Mason  🏃‍♂️ ✂️

The healthcare/education monster is unavoidably a private interest + government collaboration. Moreover, the collaboration has grown so complex and labyrinthian that it's unclear how to attack it. And it's moot anyway, unless it sounds better than "boo yachts, free college!"

Here's what worries me: whether via a punitive income tax bracket or a wealth tax, you're hitting a group that contains some game-players and many more value-creators. If you don't first solve the regulatory capture issue, you funnel the gains straight back to the game-players.

If we bet on a policy as aggressive as Warren's wealth tax, it'd become nearly impossible for ultra-successful entrepreneurs to maintain controlling stakes in their own companies over 1-2 decades. It should not be controversial to say this would be disastrous for the US economy.

Can you say more about why this would be disastrous for the economy? It's not obvious to me.

Because only a complete idiot would start an ambitious company in a country where he or she would shoulder all the risks and have a near-zero expectation of keeping control in the best-case scenario, and only a complete idiot would fund a such an idiot. Innovation moves day one.

Maybe I don't get it because I'm not an entrepreneur type, but if I was starting a company it would be because I wanted a problem solved, not because I wanted to personally control something.

If there's a problem that has not yet been solved by someone else, and you believe that you can profitably solve it, you'll probably also believe that you need to continue steering the ship — and assuming you're right about the first thing, you're probably right about the second

After 20 years? Someone can probably make some improvements on me with some new ideas. Sundar at Google, Satya at Microsoft, etc.