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Paul Krugman on 'Bossiam' Elon Musk, Sam Bankman-Fried & "legend of the genius entrepreneur" [1]
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Date: 2022-12-20
Paul Krugman helps explode the myth of genius entrepreneurs.
By Paul Krugman
..to paraphrase Lord Acton, enormous privilege corrupts enormously, in part because the very privileged are normally surrounded by people who would never dare tell them that they’re behaving badly.
That’s why\ I’m not shocked by the spectacle of Elon Musk’s reputational self-immolation. Fascinated, yes; who isn’t? But when an immensely rich man, accustomed not just to getting whatever he wants but also to being a much-admired icon, finds himself not just losing his aura but becoming a subject of widespread ridicule, of course he lashes out erratically, and in so doing makes his problems even worse.
The more interesting question is why we’re now ruled by such people. For we’re clearly living in the age of the petulant oligarch.
As The Times’s Kevin Roose recently pointed out, Musk still has many admirers in the technology world. They see him not as a whiny brat but as someone who understands how the world should be run — an ideology the writer John Ganz calls bossism, a belief that the big people shouldn’t have to answer to, or even face criticism from, the little people. And adherents of that ideology clearly have a lot of power, even if that power doesn’t yet extend to protecting the likes of Musk from getting booed in public.
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