TAX SECOND HOMES

“The only real systemic impact that it will have is on the consumer spending habits of lower income households who, as you said, in the lowest income, spend nearly 20% of their total expenditures on gas. But other than that, it's not gonna hurt the top quintile very much at all. It's also not really gonna hurt tech companies that much. I mean, there was some concern at the beginning that some of the materials that go through the Strait of Hormuz are used for chips, but eventually people started to be a little bit less worried about that.”

“The defining issue of our time is income inequality. And what's so sad about it is the incumbents who benefit from income inequality will weaponize this bullshit notion of complexity and talk about technology and network effects. And at the end of the day, it's just about redistribution of income. And that is stop transferring wealth to corporations and the wealthy. Corporations are paying their lowest taxes since 1929.”

“I think what you're going to have here is one, there's a huge opening for even a distant number two to SpaceX, and two, the most popular loyalty program in the history of the planet is Amazon Prime. And I think the mission here, what I would be talking about if I were in strategy at Amazon, is we're going to offer a competent phone. It won't be as good as the iPhone, but it will be as good as an Android phone. And with Amazon Prime Plus, you're going to get Wi-Fi, you're going to get blazing fast broadband into your home.”

“And there are one million total industrialized robots under at Amazon, in an Amazon warehouse or somewhere in Amazon infrastructure. The rest of the nation, private companies, has a total of 400,000. And AI was the thing that took is going to help industrialized robotics meet its potential too. They're talking about using AI industrialized robots to not increase their personnel by one person in their biggest business set as Amazon retail.”

“I just think that it's gotten absolutely destroyed on a valuation basis. And I actually bought it in SaaSpocalypse one. I built up a decent position there. I bought it at around $400. It got battered, continued to get battered. And then last week, I was looking at it, it was $380 and I just doubled my position. I was like, fuck it. As we record this, we're up to $420 per share. So it's risen 10% in literally a matter of days.”

“Fourteen states now have active bills proposing restrictions or outright bans. So, Scott, this is something I wrote about in my newsletter about two months ago, this idea that the biggest obstacle to AI isn't energy, it isn't compute capacity, it's its own popularity. Since I wrote that, some crazy things have happened. There were the attacks on the councilman's house. He supported a data center. Someone shot at his house thirteen times and they left a sign that says no data centers.”

“And I've said for a long time, I think the NASDAQ and the Dow are two of the worst metrics or most unhealthy metrics ever invented because they give the illusion that people are doing well. And it really is, it's a proxy for earnings and a proxy for the wealth of the top 10%. So what do you have? All right, so, I mean, think about it. If the majority of our markets now are being run by 10 companies that are in the business of AI or online or software, do they care that gas prices are up?”

“And I've said for a long time, I think the NASDAQ and the Dow are two of the worst metrics or most unhealthy metrics ever invented because they give the illusion that people are doing well. And it really is, it's a proxy for earnings and a proxy for the wealth of the top 10%. So what do you have? All right, so, I mean, think about it. If the majority of our markets now are being run by 10 companies that are in the business of AI or online or software, do they care that gas prices are up?”

“Fourteen states now have active bills proposing restrictions or outright bans. So, Scott, this is something I wrote about in my newsletter about two months ago, this idea that the biggest obstacle to AI isn't energy, it isn't compute capacity, it's its own popularity. Since I wrote that, some crazy things have happened. There were the attacks on the councilman's house. He supported a data center. Someone shot at his house thirteen times and they left a sign that says no data centers.”

“And there are one million total industrialized robots under at Amazon, in an Amazon warehouse or somewhere in Amazon infrastructure. The rest of the nation, private companies, has a total of 400,000. And AI was the thing that took is going to help industrialized robotics meet its potential too. They're talking about using AI industrialized robots to not increase their personnel by one person in their biggest business set as Amazon retail.”

“I wonder if there's also been a little bit of what I would call the timeline fatigue, where we thought we understood what the story of this war was. And there were all of these different plot points. We strike Iran, we kill the supreme leader, but then the son is appointed. Then Trump says that we've had productive talks and we think that maybe the negotiations are going to go somewhere. Then they don't. Then he says, open the fucking street, you crazy bastards.”

“I just think that it's gotten absolutely destroyed on a valuation basis. And I actually bought it in SaaSpocalypse one. I built up a decent position there. I bought it at around $400. It got battered, continued to get battered. And then last week, I was looking at it, it was $380 and I just doubled my position. I was like, fuck it. As we record this, we're up to $420 per share. So it's risen 10% in literally a matter of days.”

“I wonder if there's also been a little bit of what I would call the timeline fatigue, where we thought we understood what the story of this war was. And there were all of these different plot points. We strike Iran, we kill the supreme leader, but then the son is appointed. Then Trump says that we've had productive talks and we think that maybe the negotiations are going to go somewhere. Then they don't. Then he says, open the fucking street, you crazy bastards.”

“The defining issue of our time is income inequality. And what's so sad about it is the incumbents who benefit from income inequality will weaponize this bullshit notion of complexity and talk about technology and network effects. And at the end of the day, it's just about redistribution of income. And that is stop transferring wealth to corporations and the wealthy. Corporations are paying their lowest taxes since 1929.”

“The only real systemic impact that it will have is on the consumer spending habits of lower income households who, as you said, in the lowest income, spend nearly 20% of their total expenditures on gas. But other than that, it's not gonna hurt the top quintile very much at all. It's also not really gonna hurt tech companies that much. I mean, there was some concern at the beginning that some of the materials that go through the Strait of Hormuz are used for chips, but eventually people started to be a little bit less worried about that.”

“I think what you're going to have here is one, there's a huge opening for even a distant number two to SpaceX, and two, the most popular loyalty program in the history of the planet is Amazon Prime. And I think the mission here, what I would be talking about if I were in strategy at Amazon, is we're going to offer a competent phone. It won't be as good as the iPhone, but it will be as good as an Android phone. And with Amazon Prime Plus, you're going to get Wi-Fi, you're going to get blazing fast broadband into your home.”