E53: Wealth tax, inflation as a capital allocator, big tech earnings, paternity leave & more
- Oct 29, 2021
- 1:19:17
- Full Episode
Show Notes: 0:00 Bestie intro, child update, Joe Lonsdale’s take on paternity leave 20:44 Proposed “Wealth Tax” 35:13 Inflation discussion: corporate and government reactions 52:30 Dealing with inflation as a capital allocator 58:49 Big Tech’s outrageous quarterly earnings, why Google is the best business ever, Facebook’s “Meta” rebrand
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Referenced in the show: https://twitter.com/JTLonsdale/status/1453399478254379008 https://www.npr.org/sections/money/2019/02/26/698057356/if-a-wealth-tax-is-such-a-good-idea-why-did-europe-kill-theirs https://www.treasury.gov/resource-center/data-chart-center/interest-rates/pages/textview.aspx?data=yield https://www.npr.org/2021/10/28/1049980529/starbucks-and-costco-raising-wages-in-the-nationwide-competition-for-workers https://fred.stlouisfed.org/series/GFDEGDQ188S https://markets.businessinsider.com/news/currencies/crypto-investor-turned-8000-into-5-billion-buying-shiba-inu-2021-10 https://www.bloomberg.com/news/articles/2021-10-29/tesla-s-tsla-hidden-billionaire-how-one-retail-investor-made-7-billion https://finance.yahoo.com/quote/TOST/ https://www.wsj.com/articles/microsoft-overtakes-apple-as-most-valuable-company-11635516976 https://abc.xyz/investor/static/pdf/2021Q3_alphabet_earnings_release.pdf?cache=f1ba3f6 https://twitter.com/Jason/status/1450108244915937284 https://www.theverge.com/22743744/facebook-teen-usage-decline-frances-haugen-leaks https://vm.tiktok.com/TTPdYPqdJ6/
Brief Summary
The episode discusses Joe Lonsdale's controversial comments on paternity leave and the societal expectations of fathers.
Key points
- Joe Lonsdale's Controversial Tweet. Venture capitalist Joe Lonsdale sparked debate with his views on paternity leave, calling men who take extended leave 'losers.'
- Parenting Perspectives. The discussion shifts to the challenges of parenting and the varying roles of fathers and mothers.
- The Impact of Star Players. Discussing how the absence of key players affects high-performance teams.
- Chaos in Tax Legislation. The chaotic process of proposing a billionaire tax raises concerns.
- Concerns Over Inflation. A deep dive into the potential persistence of inflation and its causes.
- Private Sector vs. Government Action. Private corporations are stepping in where government policies have failed, raising wages and funding education.
Episode highlights
- Joe Lonsdale's Controversial TweetVenture capitalist Joe Lonsdale sparked debate with his views on paternity leave, calling men who take extended leave 'losers.'“Any man in an important position who takes six months of leave for a newborn is a loser.”1:31Oct 29, 2021
- Parenting PerspectivesThe discussion shifts to the challenges of parenting and the varying roles of fathers and mothers.“I couldn't ever take six months.”4:27Oct 29, 2021
- The Impact of Star PlayersDiscussing how the absence of key players affects high-performance teams.“You can't give up one of your 10 primary years.”19:19Oct 29, 2021
- Chaos in Tax LegislationThe chaotic process of proposing a billionaire tax raises concerns.“The process was insane!”22:20Oct 29, 2021
- Concerns Over InflationA deep dive into the potential persistence of inflation and its causes.“My worry is that it's here and it will be persistent.”35:13Oct 29, 2021
- Private Sector vs. Government ActionPrivate corporations are stepping in where government policies have failed, raising wages and funding education.“McDonald's and Starbucks raised their minimum wages while the federal minimum remains stagnant.”39:02Oct 29, 2021
- Inflation's Impact on ClassesInflation disproportionately hurts the middle and lower classes while the wealthy remain unaffected.“Inflation is devastating for the middle class.”40:52Oct 29, 2021
- The Power of Google and MicrosoftGoogle and Microsoft are dominating the market with extraordinary revenue growth and high margins.“There is no better business in the world than Google.”58:55Oct 29, 2021
