Please verify

Watch LIVE

Venture Capitalist Apologizes for 'Kristallnacht' Comparison -- but Doubles Down On...


"The one percent are not causing the inequality..."

Image: Bloomberg

Venture capital guru Tom Perkins has not apologized for writing a controversial letter that appeared in the Wall Street Journal over the weekend. However, he did apologize for using the word "Kristallnacht" in that letter.

After being criticized by the Anti-Defamation League (and others) for comparing the demonizing of wealthy Americans to the Nazi persecution of Jews that started with Kristallnacht, the self-made multi-millionaire appeared on Bloomberg TV to make a public apology for using the term and making the comparison. He did attempt to clarify what he meant by saying, "When you start to use hatred against a minority, it can get out of control."

Image: Bloomberg

After apologizing for using Kristallnacht, Perkins took the opportunity to reiterate his belief that wealthy people are not the cause of problems in the American economy, stating, "The one percent are not causing the inequality. I think Kleiner Perkins (the venture capital firm he co-founded)  has created pretty close to a million jobs, and we're still doing it."

The Silicon Valley mogul continued to support his thinking, speaking about wealthy Americans, "They are job creators. It's absurd to demonize the rich for doing what they do…which is getting richer and creating opportunity for others."

When asked about a solution to the economic inequality, Perkins offered the following answer, "I think, the solution is less interference, lower taxes…let the rich do what the rich do, which is get richer. But along the way, they bring everybody with them when the system is working."

Watch the full interview here:

Follow Mike Opelka on Twitter @stuntbrain


Most recent
All Articles