100 karma · joined August 27, 2017
A high vote count is not an unmitigated good.
"Then earlier this year, he got a letter saying 333 Midland wasn’t up to code and it would have to cease operations immediately. He took care of the minor matters the fire marshall requested, like installing exit signs and extra fire extinguishers. But he still can’t get a clear answer from the building inspector about what else needs to be taken care of"
Con Ed doesn't have this problem and manages to make tons of money, despite providing power to I assume some number of literal nazis.
It seems like this fund is using this to its profit. Good for them. It does almost seem, given that level of investment in the actual enterprise, like equity or some sort of hybrid instrument better represents the risk of the investor & the amount of effort they're putting into seeing the ventures succeed.
(Incidentally, this pretty solidly mirrors the approach to high-risk students of basically saturating them with life coaching, which seems to work pretty well as long as you can actually invest that level of resources continuously).
Taxing "capital", by its monetary value, is much easier, and has a similar effect of promoting labor substitution. It's also universally despised by economists for the obvious reason that accumulating capital increases the return to labor under most models and makes everyone wealthier.
Of course California state politics are notoriously dumb, so who knows what'll happen.
IMO if you don't have a case of water, a road map, and a change of walking-around clothes in your car around here, you're asking for smiting. Fortunately that's about $10 in total, and you can drink the water even if there's not an earthquake.
Additionally, near everything that would be handy in case of an earthquake (gloves, pry bar, basic trauma supplies, etc) is useful in case of a car crash, which actually is far more likely.