Vicky Ward, a journalist known for her work on the Kushner family and Jeffrey Epstein, joins tech critic Edward Ongweso Jr. and futurist Douglas Rushkoff to dive into the mindset of today's billionaires. They discuss the increasing political influence of the ultra-rich and the ethical dilemmas faced by journalists covering them. The trio unpacks the paradox of immense wealth coupled with isolation and critiques modern billionaires' motivations for space exploration and philanthropy, contrasting them with past societal values.
The concentration of wealth and power among billionaires, particularly in government roles, poses significant risks to democratic accountability and governance.
The mindset of tech billionaires investing in space travel reflects a troubling disconnect from societal responsibilities and raises ethical concerns about social equity.
Deep dives
The Rise of Billionaire Influence in Government
The increasing presence of billionaires in government roles has raised significant concerns about power dynamics and accountability. Notably, Donald Trump's administration includes a record number of billionaires, among them Elon Musk, the treasury secretary, the education secretary, and various ambassadors. This group collectively wields immense wealth, valued at over $400 billion, contrasting sharply with Biden's cabinet of just $118 million. Such concentration of wealth and power in the hands of a few unaccountable individuals presents potential risks to democratic governance and oversight.
The Psychosocial Landscape of Tech Billionaires
There is a disturbing trend among a new breed of tech billionaires who exhibit a desire to escape Earth, driven by fear of an impending apocalypse. This mindset suggests that they view humanity as a transient phase in the evolution of consciousness, prioritizing technological advancement as a means of ensuring survival. The belief that investing in space travel or digital immortality is key to escaping a damaged world reflects a profound disconnection from societal responsibilities. This mentality casts doubts on their intentions, as their focus may center more on personal salvation than the welfare of the broader population.
The Chilling Influence of Misinformation
The interaction between Elon Musk and misinformation highlights the dangers of unchecked power in the digital age. Musk's reliance on social media as his primary news source has led him to disseminate false information, which, in turn, skews public perception and policy conversation. An incident where Musk confused two journalists with the same name illustrates how dangerous this misinformation can be, leading to real-world consequences and public backlash. Such dynamics not only affect individual reputations but can also disrupt important discussions concerning technology and governance.
Transhumanism and the Future of Humanity
Transhumanism, a philosophy embraced by some tech billionaires, raises critical ethical questions about humanity's direction and the pursuit of immortality. It suggests that augmenting human capabilities and transcending biological limits is not only desired but achievable, prompting discussions about class and power differentials. Critics argue this ideology reveals a fundamental disregard for social equity, as it positions a select few at the forefront of potential existential advancements. The pursuit of such radical change risks further entrenching societal divides, as only the wealthy may afford to participate in or escape the consequences of technological innovations.
As billionaires hoard more control over our politics, it seems more important than ever to ask: What makes them tick? Four reporters gather after hours at a wine shop to discuss – over drinks – what they’ve learned from covering billionaires for years, and how it can help us hoi polloi make sense of what the ultra-rich are doing right now.
Featuring Vicky Ward, who has covered the Kushner family and Trump, and who, in 2002, was the first journalist to investigate Jeffrey Epstein’s finances in a profile for Vanity Fair; John Hyatt, who covers billionaires, with a focus on Elon Musk, for Forbes; Douglas Rushkoff, who's written about tech billionaires preparing for the end of the world; and Edward Ongweso, Jr., who covers the impact of the exponential growth of large tech companies for outlets like Vice and The Nation.
(Douglas Rushkoff said in our conversation that his trip to a hedge fund conference in the desert happened in 2018, but the trip was actually in 2017.)