Morality

Billionaires Are People, Too!

Billionaires Are People, Too!

Last January, the Wall Street Journal published a spectacularly hyperbolic letter. Written by billionaire venture capitalist Tom Perkins, it likened today’s “rich” to Jewish Germans living in the shadow of the Nazis, defended novelist Danielle Steel (Perkins’ ex-wife) against allegations of snobbery, and warned of “a rising tide of hatred of the successful one percent” that is bound to culminate in a “progressive” Kristallnacht. As this fretful piece made the rounds, it was ridiculedpartially recantedawkwardly defended, and, as is par for the course, made worse in the retelling.