alt Hacker NewsI have a tangential theory to this.
Being rich != being famous. There are tons of extremely wealthy people out there that keep a very low profile. Sure they might be well known within their circle but ask the average person and they have no clue who that person is. I would say this is the case for like 90-95% of billionaires.
Musk, Andreessen, Zuck and others were all in this camp 10 years ago but they all decided that simply being rich wasn't enough, they wanted to be famous. These folks have all the resources and connections to become famous so they can get on all the podcasts, write op-eds, and are guaranteed to get the best reach on social media and thus the most eyeballs on their content and the most attention paid to them.
But when you go from making a few media appearances a year to constantly making media appearances in one way or another is that you need more "content" so to speak. Just like a comedian needs more content if they are going to do a 1hr special versus a 10min set at a comedy club.
The problem for all these guys is they have a few genuinely insightful ideas mixed in with a ton of cooky and out of touch ideas. Before they could safely stick to the genuinely insightful ideas but as they've made more and more appearances, they have to reach for some of those other ideas. They don't realize that their cooky ideas sound very different than their few insightful ideas. They think all their ideas are insightful based on the feedback they have been getting for the past decade or so.
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I need to reread it but Paul Fussell makes the case that old wealth is inconspicuous and secure (and maybe inherited) versus nouveau riche which is about visible luxury, branding, and showy consumption. I don't remember if he mentions the need to promote ideas.
https://en.wikipedia.org/wiki/Class:_A_Guide_Through_the_Ame...
I think Musk definitely financed many of his ventures on his personal brand. The amount of capital he could raise because of his public persona as some kind of Tony Stark, made all the difference.
Same for Andreessen, a VC's success is built on his ability to raise capital and pick winners. His whole strategy, like Musk, was also on building a public persona to raise capital and get people to believe in his picks.
There's also differences between fame, infamy, popularity and elite social status, which is probably not all that clear to newly-minted billionaires that are already lacking in the social skills department.
> Being rich != being famous.
> decided that simply being rich wasn't enough, they wanted to be famous
While these are true, the real detail is that these people were never satisfied with being rich -- they wanted to be powerful. And influence is what makes one powerful. Being rich goes a certain distance: once you have f you money, the only thing worth buying to gain more power is fame.
They also truly believe they have all the right ideas, and the validation that comes from being platformed for a financial success (often right-place-right-time type luck, but sometimes combined with genuine skill or insight in a relevant field) hardens them to all criticism.