alt Hacker NewsWho exactly do you suggest to manage these $130B better than him? Government? Pension fund? An example of a company managed by pension funds is Intel.
The whole point of capitalism is to put chunks of economy under control of capable people. If they managed to get rich then on average they're much better at that than the general population.
This is not an unpleasant side-effect, this is the main reason the whole system exists, remove it and it's not capitalism anymore.
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> An example of a company managed by pension funds is Intel.
What does this even mean? Pension funds have a lot of board seats? I only see one person from Blackrock on their board right now.
Why would it be bad for a pension fund to have influence on running a company? Are their incentives somehow mis-aligned with other investors?
You say manage this 130 billion as though it materialized from nothing. The point of the original comment was that his accrual of this much money is the failure.
Who do you think generated that excess 110 billion? Ballmer's advanced managerial capabilities? Sure "the market" might have valued equity more, but that's still the policy failure. Saying that "this is how this works" is silly. It could just as well work some other way.