Sure, but the fact that Stripe some how has the money to spend fighting the measure but doesn't seem to have it to help fund services to help remediate the issue should be viewed as the more disingenuous act, don't you think? ;)
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Stripe has spent a lot of money supporting things it finds important. It just thinks the prop c approach is a backwards move. Pretty straight forward.
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That's fair, but spending $$$ to fight a prop that could go to help address a clear problem in the community, is probably not the best use of funds. As for the valuation issue, while $20bn may not represent their earnings, it certainly represents a degree of financial stability.
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Nothing disingenuous at all here. They created $20B in value out of nothing at all. Benioff is right to push for more accountability.
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Tade, this is extremely inaccurate from Benioff. Being valued at a dollar amount does not mean that you've made that much money. Very happy to talk about this. Prop C is one of the most poorly designed policies ever proposed, and will significantly damage the bay area economy.
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I feel like everyone keeps saying it's poorly designed but no one has explained why. Scott Weiner used this phrase in his medium post. Would love an explanation as I don't know where I sit on this issue. Overall against tho.
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1. It's a tax on gross receipts and dismantles the ability for lower margin biz to operate in SF. Completely. Think Safeway and Whole foods. 2. We should increase spending, but by $300 million per year? An additional $42k per person? Puts total spend at $75k p person! So high.
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3. The proposal isn't specific on how it will spend this money aside from saying "50% goes to housing", etc. Put simply, they just picked a HUGE number and want to hope for the best. The mayor does not support Prop C. It is irresponsible. 4. We must help via smarter means.
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Yeah Zach, I think these are legit critiques -- i'm not necessarily for or against the particular proposal. I don't buy the economic damage to SF bit though. Twitter, Stripe & co. aren't going to just leave SF because of nominal tax increases. A new status quo is needed.
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It's not about Twitter and Stripe, it's about the thousand other companies that have much smaller margins
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Isn't this also an argument for the trump tax cuts? :)
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What’s wrong with valuation == money made?
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Valuation isn’t even related to money made. There are companies with $100 million valuations that have made less than $1 million in revenue
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Revenue is “income”, valuation is “net worth”. Net worth seems like a better measure than income for “money made”; you can sell stock to realize the gains.
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facts cant get in the way of virtue signaling tho
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@sama moderate maybe?
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The posturing here seems unnecessarily aggressive
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Yep unfortunate that he has to call on them and Jack but st least he is trying to do something about this problem that is plaguing SF for so long. Hard to argue against trying
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