ELON: LIVE EVENTS ARE THE ONLY LUXURY LEFT
Nikhil Kamath was showing Elon the data: movies are getting crushed, social media & YouTube dominate screen time… but the one thing growing like crazy again?
Live events.
Elon:
"When digital media is ubiquitous, and you can have essentially anything digitally for free, or very close to free, then the scarce commodity becomes live events."
When every movie, song, fight, or show is instantly available anywhere for almost nothing, the only thing that becomes truly valuable is the one thing you can’t pirate or stream:
Being there. In the moment. With the crowd. Feeling the energy live.
That’s why concerts are printing money, sports tickets are insane, UFC sells out in minutes, and even podcasts are doing arena tours.
Scarcity flipped. Digital killed the album, but it made the live show priceless.
Source: @nikhilkamathcio, @elonmusk
You want everything, but you can’t have everything.
So you want to not want anything. But that’s wanting.
So you want to want what you already have. Including wanting and not wanting.
Wanting what is…
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If you’re wondering where to move, this is the Singapore income tax rates (in SGD).
It nets out at 10.5% on $200k, 16% on $500k and sub-20% on $1M
There is zero capital gains tax (CGT)
The GST or VAT is 8%
Dubai is zero income tax, zero CGT, but 5% VAT.
Hong Kong has flat 16% income tax, zero CGT and zero GST.
I still choose Singapore for a few reasons - it’s miles ahead in the concentration of tech/crypto companies, and it’s the optimal hub with the spokes being 1.4bn in China, 1.4bn in India and 800M in South East Asia, plus some Japan/Korea/Australia.
Dubai is an interesting hub for the spokes of Europe/MENA/India/Africa, but the EU is in global decline, MENA’s population isn’t very big, and Africa has a way to develop before large scale middle-income growth.
But Dubai does have more purity of “free trade” and it’s wildness reminds me of Nick Leeson trading Nikkei futures in the 90s. A place where traders can trade.
If that timeline is an approx guide, Dubai will probably beat Singapore in about the year 2050, but will rise steadily from now.
The smart money is about getting residencies in both city states. I love HK, but not bullish on a strong comeback as a global centre, but rather one focussed on bridging China.
Also very glad not to have an American passport, I believe they’re the only country with global taxation of citizens. Funnily enough, I get targeted ads to give up my American citizenship (which I don’t have!)
One thing for sure, even if you doubled my income to move to San Francisco, I wouldn’t. Forget the fact it’s disfunctional, even at double the income, with income/CGT tax I’d take home less! 😂 😂😂
Singapore 🇸🇬 is crushing it. The Token2049 + F1 week is an absolute blockbuster, almost unmatched for a combination of conference & entertainment.
But the truly remarkable thing most visitors took away, is just how far ahead Singapore is as a city compared to others. Nearly 250,000 people at the concerts, reports of over 400,000 at the F1. Crazy parties all over the city, most only closing at 6am.
Still at the worst of times, you could get a Grab or Taxi within 10 mins. Traffic was routed so there weren’t terrible jams. The trains ran like clockwork and cost $1, connecting you to almost anywhere fast. I met people who lost phones and wallets (partied a bit too hard), and retrieved them just fine.
You never see a fight, almost no littering, women are always safe no matter the time of night or if they were by themselves. You could wear a six-figure watch and no one will rob you.
And the Monday after F1, the track is open and all streets are functioning perfectly.
Imagine going back to almost any other city in the world after this experience (Ie. San Francisco 😂)
Excitement is building! 🏁 Don't miss the spectacular performance by Pietro Fittipaldi, Haas F1's reserve driver, at the eagerly awaited Outdrive GP event in Singapore on September 14th. Get ready for an incredible show! 🏁🔥
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Rev up your anticipation!🏁September 14th is the date for the Outdrive GP event in Singapore, where you'll witness the electrifying live racing action with the dynamic F2 driver, Brad Benavides. It's going to be a blast!🏎💨#OutDriveGP#SpeedUnleashed#simracing#visitsingapore
Get set for the ultimate revelation in just 1 day! OutDrive GP is all geared up to unveil a world of adrenaline and speed. Stay tuned! 🏁🔥 #OutDriveGP#UnveilTomorrow
Brace yourselves for an adrenaline-fueled revelation – OutDrive GP is on the starting line, and the excitement is about to unfold! Stay tuned! 🏁🔥
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