Pretty insane to say “most of the upside” of a company is captured pre-IPO.
E.g. TSLA was worth only $1.9B the day after its IPO, versus $1.5T today.
However… nothing to stop any ordinary man from being a seed investor ;-)
I think it’s time to revisit the accredited investor laws in the US.
Companies are staying private longer, where only accredited investors (aka rich people!) can invest. Retail investors can only come in after IPO, when much of the upside has already been captured.
These rules were created with the best of intentions, to protect regular people from scams - a noble idea. Unfortunately, in practice they've often made it illegal to get richer, unless you're already rich. A regressive tax!
We have to judge policies based on their outcomes, not on their intentions.
These are two possible routes I see:
1) Replace the rule with something merit-based, like a financial literacy test. Pass it and you're accredited. Having a qualification based on competency rather than your bank balance or income seems far more fair.
2) Remove the rule entirely. Let consenting adults assess their own risk. Disclosure requirements stay and fraud enforcement stays to punish bad actors.
No matter what your theory about birth rate collapse is, there’s some data point that disproves it. Japan didn’t have the pill when fertility collapsed. There are highly patriarchal countries where fertility is collapsing. It’s collapsing in countries that are still poor. It’s collapsing in places with more generous social support for families. It’s almost like a psychic alien just decided to phase humans out.
Exactly. This is why “coalition” governments in parliamentary systems are the worst forms of democratic government. You’ll never find out if any of the parties have good policy ideas!
Jeff Bezos reveals why compromise is one of the worst ways to resolve a disagreement
"An example of a really bad way of coming to agreement is compromise. If I say the ceiling is 11 feet and you say 12 feet, we say let's call it 11 and a half. That's compromise"
"The advantage of compromise is it's low energy. But it doesn't lead to truth"
"Another really bad resolution mechanism is who's more stubborn. Two executives disagree, they have a war of attrition, and whichever one gets exhausted first capitulates. You haven't arrived at truth, and this is very demoralizing"
"Escalation is better than a war of attrition. Escalate to your boss and say, we can't agree, we like each other, we're respectful, but we strongly disagree, we need you to make a decision"
"Exhausting the other person is not truth seeking. Compromise is not truth seeking"
@XVanFleet Yup. I visited only once back in 2004 and was struck by how much the focus was on slavery and TJ’s affair. A shame because it’s an amazing place.
Bro, let’s stop pretending.
Muslims make up about 25% of the entire world’s population — over 2 billion people across 50+ countries.
Japanese people? About 1.4% of the world. One single country.
Shinto exists only in Japan.
So when people say “Japan should prioritize minorities and be more accommodating to Islam,” who exactly are we talking about?
The global majority is coming to one of the world’s smallest ethnic and religious groups and demanding that Japan change its culture, food, and traditions for them.
That’s not “protecting minorities.” That’s the majority trying to colonize a tiny minority.
Japan has every right to protect its own people and culture first.
If Muslims want to live under Islamic rules, they already have dozens of countries where they can do that. They don’t need to come to Japan and turn it into another one.
@avidseries Israel is bad at PR and propaganda. The media worked full time to pass off Hamas talking points as reporting. Direct experience of actual 10/7 footage would sway a not insignificant portion of people if presented truthfully, but it’s hardly out there (too gruesome).
young couples trying to raise a family in our clown economy are admirable bordering on heroic, so if you have kids, its actually a patriotic duty to invade spaces where boomers, "childfree" redditors, disney adults, other sorts of foul beasts, cavort and stuff their putrid jowls
New Yorkers with 16 or more speeding violations will now have to install devices in their cars to limit their driving speeds.
The device will use GPS tracking to restrict how fast the car can drive to the posted speed limit.
The device will be wired into the vehicle's onboard computer.
If drivers refuse to install the device, their registrations will be revoked after 45 days.