Quote of the Day – Money Editions
“Just because Usain Bolt sets a world record every time he runs doesn’t make the other runners slow.” - Mark Cuban, explaining why income disparity isn’t a problem.
While it’s a great line, it’s actually a poor illustration. Races and records are zero sum games. Bolt’s winning the Olympics and setting a new record deprives other runners of gold medals and records.
Conversely, Cuban’s earning a few billion dollars has essentially no impact on future enterpreneurs getting rich.