jppope

Lots of people assume that the valuable thing is the direct business, but a business can be a lot more than that. A competitor may buy you for your engineers or sales team or patents, or assets, or whatever (e.g. Siri, Motorola, etc)... and just toss the rest of the business or sell that stuff off after they have what they want. In other industries they may just buy companies for their assets. Also you never know what will happen with a pivot (e.g. twitter, slack, etc).

The bleak reality is if you can keep growing (making more money than you spend) that alone is usually desirable enough for people to keep giving you money and eventually provide an exit. Why? because it's really hard to do. Its a skill.

Here's Malcom Gladwell discussing spagetti sauce which feels oddly relevant: https://youtu.be/iIiAAhUeR6Y?si=UJUUiF6H0j6IY3lL

Whats your criteria? Is there an analytical component? Are you willing to work on something even if "success" is unlikely? And with all of this going on how do you have time to work on books!

thank you for your work by the way. It continues to be useful year after year to me and people around me!

  - shrimp scampi
  - Old Adage
  - chai tea
  - Naan Bread
  - Rio Grande River
  - Lake Tahoe
  - PIN/ VIN number
  - ATM machine
  - GPS system
  - Panini sandwich

I totally understand what the article is about though... I went on to my wife's instagram and her ad load is unbelievable. She probably has to look at 1 ad for ever 3 reels or images or whatever the hell they call them. I couldn't imagine having to see that many ads.

Last quick note - part of the reason why I avoid that kind of media, and use the tech to block it. I had a professor in college who pointed out that the purpose of ads is not to sell something, its actually to make you unhappy.

... but appreciate what you have too

The expectation for him was to work 50-60 hours a week, not including commute, getting ready for work, and corporate social events. Time off was strictly 2 weeks until you hit a certain level and then you'd get 3 weeks. He didn't get sick often but if he was he still went to work.

Dad had it good. I used to jump on landscaping crews during the summer in SoCal and watch 60 year old guys break their backs for 12 hours to get ~$250 a day. I'd do it on the weekends for spending money.

I enjoyed the article but reading through all of the comments in this thread I'm genuinely surprised by the lack of appreciation for how good we have it. There's a "demographic" on HN and I'm pretty confident it aint the guys doing concrete work or running vampire hours at the local 7-11.

Moving around some 1s and 0s in between some coffee and meetings even at the bad companies isn't that rough in the grand scheme of things. I get what the article is trying to say - with all the productivity improvements when do the grunts get a little bit of those gains back?Unfortunately thats not how it works. It's "Red Queen Theory"... when something new changes the game you adapt or die - "It takes all the running you can do, to keep in the same place."

I consider this fine, because proponents of a wealth tax consistently omit that it will ultimately be the middle class who pays the tax... the ultra-wealthy and wealthy can afford sophisticated strategies to render a wealth tax ineffective against them, and if that doesn't work they can just move somewhere else. Income tax was the same.

The only way this system can continue is if we increase the receipts (aka tax revenue).

The political class has very wisely targeted "the wealthy," who are capable of tactically avoiding taxes, but as always it will eventually include the middle class who will ultimately be paying the tax. From their standpoint they will popularize this tactic because it will work

This is being sold as class warfare, but its really the evolution of our political system into an unsustainable system of patronage with public funds.

We have plenty of other problems like "buy, borrow, die" (discussed elsewhere in this thread), but ultimately the wealth tax stems from needing more public funds, which stems from politicians spending all of our money.

This is incorrect, historically you'll pay a ~2%-3% loss via inflation if you keep your money in cash. If you invest (making it capital) in bonds or securities then you will see accumulation, but thats actually a risk premium.

> Additionally, wealthy people can use securities as collateral for near zero interest lifetime loans which also bypass having to pay income tax.

This is true, its typically called "Buy, Borrow, Die" but the reality is that it is only available to a very small percent of wealthy individuals and exists because of the way inheritance is handled ("stepped-up basis"). Even reasonably (not fabulously) wealthy people will still pay retail rates on the loans making the tactic basically ineffective. Last I heard you needed something like 100M+ liquid for lenders to even consider it (presumably, because they will make more off of some other deal with you)

I would have no problem leaving if something better came around, and I have no problem adapting if I need to, I just believe that there is going to be a MASSIVE increase in demand for high performing software professionals with experience... we just aren't seeing it right now because of the business cycle.