[ishansharma]

Couldn’t agree more. I read all his essays in my early 20s and became a huge fan. Not just startup advice wise, but general big picture stuff wise too.

Then I saw his recent tweets and especially the essay about wealth tax, I was a bit disappointed. But as you said, his position is well earned. But I don’t see any useful real life advice from him anymore.

[elevenoh]

>Then I saw his recent tweets and especially the essay about wealth tax, I was a bit disappointed.

Why? He points out [the non obvious to many fact] that wealth tax kills compounding.

And this is something to seriously consider.

[ishansharma]

It’s my opinion but that was a very one sided view. And I need to read more on this but I don’t think the way he pointed it out is how anyone is proposing wealth tax.

[darthrupert]

I wonder how he reacts to the knowledge of one of the wealthiest countries having a wealth tax. Switzerland. It's below 1%, progressive, though. 2-6% (as Sanders suggested, I think?) would probably be much more harmful.

[cinntaile]

He points out that a wealth tax compounds. It doesn't kill compounding, it just diminishes its effect in the same way that the TER for a mutual fund does.

[jedberg]

> Why? He points out [the non obvious to many fact] that wealth tax kills compounding.

His analysis was deeply flawed to the point of being disingenuous. For one, it assumed that your wealth never grows once you get it. And for two, it completely forgot that there is a baseline on the wealth tax (the current proposal is at $50M).

So no, it doesn't kill compounding, it just shrinks it a bit.

[cma]

Unless our lightcone starts growing faster than polynomially, compounding can't happen for very long.

[andrewprock]

"Suppose you start a successful startup in your twenties, and then live for another 60 years."

Yes, let's just assume this is true. Please!