Bryan Clark

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Bryan Clark

Bryan Clark

@bryanclark

VP, Editorial @graphitegrowth Previous work stuff: @nytimes, @popsci, @thenextweb, @wired | Fueled by tacos 🌮 | Subscribe to my Substack (below)

St Louis, MO شامل ہوئے Mayıs 2008
101 فالونگ6.2K فالوورز
پن کیا گیا ٹویٹ
Bryan Clark
Bryan Clark@bryanclark·
Private equity is having a bad decade. So bad that pension funds in Ohio, Oregon, Texas, Alaska, Maine, Nevada, and Washington all cut their PE allocations in 2025. The smart money is leaving. So PE found new money. Dumber money. Your 401(k). 🧵
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Bryan Clark
Bryan Clark@bryanclark·
The minimum wage rose 40% since 2020. Corporate profits rose 60%. Revenue per employee rose 50%. If the wage increase was unsustainable, one of those other numbers would have dropped. None did.
Wolf 🐺@WorldByWolf

This is what left wing retards say in response to legitimate concerns about the minimum wage rising unsustainably. Over 100,000 retail jobs have vanished since Rachel Reeves first budget because companies don’t have unlimited staff budgets or unlimited price elasticity of demand. It’s forecast at least another 100,000 will vanish in 2026 too. The minimum wage has risen 40% since 2020. Clearly that rate of increase is unsustainable. So when @OliDugmore used the left wing populist line that anyone who opposes unsustainable minimum wage rise wants Joe Bloggs to be paid less the response is simply to say Oli Dugmore wants you unemployed and on welfare.

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Bryan Clark ری ٹویٹ کیا
Keith Olbermann
Keith Olbermann@KeithOlbermann·
Bad Bunny: TOGETHER WE ARE AMERICA
Keith Olbermann tweet media
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Bryan Clark
Bryan Clark@bryanclark·
And the worst part? Nobody is talking about it.
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Bryan Clark
Bryan Clark@bryanclark·
The last time Wall Street "democratized access" to a complex financial product ordinary people didn't understand, it was mortgage-backed securities. That went well.
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Bryan Clark
Bryan Clark@bryanclark·
Private equity is having a bad decade. So bad that pension funds in Ohio, Oregon, Texas, Alaska, Maine, Nevada, and Washington all cut their PE allocations in 2025. The smart money is leaving. So PE found new money. Dumber money. Your 401(k). 🧵
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Bryan Clark
Bryan Clark@bryanclark·
@BernieSanders The case for a wealth tax gets stronger when you understand HOW billionaires avoid taxes. It's called Buy, Borrow, Die: grow assets, borrow against them tax-free, die and pass them to heirs with gains erased. Effective rate: near zero. Full breakdown: quibbly.fyi/p/billionaires…
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Bernie Sanders
Bernie Sanders@BernieSanders·
Yes: We need a wealth tax on billionaires.
Bernie Sanders tweet media
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Bryan Clark
Bryan Clark@bryanclark·
@garrytan This math has been debunked, but here's what hasn't: the Google founders can borrow billions against their stock, spend it freely, and never trigger a taxable event. When they die, the stepped-up basis erases it all. It's called Buy, Borrow, Die: quibbly.fyi/p/billionaires…
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Garry Tan
Garry Tan@garrytan·
Larry and Sergey can’t stay in California since the wealth tax as written would confiscate 50% of their Alphabet shares. Each own ~3% of Alphabet's stock, worth about $120 billion each at today's ~$4 trillion market cap. But because their shares have 10x voting power, the SEIU-UHW California billionaire tax would treat them as owning 30% of Alphabet (3% × 10 = 30%). That means each founder's taxable wealth would be $1.2 trillion. A 5% wealth tax on $1.2 trillion = $60 billion tax bill, each. That's 50% of their actual Alphabet holdings—wiped out by a "5%" tax. Section 50303(c)(3)(C) of the 2026 Billionaire Tax Act states: "For any interests that confer voting or other direct control rights, the percentage of the business entity owned by the taxpayer shall be presumed to be not less than the taxpayer's percentage of the overall voting or other direct control rights." This means if a founder holds shares representing only 3% of economic interest but 30% of voting control (through Class B supervoting shares), the tax would presume their ownership stake is at least 30% for valuation purposes, not 3%. The wealth tax is poorly defined and designed to drive tech innovation out of California.
Garry Tan tweet media
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Bryan Clark
Bryan Clark@bryanclark·
@chamath "The middle class will foot the bill" — they already are. Billionaires use Buy, Borrow, Die to pay ~0% income tax. Borrow against stock, spend it, die, heirs get a stepped-up basis. No taxes ever. The middle class subsidizes this. Full breakdown: quibbly.fyi/p/billionaires…
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Chamath Palihapitiya
Chamath Palihapitiya@chamath·
Unfortunate update as of today: More calls from friends. The total wealth that has left California is now $1T. We had $2T of billionaire wealth just a few weeks ago. Now, 50% of that wealth has left - taking their income tax revenue, sales tax revenue, real estate tax revenue and all their staffs (and their salaries and income taxes) with them. In other words, by starting this ill conceived attempt at an asset tax, the California budget deficit will explode. And we still don’t know if the tax will even make the ballot. California billionaires were reliable tax payers - 13.3% every year. They were the sheep you could shear forever. Now California will lose this revenue source FOREVER. Unless this ballot initiative is pulled, we will not stop the billionaire exodus. With no rich people left in California, the middle class will have to foot the bill.
Chamath Palihapitiya@chamath

Collectively, the amount of Billionaire wealth that has left California in the last month (!) is now in excess of $700B. That means the $2T of California wealth they expected to tax is now down to $1.3T and falling quickly. I would not be surprised if 2026 ended with less than $1T of billionaire wealth in California and decades and hundreds of lawsuits. A complete and total unforced error. Where was the Governor? Where are our leaders?? If they don’t kill this ballot initiative and entice those folks to come back, the California budget will be massively upside down. Only place to get the money is to cut waste, fraud and abuse or increase taxes on the middle class. The latter is much simpler than the former.

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