3 ms·
I usually like how in-depth PG gets into topics he discusses. I felt like he barely scratched the surface here. For example, any proposed wealth tax only applie
by nindalf 6y ago
I usually like how in-depth PG gets into topics he discusses. I felt like he barely scratched the surface here. For example, any proposed wealth tax only applies to the wealthy. The number proposed by Senator Warren ("just two cents!") is wealth above $50 million [1]. PG says that startup founders would lose a majority of their wealth meaning there wouldn't be much point to starting up. But they'd have $50 million at least, and would lose up to half of wealth above that.
Is this really such a terrible outcome that people would avoid working on their startup? Are there founders out there who think "if I'm going to have less than $100 million when I'm 60, it's not worth it. I'll go elsewhere to start my business."
PG is actually in a great place to tell us how many startup founders leave their startup with greater than $50 million of wealth. If I had to guess I'd say not many, but it would have been nice to get hard data.
[1] - https://elizabethwarren.com/plans/ultra-millionaire-tax https://elizabethwarren.com/plans/ultra-millionaire-tax