Should billionaires be allowed to exist?

I work at a startup, so I see the math from the inside. Venture capital only works because one company in fifty becomes enormous and pays for the forty-nine that die. CB Insights has tracked this for years: most startups fail, usually because there was no market need (CB Insights). Investors fund the failures anyway, because the occasional billion-dollar outcome covers the losses. Cap wealth at some arbitrary number and you break that equation. Nobody funds fifty long shots if the payoff on the one winner gets confiscated at the finish line. The losers still lose, so the rational move is to fund nothing risky at all. That means fewer moonshots, fewer new industries, and, ironically, power concentrating in the giant incumbents who no longer face challengers. If you hate big tech's dominance, capping the upside of beating them is a strange way to fight it.