What he said. Wealth tax is always proposed by people that have 0 experience and knowledge from business, and it shows
Ro, I like you. You know that. But you need to read the state of the state.
The number of Deca Unicorns in Cali is growing by the day as investors chase amazing startups.
A unique feature of these 10b startups is that even if they raise a billion, little, if any of that money goes to the founders, who are now worth billions of dollars over night. They are the definition of cash poor, stock rich
How are you going to tax them ? Make them borrow money against their shares, if they can? They just raised money to grow their company and a bank will come along and loan them money ? A company that has been in business maybe less than a year ? lol
Will you take their stock if they can’t ?
Do you really think each of multiple founders, who started an amazing company in Cali and is now a billionaire, can each just pull out $250m per billion of net worth from their raise ? You know they can’t.
If this passes , and it doesn’t directly impact me at all, I won’t be a cali resident, but you can bet if I’m investing in a multi billion dollar startup, I’m asking them to move from California first.
IMO, if this passes, only idiot startup founders stay in Cali.
I’ve done it before and will do it again. Dallas. Pittsburgh. Indiana. I will make NOT being in California a pre requisite for an investment
Ideology is not a strategy Ro.
The dumbest people I’ve met in my professional life are the only ones who ever talk about Lovable. It can’t be a coincidence
Norway is a rich trust fund brat. It inherited oil money and has zero knowledge of how to create wealth.
Don’t take wealth creation advice from it. US capitalism is far superior.
You wouldn’t ask a wealth manager how to build a business. Completely different job.
Is there more innovation from AI or have the 500 million «I have an app idea» people now become «I’m working on this idea…» people
The people who uninstalled are the same people who also refuse to pay for products, so OpenAI lost $0 revenue
>be Anthropic
>lost the $ 200M Pentagon deal to OpenAI
>still hit #1 on the App Store
>ChatGPT uninstalls surged 295%
>shipped “Memory”to pull users over from ChatGPT
>launched Claude Marketplace
>Lovable, Replit, Harvey now plugged into millions of Claude users overnight.
counter "Just because I can buy my own ingredients doesn’t mean restaurants will go to zero. In fact, I can’t even remember the last time I cooked for myself."
Sebastian Siemiatkowski, the co-founder and CEO of Klarna: SaaS is Dead.
"The cost of creating software is going down to zero. And that means everyone will be able to generate software at any point in time. "
But the real threat to SaaS will shows up next when AI makes data migration one-click—no more hostage data models, no more painful switching costs.
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From '20VC with Harry Stebbings' YT channel ( link in comment)
My entire story 100% uncensored, for the people curious about who the fuck I am I guess there’s no better video
youtube.com/watch?v=WLgymptz…