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David Sacks just delivered an economics masterclass on Elon becoming the world’s first trillionaire.
@davidsacks: “People see the headline and imagine Elon suddenly has a trillion dollars in the bank. That’s not how it works. His balance sheet didn’t change overnight.”
Why?
The real point is deeper. Wealth isn’t in the “stuff” we consume. Food, shelter, clothes. Things that depreciate and disappear. It’s in the machines that create stuff for decades: tools, workflows, and corporations.
These are the true engines of human progress.
“If you create a machine that makes more stuff, then there’s a discounted present value for all the stuff in the future that machine might create. That’s where the wealth comes from.”
Elon started with nothing. An immigrant who slept on the floor building Zip2. He created these machines from vision and relentless effort. Thousands joined him, including a SpaceX welder who turned his labor into a million dollars in stock.
That’s the magic of tech and free markets: labor can become capital. It’s fluid.
The outrage misses this entirely. The people building machines that deliver medicines, energy, and abundance are creating lasting prosperity for everyone.
What do you think? Does viewing wealth as future productivity change how you see stories like this?
One reason it's more difficult to work with people you don't have faith in is simply that there are more possibilities to consider whenever they do something. You also have to consider all the ways they might have screwed up. Even if they didn't, you still have to think about it.
Zach always set unreasonable deadlines for everything we did at Cal AI.
His logic: if the timeline is unreasonable and you fall a little short, you're still moving incredibly fast.
If the timeline is reasonable and you fall short, now you're behind.
I guess you could say it all worked out.
If you bought a place in Miami before 2021, you are rich now. The prices exploded and are still holding 50%+ above pre-COVID prices.
Rental prices are going up and not stopping. Mediocre houses are renting well, and landlords are cashing in.
You can literally retire on renting out one place in Miami.
It’s astounding to me that every San Francisco tech bro feels they need $10 million to escape the permanent underclass when their only hobbies are buying hoodies and going on hikes.