Sola Akindolu
47.4K posts

Sola Akindolu
@akindolu
Make something wonderful.
New York, USA Katılım Ekim 2009
1.6K Takip Edilen15.7K Takipçiler
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Yahaya Bello, on Trial for N80bn Corruption, Wants to Become Senator fij.ng/article/yahaya…
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Congrats to Magnus on his phenomenal 20th World title, he is the greatest mental athlete of all time imo.
Magnus Carlsen@MagnusCarlsen
The definition of insanity is doing the same thing over and over and expecting different results. 🏆🏆🏆🏆🏆 🏆🏆🏆🏆🏆 🏆🏆🏆🏆🏆 🏆🏆🏆🏆🏆
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@curiosityonx Matteo please apply to work at NASA and I will personally throw in a fighter jet ride as a signing bonus
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What a useless, useless political class Nigeria has.
NTANetwork@NTANewsNow
President Tinubu departs for Europe as part of his end of year break ahead of trip to Abu Dhabi.
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21 years ago and 13 years ago, two dropouts in this same room set out on their own journeys. Today, those paths merge.


Manus@ManusAI
Manus is entering the next chapter: we’re joining forces with Meta to take general agents to the next level. Full story on our blog: manus.im/blog/manus-joi…
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I get why people want a billionaire tax... The anger isn't irrational; it's a response to a system that feels rigged to some.
When someone worth $10 billion pays a lower effective tax rate than a schoolteacher, something feels wrong, and the system isn't broken by accident, it's working exactly as designed, and that design can be rethought!
If people knew the actual mechanics of how taxes work they would probably be even angrier. If Jensen Huang passed away tomorrow, it would be insanely sad, and-
His estate would pay roughly 40% in federal estate taxes, though with the right setup a lot of that could be avoided. His kids would inherit the remaining tens of billions in Nvidia stock with the cost basis reset to current value, erasing all the appreciation for tax purposes. They could then borrow $100M a year against it, and never pay income tax on any of it. It doesn't feel fair to the teacher paying income tax on every dollar or the software engineer taking home 55% of their paycheck. The frustration is justified.
It feels unfair to the teacher paying taxes on every dollar and the software engineer taking home 55% of their paycheck (California wtf!). The frustration people feel around that is justified! I think I pay too much in taxes too! But we have to pay them, and I think we should strive to build a tax system that is more fair.
But California's "one-time 5% billionaire wealth tax" is a terrible way to go about it
It doesn't stop the borrow-die-inherit cycle
It forces an exodus of exactly the wrong people
It creates perverse incentives without fixing any underlying problems.
Most people seem to have not read the act - here it is: oag.ca.gov/system/files/i…
it's bad and poorly written.
It's a residency trap. Pick a date, pick a line, and you create one giant incentive to leave. You only need a few top taxpayers to go (sounds like Thiel and Brin are getting ready), and California loses years of income tax, capital gains, and the gravity that keeps companies anchored here.
It unfairly punishes the wrong people. A founder with $1B on paper in a Series E startup isn't actually rich yet, that company could go to zero, they can't sell without losing control, and they're still working. A wealth tax forces them to find cash they don't have... you can say "they could sell shares" but not every company is even liquid enough to do that. Meanwhile, someone already liquid can structure around it with better lawyers.
The cheering from @RoKhanna "I will miss them very much" is shortsighted. Celebrating capital flight is celebrating a smaller tax base and bigger deficits. People who start companies are the growth engine of our state and country. Making them your enemy isn't progressive, it's self-defeating.
There's also a practical problem: net worth isn't a clean number. Public stock is easy. Everything else becomes a valuation fight. You'll create a cottage industry of appraisals and litigation.
If we want to address the unfairness, target the specific moves that make the system feel rigged.
Two ideas that actually map to the problem and are palatable IMO:
1. Tax large loans against appreciated stock above a high threshold (say $10M). If someone borrows $50M against stock to fund consumption, that's functionally income. This targets the "borrow to avoid taxes" play directly.
2. End step-up in basis for large inheritances (say above $10M here too). Step-up basis is why "they never pay." Ending it at high levels keeps incentives for entrepreneurship while reducing dynastic wealth transfers that were never taxed.
Those approaches don't punish illiquid founders. They tax moments when wealth turns into spendable cash, and they tax gains that would otherwise be erased.
TBH I don't know if $10M is the right number, just throwing a number out there that seems in the ballpark.
Finally - before we invent new taxes with big second-order effects, we need get our house in order. Middle-class people still pay enormous amounts in taxes, and we are wasting it. I'm not sure that 20% of the budget is fraud (what @elonmusk says) but we definitely have a bloated budget, both federally and in California. As we know from DOGE, it's really hard to fix. In California there is a lot of low hanging fruit though... we need to cut what isn't working and stop treating every problem with "we just need a new tax on a small group to make it work"
I'm not against wealthy people paying their fair share, and I don't think most of us are! I am against feel-good policy that backfires, shrinks the base, and makes the state less competitive. If we want fairness and a tax system people trust, we should go after unfair loopholes, not a headline.
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@CaptainArinze @Nwekeprince101 It’s not happening. The country is gone. Nigerians are not serious people.
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If the least person working on an oil rig in Nigeria gets injured and can't be managed on the rig, a helicopter will be launched to pick him up. It doesn't matter if that happens at 2 am. A privilege a billionaire living in Banana Island will not get.
It is like that because the Oil companies pay for helicopters to be on a night standby duty for medical evacuation. The money our government should have used to pay for services like that for you and me has been looted and saved in offshore accounts. That is why we need a leader who could say that he is not a thief.
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No matter how rich you are individually as a Nigerian, we are all collectively poor. Very poor.
You only realize this during emergencies. A fire breaks out and there is no fire service. An accident happens and there is no first aid, no ambulance, no system.
Today, a world boxing champion like Anthony Joshua was involved in a car accident and not a single ambulance showed up. Someone that rich and globally known. People only gathered around him like it was a carnival. No safety measures. No trained response. Just chaos.
An accident that claimed two lives o!
Last month, an aide to a sitting governor was stabbed at a political event.. Somebody lifted him on his shoulder ! Such a gory sight!
Still no ambulance
Not even for a governor’s aide.
That is real poverty.
In Nigeria, money does not save you in a crisis. Influence does not protect you. When it matters most, everyone is poor.
To the rich and influential Nigerian who thinks demanding a better country is for the poor masses, one day you will understand. In an emergency, you are just as poor as the rest of us.
Nigeria is poor.
Poor poor.
RIP to the dead and wishing Anthony Joshua quick recovery.

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Van Gogh died broke because nobody wanted his paintings. He sold maybe one during his entire life. The art world thought his style was too immature. His brother Theo, an art dealer, kept him alive by sending money constantly.
When Van Gogh passed in 1890, his brother, Theo died just six months later. That left Theo's wife Jo as a 28 year old widow with a baby and about 900 paintings nobody wanted, plus hundreds of letters.
Here's what actually mattered. Van Gogh had written hundred of letters letters to Theo and Jo explaining individual paintings and his life as an artist. He told them the stories behind each work, what he was trying to express, what each one meant to him.
After both brothers died, Jo remembered these letters and published them.
That's what made him famous. People could read Van Gogh's own words about each painting. The works stopped being random art and became stories he had experienced. The paintings got context directly from him explaining what he was doing. Jo gave the world Van Gogh's voice attached to his work.
By the time she died in 1925, he had gone from total unknown to art historical icon.
Marc Leibowitz@Marc_Leibowitz
Vincent van Gogh The Starry Night, 1889 Oil on canvas 73.7 x 92.1 cm Museum of Modern Art, New York @MuseumModernArt
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