The Epstein Tax
“Nothing so undermines your financial judgement as the sight of your neighbor getting rich.” — J.P. Morgan
The Epstein Tax: If you want to climb into the upper echelons, follow a three-step strategy: Buy, borrow, die. While wages are taxed when they’re earned, assets are taxed when they’re sold... One idea: When the rich borrow and use their assets as collateral, they should pay tax on the difference in the value of that stock or property between when they originally bought it and the day it’s pledged. Treating borrowing as a taxable event could raise more than $100 billion over a decade... As the tax debate heats up, billionaires inevitably start to focus on spending more time with their family — as long as they live in a low-tax state. In 2023, Bezos announced he was moving to Miami after almost three decades in Seattle to be close to his parents. Now Mark Zuckerberg is in the process of buying a property in Florida, triggering speculation that he’s unhappy about the proposed new tax on California billionaires.
https://www.profgalloway.com/the-epstein-tax/
AI’s Performance as a Portfolio Manager: So on August 4th, 2025, Pratik ran an experiment. Five AI models — Grok, ChatGPT, Gemini, Perplexity, and Claude and one brief: build a 10-stock portfolio to beat the Nifty 500. Six months in, we have results. And they’re more interesting than either of us expected. Halfway through the 12-month experiment, Gemini and Perplexity are outperforming the Nifty 500. And here’s where this experiment gets genuinely fascinating: the stock picks were direct expressions of each model’s engineering philosophy.
https://www.dezerv.in/blog/can-ai-manage-your-money/
You are All Hyping AI for No Reason: My team regularly burns anywhere from 4K-8K a month across three people using the latest and greatest for an AI driven building workflow. That’s not even agents running 24x7 “making money while you sleep” which is utter and total nonsense. This is one of the most spectacularly unprofitable businesses in history so far. People talking about the end of all work because this stuff runs for “pennies” cannot do even the most basic math. New NVIDIA chips don’t even break even for data centers for like 24-36 months and they are basically obsolete by then. That doesn’t count power and cooling and people to run it all. Imagine if your car was basically worth zero after three years? I’m so sick of these idiotic Population Bomb level stories about the end of all work and running agents for pennies. It’s a mass delusion for people who can’t be bothered to bust out a calculator on their phone for five seconds.