Rest In Peace. David Koch.

[Kak]

David Koch died this morning.

Between the value he provided his customers, shareholders, employees; and the tremendous devotion to free market political causes... He made the world a better place.

 

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[MTEE1985]

One family, overseeing 20+ companies, employing over 100,000 people and most of us use their products on a daily basis even if we don’t know it. They espouse everything that this forum is with their value first approach to business.

If you haven’t read this: Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies: Charles G. Koch: 9781101904138: Amazon.com: Books



Do it now.

 

[Kak]

The reason I like the Kochs...

They are billionaires like Buffett, Munger, Gates, Bezos, Dalio, Dimon, Trump... But unlike those assholes... They don't pontificate about income equality, engage in class warfare, push for higher taxes or want to turn us into a socialist oligarchy. They support policies that actually free up the rest of us so we can attempt the same.

To me it is morally reprehensible to argue for higher taxes and regulation after they already made their money.

You all should check out Americans For Prosperity. A Koch charity. Look at their campaigns against occupational licensing. They are literally the least hypocritical billionaires on earth. They want you to do well for yourself.

 

[G-Man]

So it's a left versus right thing. Damn, that's annoying.

The way people feel about him probably is. That's almost always the case. My guess is he leaned a little more libertarian though. Right wingers don't usually get behind things like prison reform, elimination of mandatory minimums and racial inequality in policing.

Also, he and Soros made their livings in different ways as far as I can tell. Koch made products people use. Soros held banks hostage. I'll leave it to the free market crowd to debate whether that's a good thing or not. I have no idea.

Other than that, yeah, it'll be the same tired debate we always hear about rich people. If they're rich and have the same social and political alignments as I do, then they must be doing what they do out of noble altruism and in spite of their wealth. If they don't agree with me, their generosity is motivated by some nefarious purpose.

When @lowtek finishes the machine he's building in his garage that allows us to experience the consciousness of other humans, we'll have the answers to all these questions.

 

[MJ DeMarco]

Care to elaborate?

EDIT: not trying to rustle any jimmies, the only information I can find on the guy was that he had a lot of money in politics and differed climate change for decades.

I'm guessing in the same way people think George Soros is the ultimate philanthropist.

 

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[Dan_Cardone]

Just bought the book Good Profit. The firestorm on reddit made me more curious about the Koch brothers. Are they as bad as these anonymous redditors make them out to be? Reading David Koch's Wikipedia page didn't really give me much. Just sounds like another John D. Rochefeller to be honest. And lot's of people hated him even though he was a huge philanthropist.

Crabs hate anyone who escapes the bucket.

Easier to criticize others than to take responsibility for their self made prisons.

 

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[Azure]

Just bought the book Good Profit. The firestorm on reddit made me more curious about the Koch brothers. Are they as bad as these anonymous redditors make them out to be? Reading David Koch's Wikipedia page didn't really give me much. Just sounds like another John D. Rochefeller to be honest. And lot's of people hated him even though he was a huge philanthropist.

If there is anything the average Redditor hates more than people who are right of center, it's very rich people who are right of center.

It's a very valuable resource if used in the proper context. I can't think of a single source destination that allows you to step into the minds of literally almost any demographic segment you can think of and then some that are so niche that you wouldn't even think that it would even exist.

But the absolute worst thing anyone can do to themselves is let the negativity of the hivemind suck you into their depths of near cultlike hatred of personal self advancement, individualism and capitalism in general.

 

[Dan_Cardone]

Thousands of people on reddit cheering his death because "he had more money than he needed."

Some people....

 

[Kak]

I wouldn't even call them "right" I would just call them extremely pro-freedom and anti-government in our lives.

Their political affiliation is less government.

 

[Kak]

RIP to a great business man and philanthropist.

Politics aside, the man truly loved America and the American Dream.

However, he wasn’t self-made and he was never in “the bucket”.

Fred Koch, his dad, was very very very rich.

Charles is really the mastermind. The company was only worth like 20-30m before Charles took over.

They almost went bankrupt once or twice in the process of the rise to billions. That is self made enough for me.

The delta between the starting point and the end point is so large that is like a Nigerian accusing all Americans of being "old money."

 

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[SpongeGod]

I like this forum a lot more than reddit. Less whining people.

 

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[lowtek]

I always find it fascinating that people get so wrapped up either deifying or vilifying the rich and powerful that they forget to ask the most important question of all: how can I replicate what they did?

Even in the case of those that are "born into money" and turn $1M into $1B... what was the process they used? How could I turn $1,000 into $1M?

 

[Kak]

Financially successful (almost beyond comprehension) through the incredible ecosystem and strong values instilled by their family. These are Charles’ words, but it’s obvious to anyone that comes from privilege that you have a leg up in life. The Kochs know they aren’t self-made. In fact, coming from privilege is part of their success story. Many in the same spot let entitlement, ego, fear, whatever get in the way of going for it.

(There wasn’t anything middling about their company when they inherited it. I believe it was approximately a $20M business in the sixties. That’s miles away from middling.)

Here we go again. No one can ever just be highly intelligent, successful and impressive. It has to be some outside circumstance.

"You forgot he is a white male." @Fox

If you look at the stats on "rich kids" by the way, it is pretty bleak.

 

[Azure]

"David Koch was a villain. He and his brother worked consciously to further inequality and poverty with their greed and politicking. I won’t celebrate his death—but patronage of the arts, science, and medical research could never outweigh the damage he did."

https://twitter.com/i/web/status/1164889245787414528

View: https://twitter.com/JamilSmith/status/1164889245787414528?s=20

Good Lord, some of those people

"David Koch was a villain. He and his brother worked consciously to further inequality and poverty with their greed and politicking. I won’t celebrate his death—but patronage of the arts, science, and medical research could never outweigh the damage he did."

https://twitter.com/i/web/status/1164889245787414528

View: https://twitter.com/JamilSmith/status/1164889245787414528?s=20

Call me crazy, but I can't take anyone who uses the phrase "climate crimes" seriously.

 

[Kevin88660]

Generous sponsor of various libertarian causes.

 

[Jon L]

One family, overseeing 20+ companies, employing over 100,000 people and most of us use their products on a daily basis even if we don’t know it. They espouse everything that this forum is with their value first approach to business.

If you haven’t read this: Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies: Charles G. Koch: 9781101904138: Amazon.com: Books



Do it now.

I read that book also ... it was excellent.

 

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[G. Wellthy]

Come on... Why lie about something that's so easy to verify?

Buffett has made HUGE chartible donations every year for the past 14 years...since 2006, he's has given away over $34B:

How Warren Buffett Made Berkshire Hathaway a Winner

Berkshire Hathaway is one of the most coveted companies and stocks in the world, thanks to the investing prowess of Warren Buffett.

www.investopedia.com

He's also pledged ANOTHER $37B after his death, but that doesn't detract from the fact that he's given away nearly half of his net worth in the past decade and a half.

@G. Wellthy - What is so bad in your life that you feel the need to negatively judge someone who is trying to help humanity by essentially donating their entire net worth during/after their life (regardless of what you might feel about their politics)?

Yikes that’s incredibly misinformed of me. Not intentionally lying. I’ll wear that for awhile. And I’ll reflect on what that says about me also.

I’ll save any further thoughts about philanthropy and taxes for a time when I don’t look and feel like such an idiot.

 

[NCNY]

I always find it fascinating that people get so wrapped up either deifying or vilifying the rich and powerful that they forget to ask the most important question of all: how can I replicate what they did?

Even in the case of those that are "born into money" and turn $1M into $1B... what was the process they used? How could I turn $1,000 into $1M?

Easier to complain and cry than actually do some action.

 

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[Charnell]

He made the world a better place.

Care to elaborate?

EDIT: not trying to rustle any jimmies, the only information I can find on the guy was that he had a lot of money in politics and differed climate change for decades.

 

[Charnell]

I'm guessing in the same way people think George Soros is the ultimate philanthropist.

So it's a left versus right thing. Damn, that's annoying.

 

[Rawseed]

self made billionaires

Crabs hate anyone who escapes the bucket.

RIP to a great business man and philanthropist.

Politics aside, the man truly loved America and the American Dream.

However, he wasn’t self-made and he was never in “the bucket”.

Fred Koch, his dad, was very very very rich.

 

[SpongeGod]

Just bought the book Good Profit. The firestorm on reddit made me more curious about the Koch brothers. Are they as bad as these anonymous redditors make them out to be? Reading David Koch's Wikipedia page didn't really give me much. Just sounds like another John D. Rochefeller to be honest. And lot's of people hated him even though he was a huge philanthropist.

 

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[GPM]

Not self-made whatsoever

He turned a fairly mediocre business into one of the largest private enterprises in the entire world... What would you call that?

 

[Tourmaline]

But the inequality driven by climate crimes! Don't you have a heart?? @Azure

 

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[MattL]

Interesting how one forum can have the complete opposite reaction to something than another.

Or maybe that's not that interesting.

Oh well lesson learnt.

 

[Champion]

One family, overseeing 20+ companies, employing over 100,000 people and most of us use their products on a daily basis even if we don’t know it. They espouse everything that this forum is with their value first approach to business.

If you haven’t read this: Good Profit: How Creating Value for Others Built One of the World's Most Successful Companies: Charles G. Koch: 9781101904138: Amazon.com: Books

View attachment 26793

Do it now.

Thanks for sharing this book, gonna read it!

 

[DayIFly]

In other words, there cannot be an honest man that's worth more than $100 million yes? @DayIFly

I wonder what led you to this belief.

It's possible, but I can't be bothered with that. I'm more interested in what Kak has to say for example, than what the Koch brothers wrote or said.

 

[Tourmaline]

Do you hate Buffet and Munger too?

 

[G. Wellthy]

Isn't the Buffet, Gates thing for higher taxes just lip service for publicity? Doesn't Buffet pay himself a very low salary a year? If he wanted to pay more taxes he could easily accommodate that. I just figured they had different motives to support these causes. Again if Buffet especially wants income equality he could easily raise the salaries in all the companies he has ownership of.

It’s not lip service (I don’t believe) because Buffet is advocating for a wealth tax. Regardless of income, you would get taxed on your total capital base.

A wealth tax above say, $100 million, or even $1billion, would more likely result in wealth fleeing the US then help the masses.

I believe the US setting taxes competitively with the Irelands and Barbados of the world does more to help America than a wealth tax ever would. And this helps us grinders more as well.

 

[Kak]

It’s not lip service (I don’t believe) because Buffet is advocating for a wealth tax. Regardless of income, you would get taxed on your total capital base.

A wealth tax above say, $100 million, or even $1billion, would more likely result in wealth fleeing the US then help the masses.

I believe the US setting taxes competitively with the Irelands and Barbados of the world does more to help America than a wealth tax ever would. And this helps us grinders more as well.

Bingo... Since when has higher taxes EVER produced a better outcome for the masses? That idea spun by the tax and spend politicians... It is yet to be proven that our money is better off in their hands than ours... People still take their word for it though.