Dad. Husband. History buff. Bostonian making his way in Manhattan. Host of @ICEHousePodcast from @NYSE; author of @OffScriptBook; former @WhiteHouse aide.
America's cultural ideal has been the self-made entrepreneur while Europe's was rooted in aristocracy, with status inherited rather than earned. Europe's inheritance laws show this divide.
Many European countries have "forced heirship" laws that require people to leave 50-75% of their estates to their children. Want to leave the majority of your wealth to charity? not allowed. Your kids are estranged from you, struggling with addiction, or irresponsible? still required to give them the money. Want your kids to avoid a life of entitlement? tough.
Incredibly, these laws look back at transfers made during your lifetime. If you have 3 children in France, you're required to bequeath them a minimum of 75% of your estate. Because French law calculates this based on your assets at death plus all lifetime gifts, giving away more than 25% of your wealth while alive means your heirs can legally sue to force charities or foundations to return the funds. This has limited the development of the nonprofit sector on the continent.
The cultural gap between an entrepreneurial society and one shaped by dynastic wealth is enormous. If you make it yourself, you tend to want your kids to do the same. If you inherit it, the primary goal is protecting the estate for the next gen.
Countries like Spain, France, and Italy legally entrench family dynasties, while America has historically sought to limit them through estate taxes. The result is not only a weaker culture of philanthropy and civil society in Europe, but also less economic dynamism.
I love former service members who decide to serve in congress! They put country first more often than most politicians! Go @sethmoulton
He’s the real deal.
Incredibly proud of MIDN 1/C Eli Heidenreich and MIDN 1/C Landon Robinson for earning their place at the next level this weekend with the Pittsburgh Steelers and Cincinnati Bengals. Those locker rooms just gained a tenfold increase in Leadership. 🫡⚓️
Only 26 days, Warriors!!!
Plebes NO MORE!🫡
In 2 hours, 17 minutes, and 36 seconds, the Class of 2029 climbed Herndon Monument and completed one of the Naval Academy’s most demanding and historic traditions.
This moment signifies teamwork, resilience, and refusing to quit when the task feels impossible.
Class of 2028 crushed Severn Shellback. 👊
Modeled after the Navy’s equator-crossing ceremony, the evolution focused on the symbolic undertaking of responsibility and their transition from youngster to second class. They now assume the charge of standard bearers of our Brigade.
When Ken Griffin and Citadel left Chicago:
Total 3-Year Impact: $846M in lost taxes + $2.65B in lost spending = $3.5B economic hit to Illinois/Chicago (not including philanthropy losses).
Ken Griffin is self-made. He built his businesses largely outside NYC but is now growing it in NYC. With Ken comes construction of an office tower, high paying jobs, tax revenue and a remarkable commitment to local philanthropy. Not sure why that pisses off the new mayor.
In the end, the Red Sox offered more money to Ranger Suarez ($130m present day value) than they offered Alex Bregman (closer to $120m NPV) over five-year deals. Given what Bregman was to their team and clubhouse last year, his unique two-way skills in a market that paid Pete Alonso $155m and Schwarber $150m, that makes no sense. Major miscalculation.
As 2025 comes to a close, we reflect on a year defined by tradition, teamwork, and service.
From milestones on the Yard to moments across the Fleet, this year showcased the dedication of our midshipmen, faculty, staff, alumni, and families who support the Naval Academy.