So, let me see if I understand this right: They took an investment of 70M at a valuation of 1000M, in a country that has a well-known 1% tax of valuation, but t

So, let me see if I understand this right: They took an investment of 70M at a valuation of 1000M, in a country that has a well-known 1% tax of valuation, but they failed to write payment of that tax into the funding papers and fled the country to dodge a 10M annual tax bill. To their complaint: Norway is exceedingly hostile to investments that do not result in Norwegian economic investment beyond the borders of a given business. The 1% tax on virtual wealth is explicitly targeting theoretical unicorns to ensure that VC funding is taxed. Here, the first year’s effective tax would have been 10M owed out of 70M invested, at 14%. Whether that’s excessive or not for an investment is worth discussing in the context of Norway’s normal corporate tax rate, 22-25%, which they do not do. I shouldn’t have had to do this math: their post, if it’s seriously intended to influence economic policy, should have at minimum laid out these figures. To their emotions: Were they not consulting with an accountant and a lawyer when they accepted the investment? Did they knowingly accept the investment and begin planning their exit from the country immediately? Is this a planned marketing campaign that uses taxation outrage to generate free PR for their company among taxation-hostile audiences that are more likely to pay a cryptocoin investment product? Given the data-free post and the apparent naïveté of their founder when faced with investment and taxation in Norway, when the focus of the business on providing investment advice — either this business deserves to collapse due to its founder’s incompetence, or this post is a honeypot trap for extracting PR wealth from the cryptocoin faithful. The post presents no new arguments against Norway’s valuation tax that weren’t already hashed out at length when it was first imposed, so I decline to give them free PR by engaging with their outrage. ps. While I largely disagree with Rand’s views, I am not unfamiliar with them. The implicit but unstated framing of their cryptocoin investor product as a peer of Reardon steel or Taggart Transcontinental here is laughable. No product is produced that stands above and apart from its peers, Rand would label their target customers as ‘moochers’, and their post is a coarse mockery of the impassioned monologues of Atlas. Their flight to Switzerland is no silent quitter abandonment of their enterprise, and they certainly would not be invited to the Gulch before the collapse.