Yes, go on, let NVIDIA buy intel. Let them buy AMD too. What could go wrong. I love monopolies! /s
I wonder how this guy feels when he watches everyone in the streets trying to make ends meet.
Probably feels he deserves it. :)
I know he’s in a very extreme level of this but all of us can look at people with less than us and decide how we feel about them. It’s never even occurred to me to wonder if I deserve my paycheck - it’s just mine.
Before you say it’s not the same, you don’t have his extreme, extreme wealth, remember that some people have to start their days walking several miles to fill some plastic bottles with bad water so they can wash the underwear of the guy who rapes them.
If I’m reading this right, you’re saying you’d understand if Huang sleeps soundly at night despite his wealth. I’ve made more money every year for 5-7 years, and I’ve never worried that I’ve become an out-of-touch rich person. For most people, becoming wealthy is gradual. And like you said, we can probably all look back at our past hardships and feel confident that we earned our paycheck.
“AI” technologies (in case of complex “universal” models, and not ML for narrow applications) suck for the same reason oil product based technologies suck. And that’s not global warming and microplastics. That’s power centralization and globalization the wrong way.
Both those enormous datasets and dedicated hardware for them are points of centralization.
If this is all Nvidia stock let him try to cash out and see what happens.
You dont need to sell your stocks to access that wealth. You can use that as collateral to take loans or exchange stocks.
The thing that bothers me when people say “oh its unrealized gains, it’s not real money” is that they use those unrealized gains as collateral for loans of real money. They effectively ARE that rich.
With money they loan from a bank, using whatever they bought with the previous loan as collateral.
It’s credit all the way down.
It’s BS that you can borrow against it. If he did sell it the valuation would drop.
Banks don’t take this into consideration when assessing collateral?
Lol, who downvotes a question?
Take what into account? They basically look at current valuations and offer loans up to some fraction of that amount.
And that’s generally the way the ultra-rich operate, they don’t actually sell anything, they just borrow against their assets. They punt the can down the road until they die, at which point those unrealized gains get stepped up in basis for those who inherit it. If you have enough stock assets, you can service the debt with the capital gains you’re forced to realize (i.e. dividends).
So the bank sees someone with $100B in assets asking for a $10M loan or whatever, and they’re completely happy to offer that, because even if the stock gets cut in half, he can still pay the debt.
No, he’s not. It’s only his inflated market value.
He can turn a significant chunk of this value into actual dollars, even without selling the stock. This line of reasoning that execs’ worth is not what it seems to be because it’s based on share value is constantly used to discount their wealth and argue against acting on wealth inequality.
This is all so normal and sustainable.
