Josh Wolfe @wolfejosh VC, entrepreneur, fund manager @Lux_Capital; Chair @CiPrep Coney Island Prep; Trustee @SfiScience Santa Fe Inst; CoFounder of Carson, Quinn & Bodhi w/ @ltwolfe Sep. 30, 2019 1 min read

1/ NO. When Bezos “makes a dollar” he is not taking it in zero-sum salary, his wealth comes from his ownership of his stock.

Other AMZN stockowners are teacher + firemen pensions, retirees. All of them (at no cost to others) see value of their shares rise too.

2/ When Bezos “makes another dollar” it is as or more likely that Amazon got more valuable, b/c it has gained more market share, and that happens b/c more everyday PEOPLE can have what they want at ever LOWER prices (or they would not give their dollars to Amazon)...

3/ Bezos has INCREASED not decreased everyday people’s ABILITY TO AFFORD (a measure of increased WEALTH) a near infinite selection of goods, lowering prices, raising supplier competition + transparency b/w products, lowering shipping costs + times & raising convenience for all

4/ Who is worse off because Jeff Bezos is better off?

When he says of competitors “your margin is my opportunity” he is saying their “excess profits” ie what they charge above their cost is what he will provide to US at lower cost...


You can follow @wolfejosh.



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