Chapter
The Possibility of a Wealth Tax
01:41 - 16:55 (15:13)
The possibility of a wealth tax by Elizabeth Warren has raised questions about how assets would be priced and the necessity for a mechanism for bidding on said assets.
Clips
Economist Glenn Weil has written a technical book on the notion of radical markets which explores new market designs to solve complex problems.
01:41 - 04:31 (02:50)
Summary
Economist Glenn Weil has written a technical book on the notion of radical markets which explores new market designs to solve complex problems. In a recent podcast, Microsoft CTO Kevin Scott expressed his admiration for Weil’s work and his own sense of awe at the breadth of work that Microsoft is doing.
ChapterThe Possibility of a Wealth Tax
EpisodeKevin Scott: Microsoft CTO
PodcastLex Fridman Podcast
The idea of having a radical pricing mechanism for assets like real estate could be useful in the case of Elizabeth Warren's wealth tax proposal.
04:31 - 08:17 (03:45)
Summary
The idea of having a radical pricing mechanism for assets like real estate could be useful in the case of Elizabeth Warren's wealth tax proposal. This mechanism could prevent speculative bidding and rent-seeking behaviors while also allowing for higher economic utility.
ChapterThe Possibility of a Wealth Tax
EpisodeKevin Scott: Microsoft CTO
PodcastLex Fridman Podcast
The success of a platform is measured by the economic value it creates for the platform's builders compared to the value created for its owner or builder.
08:17 - 13:18 (05:01)
Summary
The success of a platform is measured by the economic value it creates for the platform's builders compared to the value created for its owner or builder. Platforms, like the steam engine or MEMS gyroscope, are a substitute for human labor and must provide an equitable distribution of value from an economic perspective.
ChapterThe Possibility of a Wealth Tax
EpisodeKevin Scott: Microsoft CTO
PodcastLex Fridman Podcast
Glenn and Jaron's Data Dignity team is trying to create a set of mechanisms that would allow people to earn part of their living through the data that they're creating by determining how the value is flowing through the combination of data that people explicitly and implicitly provide.
13:18 - 16:55 (03:36)
Summary
Glenn and Jaron's Data Dignity team is trying to create a set of mechanisms that would allow people to earn part of their living through the data that they're creating by determining how the value is flowing through the combination of data that people explicitly and implicitly provide.