cdfky

Correction they pay equivalent income tax to the bottom 90% (and a third of all once tax)

What duty - when tax dollars are spent on regressive policies, teachers unions, handouts and bailouts. Look at infrastructure and schools in the US.

1% of income earners already pay 90% of income tax in the US.

What more do you want? Wealth is not a zero sum game. Billionaires employ millions of people.

Even if you could tax 100% of all billionaire money, you will only fund the entire federal governments spending by a year.

Fix where the money is spent first. It is highly inefficient

Capital is there because foreigners who park their money are not subject to a wealth tax

I can show an example otherwise - the PM of Singapore saying no to Bill Clinton when he asked the Singapore authorities to not impose corporal punishment on an American citizen (caught for vandalizing cars).

Singapore is not just dependent on the US. It depends heavily on China too. Defense wise, Singapore has one of the strongest forces in the region.

And most millionaires in Singapore are Singapore citizens.

Singapore's status is not just some offshore tax haven, as seen by many in the west. It has a diversified economy.

Regulations constraining housing like oning laws and hefty building codes are a thing

That's not Thiel's argument at all. His argument is that the most innovative companies tend to become monopolies.

However monopolies are not always due to innovation, nor our monopolies inefficient. As you mentioned, it's a function of things that repeat, but also due to stronger players that gobble up less efficient and/or innovative firms.

I would read between the lines. Business history is indeed difficult.

Unfortunately 10m - 100m can't do much in developing countries - from my experience.

But in developing and emerging economies you can make a huge impact.

While I would say you shouldn't fully trust some people, coming up with wild conspiracy theories don't help.

Not trusting people with money (regardless if it's a lot) says something about society in general. People should understand that even amongst the rich, people are very different and diverse despite being in the same socioeconomic class.

Caning is not used for minor offences, only for violent crime. It's more like a $300 fine

All markets are irrational. It will take time

If it burns down perhaps a functional skyscraper should be built in it's place. It would be a testament to a better, modernist future that we could build if we disregard all prior historical biases people all over the world still have