42, that's the number.
We are talking percentages here. In crypto, that's a scary figure for one man to control in a protocol.
That's just 13% away from a single person holding enough governance influence to rewrite an entire economy without any external help.
To get everyone reading this on the same page, I am a little late to the conversation but Elon Musk has finally been crowned the world's first trillionaire.
This was already expected as SpaceX planned it's public listing.
It eventually happened and there's a crazy mix of reactions to one man being worth money that could theoretically feed 100 million people for 20 years.
If we scale down to 20 million people, then we are effectively looking at a lifetime of feeding.
That's how significant 1 trillion is. One man is worth 20 years to a lifetime of 20-100 million people.
Elon Musk on Friday became the world's first trillionaire after shares in his SpaceX rocket company soared during the biggest-ever stock market debut.
The Tesla and SpaceX founder comfortably cemented his status as the world's richest man, with his total net worth standing at $1.11tn (£828bn) according to the Bloomberg rich list.
It came as the rocket, telecommunications and artificial intelligence (AI) company listed on the Nasdaq stock exchange with a value of $2.2tn.
Musk's 42% ownership stake in SpaceX gives him essentially unilateral control over everything it does. He can spend the money being invested however he likes. — BBC report
What should scare you isn't the money
There's a reason I started this off with the number 42.
A lot people are focused on the fact that even if Elon lost $700 billion, he'd still be richer than the second richest man in the world currently, but I personally don't care about his trillionaire status.
What I care about is what that money truly represents that even when worth less, is still a concern.
As the report highlights, SpaceX is a rocket, telecommunications and artificial intelligence (AI) company.
Multiplanetary transportation, telecom and the intelligence engine that will power all systems in the future, AI, this is what one man holds 42% control over and somehow, it's the money people are going crazy about.
The world doesn't really understand that the market can always reprice anything to any value point, but what cannot be easily shifted is influence gained over critical systems.
If Elon's companies successful integrates into critical systems global, he essentially gains 42% influence over those systems globally. This debate should be about if he holds too much power, not if he's too wealthy to exist.
That $1 trillion spread across multiple other industries could make Elon's influence over anything almost non-existent. But at where it currently is, that's a threat factor and this conclusion is simply based on the facts.
We ought to remain interested and encourage more involvement in the governance of critical systems globally. Finance, AI and pretty much anything with the "essential layer factor" to human existence.
People need to wake up and address the right things. Money in itself isn't power, where it functions determines if it is influential or not.
Lead image source: Skynews
Posted Using INLEO
