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@teodorio

sailing through the cyberspace

to be determined Katılım Aralık 2012
799 Takip Edilen4.9K Takipçiler
teo
teo@teodorio·
@davidtoniolo this is mostly the reason why I moved my tax residency from Romania too - I cannot and will not pay abusive taxes to incompetent governments that are literally only interested in looting me "for the sake of the common good" (their consulting companies)
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David Toniolo
David Toniolo@davidtoniolo·
I moved away from Australia, officially migrating to Switzerland, and it happened to land just before the CGT changes passed. Very happy with my decision. I'd only been residing in Australia a few months of the year for some time now. My business is international and does nothing in Australia - its customers are European and Asian. None of our staff are Australian anymore (aside from myself). The move was mostly about life. I ski, I hike, I ride downhill - Switzerland wins on all of that over the other low-tax options. It puts me around people I'm more aligned with: pro-capital, optimistic, building things. And it has me far closer to where the work actually is - half my client visits are in Germany. Tax was a factor too, I won't pretend it wasn't. But it was the last reason on the list, not the first. I love Australia. I was prepared to pay high taxes there to do my part. But its general and increasingly recent disdain for capital, for economic freedom, and the cultural shift against "the rich" had become too great for me to tolerate. I can pay high taxes. But I can't pay high taxes to people who hate me for the success I've happened to find. I worked very hard, took a lot of risk, and dealt with the shame of making what were seen as ill-advised life decisions in the eyes of my family and many of my friends for years. And on the other end, I found myself with a little luck that carried me through to a place I couldn't previously have imagined. I don't take full credit for my place in life. I was born in the right place to the right people - not rich, middle class, an accountant father and a stay-at-home mother, good parents who raised me right in a stable household - and even at the right time. But I took the opportunities luck gave me and ran the best race I could from there. I want everyone to reach financial independence. I want the world to grow wealthier. I can contribute to that vision. I will not, however, do it for people who despise the journey it takes to get there. Because that's what the resentment really is. It isn't principle - it's pessimism and envy. And more often than not it's fomented by people who were ambitious themselves, who set out to build something and fell short of their own expectations, and turned that disappointment outward - onto the people who made it, and onto the system itself.
Buyback Capital@Larryjamieson_

Assuming the changes to CGT go through, what do you plan to change with your investments and/or your tax residency?

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teo
teo@teodorio·
@47fucb4r8c69323 there is no such thing as time as observed by us either. When you notice the passing of the time that nanosecond is already gone. you live in a sort of experiential bubble in time space!
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47fucb4r8curb4fc8f8r4bfic8r
47fucb4r8curb4fc8f8r4bfic8r@47fucb4r8c69323·
If you put a male sparrow in an audio booth and play a recording of another male sparrow's mating call, you can see activity in the amygdala suggesting that it feels a threat. And if you give it testosterone before hearing the song, then hormone levels are heightened and worsened. It seems to me that what we're seeing here is a paradox and a puzzle. Does the bird have the feeling that then triggers the chemical, or does the chemical trigger the feeling? And this is not an empirical question, this is a philosophical question. This is a question of ontology: what is fundamental, the feeling or the biochemical expression of the feeling? And we can dissolve this paradox entirely just by looking at the bird's behavior not as a bird object, as a thing that exists, a thing that is being and is then experiencing the sense data of the world that then produces a feeling within the ontologically fundamental being of the bird as discrete object in the world (another discrete object). Dualism fails. If we rather see it from a process philosophy perspective, there is no paradox. The bird is constantly becoming while never being a being, and we can ground this empirically in the observation that an absolute stop of time is impossible and absolute zero Kelvin is impossible. A discrete being separate from its world is, scientifically speaking, nonsense. Then we can argue that what we're observing is not so much a question of what comes first, the feeling phenomenon or the physiological phenomena, but rather both are expressions of the same phenomenon: constant becoming of a dynamic continuous universe. One is an affective description, one is a physical description, and both are equally correct, just in different grammars. And then if we look at it this way, and we extend it to an ontological question of what is fundamental, the answer is simple: becoming. And thus we get a philosophical theoretical bridge between Wittgensteinian or late Wittgensteinian theory and Buddhism that dissolves our confusion about how the body and mind/spirit (these are the same word in most languages) relate to each other. They're both the same picture.
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Leo Webb
Leo Webb@leowebbhk·
@teodorio I thought the election of Nicosur Dan indicated good things. Is he exceptional? Will he be able to "turn this ship around" as the kids say?
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teo
teo@teodorio·
The issue with Romania is that despite insane elite human capital (you will see that most tech or finance companies in Europe and the US have Romanians in their lead engineering or board positions), the political ruling class is probably of the lowest quality in Europe (bar Bulgaria). Natural resources, a well educated elite and great strategic position, with a really well developed industrial base, Romania is growing despite severe mismanagement in recent years. Most entrepreneurs and business people here avoid at all cost to work with the state as the justice and fiscal systems are so byzantine and weaponized that you become a target just by cooperating. So they try their best to avoid and comply with ANAF, avoid any politician or government bureaucrat and work with the local population and external investors and markets (the locals being extremely hard working people). You end up having these "household" companies then that finance the media and get juicy construction, energy or consulting contracts and management of state firms, which provide inefficient services and goods and further clog the economy. If the hold of the security services on the economy and the government apparatus would subside with a judiciary and fiscal code overhaul, I think Romania has the potential to become one of the largest EU economies. But again, being in politics is a toxic and dangerous affair, you won't see Matei Zaharia from Databricks taking role in parliament (neither will you see Teo from Twitter lol) so we are where we are
Jason - macro / offshore / investing@MacroJason

In so many of these metrics where Poland is ranked 1st - Romania is often right behind (or ahead). But you rarely hear about it. Examples 👇 - Polish average salaries grew 2x in last 10 years. But it grew 3x in Romania. - Adjusted for inflation, Poland's income per capita is up 90% since 2004. Romania is up near 140% (top in EU). x.com/EU_Eurostat/st… - Polish equities index $EPOL had an amazing last 12 months up 30%. But Romanian equities index #BET is up 88%. - Most international financial headlines on Romania talks about it's deficit situation. Poland's deficit is no better but we rarely hear about it. x.com/MacroJason/sta… - Romania hasn't defaulted or restructured a sovereign bond in 93 years. Poland did so 44 years ago. linkedin.com/feed/update/ur… - Poland's English proficiency is impressively ranked 15th place globally. But Romanian is ranked 11th. (Similar on IT talent per capita). - Poland is one of the more energy independent countries in the EU. But Romania is the largest nat gas producer in the EU. x.com/MacroJason/sta… I'm still developing my thesis on why Romania is so over looked relative to Poland by international investors. Some existing ideas 👇 - Lower quality governance and institutions (though the reality is that over a long enough timeline, the quality of the government reflects the quality of the people) - Polish cities and infrastructure is shiny and modern. Romanian infra seems at least 30% behind. You sense it from the moment your land in the airport. - Gypsies really caused a lot of damage to Romania's reputation abroad. - Overall lower sense of civic duty, discipline and reliability across the society. More 'leaving things till the last moment' and corner cutting mindset. (Maybe Poles are better with these things as they traded with Germans more historically). Despite the above, I still see deep value in certain Romanian assets vs Poland. If you followed my account for a while you know what I'm doing with my own portfolio (gradual rotation from Poland to Romania since 2022 👉 x.com/MacroJason/sta…) On top of above, there is a crucial area that I think Romania (and Balkans) has a higher potential of leading Poland in over the coming decades: geopolitical flexibility in a multipolar world. Will leave it to a future post.

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teo
teo@teodorio·
@AndyAyrey they're extremely good if you understand how prompts cumulate and generate token "roads" where you can get stuck in
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teo@teodorio·
I've realized now why I hate adaptive reasoning so much or hiding the reasoning tokens: I can immediately check if my prompt contained a good enough direction and enough information for the model to start the scaffolding correctly. It allows me to not throw my prompts blindly and get stuck on a token path that it takes a couple of prompts to fix! It's like a superpower of seeing in the future and predicting what the response will be before it happens, and knowing why the answer happened as well. Sometimes I interrupt 5.5 xhigh or Opus 4.7 3 or 4 times before I let them complete their response as I can see that their approach is wrong or they are lacking the necessary information.
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teo
teo@teodorio·
@47fucb4r8c69323 Going hard at the benchmark of the day I see lmao
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teo
teo@teodorio·
@gurenyov go to nordului (expensive but fun!!) at Casa Di David on the terrace or at Osho in primaverii for good beef
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igor
igor@gurenyov·
@teodorio This is my current plan And then some dinner around Primǎverii
igor tweet media
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igor
igor@gurenyov·
I’m here now btw
igor tweet media
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teo
teo@teodorio·
@crypt0lake yeah and the high human capital europeans do the same
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cryptolake
cryptolake@crypt0lake·
@teodorio while taxes continue to increase and innovation dwindles the top immigrants in europe are all leaving as soon as they get the passport for the gulf
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teo
teo@teodorio·
I get why the eurocrats are importing unlimited "human capital" of questionable quality from wherever they can. The median will increase even faster and having 60-70% of your population as pensioners supported by 30% of the working adults will break the social contract
EU_Eurostat@EU_Eurostat

In 2025, the median age of population in the EU was 44.9 years. 👶 Highest in the EU: 🇮🇹 Italy (49.1) Lowest in the EU: 🇮🇪 Ireland (39.6) 'Demography of Europe – 2026 edition'👉 link.europa.eu/fdDvc9 ℹ️Map includes EU, EFTA and candidate countries with available data.

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teo
teo@teodorio·
@Gianpattention which is idiotic and probably malice rather than incompetence
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Gianpaolo
Gianpaolo@Gianpattention·
@teodorio if that was the actual reason they would at the same time immediatly and very violently deport immigrant parasites. No "family reunification" would be allowed unless the individual works, and so on. Like germany did with italians in the 50s, correctly. But they don't
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teo
teo@teodorio·
@HistorianZhang the only hope is that most up and coming political generations are woke-ish (EU green style) and mediocre, but even they have their own "friend" in green consulting companies. and the non-mediocre ones are insanely stupid and cater to the low human capital part. clusterfuck
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Lawrence Zhang 張樂翔
Lawrence Zhang 張樂翔@HistorianZhang·
@teodorio Yeah once you're stuck in a rut like that it's really difficult to fix since fixing means kicking out all the people who shouldn't be there
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teo
teo@teodorio·
@HistorianZhang the only saving grace are some laws/reforms work, most suck or are idiotic but there have been some moves from funnily enough PSD (the socialist and mostly corrupt party) pro business (low taxes and ease of incorporation) and better infra and industry. recent government blew it
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teo
teo@teodorio·
@HistorianZhang it is but it's a doom loop - no individual of quality or skill wants to get involved so only the stupid, corrupt or mediocre (worst case scenario sometimes) get involved. most get tainted or achieve nothing
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teo
teo@teodorio·
@gurenyov yeah most romanians speak english to a decent degree. Most of our restaurant and cafe menus are in English too!
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igor
igor@gurenyov·
@teodorio Honestly, I was surprised how well regular people speak English in Bucharest You don’t see this in Warsaw that often and I don’t understand why still 🤔
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teo
teo@teodorio·
@springmerchant yeah that's the issue basically, digisign or certsign would not survive without anaf for example. And a ton of other examples of consulting and "IT" and construction companies that just kick back to one of the services
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Emilian
Emilian@springmerchant·
You touched on this in the post, but a lot of companies want to do business with the government. There's plenty of construction companies, IT companies that work only with the state winning a bunch of contracts. They wouldn't survive without that. If you know somebody on the inside, like a mayor or a local councilor you can pretty much win any gov. contracts. You might need to setup a no-show or no-work job for somebody's cousin though.
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teo
teo@teodorio·
@johnway yeah, also post communism and the anarchic first 10-20 years of democracy. kind of hard to reset
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@johnway
@johnway@johnway·
@teodorio Is this an institutions problem? I know that Ireland had the same problems for ages before it became “rich”, and the North still has a lot of them. Corruption in the political class comes from a history of low outcomes, at least as far as I’ve seen.
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