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paulg's profile
Paul Graham
Paul Graham
Paul Graham
Verified account
@paulg

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Paul GrahamVerified account

@paulg

paulgraham.com
Joined August 2010

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    1. Paul Graham‏Verified account @paulg 18 May 2020

      Paul Graham Retweeted John Thornhill

      There are two ways to get rich, inheriting money and starting new companies. Comparing the results in Europe and the US suggests that if you try to ban being rich, you suppress the latter at a higher rate than the former.https://twitter.com/johnthornhillft/status/1262138590382960643 …

      Paul Graham added,

      John ThornhillVerified account @johnthornhillft
      Interesting contrast: 10 richest US billionaires are almost all self-made tech entrepreneurs. Top 10 billionaires in UK are mostly oligarchs, property magnates and dynastic heirs (Dyson and Ratcliffe excepted) pic.twitter.com/b3RZs7RkV5
      113 replies 471 retweets 2,144 likes
      Show this thread
    2. Chad Loder‏ @chadloder 18 May 2020
      Replying to @paulg

      Let’s look at America’s dynastic families: - Walton: $130b, 2nd gen, 1962 - Koch: $82 billion, 3rd gen, 1925 - Mars: $78b, 3rd gen, 1911 - Cargill: $49b, 6th gen, 1865 - Cox: $41b, 3rd gen, 1898 - S.C. Johnson: $30b, 4th gen, 1886 - Pritzker: $29b, 3rd gen, 1936 (Forbes, 2016)

      2 replies 2 retweets 12 likes
      Paul Graham‏Verified account @paulg 19 May 2020
      Replying to @chadloder

      They exist in America, of course. But they are more than twice as common in Europe.

      12:09 AM - 19 May 2020
      • 1 Retweet
      • 1 Like
      • Adam Abecid Alex Kaufman
      2 replies 1 retweet 1 like
        1. New conversation
        2. Chad Loder‏ @chadloder 19 May 2020
          Replying to @paulg

          I feel like the only thing that signifies is that America didn’t become an economic powerhouse until WWII. Our richest billionaires haven’t had time to die yet. Once Bezos, Gates, Ellison, Zuckerberg, and Bloomberg die, their kids swamp the list like the Waltons and Mars family.

          1 reply 0 retweets 6 likes
        3. Paul Graham‏Verified account @paulg 19 May 2020
          Replying to @chadloder

          You really would benefit from taking a year off to learn more history. Does the phrase "Gilded Age" sound at all familiar? That was in the late 19th century.

          1 reply 0 retweets 3 likes
        4. Show replies
        1. Pika So‏ @marcdoka 20 May 2020
          Replying to @paulg @chadloder

          It is more difficult to scale a business in the UK, the population is more than 5 times smaller than the US, so it's probably more difficult to catch up long standing fortunes.

          0 replies 0 retweets 0 likes
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