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December 12, 2011

Harry Reid: Millionaires Who Create Jobs Are "Actually Like Unicorns, Impossible to Find. They Don't Exist."

You know who's a millionaire?


Also Nancy Pelosi.

And also, I think, Harry Reid.

Thanks to DrewM.

Stupid Is Contagious: Harry Reid is probably riffing off this insipid column, making the same claim.

Im a very rich person. As an entrepreneur and venture capitalist, Ive started or helped get off the ground dozens of companies in industries including manufacturing, retail, medical services, the Internet and software. I founded the Internet media company aQuantive Inc., which was acquired by Microsoft Corp. in 2007 for $6.4 billion. I was also the first non-family investor in Amazon.com Inc.

Even so, Ive never been a job creator. I can start a business based on a great idea, and initially hire dozens or hundreds of people. But if no one can afford to buy what I have to sell, my business will soon fail and all those jobs will evaporate.

Stop the tape, stop the tape, Mr. Snerdley, as Rush Limbaugh says.

Guy says he's never created a job, and to prove that, immediately launches into a schpiel about all the dozens or hundreds of people he hires with a new project.

Then he says, well, you know, if they can't sell my product, those jobs disappear.

But you're a rich guy, according to your own self-description. That means that in a majority of your start-up ventures, you did not in fact go bankrupt, losing your original stake-money.

That means that in the majority of cases, those "dozens or hundreds" of people you hired kept their jobs.

This is remarkably stupid. This is America in the second decade of the second millennium.

I am actually moving away from the question of "Can America survive?" to "Should America survive?"

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posted by Ace at 03:47 PM

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