
Practically Perfect
7.2K posts

Practically Perfect
@practiklyperfct
Angel investor. Secondary markets since 2009. Early: SpaceX, Palantir Now: E.D.E.N., energy, inference. Help founders build, sell, partner. Connector. DM open.





Unfortunately, those in power in Sacramento seem blind to second order effects. We are now in a situation where this wealth tax is very likely to pass. This means founders who control their companies through super voting shares (instead of ceding control to VCs) need to start preparing to leave the state. I wish we could entice more founders to come and build here instead of forcing people away. The top 1% of earners pay 40% of income tax (CA actually has the most progressive income/cap gains tax system in the world). If we could double that 1% group (by building people up and recruiting people here), we’d increase our taxes by 40%! Instead, we are pushing away those top 1% of earners and risking dropping our tax revenue by 40%. And for founders with super voting, they effectively are forced to leave. Basically we need to hope that Gavin pulls off a last minute save and negotiates with the sponsoring union to pull the Wealth Tax proposition.

We’ll know we’re truly living in the future when TV UIs stop lagging.

There are currently Redcoats on the White House lawn to welcome the King of England





Michael Milken's former family office just raised $4bn for distressed credit. "The era of buying something, levering it up, then selling at an elevated multiple is over." The junk bond king's old shop is now the vulture circling above it.


Tuition at the costliest private schools in Houston ranges from $30,000 to $63,000 a year. Nearly 35 private schools charge tuition over $30,000, compared to three in 2019. houstonchronicle.com/news/houston-t…












