Tornado Alley (PROG)

[B402]

Well, when 10 million clones of Musk come into the country over 4 yrs I will certainly be outraged, lol....Till then... (sorry :)

How many company's could put up 6000 satellites, (unless they used spaceX ;) and bring the web to the entire globe...

I'll wait

As of September 2024, there are 6,426 Starlink satellites in orbit, of which 6,371 are working, according to Astronomer Jonathan McDowell who tracks the constellation on his website.?

https://www.space.com/spacex-starlink-satellites.html#:~:text=As%20of%20September%202024%2C%20there%20are%206%2C426%20Starlink,McDowell%20who%20tracks%20the%20constellation%20on%20his%20website.

Musk on inequity,,,,
Might look at this on passive investing
Very interesting article I think you'd like,

Is Elon Musk Right To Worry About Passive Investing?
https://www.forbes.com/sites/michaelcannivet/2024/02/02/is-elon-musk-right-to-worry-about-passive-investing/

Creative destruction is what drives economic progress in the long run, because it allows new companies with new ideas to nimbly create breakthroughs. It also keeps existing companies on their toes—constantly innovating—based on fear of being displaced. These are good things.

Yet, in today’s economy, a narrow set of tech giants is benefitting enormously from a status quo that’s being subsidized by passive investors. The biggest companies in Silicon Valley have enormous balance sheets and enjoy a permanent cost of capital advantage over smaller companies (as billions of incremental dollars continually pour into their coffers every month courtesy of passive flows). This gives them scale advantages that make it easy to outmuscle upstart competitors, or quickly invest $10 billion to capture the pole position on a hot new trend, like Microsoft did last year with OpenAI.

Another concern with widespread passive investing is how it contributes to wealth inequality.

This point is really simple. Passive funds are designed to disproportionately favor the richest companies, which are predominately run and owned by the richest people. This partly explains why former Microsoft CEO, Steve Ballmer, is now poised to collect over a billion dollars a year in dividend checks alone.

Wealth inequality is a global issue. Oxfam, a global confederation of NGOs fighting poverty and inequality, publishes an annual report titled, “Inequality Inc.” The report paints a disturbing picture of a widening wealth gap. While the fortunes of the five richest men have doubled to a staggering amount of $869 billion since 2020, nearly five billion people have been made poorer compared to pre-pandemic. Something is wrong there.

History shows economies function best when economic gains are broadly distributed, because it increases the velocity of capital. The marginal propensity for a poor person to spend an incremental dollar is much higher than a billionaire’s.

Also, when economic gains are too narrowly distributed, it creates an unhealthy amount of social tension.