Uber-Wealthy Capitalist Gave a TED Talk -"Rich People Don't Create Jobs"- And TED Refuses to Post It

[progressoid]

Last edited Thu May 17, 2012, 12:12 PM - Edit history (1)

This Uber-Wealthy Venture Capitalist Gave A TED Talk Saying Rich People Don't Create Jobs — And TED Is Refusing To Post It


As the war over income inequality wages on, super-rich Seattle entrepreneur Nick Hanauer has been raising the hackles of his fellow 1-percenters, espousing the contrarian argument that rich people don't actually create jobs. The position is controversial — so much so that TED is refusing to post a talk that Hanauer gave on the subject.

...

In an email obtained by the National Journal, TED curator Chris Anderson told his colleagues that Hanauer's speech “probably ranks as one of the most politically controversial talks we've ever run, and we need to be really careful when” to post it. He added: “Next week ain't right. Confidentially, we already have Melinda Gates on contraception going out. Sorry for the mixed messages on this.”

TED regularly posts speeches about sensitive political issues, including global warming and contraception, so it's not clear why Hanauer's talk would be singled out for censorship.

We've emailed Hanauer to see what he thinks, but in the meantime, here's an excerpt for you to judge for yourself:

I can say with confidence that rich people don't create jobs, nor do businesses, large or small. What does lead to more employment is a "circle of life" like feedback loop between customers and businesses. And only consumers can set in motion this virtuous cycle of increasing demand and hiring. In this sense, an ordinary middle-class consumer is far more of a job creator than a capitalist like me.

So when businesspeople take credit for creating jobs, it's a little like squirrels taking credit for creating evolution. In fact, it's the other way around.

Anyone who's ever run a business knows that hiring more people is a capitalists course of last resort, something we do only when increasing customer demand requires it. In this sense, calling ourselves job creators isn't just inaccurate, it's disingenuous.

That's why our current policies are so upside down. When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer.

Read more: http://www.businessinsider.com/this-billionaire-venture-capitalist-gave-a-ted-talk-saying-rich-people-dont-create-jobs--and-ted-is-refusing-to-post-it-2012-5?utm_source=inpost&utm_medium=seealso&utm_term=&utm_content=1&utm_campaign=recirc#ixzz1v8r46Xx2

Edited to add link to the TED website: http://www.ted.com/

TED is a nonprofit devoted to Ideas Worth Spreading. It started out (in 1984) as a conference bringing together people from three worlds: Technology, Entertainment, Design. Since then its scope has become ever broader. Along with two annual conferences -- the TED Conference in Long Beach and Palm Springs each spring, and the TEDGlobal conference in Edinburgh UK each summer -- TED includes the award-winning TEDTalks video site, the Open Translation Project and TED Conversations, the inspiring TED Fellows and TEDx programs, and the annual TED Prize.

[Odin2005]

1. Who funds TED?

Cui bono?

[Fawke Em]

3. What is TED, for that matter?

[progressoid]

4. TED: ideas worth spreading...

http://www.ted.com/

TED is a nonprofit devoted to Ideas Worth Spreading. It started out (in 1984) as a conference bringing together people from three worlds: Technology, Entertainment, Design. Since then its scope has become ever broader. Along with two annual conferences -- the TED Conference in Long Beach and Palm Springs each spring, and the TEDGlobal conference in Edinburgh UK each summer -- TED includes the award-winning TEDTalks video site, the Open Translation Project and TED Conversations, the inspiring TED Fellows and TEDx programs, and the annual TED Prize.

[marias23]

26. TED is terrific

Go the TED website and be amazed by brilliant, stimulating (short) lectures by super accomplished people. Last night I watched one by a woman who is going to create a program in which everyone in the world will watch a movie AT THE SAME TIME that will dispel fear of the "other. These are people with big ideas and big accomplishments. Take advantage of it. Ted.com

[Hassin Bin Sober]

11. I just discovered them on Netflix streaming.

Some fascinating stuff.

I remember reading about this researcher who says some people living today might live to 1000 years old.

Here is his contribution to TED (Ted only gives the speaker like 18 minutes):

[chervilant]

45. Geez...

This guy sounds like a latter day Ponce de Leon, touting the existence of the proverbial Fountain of Youth.

[Hassin Bin Sober]

48. It's science. Not magic.

[chervilant]

49. Indeed.

And, science is a double-edged sword, as is abundantly evident from the 'scientific' response to Fukushima.

[HiPointDem]

17. TED is funded through conference ticket sale revenue, sponsorships, advertisements, and

private donations. The TED IRL conferences run over $7,000.00 a ticket....

The TED IRL conference receives funding from various types of sponsorship opportunities, which can range from in-kind to monetary. TED sponsorships start at $50,000.00 and go up beyond one million dollars (for programs such as TED Special Projects). Current sponsors include Google, GE, AOL,
Goldman Sachs, The Coca-Cola Company, Tiffany & Co., Johnson & Johnson, along with
various others....

Online, advertisements are an important part of revenue, particularly for the TEDTalks...

Information regarding private donations is not made public. However, according to the
Sapling Foundation’s 990 tax form filed in 2009, private donations over $5,000.00 come from 99 individuals or organizations in 2009... Donation sizes listed on the 990 ranged from $5,000.00 to $400,000.00....private companies such as Coca Cola donated $10,000.00, along with a few dozen individuals. Non-profit organizations that contributed to The Sapling Foundation include the Confra Institute and the Harrish Foundation... The largest donation was provided by the Fetzer Institute, an organization seeking “to build a more peaceful and harmonious global community” at $400,000.00, followed by individuals Mike and Jackie Bezos at $334,080.00....

http://www.american.edu/soc/communication/upload/Rosemari-Ochoa.pdf

Bezos = Amazon.com. He's also on TED's "Brain Trust," as are Bill Gates, Larry Page (Google), Sergei Brin (Google), Scott Cook (Intuit).

Looking over the roster it looks like a gathering of the tech/genetics/finance/intelligence community, with a couple of faces for show (Meg Ryan).

TED Talks for the most part represent a limited POV, and it's the view of tech-loving rich people who think they should be in charge of the world.

One can easily understand why the idea that "rich people don't create jobs" would be so very very "controversial" to such people, and kudos on the rich person who said it to this audience.

What a joke. Transhumanism not controversial to these assholes but that rich people might not be "job creators" -- ooooh, sacrilege.

On edit: the more I look into hanauer's background, the more i wonder if this story isn't sort of phony and run just to pique interest in hanauer's talk. He seems to be closely associated with the Gates in their attack on public education and their push for an income tax in washington state.

[progressoid]

19. 7K for a ticket?

[DaveJ]

23. I wonder what makes TED so special

Yeah they get the great speakers, but otherwise, anyone could do the same thing in their backyard with a cameraphone.

If TED disappeared, someone else, less expensive, less elite, would take their place in a nanosecond.

[HiPointDem]

41. apparently so. which tells you who the speeches are aimed at.

[marias23]

29. These (short) presentations are a gift to the world

Don't listen to this guy with no-nothing attitude. here is nothing to dislike here - these (short) presentations are a gift to the world. TED stands for technology/entertainment and design. Look on the home page and you see people from all areas. Some of the "assholes" as he calls them: Dr. Brilliant ended smallpox, conductor Micheal Tilson Thomas, juggler Chris Bliss, former poet laureate Billy Collins, and technologists- a theme which if you haven't noticed is the dominant force of our time (like the web we are using now). TED.com

[HiPointDem]

31. i've seen some of the talks. i don't think there's anything so exceptional about them generally

(nothing different than similar talks sponsored by universities) & i actually find the assumptions & thought processes behind some of them pernicious and disgusting, as i find a lot of the assumptions and thought processes of the 1%.

sorry.

[marias23]

33. Provide examples

"Pernicious and disgusting?" Don't be sorry, provide examples. And what if there are other similar lectures? (To my [and others] limited minds they are interesting and educational. (I only have law degree and have coauthored 10 books.) And many people don't have access to university lectures . TED provides a vehicle for more to hear. I really would like to know what the "assumptions & thought processes behind some of them [which you find] pernicious and disgusting."

[HiPointDem]

38. i don't remember the speakers particularly but some of the stuff on transhumanism i found

abhorrent, some of the stuff on genetic engineering, some on education, and some on urban gardening-type stuff. Not so much for what was explicit, but for what was implicit and unexamined.

I have no problem with people hearing their lectures (though with the price tag for entry, most are going to hear it over the net.). I do have a problem with how the POV of a wealthy, techie, ruling-class segment monopolizes discussion, one that has already demonstrated it will roll over any person or group that stands in the way of it getting what it wants and will push for its objectives through subterfuge, propaganda, manipulation of the press, infiltration and bribery and shutting down of dissenting voices.

BTW, I didn't need your resume. I judge DU posters by their posts, not their credentials.

[FreeBC]

39. I agree

I loved the idea of TED, but then when I watch them I am not often very impressed.

[Bettie]

2. Good to hear 1 percenters say this

I'm so sick of the "job creators" meme.

We're all job creators.

[renate]

5. that's so disappointing!

TED talks are supposed to throw new light on the subjects of their talks. I can't believe TED would censor anything as long as it wasn't libelous, so this is really disappointing.

[progressivebydesign]

10. Sounds more like they don't want to upset Bill and Melinda Gates..

.. who helped create millions of jobs!! (in India.)

[HiPointDem]

37. nah, the guy has been closely associated with gates in his efforts to install an income tax in

wa. state & charter schools and other education "reform" there as well.

i lean toward one of two possibilities: either this is just hype to increase visibility of the presentation, or there's some kind of internal conflict among the ted-sters.

[gateley]

42. It was more Gates Sr. who was spearheading the tax thing, but I agree, Hanauer is involved

in some very worthwhile efforts here. And his venture capital company is the antithesis of Bain.

[HiPointDem]

43. you misread me. i'm suspicious of all things gates, so i'm now suspicious of hanauer by

association, lol.

[gateley]

50. Gates, Sr., along with some other well-heeled denizens, tried to introduce a State income Tax for

the wealthy. It was something that you or I might have written. Jeff Bezos (amazon), Howard Schultz (Starbucks) and others backed a campaign against it (that was right out of the Republican play book). I personally know a co-sponsor and her family has always done a lot for the State and those in need. In this instance anyway, this Gates was doing the right thing.

Hanauer also has a good rep for doing the right thing, although his name isn't as well known as Gates.

There ARE some genuinely good über wealthy people, and I believe Gates, Sr. And Hanauer are among them.

[raouldukelives]

14. Indeed. nt

[CTyankee]

6. What is TED? Sorry, I am lame...

[progressoid]

8. Edited to add a link to their website.

http://www.ted.com/

They have some interesting, provocative things there. I'm kind of surprised they shied away from this.

[marias23]

34. and lazy

google

[CTyankee]

35. sorry to bother you so.

But I hope you have a nice day anyway...

[MagickMuffin]

7. Sounds like they are going to post it at some point in the future

TED curator Chris Anderson told his colleagues that Hanauer's speech “probably ranks as one of the most politically controversial talks we've ever run, and we need to be really careful when” to post it.

So, I guess the question should be, When will they post it?


Be sure to let us know when it gets posted, it sounds like an interesting topic. But of course we already knew this info, but it's good to hear a top 1%er exposing the charade.

[SunSeeker]

9. Of course they "need to be really careful."

Hanauer's speech exposes their naked emperors' asses.

[Bake]

12. They'll post it ... right after the election.

I'm disappointed.

Somebody once said "You shall know the truth, and the truth shall set you free."

Not if TED can help it, apparently.

Bake

[Zalatix]

13. After the election, indeed. It's a pity that articles like this don't hit the Twitterverse very hard

We could literally tweet this stuff to the top of Twitter and force it to become news.

[chervilant]

47. For me,

this is the most relevant, defensible point of his speech:

Since 1980 the share of income for the richest Americans has more than tripled while effective tax rates have declined by close to 50%.


If it were true that lower tax rates and more wealth for the wealthy would lead to more job creation, then today we would be drowning in jobs. And yet unemployment and under-employment is at record highs.

[Spike89]

15. Where is the refusal/censorship?

Every publishing endeavor has to schedule features. One of the best things about the TED presentations is the high prestige and straightforward nature of the content. They certainly can and do tackle highly controversial topics and have a great reputation for standing behind their content/speakers.
We need high-quality, non-politicized sources and venues for discussing the big issues of our times. I'll be terribly disappointed if TED does bury this or any other presentation because it doesn't pass some ideological litmus test, but that doesn't appear to be what has happened at this point. Rather, it sounds as if this is all about timing and finding an opportunity to present this talk when it is likely to be most effective.
Every editor needs to know the difference between news and features. Sitting on news is almost always a bad idea, but throwing every good feature immediately into the pot is also a bad idea. There are always tons of factors that should be considered when deciding a "run list". It is very premature to accuse TED of killing this feature (in fact, it sounds like they are very interested in running it) and cries of censonship simply aren't warranted at this point.
For all I know, the presentation isn't up to TED standards. Just because someone says something controversial, or even brilliant, doesn't mean they say it well, or back up their points effectively.

[progressoid]

22. "But even if the talk was rated a home run, we couldn't release it..."

I just found this.

In a May 7 email to Hanauer, forwarded to NJ, Anderson took issue with several of Hanauer's assertions in the talk, including the idea that businesspeople aren't job creators. He also made clear his aversion to the "political" nature of the talk.

"I agree with your language about ecosystems, and your dismissal of some of the mechanistic economy orthodoxy, yet many of your own statements seem to go further than those arguments justify," Anderson wrote.

"But even if the talk was rated a home run, we couldn't release it, because it would be unquestionably regarded as out and out political. We're in the middle of an election year in the US. Your argument comes down firmly on the side of one party. And you even reference that at the start of the talk. TED is nonpartisan and is fighting a constant battle with TEDx organizers to respect that principle...."Nick, I personally share your disgust at the growth in inequality in the US, and would love to have found a way to give people a clearer mindset on the issue, without stoking a tedious partisan rehash of all the arguments we hear every day in the mainstream media.

"Alas, my judgment - and it is just a judgment, and that's why my job title is 'curator' - is that publishing your talk would not meet that goal."

http://nationaljournal.com/features/restoration-calls/too-hot-for-ted-income-inequality-20120516

[DaveJ]

27. So they can't tell the truth

So they can't tell the truth because the Repukes tell lies, and therefore the truth would be too political.

So as long as there are idiots out there telling lies, the truth will be off limits!?!?

[Egalitarian Thug]

16. Disappointing, but not surprising.

TED has been dependent on the largess of elites since its formation. So if you're a super clever technophile that figures out to turn your Wii into a 3-D navigation system, fine. But don't expect to be granted a microphone if you want to point out inconvenient truth about where we are and how we got here.

K&R

[valerief]

18. He's right. And why do we need jobs? To pay taxes! nt

[lurky]

20. They're funded by donations from rich people and corporations.

They don't want to bite the chubby little fingers that feed them.

[DaveJ]

21. If billionaires all disappeared we'd be better off

The alternate argument is like saying someone who eats enourmous amounts is a food creator!

People who work keep the economy moving. People who sit back and collect dividends contribute nothing.

[progressoid]

24. The entire speech is online here:

It is astounding how significantly one idea can shape a society and its policies. Consider this one.

If taxes on the rich go up, job creation will go down.

This idea is an article of faith for republicans and seldom challenged by democrats and has shaped much of today's economic landscape.

But sometimes the ideas that we know to be true are dead wrong. For thousands of years people were sure that earth was at the center of the universe. It's not, and an astronomer who still believed that it was, would do some lousy astronomy.

In the same way, a policy maker who believed that the rich and businesses are "job creators" and therefore should not be taxed, would make equally bad policy.

MORE (it's not very long):
http://roundtable.nationaljournal.com/2012/05/the-inequality-speech-that-ted-wont-show-you.php

[pokerfan]

30. He should take it to RSA if TED won't host it

It seems like it would be perfect for an RSA Animate.

The RSA (Royal Society for the encouragement of Arts, Manufactures and Commerce) is an enlightenment organisation committed to finding innovative practical solutions to today’s social challenges.

[Uncle Joe]

25. It should be called demand and supply, not the other way around,

demand is the driving force.

Thanks for the thread, progressoid.

[ananda]

28. What's controversial about the truth?

Hmmm?

[Sam1]

46. I would suggest it's

liberal bias.

[progressoid]

32. Thanks to DUer MindMover for posting the video!

http://www.democraticunderground.com/101729161

[ErikJ]

36. Couple of good quotes from his commentary last Nov.

We’ve had it backward for the last 30 years. Rich businesspeople like me don’t create jobs. Middle-class consumers do, and when they thrive, U.S. businesses grow and profit. That’s why taxing the rich to pay for investments that benefit all is a great deal for both the middle class and the rich.

Hanauer also makes a great point that the wealthy do not spend the same proportion of their income as an average individual just because they're rich:

The annual earnings of people like me are hundreds, if not thousands, of times greater than those of the average American, but we don’t buy hundreds or thousands of times more stuff. My family owns three cars, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. Like everyone else, I go out to eat with friends and family only occasionally.

He admits to one big splurge: his family owns an airplane. But the plane was made in France, and most of the money for its upkeep is spent on fuel, which Hanauer points out comes from the Middle East. So again, how is his ability to pay for the plane (probably partially through the fact that he only got taxed 11% on an 8-figure income) more beneficial than hiring a teacher or another civil servant?



Read more: http://articles.businessinsider.com/2011-12-01/wall_street/30462149_1_job-creation-contrarian-view-middle-class#ixzz1vA5H8KfD

[rocktivity]

40. More, and link to video

http://www.democraticunderground.com/?com=view_post&forum=1016&pid=28610

Video:
http://www.democraticunderground.com/?com=view_post&forum=1017&pid=29161

Petition:
http://www.change.org/petitions/ted-post-the-income-inequality-ted-talk-already

Let's get this out to our liberal talkers, too.


rocktivity

[madrchsod]

44. the people who run TED are censoring the truth?

i really did`t think they were that afraid of the truth. sometimes reality is harsh for those who live in another world