Basement Whatever

At some point (says Brooks) the meritocrats won and became the new elite. Their anti-bourgeois ideas became the foundation of our modern values. But part of the elites’ job is to run the financial system, and another part is to enjoy being very rich. This was a bad match for bohemian anti-bourgeois values, so they added some layers of irony, detachment, and misdirection.

A meritocrat in good standing must be (for example) a quirky, free-spirited person who happens to have a passion for banking. And in the course of pursuing this passion, they happen to have made $300 million as the CEO of Amalgamated Bank. They didn’t become CEO in order to make the $300 million. They became CEO because they were passionate about transforming banking and expanding its reach to underrepresented minorities.

And they certainly didn’t spend the $300 million on a mansion in a ritzy part of New York with well-manicured grounds and legions of servants. They spent it on a rustic cabin by Lake Tahoe made from locally-sourced pine. Sure, it happened to be 20,000 square feet and have an IMAX-sized media room. But that wasn’t why they got it.
— Read on www.astralcodexten.com/p/book-review-first-sixth-of-bobos