00:00:00
Larry and Sergey have left the state and they're probably getting dragged for
00:00:03
that. But one of the reasons why I think they kind of have to is because of the super voting stock provision in this
00:00:10
thing where the way they calculate the value of your stock is not based on its liquid market value, but if you own
00:00:16
super voting shares, they multiply your ownership, your super voting by the market cap of the company and they deem
00:00:23
your shares to be worth that. Yeah. So for example, Larry and Sergey, I think they combined have voting power of about
00:00:30
52% of Google. So what's Google worth these days? About 4 trillion. But now I
00:00:35
guess each one of them would be deemed to be roughly 1 trillion each. Not the call it 200 billion. So the 5% tax for
00:00:43
them is more like a 25% tax of all their net worth. it becomes 50 because you'd
00:00:48
have to sell more than that to overcome the drag of selling to generate 25 billion or 50 billion of net worth. You
00:00:54
have to sell 2x that because you have to pay taxes on that, >> right? So now what what is the point of
00:00:58
having that super voting provision in there? It's just totally punitive and vicious.