You want to know how he did it? He skipped 34.67 billion lattes. It's that easy.
Nothing to promote, but I just want to say to the hundreds of guys that mansplained how I was wrong, and how he made his money, you’re totally wrong. So incredibly wrong.
It was definitely the lattes. 100%.
It’s not even up for debate.
3/ Fine. I’ll spell it out for the folks that didn’t get it. It’s not about Elon, it’s about personal finance.
No one gets rich saving $5 on coffee.
It’s advice rich folks give to working class folks so they feel like it’s their fault, when really the low wages are the issue...
4/ People understand it, so they feel smarter.
Saving $1,800/year on coffee doesn’t buy you a house if it’s going up by that amount per month though.
The financial system has been broken since the Great Recession, and the issue is more complex than skipping ☕️ and 🥑 toast.
If you enjoyed this thread, you might enjoy my other thread that made people angry for months....
Albertans: This is a beautiful place. I can't believe no one else lives here. The air is so clean.
Ontario: I hear Alberta has oil. Let's invade it for Bay Street.
Ontario Born Premier: Ontario doesn't want us to rip up the province. We'll show them, won't we‽! *winks*
I hope it's not lost on you that Alberta's problems are a bunch of people from Ontario arguing if a few international investors get to exploit it or not.
Reading the minutes of the investors that bought Hudson Bay company in 1863. They didn't want the business, but wanted the value of land - far in excess of the work being done on it.
In other words, Canadian real estate speculation pre-dates Canada.
Less surprising, but still funny, is they argued private land ownership is beneficial, because it can be sold to immigrants to raise taxes.
The investment thesis for real estate never changed. Selling it to immigrants far exceed the value of productivity value.
"HBC was here for beaver pelts!"
No, HBC was here for beaver pelts, and the private equity firm that bought them in 1863 saw little value in pelts, but thought it was a good way to sell settler condos.
I can't wait until all of the timelines on this episode of the Apprentice converge, and we find out Epstein is Q.
Just kidding. Fun fact though: Our partner studio has a doc under production on Q that's been filmed over the past year. They sent crews to interview everyone who's rumored to have started Q.
Can you imagine being in Beijing, and waking up in a hour to the world's most powerful country being thrown into disorder by some guys wearing beaver pelts?
*Xi looks at Putin*
Xi: Did you do this?
Putin: We thought you did.
Xi: Nope.
Kim Jong-un: *eating fries*
Xi: Just some guys wearing pelts? Beat a multi-trillion dollar defense program? No hacking, no army, no anything. Just got drunk and walked in?
And Putin, with his Putin-feet ice cold in the snow,
Stood puzzling and puzzling,
How could it be so?
It came without bribes.
It came without fake news.
It came without hacking, or false clues.
And he puzzled and puzzled 'till his puzzler was sore...
Okay, so it's been a while since I did a supervillain school post, so I'll try to make this one good.
Let's talk about J. Paul Getty.
Looking at how the industrialist made his money, you'll understand why middle class people will never understand taxes.
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2/ For those that don't know, J Paul Getty was one of the wealthiest guys in history. He mostly made his money in oil, but he was truly a pioneer in what I call organizational income efficiency.
See, his company was so efficient, it barely ever payed taxes.
3/ The play worked like this. Most people *know* he owned oil fields, but he didn't officially. A trust did.
Besides the oil fields weren't profitable. They would spend all of their money at shipping companies.