Craft Ventures' David Sacks argues Elon Musk's potential trillionaire valuation represents future productive output, not liquid cash

full pod

@jayplemons @DavidSacks Yes, but government subsidies also come into play here. Elon got massive subsidies. Question is, should the government put their finger on the scale for private development projects.

@jayplemons @DavidSacks I am amazed that our schools do such a poor job in financial literacy that people don’t understand this at a fundamental level.

The fact that politicians can so easily fool us must be the point of US education.

@jayplemons @DavidSacks Sacks is wrong ! His did Elon buy twitter ? He pledged his Tesla shares so basically he monetised his shares to acquire a company without paying tax on it ! So this isn’t the beauty of capitalism but a disadvantage of it .

@jayplemons @DavidSacks Controlling the means of production is how socialism keeps humanity in the stone ages.

Capitalism allows for advancement of humanity thru creation and anyone can participate.

Socialism forces equality while capitalism is an equal opportunity employer because you’re the boss.

@jayplemons @DavidSacks He doesn’t have to sell, he can borrow against those assets that now have a greater valuation. He won’t get taxed on loans so he saves money by borrowing instead of selling because the interest rate is much lower than the capital gains tax on a sale would be 🧐

@jayplemons @DavidSacks

Thanks for explaining how Elons wealth has accrued. The outrage and jealousy was and is very apparent. I would have expected someone like Elizabeth Warren would understand. Obviously not, her wealth never came from hard work, she has no idea what Elon went through to get to this point. She is not a visionary, she is a taker. Elon deserves every bit of wealth he has, he worked for it, he had his ups and downs. When he nearly went bankrupt in 2008, very few would have bailed him out. It was his determination and vision that made him who he is today. He never gave up. He deserves all that he has got. Praise him instead of vilifying him

@jayplemons @DavidSacks This is an accurate but complicated interpretation of it, which makes me doubt its usefulness to most people.

@jayplemons @DavidSacks Yes, but for some it is impossible to understand. If you think itvis fixed pie, then sure Musk must have stolen from someone. Communism only works in a fixed pie environment.

@jayplemons @DavidSacks Elon started with the money from the blood emeralds his dad was mining in apartheid South Africa. Gtfoh

@jayplemons @DavidSacks The other reason the left hates @elonmusk isn’t that he’s generated wealth, but that he was instrumental in electing the Bad Orange Man. @chamath @friedberg

@DenterBrad @jayplemons @DavidSacks How do i benefit from starlink? Or this platform which is full of retards likw you

@jayplemons @DavidSacks David Sacks is so smart and such a good speaker. Still don't understand how he believes AI will cause more jobs!!

@jayplemons @DavidSacks Elons WEALTH is the MAGIC of mostly Democratic GOVERNMENT SUBSIDIES and currupt BABY BOOMERS grooming the dozen worst GEN Xrs they could hatch at Stanford or Harvard.;) truth all.

@jayplemons @DavidSacks If Sacks needs to explain this and people find it a masterclass, it shows the avg level of financial wisdom in the world.

@jayplemons @DavidSacks How is elon creating prosperity for everyone? How does average joe benefit day to day from a rocket landing? I can understand the case for apple, Microsoft, google, amazon. They truly benefit everyone. Elons net worth is financial engineering

@jayplemons @DavidSacks Bs point because now he can take out more and higher loans against the ipo

@BillAckman Quote of the century: "If you create a machine that makes more stuff, then there’s a discounted present value for all the stuff in the future that machine might create. That’s where the wealth comes from."

@jayplemons @DavidSacks did retard AI write this? sigh