Pastor’s kid

I think growing up as a pastor’s kid may have been a big advantage in life. We did not have money, but we had status at the church, and at elementary school since that was in the church. I probably always received extra attention because of that, and also just spent a ton more time around other people than I would have otherwise.… read more “Pastor’s kid”

Inside Foxconn’s empty buildings, empty factories, and empty promises in Wisconsin

https://www.theverge.com/21507966/csk-8th-wonder-of-the-world

In a best-case scenario, the Legislative Fiscal Bureau found the state wouldn’t break even until 2043. Depending on how many people Foxconn hired, each job would cost taxpayers somewhere between $200,000 and more than a million dollars. The average subsidy in the US is around $24,000 per job.

Tornato7 wins comment of the year…

Here’s a thought experiment about a theoretical company that can obtain incredible valuation.
You start out with some money from friends and family, and you use this money to sell $100 bills for $50. Lots of takers.

Soon enough, you go to a VC and show them your revenue stream, and tell them with more capital you can make the margins much better.… read more “Tornato7 wins comment of the year…”

Intergenerational Wealth Transfers to Boomers

Two generations ago, 90% of Americans could expect to earn more than their parents. Today, that number is under 50%.

Why?

In 2008, during the Great Recession, Boomer politicians brought in massive bailouts for their friends and fellows in their generation. Instead of going bankrupt, many banks and companies were instead given money taken from future generations.… read more “Intergenerational Wealth Transfers to Boomers”