Moron: Guy Says He’s Never Created Jobs, Proves His Credentials by Noting…His Job Creation

by Stephan Tawney on December 12, 2011

Via Ace, someone get this guy some self-awareness for Christmas.

I’m a very rich person. As an entrepreneur and venture capitalist, I’ve started or helped get off the ground dozens of companies in industries including manufacturing, retail, medical services, the Internet and software. I founded the Internet media company aQuantive Inc., which was acquired by Microsoft Corp. in 2007 for $6.4 billion. I was also the first non-family investor in Amazon.com Inc.

Got that? He’s started companies that employ many people and invested in other companies that employ more people yet. Okay. Now for the very next paragraph:

Even so, I’ve never been a “job creator.” I can start a business based on a great idea, and initially hire dozens or hundreds of people. But if no one can afford to buy what I have to sell, my business will soon fail and all those jobs will evaporate.

What the huh?

So by his own admission he starts companies that initially hire dozens or even hundreds of people. He invested in Amazon, which today (thanks to investments from people like him) employs more than 33,700 workers. He has utilized his wealth to found or invest in companies that wouldn’t exist and certainly wouldn’t employ workers without his actions.

But then he says he’s never been a job creator.

I repeat: What the huh?

He says the mere fact a company is started doesn’t mean the jobs will remain around forever. Well, duh. But here’s the thing: He’s wealthy by his own admission. He started a company that was later sold for more than $6 billion, and he invested in what is today possibly the most recognizable internet-based company. So…they’ve been successful and jobs have been created. He created sustainable jobs through his actions.

Then he gets to this:

That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is the feedback loop between customers and businesses. And only consumers can set in motion a virtuous cycle that allows companies to survive and thrive and business owners to hire. An ordinary middle-class consumer is far more of a job creator than I ever have been or ever will be.

There’s an expression. “What do you call a leader without any followers? Answer: A guy taking a walk.” Well, this is a two-way street.

Are consumers necessary for businesses to survive? Of course. Welcome to the market. But if people don’t take a risk and start selling stuff in the first place, where do consumers go? And if no business exists, where do consumers get their wealth to spend?

Consumers provide demand and businesses the supply. But without supply, demand is meaningless. And without consumers being employed by other supply providers (companies) in order to generate income, there’s no real demand, either.

This guy is one of those “patriotic” rich people who demand higher taxes on themselves but can’t manage to work the Treasury Department’s donation website. In short, people who say they want higher taxes on themselves but really want higher taxes on everyone else. Because they already have the power to pay more taxes. They want government to force higher taxes on others.



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