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yieldcrvtoday at 8:09 PM0 repliesview on HN

last time I waded into this discussion with my own examples, the "billionaires exploit people" maximalists kept moving the goal post indefinitely

I had asked "what about a fund manager earning the carry"

management fee and performance fee, employees not entirely necessary.

the main result was a brief back and forth to understand that role, because this class of people are completely separated from all the exceptions that break their argument, and then a brief moment of acceptance, before focusing on the prevalence of this kind of billionaire amongst all billionaires. Which I thought was funny because there are not many billionaires to begin with. 20 fund managers on the list would be a large percentage of billionaires.