There are plenty of wealthy people that are more focused on maintaining relative position in the hierarchy than they are on increasing their absolute amount of wealth.
Prime example is oil wealth. With their massive coffers, fossil fuel companies could be leading the transition to renewable energy, massive increasing human wealth as they drive the cost of energy down and drive their former competitors out of business by acquiring all the new renewables startups that will become the large companies of the future.
Tech, and the HN crowd in general, pursues a strategy of generally increasing the pie size, of disrupting themselves before somebody else disrupts them. But that is not the case for the majority of the economy in developed countries. And in undeveloped countries it's painfully easy to see so many wealthy people maximizing their own position in society over maximally growing their wealth.
Prime example is oil wealth. With their massive coffers, fossil fuel companies could be leading the transition to renewable energy, massive increasing human wealth as they drive the cost of energy down and drive their former competitors out of business by acquiring all the new renewables startups that will become the large companies of the future.
Tech, and the HN crowd in general, pursues a strategy of generally increasing the pie size, of disrupting themselves before somebody else disrupts them. But that is not the case for the majority of the economy in developed countries. And in undeveloped countries it's painfully easy to see so many wealthy people maximizing their own position in society over maximally growing their wealth.