by Jobs and others like him is, by definition, worth LESS than the value they have provided. They owe nothing! In fact, it is likely that it is we who are indebted to them.

I could go on about this, but there is nothing I could say that hasn’t been better expressed by Dan Mitchell of the Cato Institute, and Mark Perry of the indispensable Carpe Diem. Enjoy!


David says

Good point and something that is rarely talked about: people do not exchange unless that which they get is valued more than that which they give. If we were to look at the companies through this lens they turn into philanthropic organisations by default. Love it!

— September 1, 2011

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