Katya Stesin

Entrepreneur, Business Developmetn Executive, experience in building start-ups in Silicon Valley in Russia

[Mooné Rahimi @hiitsmemooneh]

I'm Iranian and I want to tell every leftist pro-Palestine person to shut the fuck up about Iran's situation rn, It's none of your business bitch, u were silent about Iran massacre you better keep it that way now.

[US Holocaust Museum @HolocaustMuseum]

Anne Frank was targeted and murdered solely because she was Jewish. Leaders making false equivalencies to her experience for political purposes is never acceptable. Despite tensions in Minneapolis, exploiting the Holocaust is deeply offensive, especially as antisemitism surges.

[DAN KOE @thedankoe]

https://t.co/FGLYHaRhRq

[david friedberg @friedberg]

California started with the Gold Rush and might end with the Golden Exit.

it has been underreported how much wealth has left CA because of the asset seizure tax being proposed.

a private poll was conducted amongst affected individuals a few days ago and 80-90% surveyed said they have already left CA in 2025 or will leave in 2026 if the ballot measure looks likely to pass.

$2-2.5T of assets gone, representing about $20B of annual revenue for the state government. and likely hundreds of thousands of jobs now at risk.

less reported is the bigger exodus underway from folks who are NOT directly affected but worry (as they should) that this law will quickly transition from billionaires to everyone else...

the initiative actually gives CA legislators the right to take anyone's post-tax assets anytime in the future based on a majority vote. this isn't about billionaires. it's a new "tax system" that simply destroys private property rights in America.

all private property is now public property.
even after paying your taxes, it's not legally your property anymore. it's the government's, you're just borrowing it.
legislators will decide what you get to keep and temporarily use each year.

countless founders, CEOs, and other business leaders are actively looking to move their companies out of state. not just tech, not just AI, not just billionaires, but the core engine of California's prosperity since 1847 is unraveling.

and here is how this initiative risks unraveling America:
- ~10 states have explicit or implicit prohibitions against an asset seizure tax...
- individuals affected in CA (and other states trying to do the same) will move to these states that endow private property rights.
- CA already has a $20-30B annual budget deficit, an unfunded ~$1T pension liability for public employees/unions, and $500B of debt outstanding. the state can not afford to borrow much more and will launch more asset seizures to meet its obligations.
- asset seizures will first transition to "millionaires" and eventually to the entire middle class as more asset seizures drive more people to leave the state.
- the deficit, debt, and job loss will spiral. the Golden Exit.
- no US state has ever declared bankruptcy. in addition to CA, dozens of other states face similar fiscal crises - legislators promised future benefits that can't be paid or theft and waste have been allowed to run rampant and unabated for years.
- struggling states will eventually request federal government assistance, as they always have in times of fiscal crisis, effectively "federalizing state debt".
- states not in crisis will declare "enough is enough", individuals in those states will refuse to pay their federal taxes (why pay for other people's mistakes?), some states may try to secede from the Union, and a constitutional and civil crisis will erupt.

this may seem far-fetched but it is the obvious domino effect of selectively deleting private property rights for some people in some states.

i am not a billionaire and this CA bill does not affect me, but i care about the country and the state of CA. i want both to thrive. it's obvious that there are people in CA in desperate need of support and assistance, and inequities may exist that need to be rectified, but eliminating private property rights is the wrong path for everyone.

a few alternatives to consider first:
1) with a $350B annual budget, CA can cut programs that result in theft and little-to-no benefit for citizens. $50B per year is likely recoverable.
2) if more taxes are needed, tax loans against unrealized capital gains (very few objections will arise), eliminate tax-free rollover of certain appreciated assets (real estate industry will fight), create a step up in basis on inheritance (some will fight but most will support). likely $10Bs of incremental revenue can be realized.
3) restructure all public retirement programs from Defined Benefit to Defined Contribution. eliminating the unfunded retirement liabilities ($1T+) will be the release valve on the future the state so desperately needs.

we must address what ails us without dividing and destroying our state, our nation, our home.

ignore the rhetoric, these are the facts.

[Tim Urban @waitbutwhy]

Super chimpanzee servants aside, this is a very impressive job by Arthur C. Clarke predicting the future at the 1964 World's fair.

[Oguz Erkan @oguzerkan]

Forget tariffs.

The real reason of the market crash is the unsustainable US budget deficit.

Let me explain: 🧵

[Katya Stesin @KatyaStesin]

@tomorku AI sales

[Bill Gurley @bgurley]

Thanks to @friedberg & @theallinpod for inviting me to speak. One key phrase from Stigler is so important, "... leading to a net loss for society." It's not just that these lobby efforts have undo influence, its that this influence causes specific harm to society.

[Katya Stesin @KatyaStesin]

I unlocked $40 Rush tickets for Dear Evan Hansen on @TodayTix! on @TodayTixUK! https://t.co/e4Pad4ncuK

[The Onion @TheOnion]

Crypto Confidence Soars After CEO Defrauds Customers Just Like Real Bank https://t.co/GU4C2V23Sd

[Austen Allred @Austen]

The most interesting part of this is that they clearly added the blinking light to the shopping cart to say, “Yes, humans, we got it.”

[Massimo @Rainmaker1973]

Ruyi Bridge is a footbridge in Taizhou, Zhejiang China, made up of three bridges. It is a pedestrian bridge which was built to cross the Shenxianju Valley and it features a glass-bottomed walkway

[read more: https://t.co/K09HIIUEkw]

[Massimo @Rainmaker1973]

How's you anxiety?

A scenic spot in Chongqing, China has built this cliff-side 'super swing' which stands 30 storeys tall and faces a 2,300ft drop

[read more: https://t.co/Ot04vt01OE]
https://t.co/9DNV57pJag

[Massimo @Rainmaker1973]

When researchers found this kind of mysterious underwater 'crop circles', they did not know the cause. Then, they proved to be amazing artwork made by pufferfish to attract and win a mate [source and full video: https://t.co/dll8Y6ovfB]

[Siddha Performance @KapilGuptaMD]

Man is petrified of becoming something beyond what he has become.

It is for this reason that he embraces the warm and safe shallows of spirituality and self-improvement,

Rather than the icy peaks of Truth and Transformation.

[Illia Ponomarenko 🇺🇦 @IAPonomarenko]

Izium…
But we’ll probably be having even more incredible news from Donetsk Oblast — waiting on confirmation now.

[Market Rebellion @MarketRebels]

$AMZN retail business reportedly cutting 2022 hiring targets

[Katya Stesin @KatyaStesin]

@LSValue Sorry meant proctor and gamble $PG, still pe of 25.

[Katya Stesin @KatyaStesin]

@LSValue $PD

[Puru Saxena @saxena_puru]

$SPX Forward P/E has now declined to 16.7

Prior bear markets (00/02, 15/16, 18 and '20) ended when $SPX Forward P/E compressed to 14-15.

- Forward P/E of 14X will take $SPX to 3,300
- Forward P/E of 15X will take $SPX to 3,500

$SPX might bottom between 3,300-3,500.