The title is the TLDR, that's pretty much it, but if you want more fun details, here you go.
I was laid off yesterday (third round of layoffs in a year) by my boss who is one of those SUPER old money with insane generational wealth. She married someone exactly like her and they spend all their time starting businesses and killing them slowly with incompetence. I've only been there two years but they've already killed at least 7 businesses they've started since I've known them. Of course it doesn't matter to them because they have endless amounts of money to play pretend -entrepreneur from now until they die.
Part of it is genius, though. They create companies for ancillary services for our industry (don't want to get into specifics there), and then they create crappy companies and require them to use those services. So they line their pockets directly with easy money while the actual businesses fail without support or anyone to actually run them. Then they shut down the business after screwing over whatever investors they've bamboozled out of startup cash. They walk away richer every time they fail, it's truly amazing.
Meanwhile employees like me that they recruited with a higher salary than others were paying find out quickly that we were tricked into a business built with spit and toothpicks. I left a stable job to go work there; I know I couldn't have known it was all a sham but it still stings that I was tricked into it.
That's all. Screw the 1%. Thanks for listening.