"Billionaires control the cable channels, social media platforms, newspapers, movie studios and essentially everything else that we consume, but for their own information sources they are in some cases more likely to trust their own kind. Semafor documented one ultraexclusive group chat that included Mr. Andreessen and Mr. Srinivasan, among others, in which the self-reinforcing discourse is reported to have pushed many Silicon Valley tycoons toward right-wing politics. “If you weren’t in the business at all,” the writer Thomas Chatterton Williams said of a similar group chat he was a member of, “you’d think everyone was arriving at conclusions independently.”
Such disconnection goes a long way to explaining why billionaires can’t grasp how the real world is convulsing outside their well-secured gates.
And convulsing it is. According to the most recent edition of an annual Harris Poll, for the first time, a majority of Americans believe billionaires are a threat to democracy. A remarkable 71 percent believe there should be a wealth tax. A majority believe there should be a cap on how much wealth a person can accumulate.
A realignment may be underway. The recent push for the Epstein files, a previously unimaginable collaboration between conspiracy-addled MAGA true believers and anti-corporatist Democrats, was just the latest sign. At a moment when income inequality, the looming threat of A.I. and the rise of authoritarianism seem to be straining American societal cohesion, a revolt against self-dealing elites may be the only cause compelling enough to bring us together.
The favor of billionaires is already in some cases proving to be more of a liability than a blessing. In Seattle last month, a democratic socialist was elected mayor over a Democratic incumbent backed by wealthy interests."
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