“Behind every great fortune lies a great crime” ... French novelist Honoré de Balzac
No one disputes the fact that the global pandemic threw us all under the bus. Some of us got sick. Some of us lost loved ones. Others lost jobs. Others reaped the benefits. At Inequality.org, journalist Chuck Collins recently shared some statistics concerning the ever-increasing disparity between billionaires and average folks. In a nutshell, the rich not only got richer – they got a lot richer.
Pandemic profiteers like Musk and Bezos made out like bandits and the figures are jaw-dropping. At the start of the pandemic, Tesla CEO Elon Musk was worth about $25 billion dollars; two years into the pandemic his wealth had surged to $255 billion. When last checked – March 18, 2024 – Musk is at $188.5 billion. That’s more than a seven-fold increase in four years.
At the same time, Amazon founder Jeff Bezos’ wealth has soared from $113 billion to 192.8 billion – even after donating tens of billions to charity and paying out tens of billions more in a divorce settlement with his now ex-wife, MacKenzie Scott.
Speaking of Ms. Scott, she’s the only billionaire on the 2020 top 15 wealthiest Americans list to see a decline in her wealth decline from a net worth of $36 billion in 2020 to $35.4 billion due to her generous giving to charity. At least someone has their values in check.
In 2022 the U. S. Bureau of Labor Statistics summed up one study of COVID’s impact on those of us who were just trying to keep our heads above the water line:
The pandemic disrupted lower-paid, service-sector employment
most, disadvantaging women and lower income groups at least
temporarily, and this may have scarring effects...Higher-paid
workers tend to gain more from continuing opportunities to
telework. Less-advantaged students suffered greater educational
setbacks from school closures. School and daycare closures
disrupted the work of many parents, particularly mothers. We
conclude that the pandemic is likely to widen income inequality
over the long run, because the lasting changes in work patterns,
consumer demand, and production will benefit higher income
groups and erode opportunities for some less advantaged groups.
The U. S. Bureau of Labor Statistics got it right. Income inequality grew like cancer cells in the course of the pandemic. Collins’ data tells us that in March 2020 the U. S. harbored 614 billionaires worth $2.947 trillion. In March 2024 the number of billionaires had grown to 737 billionaires worth $5.529 trillion.
If not always illegal, this vast increase in billionaires' wealth has deadly consequences.
In 2022 Oxfam International published Inequality Kills, a report detailing how inequality “is contributing to the death of at least 21,000 people each day, or one person every four seconds. This is a conservative finding based on deaths globally from lack of access to healthcare, gender-based violence, hunger, and climate breakdown.”
Oxfam’s International Executive Director Gabriela Bucher made it quite clear just what led to that perilous state of affairs:
Central banks pumped trillions of dollars into financial markets
to save the economy, yet much of that has ended up lining the
pockets of billionaires riding a stock market boom. Vaccines
were meant to end this pandemic, yet rich governments allowed
pharma billionaires and monopolies to cut off the supply to
billions of people. The result is that every kind of inequality
imaginable risks rising. The predictability of it is sickening.
Fixing – or at least ameliorating – inequality is no easy task. The recommendations of the Peterson Institute for International Economics include: governments need to address inequality directly and specifically; taxes and spending programs must be progressive and benefit others than the wealthy; novel approaches must replace tired, by-the-book policy.
Whatever remedies one favors to deal with the obscene inequality of wealth here and elsewhere, the time to act is now. As Oxfam’s Bucher says: “The consequences of it kill.”
Meet Clearview AI, a Terrifying New Facial Recognition Software
The company claims over 600 law enforcement agencies use their app, but in the wrong hands, it could pose extreme dangers. Here's an explainer.
Imagine you're at a bar and you see a person you find attractive.
You sneakily take a photo of them, and use that photo in an app that pulls up every public photo of that person available online. Links to each photo are also provided, meaning you can find out this person's name, workplace, hometown, friends, and more, without even talking to them. An app called Clearview AI has made the potential for this situation a reality.
Recently, New York Times reporter Kashmir Hill investigated the tiny start-up that's taking revolutionary steps in facial recognition technology. Clearview AI was developed by Hoan Ton-That, a San Francisco techie by way of Australia, who marketed the app as a tool for law enforcement to hunt down their victims. Clearview's database contains over three billion images scraped from millions of websites; the premise is, when you take a photo of a person, you can upload it and see public photos of that person and access links to where those photos are from.
Facial Crowd Recognition Technology Getty Images
Though this sounds like a remarkable tool for law enforcement, Clearview poses severe threats to privacy if placed in the wrong hands. As Hill described in her appearance on Times podcast The Daily this week, someone with malicious intent could theoretically take a photo of a stranger, upload it to Clearview, and uncover personal information like that person's name, where they work, where they live, and who their family members are. In short: the concept is so risky that companies who were able to do the same thing first, like Google, refused to.
Still, Clearview claims that over 600 law enforcement agencies have been using the app, although they've kept their list of customers private. Clearview's investors have cited the app's crime-solving capabilities as a means to back it; Clearview has already helped track down suspects on numerous accounts. But, as Hill's reports found, the app isn't always perfect and might not be fully unbiased; "After the company realized I was asking officers to run my photo through the app, my face was flagged by Clearview's systems and for a while showed no matches," Hill wrote. "When asked about this, Mr. Ton-That laughed and called it a 'software bug.'" Later, when Ton-That ran another photo of Hill through the app, it pulled up a decade's worth of photos—many of which Hill didn't even realize were public.
"Our belief is that this is the best use of the technology," Ton-That told Hill. But is Clearview's usefulness in law enforcement worth leaving our privacy behind every time we leave the house?
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