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Jesse Powell
@jespow
A few outlier millionaires becoming billionaires in a time of unprecedented inflation isn't evidence that everything's dandy. What about the other 99% of businesses, 50% of which have been absolutely destroyed by the inept COVID response? "Business" isn't just tech decacorns.
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NBC Los Angeles
@NBCLA
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Gov. Gavin Newsom forcefully pushed back on criticisms that California is becoming unfriendly for business, pointing to “all the new billionaires” created by initial public offerings and noting that its richest people are “doing pretty damn well.” 4.nbcla.com/8v3LPqR
7:29 AM · Jan 11, 2021Twitter Web App
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Ryan
@ryan__calder
Replying to
@jespow
Scary bullshit from Newsom there... Almost every of my favorite family and friends businesses in LA are done now. Restaurants, retail, fitness, and cosmetics. Brutal what may happen from here for most of us in California.
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whynot
@whycantwebef
Replying to
@jespow
and
@prestonjbyrne
Theres nothing unprecedented about this inflation its at 2%-3% look at inflation history we haven't even begun. This is caused by low interest rates dollar is cheap people speculate more gov bonds aren't paying enough to beat inflation
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whynot
@whycantwebef
Money is just moving from one asset to another from cash on the side lines to stocks from bonds to stocks. Also when a company can swap old debt they had for cheaper interest they make more profit and multiples go up. Inflation hasn't even started .
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Jesse Koenig
@JDK415
Replying to
@jespow
Wasn't that part of his point though? “We’ve got a lot of work to do to help small, medium-sized businesses, but the folks at the top, doing pretty damn well”