This is not a knock on $CRNX, which I don't know well at all, but if it can be bought for $10B, then $ABVX can be bought for $1 trillion.
Ok, maybe $50B...
Taiwan solved tax evasion in 1951 with a trick so cheap it should embarrass every tax authority on the planet.
The problem was an all-cash economy full of small shops. A merchant pockets the cash, skips the receipt, and the sale never existed. Auditors can't catch what was never recorded, and hiring enough of them to watch every noodle stand costs more than the missing tax.
So finance chief Ren Xianqun flipped the incentive. Print a lottery number on every receipt. Draw winners every two months on live TV. Top prize today: NT$10 million, about $310K.
Suddenly the customer and the shopkeeper want opposite things. The merchant wants the sale off the books. The customer wants the ticket. And there are millions more customers than merchants. Every transaction now carries a built-in witness demanding the paper trail.
Year one, reported tax revenue jumped 75%, from NT$29 million to NT$51 million. Seventy-five years later, roughly 70% of Taiwanese still play. Convenience stores redeem the smallest NT$200 prizes at the register, so even a coffee receipt feels like a scratch card.
The elegant part is what the audit force costs. The prize pool runs about NT$7 billion a year, roughly $20 million. In exchange, the government gets 23 million unpaid auditors working every checkout line in the country, forever. No inspector general on earth delivers that coverage at that price.
Greece, Italy, Portugal, and Slovakia all copied it. The most effective compliance tool ever built looks like a game, and that's exactly why it works.
This Simple White Line Is America’s Greatest Unsung Innovation
You know about the lightbulb and the iPhone. This is the unknown story of another ingenious creation that changed a nation.
https://t.co/AhdimAg2aL
@SunithaSekar@Hashwinkrishna1@THChennai What Chennai Airport needs is not a new terminal, but a new operator. AAI has turned what was South India’s gateway to an airport that feels like it’s stuck in 1998. A world class private operator would unlock significant capacity and dramatically better passenger experience
@sreemoytalukdar@Utpal_Kumar1 Grand strategy is great, but India is still a ~$3,000 GDP-per-capita country. Becoming a middle-income economy seems like the more urgent priority
Starting today, @ForeignPolicy is lifting its paywall on ALL content. From the Iran war to the World Cup, read up on the biggest global stories—for free! 1/9
@Vinamralongani@airindia The biggest issue is the huge typeface AIR INDIA in the ridiculous font. Can you see SQ, Cathay or even BA doing this? I would have preferred an iterative development of the legacy livery to suggest a new(ish) Air India. I guess they wanted to suggest a full break from the past.
“Alliances of this magnitude do not fix themselves. They require strategic patience, gruelling back-channel manoeuvring, & relentless engagement. In barely 6 months, @USAmbIndia halted a geopolitical tailspin and placed the Washington-New Delhi axis back on a trajectory of aggressive growth.”
https://t.co/2Pmq3DEZKu
@kathrynwu1 Are there a lot of foreign students at top Chinese universities like Tsinghua or PKU? I wonder how many stay in China for work after graduation, and how they do career-wise
@cvkrishnan@Silversuresh10@HemanNamo Let it go. It’s pointless to argue with those who somehow have convinced themselves that India and China are in the same league.