High status is raising a loving family. In an increasingly artificial world, it’s one of the few things that will always give you real joy. Socialists are basically influencers who weaponize a narrative to steal your money for a destructive anti-creator fund.
I love California and lived in LA for many years, it was great but never home.
As for billionaires and trillionaires I think a lot about who is the best steward of capital. We used to tax the richest at 91%. If the government would use that money to invest in a vital citizenry and economy then I might argue for that. Giving away money can be as hard and complicated as making it. The current wealth imbalance is bad for society in the long run. There doesn’t need to be a full redistribution of wealth to change that but the current situation benefits none in the long run.
Jack, I find several claims in your newsletter to be both incorrect and very troubling.
1. First, on the topic of International Development and Humanitarian Assistance, the World Food Programme indeed did respond to Elon Musk's suggestion that WFP 'come up with a plan' for how $6B USD could solve hunger. The response is here: https://www.wfp.org/stories/wfps-plan-support-42-million-people-brink-famine
I suggest that you make an edit or factual correction to your writing, as the way it currently reads is some kind of 'dunking on' the World Food Programme, in favor of Elon Musk. 'Crickets' is twitterspeak for 'get owned libs,' and I am so tired of misinformation being shoved down my throat.
For additional information, you can simply google 'Did the World Food Programme respond to Elon Musk's demand for a plan to end hunger with $6 Billion USD?' and read more information from the dozens of articles on the topic. Short answer: it's a stopgap measure to get food to the 287+ million people experiencing extreme hunger, not a picture perfect solution.
And, I can't believe that I have to explicitly state this, but OF COURSE solving world hunger is more than just a money issue. It's an issue of political and fiscal stability (the latter of which is increasingly unlikely due to the growing impact of climate change - see example of floods in Sri Lanka, Thailand, and all across SE Asia only a few weeks ago). I could talk for days on this topic, as I work in the international development sector.
2. Second, I'd now like to address your claim that Texas state representative James Talarico is not "addressing the underlying causes of the issues at hand" by raising awareness that a single man (who is a Nazi, racist, vile human being) may in fact become a TRILLIONAIRE while tens of millions of people in this country cannot pay for one or more of the following: housing, food, transportation, and health care.
The mere possibility of a man becoming a trillionaire only exists in a world where the world's richest are able to earn a shockingly (and starvation-inducing) disproportionate amount of income compared to the other 99.9% of workers. I'll put it in plain terms here: The underlying causes of the affordability issues (in housing, food, transportation, and health care) for everyday Americans is the startling income inequality in the country, specifically within the top 1% and 0.1% of earners. (see next paragraph for facts and statistics)
If the post-WWII (1945-1974) distribution of incomes had stayed the same up until 2020, the bottom 90% of american workers would have accumulated additional wealth to the total of $50 Trillion USD. Of course, the distribution of incomes from the post-WWII years did not hold, and the ultra rich have spent the last five decades blitzing the economy in their favor.
The existence of a trillionaire (or a Billionaire, even, for that matter) is a slap in the face to the working single parent in [pick any state, city, region] whose health care premiums are about to increase hundreds of dollars a month, even though she won't be receiving a raise any time soon. Who holds the purse for the politicans that want to make health care unaffordable for poor people? I'll give you the answer: the top 0.1%. How did they get enough money to effect whatever policy change they want? I'll give you the answer: 50 years of tactics to usurp wealth and power from everyday, working people.
Also, I'd like to read up on your claim that leading companies make "plenty of 'normal' folks millionaires along the way" - could you please provide a definition or numeric range for the term "plenty" of normal folks who were made millionaires? Were there more millionaires made from startups growing into profitable enterprises than there are Americans struggling with debt from health care
I know the focus of your blog is 'young money', and I am probably taking too much of my steam out on you specifically, but I am so tired of being fed a lie that billionaires make my life better. They shouldn't exist.
The first comment is probably the best on here. If you’re looking at it from a materialistic perspective, I think this has been pretty normalized as a status symbol, but yachts. Let’s see how many big boats are being bought this year.
The massive amount of money made or incinerated by AI is an exact vibe I was thinking about. A lot of parallels re. dot com. Not "just" in markets bubbling but how things are playing out and what I suspect we will see in the decade to come.
Have you read Angus Fletcher? He's a prof of 'story science'at Ohio State. Fascinating guy--latest book, Primal Intelligence, a neuroscientific approach to imagination, intuition etc. Worth a look.
oh no, mean ole politicians questioning mega billionaires who use their money (in part, made from historically low individual and corporate tax rates) to further corrupt government and buy influence... what's the world coming to? Give me a break.
Absolutely agree with the narrative piece. Hiring externally enables the founders to have someone push the story they know well in their head into messaging that other people can understand clearly. By taking the time to do this, you can hold your sales reps accountable to deliver the story.
I think status is ultimately about being able to communicate great ideas in a way that people solely associate with you. I feel like the development of status has gradually been shifting away from the physicality of one's body to the intellect of one's mind.
Interesting, I think NYC will be best. Brooklyn has a ton of crypto people and alternative concept companies around, it'll probably be better than SF for investment opportunity diversity.
welcome back to nyc // curious to learn more about your VC fund // "campaign in poetry, govern in prose" -- capitalism has lifted many people out of poverty AND income inequality is a large issue -- both can be true // I've noticed a similar trend in data analytics with "data storytelling"
So I am totally in the eat the rich camp. The concentration of wealth and maldistribution of wealth has and continues to adversely impact the working class and the poor. Please review taxes on the rich from a historical perspective say from 1950 to present!!!
High status is raising a loving family. In an increasingly artificial world, it’s one of the few things that will always give you real joy. Socialists are basically influencers who weaponize a narrative to steal your money for a destructive anti-creator fund.
I love California and lived in LA for many years, it was great but never home.
As for billionaires and trillionaires I think a lot about who is the best steward of capital. We used to tax the richest at 91%. If the government would use that money to invest in a vital citizenry and economy then I might argue for that. Giving away money can be as hard and complicated as making it. The current wealth imbalance is bad for society in the long run. There doesn’t need to be a full redistribution of wealth to change that but the current situation benefits none in the long run.
Jack, I find several claims in your newsletter to be both incorrect and very troubling.
1. First, on the topic of International Development and Humanitarian Assistance, the World Food Programme indeed did respond to Elon Musk's suggestion that WFP 'come up with a plan' for how $6B USD could solve hunger. The response is here: https://www.wfp.org/stories/wfps-plan-support-42-million-people-brink-famine
I suggest that you make an edit or factual correction to your writing, as the way it currently reads is some kind of 'dunking on' the World Food Programme, in favor of Elon Musk. 'Crickets' is twitterspeak for 'get owned libs,' and I am so tired of misinformation being shoved down my throat.
For additional information, you can simply google 'Did the World Food Programme respond to Elon Musk's demand for a plan to end hunger with $6 Billion USD?' and read more information from the dozens of articles on the topic. Short answer: it's a stopgap measure to get food to the 287+ million people experiencing extreme hunger, not a picture perfect solution.
And, I can't believe that I have to explicitly state this, but OF COURSE solving world hunger is more than just a money issue. It's an issue of political and fiscal stability (the latter of which is increasingly unlikely due to the growing impact of climate change - see example of floods in Sri Lanka, Thailand, and all across SE Asia only a few weeks ago). I could talk for days on this topic, as I work in the international development sector.
2. Second, I'd now like to address your claim that Texas state representative James Talarico is not "addressing the underlying causes of the issues at hand" by raising awareness that a single man (who is a Nazi, racist, vile human being) may in fact become a TRILLIONAIRE while tens of millions of people in this country cannot pay for one or more of the following: housing, food, transportation, and health care.
The mere possibility of a man becoming a trillionaire only exists in a world where the world's richest are able to earn a shockingly (and starvation-inducing) disproportionate amount of income compared to the other 99.9% of workers. I'll put it in plain terms here: The underlying causes of the affordability issues (in housing, food, transportation, and health care) for everyday Americans is the startling income inequality in the country, specifically within the top 1% and 0.1% of earners. (see next paragraph for facts and statistics)
From this article: https://time.com/5888024/50-trillion-income-inequality-america
Which primarily relies on this paper from RAND: https://www.rand.org/pubs/working_papers/WRA516-1.html
If the post-WWII (1945-1974) distribution of incomes had stayed the same up until 2020, the bottom 90% of american workers would have accumulated additional wealth to the total of $50 Trillion USD. Of course, the distribution of incomes from the post-WWII years did not hold, and the ultra rich have spent the last five decades blitzing the economy in their favor.
The existence of a trillionaire (or a Billionaire, even, for that matter) is a slap in the face to the working single parent in [pick any state, city, region] whose health care premiums are about to increase hundreds of dollars a month, even though she won't be receiving a raise any time soon. Who holds the purse for the politicans that want to make health care unaffordable for poor people? I'll give you the answer: the top 0.1%. How did they get enough money to effect whatever policy change they want? I'll give you the answer: 50 years of tactics to usurp wealth and power from everyday, working people.
Also, I'd like to read up on your claim that leading companies make "plenty of 'normal' folks millionaires along the way" - could you please provide a definition or numeric range for the term "plenty" of normal folks who were made millionaires? Were there more millionaires made from startups growing into profitable enterprises than there are Americans struggling with debt from health care
I know the focus of your blog is 'young money', and I am probably taking too much of my steam out on you specifically, but I am so tired of being fed a lie that billionaires make my life better. They shouldn't exist.
Being offline is status
Care to elaborate?
The first comment is probably the best on here. If you’re looking at it from a materialistic perspective, I think this has been pretty normalized as a status symbol, but yachts. Let’s see how many big boats are being bought this year.
The massive amount of money made or incinerated by AI is an exact vibe I was thinking about. A lot of parallels re. dot com. Not "just" in markets bubbling but how things are playing out and what I suspect we will see in the decade to come.
Have you read Angus Fletcher? He's a prof of 'story science'at Ohio State. Fascinating guy--latest book, Primal Intelligence, a neuroscientific approach to imagination, intuition etc. Worth a look.
oh no, mean ole politicians questioning mega billionaires who use their money (in part, made from historically low individual and corporate tax rates) to further corrupt government and buy influence... what's the world coming to? Give me a break.
Absolutely agree with the narrative piece. Hiring externally enables the founders to have someone push the story they know well in their head into messaging that other people can understand clearly. By taking the time to do this, you can hold your sales reps accountable to deliver the story.
I think status is ultimately about being able to communicate great ideas in a way that people solely associate with you. I feel like the development of status has gradually been shifting away from the physicality of one's body to the intellect of one's mind.
Interesting, I think NYC will be best. Brooklyn has a ton of crypto people and alternative concept companies around, it'll probably be better than SF for investment opportunity diversity.
Glad to hear the update.
Having children in 2026 is status IMO. A holiday in Europe is cheaper
welcome back to nyc // curious to learn more about your VC fund // "campaign in poetry, govern in prose" -- capitalism has lifted many people out of poverty AND income inequality is a large issue -- both can be true // I've noticed a similar trend in data analytics with "data storytelling"
So I am totally in the eat the rich camp. The concentration of wealth and maldistribution of wealth has and continues to adversely impact the working class and the poor. Please review taxes on the rich from a historical perspective say from 1950 to present!!!
Good post but just to be clear, the WFP did respond to Elon’s tweet with a breakdown…….. little misleading not to mention.