5 ms·

I debated the Patagonia altruist marketing play with friends. The consensus was that if you were the kids, you'd much rather have the post-tax cash in your ban

I debated the Patagonia altruist marketing play with friends. The consensus was that if you were the kids, you'd much rather have the post-tax cash in your bank account. :-)

based69 4y ago
Whats more likely to result in your kids being upstanding members of society? 300 million cash in a bank account, or a job and board seat at a billion dollar charity for eternity and $20 million?
- caminante 4y ago
  > 300 million cash in a bank account, or a job and board seat at a billion dollar charity for eternity and $20 million? And what is the PV of that board seat at the family controlled charity/business that wasn't affected by an inheritance tax?
anonporridge 4y ago
You and your friends are likely broke in comparison to the Chouinards. It seems incredibly presumptuous to assume you know how the minds of children of billionaires work and what they aspire to have. This calls to mind a scene in the series "Succession" that I can't find now. The father and owner of the company is considering selling the company and cashing out, and his children, who have all been fighting for years to become his key successor, are up in arms about it, despite the fact that they would all become cash billionaires due to the shares in the company they already own. The gist is that having billions in cash effectively makes you a nobody compared to the person actually running a multi billion dollar company. As the leaders of a global media company, you're somebody important, compared to just some schmuck with a billion dollars. Then again, these characters are all have deep insecurity living in the shadow of their father, and he plays them all like a fiddle to keep them fighting each other for his approval.
- solveit 4y ago
  "You don't understand billionaires because you're not a billionaire. I, on the other hand, watched a satirical TV show, so naturally I have a deep understanding of how the minds of billionaire heirs work."
  - anonporridge 4y ago
    Lol. Totally fair comeback. I respect that.
  - caminante 4y ago
    The parent even contradicted himself. > Up to a certain point, more money doesn't make your life materially better. > It seems incredibly presumptuous to assume you know how the minds of children of billionaires work and what they aspire to have.
    - anonporridge 4y ago
      Not a contradiction. I've personally reached a point in my life where more money isn't making my life better, so I'm prioritizing other goals. Then again, I'm far from a billionaire, so perhaps there exists a valley of money disillusionment that I'm currently in, and more money starts getting desirable again further up the wealth ladder.
      - caminante 4y ago
        > Not a contradiction. Apparently, you misspoke because you're now limiting your view on the value of marginal dollars to your view (v. a general truth above).
- NickC25 4y ago
  If I could just be "some schmuck with a billion dollars" I'd be as happy as I could imagine it's possible to be. Not everyone wants the limelight, and if you can have that level of money and not be important...well, that's a position I'd kill to be in.

I debated the Patagonia altruist marketing play with friends. The consensus was that if you were the kids, you'd much rather have the post-tax cash in your bank account. :-)

based69 4y ago

Whats more likely to result in your kids being upstanding members of society? 300 million cash in a bank account, or a job and board seat at a billion dollar charity for eternity and $20 million?

caminante 4y ago
> 300 million cash in a bank account, or a job and board seat at a billion dollar charity for eternity and $20 million? And what is the PV of that board seat at the family controlled charity/business that wasn't affected by an inheritance tax?

anonporridge 4y ago

You and your friends are likely broke in comparison to the Chouinards. It seems incredibly presumptuous to assume you know how the minds of children of billionaires work and what they aspire to have. This calls to mind a scene in the series "Succession" that I can't find now. The father and owner of the company is considering selling the company and cashing out, and his children, who have all been fighting for years to become his key successor, are up in arms about it, despite the fact that they would all become cash billionaires due to the shares in the company they already own. The gist is that having billions in cash effectively makes you a nobody compared to the person actually running a multi billion dollar company. As the leaders of a global media company, you're somebody important, compared to just some schmuck with a billion dollars. Then again, these characters are all have deep insecurity living in the shadow of their father, and he plays them all like a fiddle to keep them fighting each other for his approval.

solveit 4y ago
"You don't understand billionaires because you're not a billionaire. I, on the other hand, watched a satirical TV show, so naturally I have a deep understanding of how the minds of billionaire heirs work."
- anonporridge 4y ago
  Lol. Totally fair comeback. I respect that.
- caminante 4y ago
  The parent even contradicted himself. > Up to a certain point, more money doesn't make your life materially better. > It seems incredibly presumptuous to assume you know how the minds of children of billionaires work and what they aspire to have.
  - anonporridge 4y ago
    Not a contradiction. I've personally reached a point in my life where more money isn't making my life better, so I'm prioritizing other goals. Then again, I'm far from a billionaire, so perhaps there exists a valley of money disillusionment that I'm currently in, and more money starts getting desirable again further up the wealth ladder.
    - caminante 4y ago
      > Not a contradiction. Apparently, you misspoke because you're now limiting your view on the value of marginal dollars to your view (v. a general truth above).
NickC25 4y ago
If I could just be "some schmuck with a billion dollars" I'd be as happy as I could imagine it's possible to be. Not everyone wants the limelight, and if you can have that level of money and not be important...well, that's a position I'd kill to be in.