Billionaires: What Went Wrong?

2021-ж., 26-фев.
224 750 Көрүүлөр

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We got 99 problems... and over 800 billionaires is one.
Love 'em or hate 'em, it's weird how dang wealthy billionaires are. Was this the inevitable consequence of a free market economy, or is something way weirder going on? Let's find out in this Wisecrack Edition on Billionaires: What Went Wrong?
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=== Watch More Episodes! ===
The Truth about Bill Gates ►
Anti-Vaxxers: What Went Wrong? ►
Gamestop: The Economics of Sad Hedge Funds ►
00:00 - Intro
02:14 - Billionaire Origins
07:32 - The Other 99%
09:47 - Workers Stand Up
12:42 - Things Get Worse (Again)
16:31 - Outro
Written by Amanda Scherker
Hosted by Michael Burns
Directed by Michael Luxemburg
Motion Graphics by Riley A
Illustrations by J.R. Fleming
Editing and Additional Animation by Andrew Nishimura
Video Title Card by Amanda Murphy
Produced by Evan Yee

#billionaires #billgates #wisecrack
© 2021 Wisecrack / Omnia Media, Inc / Enthusiast Gaming

  • There were billionaires in the distant past as well. King Solomon of the Bible fame might actually have been the Scrooge McDuck of its time, even though he’s a king!

    Slapstick GeniusSlapstick Genius4 күн мурун
  • Free market is a lie

    dick castledick castle5 күн мурун
  • Why anyone defends billionaires is beyond me. Spite for humanity is my best guess.

    zyfizyfi8 күн мурун
  • All this shit goes away when we get rid of crapitalism!

    Carlos SpicyweinerCarlos Spicyweiner8 күн мурун
  • I misread and thought this was about the tv show

    xxyy gdsdxxyy gdsd9 күн мурун
  • Totally skipped over Teddy Roosevelt breaking up the monopolies like he didn’t exist.

    Charles GallagherCharles Gallagher10 күн мурун
  • "Life has gotten worse for americans in just about every measurable way" I'm calling bull. I am very sceptical of your metrics for that conclusion. Up until this last year, poverty had been steadily decreasing globally. Perhaps you are using "income equality" as "general well being" which is a pretty gross assumption. I'm not asserting that life has over all gotten better just that it's probably not "worse in every measurable way" Valid points about corporatism marrying government and stuff tho but you can't just say stuff like that as a statement of fact.

    Sean FerneySean Ferney11 күн мурун
  • Billionaires suck balls. No one should ever be able to run their own space program. No one person should be able to pay our entire military budget for several years with a single check and still have tons of cash left over.

    wmmseowmmseo11 күн мурун
  • It's a shame what the channel has become since Jared left. Let's make something clear, this notion of income inequality and billionaires are bada suggest that people are poor because the other are rich. That's not how any of it works. The amount of value created is not fixed or set. The fact that now exist more billionaires than ever before is proof that value is constantly created, what I mean is the pie is getting bigger. That is very good. People complain about billionaires getting richer in the pandemic, as if they didn't spent more in amazon, spent more time in social media, shopped in big name grocery stores, and subscribed to a new streaming service. Actually the actions of the government towards the pandemic, are responsible for their businesses booming. Let's not forget that small mom and pops stores got closed down but Walmart mas kept open. The other notion is that this billionaires got the money in the bank, that's not right. They own a portion of a business that in time is valued at a higher price. What are you going to do to prevent this? Force them to sell their shares? It's hard for me to comprehend how so many people despise the billionaires. Which many of them have made their lives better, and that is why they are billionaires. How many of you order through amazon? How many have worked or used a pc? How about how many own an iPhone? How many have a Facebook account? And how many people work at a job at one of these companies or sell services to or through this companies? It is thanks to them that we live more comfortably now than before, and society rewards them by making them billionaires. I find it funny that when people recall the 2008 market crash, all they remember is bailing out the big corporations in the framing of helping the 1%. Which, to be fair it is like a huge deal the part of bailing out big corporations. And I am against these by the way. No business should be too big to fail. What's funny to me is the notion that the government did it to help the rich. That is not true. Let's look at the alternative. All big businesses fail, so many more people would lose their jobs, and in this particular case, many more would lose their savings and property (maybe). That is the perspective the government officials had. We cannot let all this people lose their savings and jobs, so lets help the company that supports them. Was that the right choice? It is debatable but that is the correct framing to this scenarios. Lastly, the reason that billionaires have power beyond their business, through the government, is because the government have too much power. That's why I advocate for a very limited government. That way no cooperation can solidify their rule through the law.

    Pedro MoraPedro Mora13 күн мурун
  • Eat the rich!

    Emil CarlssonEmil Carlsson14 күн мурун
  • Thanks to hyperinflation the US is going to have millions of billionaires soon.

    RuskettleRuskettle17 күн мурун
  • Social darwinism survives with the Lobster king while he heeds the call against postmodern neomarxism. Ahhh the irony

    Abraham SarmientoAbraham Sarmiento17 күн мурун
  • Where’s the breaking point people, we’ve given up on fighting for ourselves against this monopolization of wealth.

    Daniel BigginsDaniel Biggins17 күн мурун
  • Nice, welcome to 1st stop on the breadtube algorithm kids 69420 straight to the moon! =]

    Gary GrinkevichGary Grinkevich18 күн мурун
  • honestly, if you have rich makinging friends, you wulll never have to life live rich as it actually is,

    PowPowSkrrSkrrPowPowSkrrSkrr18 күн мурун
  • He’s good looking!.!.

    Marlon EliasMarlon Elias18 күн мурун
  • Personally, I feel like the debate over billionares being good or bad is a misleading one. It's a lot like "the good king" myth, where the question of whether we should be supporting a monarchy at all is side stepped.

    Waitwhat469Waitwhat46919 күн мурун
  • One interesting thing I've seen is the increase in interest in cooperative style ownership of buisnesses, with even bloomberg having an article in the increase and sustainment of coop style buisnesses during the last bust cycle.

    Waitwhat469Waitwhat46919 күн мурун
  • seeing a Liberal being used as a source against laize faire is a trip.

    NightthoughtNightthought19 күн мурун
  • Well it is obvious why no one complains in this days, because we have been trained to glorify money and admiring people with money without questioning because of the social darwinism. Having a stupid amount of money have been the focus in our society for decades. We saw that literally everywhere, in series, movies, magazines and now in KGworld. And if you also make this people "relatable", by inventing a tragic origin story or conveniently modifying their story, and "likable" by allowing them to put memes and all this "funny and cool" stuff on their social media, then you have the perfect combination. It doesn't matter if they treat bad their employees, it doesn't matter they are exploiting the development countries for their resources, it doesn't matter they block other innovations. Just let them put memes on their social media and let them talk about video games and edgy stuff and no one will ever say anything. On the contrary, people are going to adore them because they are "grounded".

    Valentina SeverinoValentina Severino20 күн мурун
  • Love Billionaires 😎

    Bahman SaBahman Sa22 күн мурун
  • How compelling... Now please face the wall.

    Jason DuttonJason Dutton25 күн мурун
  • Guess not much has changed

    allthatgliters020allthatgliters02026 күн мурун
  • The amount of ppl who think you should be grateful for your crumbs not complain & not fight any rich ppl rules bcuz they want them to benefit too for the magic day when they too get rich 🙄 I hear this sentiment way to often. As if upward mobility exists anymore. And somehow it's OK for billions to go to corporations in gov't tax breaks n subsidies but the gov't giving the ppl anything is "handouts" I even heard an old man say the other day the that he refused to accept medicare because it was socialism & he was responsible and saved plenty to pay his own way 😏 Thank you for the badly needed history lesson 👏 🧡 🦇

    Trixie T0xXx1kTrixie T0xXx1k26 күн мурун
  • Short answer of what went wrong. We became depended of the product they were selling since before the pandemic

    Ryan AdamsRyan Adams26 күн мурун
  • Karl Marx with the class struggle nonsense: "My ideas killed more than 100 million of people from starvation, disease, gulags and very massive State murderer" .

    Star mastercStar masterc27 күн мурун
    • except you are wrong.

      ginger cuntginger cunt14 күн мурун
  • Eat them all

    RamphRamph27 күн мурун
  • Billionaires are the distraction trillionaires put out so we don't believe they exist.

    odeeanodeean27 күн мурун
  • Give us an economy that functions like Mario Kart's item system lol

    Colin Searfoss-SmithColin Searfoss-Smith28 күн мурун
  • 16:16 What evidence did you present that gave us the impression of false accessibility to climb the social ladder? It's not false it's still very possible to gain wealth from humble beginnings like the true story behind Hillbilly Elegy thanks to capitalism. Sure maybe not everyone will become multibillionaires but that's a curse as well as a blessing we just think the pasture is always greener.

    Austin BakerAustin Baker28 күн мурун
  • Why don't people understand? Trading stocks is gambling. The market IS a Casino. The 1% are gambling to make themselves richer helping only themselves. So maybe we should abolish the stock market? (Maybe that would be a disaster somebody enlighten me)

    Austin BakerAustin Baker28 күн мурун
  • We think the world is ending when a couple of school shootings happen, there were full scale battles between the militia and working class worth 1,000,000 rounds of ammunition. Perspective

    Austin BakerAustin Baker28 күн мурун
  • Part of me misses the good old days of raising an army and storming a castle, beheading a rich king and taking their wealth. It just doesn’t work like that anymore.

    Soren KazarenSoren Kazaren29 күн мурун
  • So true, just give me a peace of that action.

    Mavid DedinaMavid DedinaАй мурун
  • The love of money is the root of evil.

    BotzBotzАй мурун
  • This was a fantastic video. Really excellent explanation of gilded age. A little light on the later stuff but still really good

    Farhat AhmedFarhat AhmedАй мурун
  • What do I think? I think the greatest and most dreadful accomplishment in American business of the last 30 years has been the ability of the Republican rich to get Republican voters to vote against their OWN BEST INTERESTS time and time again, gasslighting a vast segment of voters to NOT JUST vote AGAINST their own best interest but to get them EXCITED to actively and - with no prompting - attack the institutions that exist wholly to protect them, like unions. It's sick and it's HAS to stop or BE stopped. If it is not then very, VERY soon there will simply be NOTHING left of the nation we call home. There will be nothing left of the brave and bold everyday people who built it and who bled to protect it. (Nothing but offshore non taxable bank accounts of the ultrawealthy and the wealth that is not theirs to have nor keep.)

    Sean BrazellSean BrazellАй мурун
  • Christina Freeland is Canada’s first female finance minister & is the effective equivalent of a vice-president to Trudeau. Glad to see her inclusion - even just for a small quote.

    The Circuit BenderThe Circuit BenderАй мурун
  • America, a place for rich and slaves

    Miguel RodriguesMiguel RodriguesАй мурун
  • Money is power and power corrupts, who knew? To make it that far you practically have to be sociopath as pre-requisite. Is it really any mystery these people are leading us all into servitude while jealously guarding their own miserable wealth like Scrooge McDuck? If society went on a rampage and killed the lot of them you'd solve most of humanity's problems in one bloody afternoon. Make no mistake, these scumbags are all the ennemies of humanity.

    Vincent VoidheartVincent VoidheartАй мурун
  • Nice historical overview. Your statement that today most American's are not really trying to challenge the system and rules by which the oligarchy play the way Americans did during the Guild Age is clearly true. They mostly want a piece of the pie, and in order for that to happen, the last thing we want is to dismantle the system. As an historian, this reminds of me the Latin American revolutions, which wasn't so much a revolution as a transfer of power from elites in Spain to elites in Spanish America. The North American Revolution was similar in that while lecturing the world on liberty and the propaganda of land of the free and home of the brave, in fact slavery got worse after we emerged as a new nation, Native Americans were shoved "to the Stony Mountains" in Jefferson's terms and were not even U.S. citizens until after WWI (some states barred Indians from voting until 1957), women had to wait until 1920 for universal suffrage, and black people had to wait until the 1960s to end Jim Crow, at least officially. Heck, anybody remember the 2005 Citigroup investment memo? It stated as a matter of fact that we are a plutonomy, and clients should therefore invest in what the rich luxuriate in not the middle class which was fading. As all good investment advisors, what are the risks of investing in the plutonomy? A key threat is, wait for it, Democracy. If people got so sick of the system that they actually changed it. But no fear the memo went on to say. As long as Americans continue to believe that they too can become one of rich, they were unlikely to challenge the game.

    Ruben RiveraRuben RiveraАй мурун
  • You should look closer at the carbon credit. It's not working the way you think. It renders your Tesla point moot.

    Jeff HillJeff HillАй мурун
  • People talk about Citizens United too much and ignore Buckley v Valeo and First National Bank of Boston vs Bellotti.

    The God EmperorThe God EmperorАй мурун
  • Well, I don't know if it's a problem or not. But it's not gonna go away. Not until every damn one stops wanting to be the next billionaire.

    Kunal DoleKunal DoleАй мурун
  • Capitalism is a cancer that needs to be eradicated

    The UnintendedThe UnintendedАй мурун
    • You would love Mao Zedung.

      Star mastercStar masterc27 күн мурун
  • Hopefully humanity can transcend capitalism before it goes extinct. Fat chance though.

    Grave New WorldGrave New WorldАй мурун
  • They are definitely a pasty faced menace to society!

    Joshua AfroMagicJoshua AfroMagicАй мурун
  • Great content as usual! I wonder why you didn't address the creation of the Fed?

    Emmanuel LaflammeEmmanuel LaflammeАй мурун
  • Deep or Dumb? This time definitely dumb. You guys are normally so good at going deeper but here you just repeat the same simplistic, boring and frankly false narrative. Even if you are in the left spectrum wouldnt you want to give a mantra everybody has already heard like a million times a new perspective? That would be my standard as creative person. If I want to hear the same old rug I can visit the a young socialsts yt channel. Would you actually care and look deeper you would find that in the 1860-1900s in the free market average salaries doubled every decade and life improved drastically for everybody. You would also find that the elites once rich didnt want to compete anymore and used lobbyism to keep their competitors away through legislation and subsidize their businesses, which is all but a free market. And you would find that the increase of wealth among the 1% in recent years is not to ravaging neo liberalism but central bank inflicted asset bubble inflation which once again has noting to do with the free market. But it seems curiosity and creativity always come second to cherished beliefs..

    GigagagagamerGigagagagamerАй мурун
  • I don't really know if calling a "robber baron" whose wealth was the result of... scamming the government, and thus the taxpayer, and rigging the system in his favor a "philanthropist" for giving a small portion of that money back to those he deemed deserving is entirely accurate, tbh. If Robin Hood got his money by robbing the poor at gunpoint, he wouldn't be called a hero.

    HakkapeeleHakkapeeleАй мурун
  • Would you care if it didn’t make you money?

    L CGL CGАй мурун
  • For the western kids. MAny other kids around the world it’s a bit better

    L CGL CGАй мурун
  • This is the second worse of generation

    L CGL CGАй мурун
  • Good video. Simplify your lexicon.

    L CGL CGАй мурун
  • Democracy is Kleptocracy in the making

    Rich HornieRich HornieАй мурун
  • The difference between the robber baron days and now is TV. We have accepted a TV induced collective hallucination of the possibility of future wealth (that will never happen in reality).

    Dr. Eldon Tyrell-RosenDr. Eldon Tyrell-RosenАй мурун
  • *"And, for an instant, she stared directly into those soft blue eyes and knew, with an instinctive mammalian certainty, that the exceedingly rich were no longer even remotely human."* Marly Krushkhova and Josef Virek Count Zero by William Gibson (1986)

    Dr. Eldon Tyrell-RosenDr. Eldon Tyrell-RosenАй мурун
  • The 2021 storming of the United States Capitol was the closest the USA ever got to a working class Revolution in the last 100 years. Which was painted as a right wing terror squad by the media.

    Jurica SaponjaJurica SaponjaАй мурун
  • Tell me your very left wing without telling me your very left wing

    Henry BrooksHenry BrooksАй мурун
  • The United States just created a modern generally acceptable type of monarchy, which is capitalism.And it works so well because it gives everybody else hope to aspire to the top,if they work their butt off,calling it the American dream

    ode majode majАй мурун
  • Second Algorithm's boost

    Random ThingsRandom ThingsАй мурун
  • Algorithm boost

    Random ThingsRandom ThingsАй мурун
  • Whats with the wisecrack clickbait titles? Like what in gods fucking name do u mean what went wrong?

    Francis peñaFrancis peñaАй мурун

    The Bass is LoadedThe Bass is LoadedАй мурун
    • no rich people are blessed they deserve to be rich because the universe wanted them to be superior if you’re poor deal with it because you’re unlucky

      Icii _Icii _Ай мурун
  • They can screw right off to mars or wherever else they wanna go. "ohhhh but I donated this much to this thing - I built this thing." Still a dragon sitting on their treasure trove I'm sure.

    Fuzzy WizardFuzzy WizardАй мурун
  • Identity politics has destroyed class warfare.

    Jorge Quinta-NovaJorge Quinta-NovaАй мурун
  • Bitcoin should be transparent and it isn’t as easy as people thinks it is, there are so many strategies to be learnt and unfolded about Bitcoin trading

    Declan ThompsonDeclan ThompsonАй мурун
    • I don't usually do reviews but Earning x3 of my monthly salary from Mr Christopher trading account in just a week is overwhelming

      Мирослав УваровМирослав УваровАй мурун
    • Am I the only one who doesn't understand forex trading? Watching a documentary about it now and still don't know how to get it right

      Эдуард ТарасовЭдуард ТарасовАй мурун
    • Working under him management setup has Extraordinary is the right word for expert Mr Christopher, his experience as a trader is so unique...

      Ilaria NegriIlaria NegriАй мурун
    • Started up few hours ago but I'm already feeling the excitement of the profit outcome

      Beatrice DamicoBeatrice DamicoАй мурун
    • Started up few hours ago but I'm already feeling the excitement of the profit outcome

      Katherine BrownKatherine BrownАй мурун
  • Resistance is quiet because people are so damn isolated.

    Tyler MacDonaldTyler MacDonaldАй мурун
  • Thank you for this fucking video. God damn people need to learn this history instead of bullshit about how great Abraham was and the civil war.

    Tyler MacDonaldTyler MacDonaldАй мурун
  • Free market capitalism in the best system we have. It may have flaws but it gives chance for individuals with ideas to rise to the top

    Nikola IvanovNikola IvanovАй мурун
  • When you live in a materialistic culture that worships money, the uber rich become God's who you seek to mimic, not restrain. The religion the uber rich convert Americans to is called The Meriticracy. Americans "tithe" to the rich in the hopes that their gods will "trickle down" rewards for their sacrifice. Americans suffer to find favor with the billionaire gods so that they too may ascend to the heaven of hedonistic and cruel excess.

    Whank McSockpuppetWhank McSockpuppetАй мурун
  • Wait is that photo of Zuck real!? 🤣🤣

    FalsificationismFalsificationismАй мурун
  • this is so perfect

    first namefirst nameАй мурун
  • Money can't buy popularity... Me in Kenya: 👁️👃👁️

    Entropic PedroEntropic PedroАй мурун
  • 15:32 Flashback of Thug notes.

    Deonte RobinsonDeonte RobinsonАй мурун
  • Billionaires are the scum of the earth and I wish people would realize that if we band together we can't take them down

    LunaLunaАй мурун
  • Stock Stock Stock Stock Stock Stock Stock Stock Stock Stock Stock Stock

    Secretly a CelebritySecretly a CelebrityАй мурун
  • I look at it like this, regardless of what the ideology in power is, whether is communism, fascism or socialism, mercantilism or feudalism there will always be some small elite that holds the whip hand.

    Gotham's Dark knightGotham's Dark knightАй мурун
  • Eat the rich

    Alberto LaurellaAlberto LaurellaАй мурун
  • Too many billionaires, I reckon. Yes, Blair Mountain. I seem to recall that that was the biggest military operation on US soil outside of the Civil War.

    Jay DearienJay DearienАй мурун
  • Nice Grateful Dead shirt!!!

    Eric ZimmermanEric ZimmermanАй мурун
  • Cycles, patterns, rhymes, and repeats.

    Aeth AlpenglowAeth AlpenglowАй мурун
  • The reason the pushback hasn't happened as much yet as it will is we're still getting over the fact the USSR and China weren't/aren't socialist. The failure of those systems (that again aren't what they claim to be) plus the propaganda saying there is no alternative (plus things like technology) have made us forget what public ownership actually is. I'm pretty confident class consciousness will happen soon though and we will actually have real socialism (which isn't "when the government does stuff" it's democracy in the work place where employees get a say in how the company is run and decomodifcation of things that don't actually benifit from being comedified like healthcare, education, public housing etc) and then we can actually move into a world where we all actually can get out of poverty rather than just a few people having most of the wealth

    Smiley PSmiley PАй мурун
  • It’s simple, the existence of billionaires and mega corporations undermines democracy because too much power is in the hands of two few people. Secondly, it’s just poor economics. The more money one person has, means the less money everybody else has to spend in the economy. So they don’t spend it and the economy gets worse, or the central banks have to create more money which devalues the currency to try and keep the billionaires happy and give The illusion that the average person is making money, when it’s all credit or doesn’t even buy as much. If the last 30 years has taught us anything it’s not that your wages are too low, it’s that you just need to give people easier access to credit, which creates boom and bust cycles

    Conor SConor SАй мурун
  • The red scare made any change for the foreseeable future impossible. And probably after the foreseeable future climate change will destroy human civilisation. Act now or die later. The only thing the people can lose is the perceiption that they can become billionaires themselves... I mean chains

    Y_ IIIY_ IIIАй мурун
  • I had to immediately pause and read that article on tesla. Amazing what can happen right under your nose.

    Chudman00Chudman00Ай мурун
  • Soo, Let s read Marx ???

    Stegariu CostinStegariu CostinАй мурун
  • Billionaires are humans. When all you have is a hammer, everything looks like a nail. I'm convinced if we handed the reins of the economy over to children, there would be post-scarceity in a generation. A while ago I wanted to get into CRISPR to cure ageing, but I don't think a cure for ageing bodes well for any human living today. We need to fix the cultural/ideological issues first.

    Timothy BellTimothy BellАй мурун
    • "The last balloon is Leaving, The last balloon from fear, The last balloon is leaving, Form that line right here. Climb aboard, climb aboard, You men folk, You won't need any bombs of knives, Climb aboard, climb aboard, You men folk, Leave all that to your former lives. Climb aboard, climb aboard, You women, You won't need any gems or furs, Climb aboard, climb aboard, You women, Leave all that to the bad old years. Climb aboard, climb aboard, You children, Move aloft with your feet, and fast, Climb aboard, climb aboard, You children, We're weighed down by our evil past. Drop us all, You should drop us all, Drop us all and free your head."

      Timothy BellTimothy BellАй мурун
    • Because kids are anti-fragile and feel empathy for their peers readily. They haven't learned to suppress it yet.

      Timothy BellTimothy BellАй мурун
  • 6:22 This is misleading. If those Automakers _actually created and sold_ electric cars/fuel efficient vehicles, they *would not have to purchase carbon credits* from a company such as Tesla...

    SmallTownGamerSmallTownGamerАй мурун
  • Please do the philosophy of the weekend

    Blessing FakudzeBlessing FakudzeАй мурун
  • They exist, that’s what went wrong

    Leo HarrisonLeo HarrisonАй мурун
  • Unlike Kleptocrachies of the past, America provides something a bit above soul-crushing poverty to the majority of its labor class. As long as most of us have a roof, a bed, a tv, and food, we won't risk our lives and freedom to overthrow the owning class.

    RJ EhlertRJ EhlertАй мурун
  • capitalist propaganda has become extremely successful, that's why

    Edgar Allen HoeEdgar Allen HoeАй мурун
  • Cant wait for the next 5 generations to look back at our time and say "Yea this shit was ridiculous." One poor kid will be forced to read the opening chapter about minimum wage workers

    TheLonely KloudTheLonely Kloud2 ай мурун
  • What went wrong is that billionaires are a major ologistical error that results from capitalism, a mathematically broken economic system.

    fl00fydragonfl00fydragon2 ай мурун
  • Had no access to

    Jason CombsJason Combs2 ай мурун
  • Unsubscribed because of the stupidity of this video 😂

    watchdealer11watchdealer112 ай мурун
  • When you have an 11th grader understanding of economics 🤡

    watchdealer11watchdealer112 ай мурун
  • This video is shit...really old hat.

    Quentin BrowneQuentin Browne2 ай мурун
  • Kill'em alll!!!!!

    Duda SaintsDuda Saints2 ай мурун