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read the propublica article - it explains. or be lazy. loans ;) in particular low interest loans. as high interest loans would sort of ruin the plot and those are reserved for the working class.


Interest rates aren't magic; secured loans have lower rates than unsecured.


Your mortgage is a low interest loan. Should we tax your mortgage as income?


Yes, but deduct the house that the loan buys as an expense.


Then if you take a $500 million loan backed by your stock holdings to build a yacht, why not deduct the yacht as an expense?


The house the mortgage paid for is taxed.


I assume you're talking about property taxes, which is not really what we're talking about here.


some fair arguments here... but this is exactly the same kind of vibe most people emitted when i went to CS grad school in the early 90s. everyone was like, 'oh msft is so evil. they suck.' and i just didn't understand. in reality msft put compute in front of everyone and created an insane amount of opportunity. this sounds like a 'get off my lawn' broad attitude and maybe a better approach is to be open to some of the innovation that is getting put down here.


But... Microsoft _was_ evil. Their business practices were abhorrent, they fought tooth and nail to kill open source, they were insanely anti-competitive. A big reason they "won" is that they made it impossible for OEMs to compete in the market unless they sold every machine with a Windows license.

I believe your analogy is correct, but not in the way you intended.


pretty good arguments from both sides here and lots to learn; although, Chamath has many valid points he is also really good at skirting around some of the questions. hubris on both ends.


spoken like a good engineer... i btw am that guy too and agree, yet i am not sure it is truth. i hope so.


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