The Talent Vortex: Mafias and Magnets

I actually really enjoyed this post! Thank you for posting it. I often feel like I am looking for a Junto!

Same old …….

An under-appreciated consequence of the self-made rich is that they passed enormous filters to acquire their wealth. They surpassed crazy odds and - even if you claim it was all survivorship bias and luck - they still succeeded through very difficult odds in very difficult circumstances.

I much prefer the early people at PayPal having billions to invest as they see fit than the government, which is full of politicians and their lackeys, whose primary skill is glad-handing and playing politics (something tech people say they hate).

The US government spent trillions on various permutations of bailouts, and now is spending hundreds of billions forgiving student debt and picking winners in the electric vehicle and battery space.

Let’s let the tech founders and their inner circle keep their (vastly smaller) riches and see what they come up with. I’d bet on them investing much more carefully than whatever pork the government passes next. At least with them my tax dollars aren’t funding their shenanigans (unless they are launching the next EV startup).