@andrewchen I have run paid ads for some huge brands and startups where I was an investor. This argument is true if you replied plo paid being your entire mktg plan. Those that treat it as another channel fare better
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jay bhatti
565 posts
lots of AI cos starting to experiment with paid marketing so here’s my take:
Paid acquisition is a tax on your product's defensibility. the moment you can't out-spend the incumbents and competitors, you die. build channels that get cheaper as you grow or you're just renting your growth
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@rabois @kwharrison13 What made pre 2008 VCs with no operational experience capable then? Hard one to figure out what changed
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@kwharrison13 almost nobody who started after 2008 who is great though skipped a startup, probably 2 exceptions max.
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Some of the greatest VCs of the last 20 years didn’t work at a startup. Jim Breyer, Peter Fenton, Bill Gurley, Mary Meeker, Neil Shen, Lee Fixel, Josh Wolfe, etc.
Being a good investor is defined more by temperament than background.
GREG ISENBERG@gregisenberg
you shouldn't be allowed to be a VC if you haven't worked/built a startup idk why this would be controversial
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@agounardes This is a simpleton level of stupidity in terms of understanding QSBS and geographic competition.
Happy to educate you
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Working NYers pay their taxes and struggle to get by, meanwhile wealthy investors are arguing with a straight face they can’t make a living unless they get $15 million in profit (per investment!) tax free.
Make it make sense.
GIF
Josh Schlisserman@jslishi
I am surprised more VCs aren't talking about this. But, if you are a NYC founder with any type of liquidity event happening soon, consider relocating NOW! CC: @ethdaly @MaxwellAbram @ChanniGreenwall @SandroChess @Bfaviero @evanbfish @jackmmcclelland jdsupra.com/legalnews/new-…
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If there was one thing NY could do to drive out high impact founders, it is this.
Josh Schlisserman@jslishi
I am surprised more VCs aren't talking about this. But, if you are a NYC founder with any type of liquidity event happening soon, consider relocating NOW! CC: @ethdaly @MaxwellAbram @ChanniGreenwall @SandroChess @Bfaviero @evanbfish @jackmmcclelland jdsupra.com/legalnews/new-…
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This is dangerous, immoral, and illegal - the third government he's tried to overthrow in the first three months of this year. We are in a worst case scenario of authoritarianism.
Aaron Rupar@atrupar
Trump: "I do believe I'll be having the honor of taking Cuba. That's a big honor. Taking Cuba in some form. I think I can do anything I want with it, if you want to know the truth."
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@typesfast ATG was an asshole. Given a kingdom by birth and used it for slaughter. His armies raped and killed women when cities surrendered.
When he invaded the land of my ancestors , he went to a village where only women were left alive and he killed them all bc they refused to submit
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Marc severely underestimates the amount of time Alexander the Great spent reflecting on his conquests. He conquered 30+ kingdoms in 16 years. That left an average of 4-5 months on horseback as he marched to the next kingdom he was compelled to defeat. Plenty of time for introspection.
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@jamesklug Humans not designed to fly - NY Times 1901
Never put a ceiling on human capabilities. Also, don't put a floor on human stupidity.
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Humans are obviously not designed for this. It would be catastrophic
Elon Musk@elonmusk
@_kaitodev @garrytan @karpathy All jobs will be optional. There will be universal high income.
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@Kpaxs too bad he escalated vietnam to prove his own "toughness" - ranked as one of the worst presidents and responsible for the death of over 1 million. but yes, he wanted to say he worked a lot
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The thing about Lyndon B. Johnson that breaks your brain a little is how the ambition and the work ethic were both infinite in a way that's almost inhuman.
Kpaxs@Kpaxs
Lyndon Johnson was pure grit personified.
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@PatrickHeizer Over educated people who never made a dent make slight on the accomplishment of people who they consider beneath them bc they actually made a dent.
Envy of accomplishment sure is a human flaw.
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Sorry to be the downer because this is an impressive story in some senses.
But it is ~trivially easy to make a single mRNA vaccine. It's not hard.
I cure mice of various cancers with various therapeutics all the time. I've made mice lose more weight in a month than tirzepatide does in a year.
What is hard and expensive is proving its BOTH safe AND effective **in a randomized and controlled study in humans** while ALSO manufacturing it at clinical scale and grade.
I am happy for this man and his dog. It is impressive.
But y'all are overhyping it.
Séb Krier@sebkrier
This is wild. theaustralian.com.au/business/techn…
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@JTLonsdale @ksorbs As a Sikh, we are not allowed to eat halal by our 10th leader. We barely got permission to eat meat in general.
This is a disgrace by the UK police.
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UK police just arrested a restaurant owner for putting a sign up that says 'we don't sell halal.'
Realize where we're at
Braeden@BraedenSorbo
They ARRESTED the guy who put up a sign on his OWN RESTAURANT saying “no Halal,” NOT the animals that swarmed and attacked him for it The UK is done
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@RoKhanna Those who never built, teach. Those who want to take from builders - envy.
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I mean I did study economics
under Becker & Lucas at Chicago and taught economics for four years as a visiting lecturer at Stanford! But I am not sure the Chicago Economics Department would be proud of that. Ha!
Bay Area New Liberals 🌐@BayAreaNewLibs
When this guy is the voice of sanity, we've definitely lost the mandate of heaven.
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@miles_commodore You will never convince a socialist of that. They believe nothing belongs to the individual.
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Taxing someone’s inheritance is morally wrong. The amount is irrelevant.
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@AutismCapital How in the 1970s, New Jersey Lost the Innovation Economy — and Why Washington State Is Starting Down the Same Path
linkedin.com/pulse/how-1970…
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🚨BREAKING: Washington State passes their first ever income tax. Incomes over $1M/year will be taxed at 9.9%. Married couples share A SINGLE $1M exemption, so if combined incomes are more than $1M, you're getting taxed. This will obviously eventually extend beyond millionaires. What comes for others, will eventually come for you! RIP Washington state!
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@stevemgordon67 @aviel @jesseproudman Cheering you on from the east coast but you are not on high ground. The socialists have control of all chambers.
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Let's Go Washington
We're building a team to Save Our State.
You in?
Looks like @aviel and @jesseproudman are!
aviel@aviel
They have no idea what’s coming. 1. We’re going to have fun doing it. 2. They are not ready for the power of agents. 3. This is going to be unlike any campaign anyone has ever seen. PS: You never want to be up against someone who is having fun 😘 fndtns.org/advocate/
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@joshrauh Don't call someone an architect when what they build will just crash and burn and everyone knows it
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Let this sink in. California wealth tax architect Saez admits it here: he would let 80% of billionaires leave CA, liquidating Silicon Valley and its jobs, for an extra $2 billion per year in revenues. This is in a state that spends $325 billion per year, up by 68% since 2019.
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@DanielSLoeb1 @NYCMayor I did a whole TEDx talk on this.
How in the 1970s, New Jersey Lost the Innovation Economy — and Why Washington State Is Starting Down the Same Path
linkedin.com/pulse/how-1970…
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Causing rich people to leave and deplete the tax base is not a bug but a feature of @NYCMayor ‘s ideology to drive out potential political opposition.
Steven Fiorillo@stevenfiorillo
As a lifelong, taxpaying New Yorker, I am extremely worried about the ramifications of the estate tax proposal on New Yorkers if it gets signed into law. I want to be clear up front; this isn't about politics for me. I'm not fighting for the billionaire class, and I'm certainly not one of them. What I am is someone who understands basic math, economics, and business, who has watched what happens when states push tax policy past the breaking point. Here's what's on the table right now: a proposal to reduce New York’s estate tax exemption from $7.1 million down to $750,000, an 89% cut while increasing the top rate from 16% all the way to 50%. This is embedded within a batch of revenue ideas sent up to Albany to try and plug a $5.4 billion hole in the city budget. I want to discuss who this estate tax actually hits, because it’s certainly not the ultra-rich. The ultra-rich weren’t exempt as only the first $7.1 million avoided estate taxes. A $750,000 threshold in the New York metro area is not reasonable. The median home price in New York City hit roughly $809,000. In Nassau County you're looking at $820,000. Suffolk County sits around $675,000. Westchester is $754,000. If you bought a house in the city, Nassau, or Westchester and you spent 30 years paying off that mortgage like a responsible adult, congratulations, you're now above the estate tax threshold. What’s even better is that you hit the threshold before even factoring in your 401k, life insurance, savings, a family business, or other investments. This isn't a tax on the wealthy it’s a tax on a retired couple in Bayside who paid off their split-level. It's a tax on the family that runs a deli in Astoria and owns the building. When you force those families to come up with 50% of the value above $750,000 after someone dies, what do you think happens? They sell. They liquidate. The house goes, the business goes, and the generational wealth that took a lifetime to build disappears in a single tax event. Family businesses which are the backbone of employment in neighborhoods all over this city get gutted. According to the State Department of Taxation and Finance's own numbers New York's tax structure is incredibly top heavy as millionaires paid 44.6% of all personal income tax collected in 2024. The top 200,000 filers covered 51.9%. The bottom half of all earners paid 0.2%. Think about how fragile that makes us. You don't need a mass exodus. You need a few thousand people to change their mailing address to Palm Beach or Austin and the budget math falls apart. Here's the part that really gets me though. The biggest victims of "tax the rich" policies aren't the rich. The rich utilize their resources and leave once they have had enough because their resources make them mobile. The people who get crushed are the ones who stay such as teachers, firefighters, nurses, and the small business owner. They can’t simply pick up and go. The harsh reality is that when the wealthy leave and the tax base shrinks, the city still needs the same amount of money to run the subways, pay the cops and keep the lights on. So where does it come from? It comes from everyone left behind as they are forced to pay higher taxes, and higher fees. What may bother me more is the double taxation piece. The money in someone's estate didn't just appear from thin air. They earned it and paid income tax. They invested it and paid capital gains. They bought property with it and paid property taxes every single year. They bought things and paid sales tax. Every dollar in that estate has already been taxed multiple times over the course of a lifetime. Now when they die the state wants to take half of everything above $750,000? At what point does it stop being a tax and start being confiscation? That's a genuine question I have because if you work your whole life, play by every rule, pay every tax along the way, and the government still takes half when you die what exactly was the point of saving any of it? A $750,000 threshold doesn't catch billionaires it catches the middle class. It catches people who were never wealthy, they were just disciplined. They bought a house, they didn't sell it, they put money away for retirement, and they wanted to leave something for their kids. Punishing that with a 50% tax rate sends a very specific message: the state believes your assets belong to it first and your family second. I don't care where you fall politically that should bother you. I'll say this very simply. When you tax people to the point where they feel targeted, they leave. When they leave the burden falls on everyone who can't. When that burden gets heavy enough, more people figure out a way to go. That's not theory, that's exactly what IRS data and Census numbers have been showing us for half a decade straight. New York is standing at a fork in the road right now. One direction is more punitive taxation with an increasing dependence on a shrinking pool of high earners who increasingly have one foot out the door. The other direction is putting forward competitive tax policy, fiscal discipline, and creating an environment where building wealth and creating jobs isn't treated like something the government needs to punish. I know which path leads somewhere good. I just hope the people making the decisions figure it out before there's nobody left to tax. @amitisinvesting @BillAckman @chamath @patrickbetdavid @PBDsPodcast
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The hiring slow down in NYC is hitting one group especially hard: Young people looking for entry-level jobs.
This is the other half of the affordability crisis. Addressing this worrisome trend should be a top priority for our city.
bloomberg.com/news/articles/…
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@JohnMChell When they say the warmth of collectivism, the heat comes from burning your life's work.
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So the house that my wife and I worked so hard to buy, to maintain, and then leave to our children will be raided by NYC. To steal my money for failing social programs , to pay for the incompetence of elected officials and to provide for people who don’t and never will contribute. You have to FKM- disgraceful.
1010 WINS on 92.3 FM@1010WINS
💰 Mamdani wants New York estate tax threshold cut 90% to $750,000 spr.ly/6014B6zxa0
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@jonoringer It's hard to get them back. I know personally
How in the 1970s, New Jersey Lost the Innovation Economy — and Why Washington State Is Starting Down the Same Path
linkedin.com/pulse/how-1970…
English
@jaybhatti Yeah exactly.. what will they do when the states want us back?
English
Socialism was never about taxing only the rich….
Steven Fiorillo@stevenfiorillo
As a lifelong, taxpaying New Yorker, I am extremely worried about the ramifications of the estate tax proposal on New Yorkers if it gets signed into law. I want to be clear up front; this isn't about politics for me. I'm not fighting for the billionaire class, and I'm certainly not one of them. What I am is someone who understands basic math, economics, and business, who has watched what happens when states push tax policy past the breaking point. Here's what's on the table right now: a proposal to reduce New York’s estate tax exemption from $7.1 million down to $750,000, an 89% cut while increasing the top rate from 16% all the way to 50%. This is embedded within a batch of revenue ideas sent up to Albany to try and plug a $5.4 billion hole in the city budget. I want to discuss who this estate tax actually hits, because it’s certainly not the ultra-rich. The ultra-rich weren’t exempt as only the first $7.1 million avoided estate taxes. A $750,000 threshold in the New York metro area is not reasonable. The median home price in New York City hit roughly $809,000. In Nassau County you're looking at $820,000. Suffolk County sits around $675,000. Westchester is $754,000. If you bought a house in the city, Nassau, or Westchester and you spent 30 years paying off that mortgage like a responsible adult, congratulations, you're now above the estate tax threshold. What’s even better is that you hit the threshold before even factoring in your 401k, life insurance, savings, a family business, or other investments. This isn't a tax on the wealthy it’s a tax on a retired couple in Bayside who paid off their split-level. It's a tax on the family that runs a deli in Astoria and owns the building. When you force those families to come up with 50% of the value above $750,000 after someone dies, what do you think happens? They sell. They liquidate. The house goes, the business goes, and the generational wealth that took a lifetime to build disappears in a single tax event. Family businesses which are the backbone of employment in neighborhoods all over this city get gutted. According to the State Department of Taxation and Finance's own numbers New York's tax structure is incredibly top heavy as millionaires paid 44.6% of all personal income tax collected in 2024. The top 200,000 filers covered 51.9%. The bottom half of all earners paid 0.2%. Think about how fragile that makes us. You don't need a mass exodus. You need a few thousand people to change their mailing address to Palm Beach or Austin and the budget math falls apart. Here's the part that really gets me though. The biggest victims of "tax the rich" policies aren't the rich. The rich utilize their resources and leave once they have had enough because their resources make them mobile. The people who get crushed are the ones who stay such as teachers, firefighters, nurses, and the small business owner. They can’t simply pick up and go. The harsh reality is that when the wealthy leave and the tax base shrinks, the city still needs the same amount of money to run the subways, pay the cops and keep the lights on. So where does it come from? It comes from everyone left behind as they are forced to pay higher taxes, and higher fees. What may bother me more is the double taxation piece. The money in someone's estate didn't just appear from thin air. They earned it and paid income tax. They invested it and paid capital gains. They bought property with it and paid property taxes every single year. They bought things and paid sales tax. Every dollar in that estate has already been taxed multiple times over the course of a lifetime. Now when they die the state wants to take half of everything above $750,000? At what point does it stop being a tax and start being confiscation? That's a genuine question I have because if you work your whole life, play by every rule, pay every tax along the way, and the government still takes half when you die what exactly was the point of saving any of it? A $750,000 threshold doesn't catch billionaires it catches the middle class. It catches people who were never wealthy, they were just disciplined. They bought a house, they didn't sell it, they put money away for retirement, and they wanted to leave something for their kids. Punishing that with a 50% tax rate sends a very specific message: the state believes your assets belong to it first and your family second. I don't care where you fall politically that should bother you. I'll say this very simply. When you tax people to the point where they feel targeted, they leave. When they leave the burden falls on everyone who can't. When that burden gets heavy enough, more people figure out a way to go. That's not theory, that's exactly what IRS data and Census numbers have been showing us for half a decade straight. New York is standing at a fork in the road right now. One direction is more punitive taxation with an increasing dependence on a shrinking pool of high earners who increasingly have one foot out the door. The other direction is putting forward competitive tax policy, fiscal discipline, and creating an environment where building wealth and creating jobs isn't treated like something the government needs to punish. I know which path leads somewhere good. I just hope the people making the decisions figure it out before there's nobody left to tax. @amitisinvesting @BillAckman @chamath @patrickbetdavid @PBDsPodcast
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