Paul GrahamVerified account

@timoreilly How does he propose to prevent future Larry & Sergeys?

@paulg Larrys and Sergeys aren't the problem. That's a facile remark not worthy of you. Read the book, then comment http://rewritetherules.org 

@timoreilly Maybe you can summarize for us. How do you "correct economic inequality" and still allow billionaires?

@paulg You start by getting rid of lower taxes on capital gains. End the carried interest deduction. Stop tying CEO comp to stock price.

@timoreilly Changing tax rates might make founders 1/3 poorer, but startups make them 100x richer, so that won't fix inequality.

@paulg You're looking at this thru a very narrow filter. Startups aren't the issue. Financialization of the economy http://www.tcf.org/blog/detail/graph-how-the-financial-sector-consumed-americas-economic-growth …

@timoreilly Maybe. But if you ban hedge funds the people who start them will start startups instead and inequality will be just as bad.

@paulg I call b******* on that one, Paul. Do some reading on some other aspects of the economy besides startups