Dallas makes the aspen and palm beach rotation for seasons very easy. Hampton’s are more difficult but doable. Cost of living is much lower. Save 10% on income taxes per year alone. 3mm for a big ass house in highland park, raise the next Scottie Scheffler, play golf every weekend for at least half the year… Dallas is a wonderful city
A partner at a PE firm told me I “wasn’t mentorable” 2 months into the job. Well, I’ve been working for a mentor for the better part of a decade now and that PE partner is now a research assistant in a chemistry lab after the firm he ran blew up
A junior partner at a top vc told me he was worried i wasnt coachable. I said, i dont see what you can teach me given youve never founded or run a successful company.
@Danny07077566@the_P_God The marginal life improvement of raw milk vs the negative possible consequences are the core of my point. If it’s tummy aches for the few vs. risk of botulism for the many, I take tummy aches. My point is it’s a risk adjusted negative bet on raw milk outside of select cases.
I vividly recall my high school in Palm beach county buying new MacBooks at the end of the year and a teacher telling me IT had to make sure they spent their budget so they could get the same budget the next year. Just broken thinking. Plenty of waste.
I am a teacher in Miami-Dade County Public Schools, and I can say with certainty that there's plenty of unnecessary spending that can be cut in the school system to allow for property tax relief. The problem with the local school board is that they spend above their means and that they don't prioritize in their budget. Each year, we get new unnecessary programs and technology when previous ones have worked. They are always going with the new more expensive fad. They have lots of teachers out of the classrooms instead of having them work directly with children and so much more waste. Audit the school system, and the money will be found to offset property tax relief.
Today I learned that people think Jews worship “Moloch”. Well we worship Melech, aka “King” aka the God of the Torah. We do not worship Moloch, which was intentionally altered to have the same vowels as the Hebrew word for “shame” to highlight the Israelites disgust at the pagan child sacrifices in the name of their god. This is literally Jews saying child sacrifice is bad through ancient text.
@mcuban If regulation went away hospitals would start operating like veterinary hospitals already do. Tell you how much something costs before they do it. ERs would be freed up from their long lines of urgent care-like needs. The system would be de-clogged and prices would fall
In the IPO game “pushing it to retail” is what you do when you’re filling out the leftover allocations of the order book as a gimme to the investment banks’ wealth management clients. Being a wealth management client of Goldman could get you some shares, but the major allocators come first
How to fix public schools:
1. Phonics based reading vs whole word
2. Re-institute performance-based hold backs. If you fail 8th grade you don’t just get promoted to 9th grade.
3. School vouchers
With these 3 VERY easy changes, schools will become more effective educators for less money. It comes down to results-based learning techniques, outcomes based advancement, and free market school choice.
I’m so tired of this talking point. Tom Steyer is running for governor of California, which spent $20,000 *per student* in 2023. That’s double what the state spent just 10 years ago. And yet test scores are *declining.* The idea that we don’t “invest in schools” is a myth.
@realpaidtriot@mercoglianos@DominicJPino American run shipping companies regularly flag in other nations for tax/legal reasons. Royal Caribbean cruises are flagged for the Bahamas/cyprus. Same thing in shipping.
@IanCrossland re: the convo today about American Jews vs. Jewish Americans
How is being Jewish above all else any different than Charlie Kirk saying “God, Family, Country, in that order” ?
Have you ever questioned a Catholics split allegiance to the Vatican and the country?
BREAKING: Israel is about to eliminate peanut allergies worldwide 🥜☠️🙅🏻♂️
A couple of Israeli scientists have managed to target and "remove" the specific protein genes responsible for triggering severe allergic reactions, without compromising the taste or texture which remained exactly the same
This will potentially make people with peanut allergies being able to enjoy peanuts and all peanut related products, and in the long run can replace “harmful” peanuts with a safe and similar alternative
* It’s important to point out that Sheba medical center was ranked 8th in the list of top hospitals worldwide
This example is just not extreme enough to express the value of pledge asset lines of credit. It’s more like: 1mm initial capital, 10 mm current value, pledged assets line for 3mm. Interest rate is almost at mortgage rates and minimum payment is just interest (more flexible).
Math:
3.5mm capital drawdown, at 20% tax on 2.5mm of gains, 500k in taxes, net 3mm cash
Now you have 6.5mm in the bank, assuming it grows at 9% pre tax annually for 30 years: 86.24mm in 30 years.
10mm still in the bank, with just interest paid off per year: 132.68mm, less 3mm of debt, so 129.68mm.
So that decision to pull money out versus using a PAL cost an extra 500k in taxes upfront, and then kneecapped your growth in the future by 43mm!!
Yes, you could continue to replenish that savings over time and work your way back to that initial 10mm of savings, but every year that goes by without the original 10 in there is a year of compounding missed on the remainder that has yet to be replenished.
This is the value of borrowing against your assets.
Bitcoin holder buys 3 BTC for $30,000 in 2020.
Worth $240,000 today.
May arrives. The down payment on the house is $80,000.
If he sells 1 BTC, he triggers $70,000 in capital gains. Pays $14,000 in tax.
Walks away with $66,000. Short on the down payment. Loses a third of his stack forever.
Instead, he posts 2 of his 3 BTC as collateral and borrows $80,000.
Keeps every sat. Leaves 1 BTC free of any lien.
Pays $8,280 in interest over 12 months.
House closes.
Stack still growing.
IRS gets $0.