Real estate(the land, not the mansion) is a really good long term storage of wealth as it is fixed, finite, and doesn't depreciate in value except through market trend and it basically only go up as long as the economy itself grow.
However, this causes land speculation which drives the price of land up, and people do not want to develop properties because it would means investing in buildings which costs money to build and maintain and entails risk and ongoing effort.
The correct solution to this is a land value tax, which if implemented correctly, should drive down the price of land down to zero and force Jack Ma's family to either commit to actually investing in UK's economy or park their wealth elsewhere.
There's too much overlooked survivor bias with "I wish I owned real estate..." retrospectives. What people are really saying is that they wish they had speculated, but that's no different than "I wish I owned [NVDA]..."
Take homes values. On a real$ basis, "home prices show a strong tendency to return to their 1890 level[s]" [0].
1. People just move if things get expensive. Urban land area is only 2.6% of total US.
2. Tech improvements unlock cheaper and more durable homes.
What Jack Ma's doing is a completely different level of personal estate management and a flight to safety.
>Real estate(the land, not the mansion) is a really good long term storage of wealth as it is fixed, finite, and doesn't depreciate in value except through market trend and it basically only go up as long as the economy itself grow.
None of this is true.
Step by step:
>as it is fixed
Something not being able to be moved is a negative, not a positive
>finite
New land is created all the time. The netherlands has created an entire new province.
> and doesn't depreciate in value
Only true legally. I can assure you land does depreciate, as can any farmer that has used it to farm the same crop for years and now finds its yields reduced as a result.
>except through market trend
So, just like any other asset?
> it basically only go up as long as the economy itself grow.
Untrue, simply check any number of rural areas that have had the life drained out of them over the past 50 years.
Land is useful, but let's not pretend like it's something it isn't.
Land not depreciating is true, because unlike capital, it doesn't suffer entropy for all intent and purpose. Compare that to a car, which is forever basically a depreciating asset.
Also, Netherland did not create land, because ocean is a type of land. They merely improve the land to the point that it can be used by people walking around, but that also preclude the ocean to be used by other means such as aquaculture and building coral reefs which can be used to provide ecosystem services and sustenance to humans.
New startup idea: landhacking. We disrupt the earth's surface itself by simply building land under or above the existing land. The new land will be fully non-fungible, powered by blockchain and AI. We're so sure this will work, we're taking pre-orders for parcels of hacked land already!
Speculation is a legitimate market activity. People make predictions about what will be valuable in the future and marshall those resources toward the most valuable future use. If speculators are wrong, they lose money. There's no free lunch here like you make it sound.
>The correct solution to this is a land value tax, which if implemented correctly, should drive down the price of land down to zero
We have prices to help decide what is the most valuable use of a resource. Trying to implement a bunch of policy to cancel out price signals will lead to all kinds of dysfunctional situations.
Fixed percentage property tax based on market data and legitimate appraisals is the right kind of tax on land (or as correct as it gets; the ideal is that people pay for what public services they use and no more).
>force Jack Ma's family to either commit to actually investing in UK's economy or park their wealth elsewhere.
They are investing in the UK economy by owning land there. A mansion requires maintenance and property tax payments. The UK is not entitled to tell people how they must spend the fruits of their labor. If you'd rather the mansion not go to a foreign rich person, you could ban foreign purchases of mansions. But this would no doubt hurt the people who build and maintain them. Furthermore, Jack Ma probably has limits placed on him by his country. He may only be free to buy a mansion. He will no doubt use it... Leaving a country takes time.
If you want to be mad about land prices, be mad at the infinite deficits and credit bubbles being inflated in the West.
A land value tax (LVT) is a tax on the unimproved value of land only, while a traditional property tax is levied on the combined value of both the land and any structures or improvements on it
. Consequently, LVT taxes the land's community-created value, which is not the result of the owner's labor, and does not tax improvements like a house. This encourages development because it disincentivizes property owners from letting vacant land sit idle and penalizes land speculation.
Our local government taxes are entirely LVT and yet our housing prices still spiral upwards.
I'm not sure how to work this to everyday people's benefit - are the taxes to be so large punative that half of everyday home owners need to sell up? (I mean, the tax will only depress value if sales are avoided, or existing owners choose to sell, right?)
I'm probably in the "increase supply until no one else wants one" camp...
You got it. The LVT doesn’t work unless it’s so high it can force Grandma out of the house she grew up in, the one she thought was built on “her” land in Alameda.
It has to act like a market rent paid to the government, or it can’t induce the behavior changes it’s supposed to.
Hard to believe Americans, at least, would accept that shift in property rights.
The taxes must be high enough if you want to drive the price of land down to zero. Lands worth million of dollars represented economic rent untaxed by the government.
That leaves you with other factors in the consideration of purchasing real estate such as the price of the building itself, as opposed to the land.
> are the taxes to be so large punative that half of everyday home owners need to sell up?
Yes, either you are rich enough to occupy land in an expensive area for a suboptimal use (usually means central to transportation and population), or you have to give it up to someone who can make use of it.
Note that homeowners who live further away from stuff are not impacted. It’s for underutilized lots that are being squatted on due to someone laying claim to it first decades ago, but that is not an efficient way to allocate resources in a society.
Hence, why China can develop rapidly to benefit 80% of its population, while other developed countries are stuck catering to 20% of its population who got theirs first (or really, their ancestors did).
By “laying claim” you mean “holding a legally recognized title to the real estate”?
That’s a property rights regime that applies to everyone. If you want to get rid of it you have to get rid of it for everyone, you can’t say “titles are no longer valid if the land they cover is valuable enough, but otherwise, out in the boonies, still good”.
If nothing else, that’s a Constitutional takings problem.
The constitution already allows for it, via what happens when you don’t pay property tax.
And property rights are very much a political negotiation (just before things get violent). The government takes a piece of everyone’s income with no problem.
And land owners use the most resources of everyone. All the military spend to protect their asset, all the education, police, and judicial expenses to keep an orderly society, all the energy to move resources around the land.
Right now, we take more, proportionally, from income earners (workers) who live in tiny apartments compared to rent seekers who squat on underutilized lots that use up a lot more of society’s resources.
Income taxes are transfer taxes: The government takes a cut of money moving from a labor buyer to a labor seller. Not unlike excise taxes or tariffs, though we needed a Constitutional amendment for Congress to do it.
Property taxes are property taxes. They’re premised on the notion that there’s a private owner of the property to be taxed, and those taxes fund services and protections via the elected government of the property holder.
If LVT requires rent-equivalent rates to work, you can call it a really high property tax, but that’s just linguistic games: The government is charging rent on property it now effectively owns.
What part of that do you disagree with? I took your comments to imply yes, in fact, under LVT the government effectively owns the land and charges rent on it, as it was in feudal times and perhaps should have continued to be so?
So like, LVT encourages land owners to build increasingly denser and pricier improvements? Sounds opposite of the goal.
Isn't land values proportionate to population density? Whatever tax systems that intend to combat rising land values should force density on down trend, no?
Denser areas are cheaper per housing unit. Building an apartment building might cost 10x as much as building a house, but it can probably house more than 20x the households.
LVT in an urban/suburban area incentivizes building more housing units per surface area. And a power law formula LVT would especially align incentives, as land that is worth more has even more incentive to be developed.
I don’t get why people ask questions like this nowadays when the Wikipedia article or an LLM will give you a much better answer than what someone could type in a reply.
The treatment of Ma compared to his equivalent in the US (probably Bezos or Musk?) might be one of the neatest illustrations of genuine ideological difference between the two countries.
Your comment is just another illustration that many people have so little experience with an actual dictatorship to not realize the difference. The US isn't perfect but that's a start contrast to an actual dictatorship. For now at least.
I’ll say the same is true for those that hold your point of view.
When the public or a segment are signaling concern about a dictatorship, it’s an alarm and signal that they see signs.
What is misunderstood: Once the dictator secures power, it’s far too late. The critics are long silenced, and all of the checks and balances have been hollowed out and made powerless.
They boy who cried wolf. We are a dictatorship and we are headed towards a dictatorship are not the same thing.
Saying the former when the reality is the latter means your message will simply becomes ever more ignored the closer to a dictatorship we get and thus makes a dictatorship more likely.
> I’ll say the same is true for those that hold your point of view.
I aways find it so interesting that having a view that aims to be based on reality and not overly exaggerated fear mongering is seen as so negatively by both sides. I can't see that ending well for the US to be honest. Fear mongering is how you get dictators, left or right, and not how you get a stable democracy.
I find it fascinating that saying "we're not yet an actual dictatorship" is seen as complacency.
> Of course, my family escaped a dictatorship and made our home in the US. So we have a better sense of these things.
Fascinating what people assume about others and then use that to discount the views of others if those views disagree with them.
Clearly you've got a lot of trauma but panic and excess anxiety are not healthy responses to that as they make your decisions irrationally biased. That's how you get lots of immigrants who escaped communist dictatorships voting for a right wing dictatorships in the US. Their trauma biases their world view so much that they panic and then cause an equally bad outcome.
In a dictatorship this happens indeed. And there's nothing you can do about it.
In the US people fight back. There are courts, NGOs, law firms, journalists, people can protest, can petition their representatives, etc, etc. It is unfortunate that someone is trying to become dictator, but the point of this country is that it doesn't become a dictatorship just because one person wants that.
> people fight back. There are courts, NGOs, law firms, journalists, people can protest, can petition their representatives, etc, etc.
It's actually pretty normal for modern dictatorships to have all that too. During eras where common people and peer nations appreciate democracy and liberalism, the typical way of operating a dictatorship is to allow for nominal expression of all those things but to structure in limits on its efficacy. They happen, they're just made sure never exceed the regime's capacity to rein them in, and sometimes are even instigated by the regime as an alternative means of influence.
> it doesn't become a dictatorship just because one person wants that
Sure. And it also doesn't only become a dictatorship when those things are no longer visible. If you only see dictatorship as some abstract platonic ideal of complete repression of dissent, instead of as a concentration of power effectively beyond the reach of the demos and its guardian institutions, you'll miss most of its occurrences in the real world.
Not like Germans didn't fight the nazis. Their road to power was littered with the corpses of liberty and actual people.
But its not so much trump I'm concerned about, its the people using him (though he is using them in some kind symbiotic relationship), and that is project 2025, federalist society, christo fascist tech billionaires like Thiel, or even the CEO of ycombinator, that supports them, etc. There's a chance it could end with trump, they know that, so they're working on making sure it doesn't.
I understand. And I hope you are doing your part to fight what you perceive to be the bad guys. Because, you realize that if you do nothing, and everyone does the same as you, then we all deserve our ultimate fate, one of subjugation and dictatorship.
Fortunately, here in the US, one can still do stuff, and that action can actually move the needle. In China, you can do nothing. If you don't like what Xi is doing, tough luck.
My point is: it is very fashionable here on HN to complain about how the US is bad, or a tyranny, or unjust, or whatever. But out of all the countries in the world, the US still has the highest aversion to dictatorship and tyranny. People do fight. Look at Harvard. Columbia didn't fight, but Harvard did. Some people fold, but some fight.
The founding idea of the US is that people are imperfect. Some will always try to grab power. That's human nature. The solution is to have multiple checks and balances. They will not create a perfect society, but they'll reduce the likelihood of one group of people to take over, as it happened with the Nazis in the inter-war period in Germany. Just checks and balances are not enough, it's also the democratic tradition. It's the people willing to take a stand. And fortunately, such people still exist.
"In 2018, 51,302 new startups were founded. Last year, that number was down to 1,202."
That's the cost of authoritarian centralization. But it would also be dishonest not to concede the other side of the ledger. A government that eliminates all challenges to its authority also doesn’t depend on coalitions or election cycles, so doesn’t need to bargain with public-sector unions, entrenched lobbies, or party factions to stay in power. That concentration of authority can give Beijing a longer planning horizon than governments that live inside a permanent 18-month election cycle.
That’s the structural trade-off:
fewer constraints and more long-term maneuvering room, at the price of suppressing bottom-up initiative, i.e. entrepreneurship.
This is not a value judgment: it’s just the logic of political institutions. Centralized regimes can move quickly, avoid gridlock, and pursue 20- or 30-year industrial policy. But the same mechanisms that let them think long-term also deter the kind of decentralized experimentation that produces new firms and new ideas.
Surprising they took so long. Most wealthy Chinese exfiltrate their children and as much of their capital as they can get away with from the clutches of the CCP. That's why there are so many Chinese twentysomethings driving Ferraris in Vancouver, and changing them every 6 months. Also why China has put tight controls on buying real estate abroad and banned bitcoin
Something that's common for wealthy Chinese that live in the USA is to get a USA green card but not citizenship because china does not allow dual citizenship. The ceo of a company my wife worked for does this - although that didn't stop him from being arrested (basically just disappeared) by the Chinese government for about a year a bit after the same happened with Ma.
I don't remember the timeline exactly - it was years ago. But he just disappeared for awhile as in no one knew where he was or could find him. Then a few weeks later the board was informed he was under arrest and then a few weeks after that he was still under arrest but at home arrest. Then around a year after this started he was allowed to leave china and it's like it never happened in the first place. No one acknowledged what happened and no one would ask what he had to give up in order to be freed and he still travels regularly between china and the USA.
Real estate(the land, not the mansion) is a really good long term storage of wealth as it is fixed, finite, and doesn't depreciate in value except through market trend and it basically only go up as long as the economy itself grow.
However, this causes land speculation which drives the price of land up, and people do not want to develop properties because it would means investing in buildings which costs money to build and maintain and entails risk and ongoing effort.
The correct solution to this is a land value tax, which if implemented correctly, should drive down the price of land down to zero and force Jack Ma's family to either commit to actually investing in UK's economy or park their wealth elsewhere.
Real estate includes land and structures.
There's too much overlooked survivor bias with "I wish I owned real estate..." retrospectives. What people are really saying is that they wish they had speculated, but that's no different than "I wish I owned [NVDA]..."
Take homes values. On a real$ basis, "home prices show a strong tendency to return to their 1890 level[s]" [0].
1. People just move if things get expensive. Urban land area is only 2.6% of total US.
2. Tech improvements unlock cheaper and more durable homes.
What Jack Ma's doing is a completely different level of personal estate management and a flight to safety.
[0] https://en.wikipedia.org/wiki/Case%E2%80%93Shiller_index#Eco...
>Real estate(the land, not the mansion) is a really good long term storage of wealth as it is fixed, finite, and doesn't depreciate in value except through market trend and it basically only go up as long as the economy itself grow.
None of this is true.
Step by step:
>as it is fixed
Something not being able to be moved is a negative, not a positive
>finite
New land is created all the time. The netherlands has created an entire new province.
> and doesn't depreciate in value
Only true legally. I can assure you land does depreciate, as can any farmer that has used it to farm the same crop for years and now finds its yields reduced as a result.
>except through market trend
So, just like any other asset?
> it basically only go up as long as the economy itself grow.
Untrue, simply check any number of rural areas that have had the life drained out of them over the past 50 years.
Land is useful, but let's not pretend like it's something it isn't.
> New land is created all the time. The netherlands has created an entire new province.
You're 'technically correct' but the total amount of land being created is so small as to be meaningless in a global sense.
Your arguments are fixated on extreme corner cases. I'm not sure what you are arguing for.
Theyre an edge case warrior, best to ignore them lest you want to spend an age addressing every niche circumstance.
Til: Edge case warrior
I think i invented the phrase for that comment, pretty sure i havent seen it elsewhere
Land not depreciating is true, because unlike capital, it doesn't suffer entropy for all intent and purpose. Compare that to a car, which is forever basically a depreciating asset.
Also, Netherland did not create land, because ocean is a type of land. They merely improve the land to the point that it can be used by people walking around, but that also preclude the ocean to be used by other means such as aquaculture and building coral reefs which can be used to provide ecosystem services and sustenance to humans.
New startup idea: landhacking. We disrupt the earth's surface itself by simply building land under or above the existing land. The new land will be fully non-fungible, powered by blockchain and AI. We're so sure this will work, we're taking pre-orders for parcels of hacked land already!
> They merely improve the land
They terraformed it :)
Speculation is a legitimate market activity. People make predictions about what will be valuable in the future and marshall those resources toward the most valuable future use. If speculators are wrong, they lose money. There's no free lunch here like you make it sound.
>The correct solution to this is a land value tax, which if implemented correctly, should drive down the price of land down to zero
We have prices to help decide what is the most valuable use of a resource. Trying to implement a bunch of policy to cancel out price signals will lead to all kinds of dysfunctional situations.
Fixed percentage property tax based on market data and legitimate appraisals is the right kind of tax on land (or as correct as it gets; the ideal is that people pay for what public services they use and no more).
>force Jack Ma's family to either commit to actually investing in UK's economy or park their wealth elsewhere.
They are investing in the UK economy by owning land there. A mansion requires maintenance and property tax payments. The UK is not entitled to tell people how they must spend the fruits of their labor. If you'd rather the mansion not go to a foreign rich person, you could ban foreign purchases of mansions. But this would no doubt hurt the people who build and maintain them. Furthermore, Jack Ma probably has limits placed on him by his country. He may only be free to buy a mansion. He will no doubt use it... Leaving a country takes time.
If you want to be mad about land prices, be mad at the infinite deficits and credit bubbles being inflated in the West.
What's the difference between land value tax and property tax?
A land value tax (LVT) is a tax on the unimproved value of land only, while a traditional property tax is levied on the combined value of both the land and any structures or improvements on it . Consequently, LVT taxes the land's community-created value, which is not the result of the owner's labor, and does not tax improvements like a house. This encourages development because it disincentivizes property owners from letting vacant land sit idle and penalizes land speculation.
Our local government taxes are entirely LVT and yet our housing prices still spiral upwards.
I'm not sure how to work this to everyday people's benefit - are the taxes to be so large punative that half of everyday home owners need to sell up? (I mean, the tax will only depress value if sales are avoided, or existing owners choose to sell, right?)
I'm probably in the "increase supply until no one else wants one" camp...
You got it. The LVT doesn’t work unless it’s so high it can force Grandma out of the house she grew up in, the one she thought was built on “her” land in Alameda.
It has to act like a market rent paid to the government, or it can’t induce the behavior changes it’s supposed to.
Hard to believe Americans, at least, would accept that shift in property rights.
The taxes must be high enough if you want to drive the price of land down to zero. Lands worth million of dollars represented economic rent untaxed by the government.
That leaves you with other factors in the consideration of purchasing real estate such as the price of the building itself, as opposed to the land.
> are the taxes to be so large punative that half of everyday home owners need to sell up?
Yes, either you are rich enough to occupy land in an expensive area for a suboptimal use (usually means central to transportation and population), or you have to give it up to someone who can make use of it.
Note that homeowners who live further away from stuff are not impacted. It’s for underutilized lots that are being squatted on due to someone laying claim to it first decades ago, but that is not an efficient way to allocate resources in a society.
Hence, why China can develop rapidly to benefit 80% of its population, while other developed countries are stuck catering to 20% of its population who got theirs first (or really, their ancestors did).
By “laying claim” you mean “holding a legally recognized title to the real estate”?
That’s a property rights regime that applies to everyone. If you want to get rid of it you have to get rid of it for everyone, you can’t say “titles are no longer valid if the land they cover is valuable enough, but otherwise, out in the boonies, still good”.
If nothing else, that’s a Constitutional takings problem.
The constitution already allows for it, via what happens when you don’t pay property tax.
And property rights are very much a political negotiation (just before things get violent). The government takes a piece of everyone’s income with no problem.
And land owners use the most resources of everyone. All the military spend to protect their asset, all the education, police, and judicial expenses to keep an orderly society, all the energy to move resources around the land.
Right now, we take more, proportionally, from income earners (workers) who live in tiny apartments compared to rent seekers who squat on underutilized lots that use up a lot more of society’s resources.
Sorry, I don’t understand your position.
Income taxes are transfer taxes: The government takes a cut of money moving from a labor buyer to a labor seller. Not unlike excise taxes or tariffs, though we needed a Constitutional amendment for Congress to do it.
Property taxes are property taxes. They’re premised on the notion that there’s a private owner of the property to be taxed, and those taxes fund services and protections via the elected government of the property holder.
If LVT requires rent-equivalent rates to work, you can call it a really high property tax, but that’s just linguistic games: The government is charging rent on property it now effectively owns.
What part of that do you disagree with? I took your comments to imply yes, in fact, under LVT the government effectively owns the land and charges rent on it, as it was in feudal times and perhaps should have continued to be so?
(Also, re: property taxes and takings, check out Tyler v. Hennepin. 9-0. https://www.oyez.org/cases/2022/22-166)
So like, LVT encourages land owners to build increasingly denser and pricier improvements? Sounds opposite of the goal.
Isn't land values proportionate to population density? Whatever tax systems that intend to combat rising land values should force density on down trend, no?
Denser areas are cheaper per housing unit. Building an apartment building might cost 10x as much as building a house, but it can probably house more than 20x the households.
LVT in an urban/suburban area incentivizes building more housing units per surface area. And a power law formula LVT would especially align incentives, as land that is worth more has even more incentive to be developed.
I don’t get why people ask questions like this nowadays when the Wikipedia article or an LLM will give you a much better answer than what someone could type in a reply.
https://en.wikipedia.org/wiki/Land_value_tax
also take a look at https://en.wikipedia.org/wiki/Georgism
Sometimes it's nice to interact with other humans, even if it's online. But an LLM could have told you this.
Henry George enters the chat
The treatment of Ma compared to his equivalent in the US (probably Bezos or Musk?) might be one of the neatest illustrations of genuine ideological difference between the two countries.
Yes, China is an actual dictatorship and the US isn't.
The US isn’t but not for a lack of trying.
Your point being?
That your offhand remark is meaningless.
President press secretary just said that whatever order the president gives is always legal.
Your comment is just another illustration that many people have so little experience with an actual dictatorship to not realize the difference. The US isn't perfect but that's a start contrast to an actual dictatorship. For now at least.
I’ll say the same is true for those that hold your point of view.
When the public or a segment are signaling concern about a dictatorship, it’s an alarm and signal that they see signs.
What is misunderstood: Once the dictator secures power, it’s far too late. The critics are long silenced, and all of the checks and balances have been hollowed out and made powerless.
They boy who cried wolf. We are a dictatorship and we are headed towards a dictatorship are not the same thing.
Saying the former when the reality is the latter means your message will simply becomes ever more ignored the closer to a dictatorship we get and thus makes a dictatorship more likely.
> I’ll say the same is true for those that hold your point of view.
I aways find it so interesting that having a view that aims to be based on reality and not overly exaggerated fear mongering is seen as so negatively by both sides. I can't see that ending well for the US to be honest. Fear mongering is how you get dictators, left or right, and not how you get a stable democracy.
Likewise, I find active complacency to be fascinating in a democratic institution.
To paraphrase Ben Franklin: We have a republic, if we can keep it.
Being vigilant and on guard is a feature of the US and demanded of its citizens.
Of course, my family escaped a dictatorship and made our home in the US. So we have a better sense of these things.
The methods like ignoring the rule of law to grab people off the streets is a huge red flag.
I find it fascinating that saying "we're not yet an actual dictatorship" is seen as complacency.
> Of course, my family escaped a dictatorship and made our home in the US. So we have a better sense of these things.
Fascinating what people assume about others and then use that to discount the views of others if those views disagree with them.
Clearly you've got a lot of trauma but panic and excess anxiety are not healthy responses to that as they make your decisions irrationally biased. That's how you get lots of immigrants who escaped communist dictatorships voting for a right wing dictatorships in the US. Their trauma biases their world view so much that they panic and then cause an equally bad outcome.
You’re shifting goalposts and constantly inserting “outs” in your wording, which are all indications of bad faith.
Also, strawman. We’re pretty much done here.
Its usually a dictatorship when orders cannot break the law. Or when they start kidnapping people and putting them in camps.
In a dictatorship this happens indeed. And there's nothing you can do about it.
In the US people fight back. There are courts, NGOs, law firms, journalists, people can protest, can petition their representatives, etc, etc. It is unfortunate that someone is trying to become dictator, but the point of this country is that it doesn't become a dictatorship just because one person wants that.
> people fight back. There are courts, NGOs, law firms, journalists, people can protest, can petition their representatives, etc, etc.
It's actually pretty normal for modern dictatorships to have all that too. During eras where common people and peer nations appreciate democracy and liberalism, the typical way of operating a dictatorship is to allow for nominal expression of all those things but to structure in limits on its efficacy. They happen, they're just made sure never exceed the regime's capacity to rein them in, and sometimes are even instigated by the regime as an alternative means of influence.
> it doesn't become a dictatorship just because one person wants that
Sure. And it also doesn't only become a dictatorship when those things are no longer visible. If you only see dictatorship as some abstract platonic ideal of complete repression of dissent, instead of as a concentration of power effectively beyond the reach of the demos and its guardian institutions, you'll miss most of its occurrences in the real world.
Not like Germans didn't fight the nazis. Their road to power was littered with the corpses of liberty and actual people.
But its not so much trump I'm concerned about, its the people using him (though he is using them in some kind symbiotic relationship), and that is project 2025, federalist society, christo fascist tech billionaires like Thiel, or even the CEO of ycombinator, that supports them, etc. There's a chance it could end with trump, they know that, so they're working on making sure it doesn't.
I understand. And I hope you are doing your part to fight what you perceive to be the bad guys. Because, you realize that if you do nothing, and everyone does the same as you, then we all deserve our ultimate fate, one of subjugation and dictatorship.
Fortunately, here in the US, one can still do stuff, and that action can actually move the needle. In China, you can do nothing. If you don't like what Xi is doing, tough luck.
My point is: it is very fashionable here on HN to complain about how the US is bad, or a tyranny, or unjust, or whatever. But out of all the countries in the world, the US still has the highest aversion to dictatorship and tyranny. People do fight. Look at Harvard. Columbia didn't fight, but Harvard did. Some people fold, but some fight.
The founding idea of the US is that people are imperfect. Some will always try to grab power. That's human nature. The solution is to have multiple checks and balances. They will not create a perfect society, but they'll reduce the likelihood of one group of people to take over, as it happened with the Nazis in the inter-war period in Germany. Just checks and balances are not enough, it's also the democratic tradition. It's the people willing to take a stand. And fortunately, such people still exist.
Yes. This exactly.
Massive drop in entrepreneurship after the strong-arming of Ma:
https://x.com/EleanorOlcott/status/1834109085450731530?s=20
"In 2018, 51,302 new startups were founded. Last year, that number was down to 1,202."
That's the cost of authoritarian centralization. But it would also be dishonest not to concede the other side of the ledger. A government that eliminates all challenges to its authority also doesn’t depend on coalitions or election cycles, so doesn’t need to bargain with public-sector unions, entrenched lobbies, or party factions to stay in power. That concentration of authority can give Beijing a longer planning horizon than governments that live inside a permanent 18-month election cycle.
That’s the structural trade-off: fewer constraints and more long-term maneuvering room, at the price of suppressing bottom-up initiative, i.e. entrepreneurship.
This is not a value judgment: it’s just the logic of political institutions. Centralized regimes can move quickly, avoid gridlock, and pursue 20- or 30-year industrial policy. But the same mechanisms that let them think long-term also deter the kind of decentralized experimentation that produces new firms and new ideas.
>"In 2018, 51,302 new startups were founded. Last year, that number was down to 1,202."
I dont think it has anything to do with Ma, but the complete collapse of Chinese VC after COVID along with property market bubble burst.
[dead]
Surprising they took so long. Most wealthy Chinese exfiltrate their children and as much of their capital as they can get away with from the clutches of the CCP. That's why there are so many Chinese twentysomethings driving Ferraris in Vancouver, and changing them every 6 months. Also why China has put tight controls on buying real estate abroad and banned bitcoin
Something that's common for wealthy Chinese that live in the USA is to get a USA green card but not citizenship because china does not allow dual citizenship. The ceo of a company my wife worked for does this - although that didn't stop him from being arrested (basically just disappeared) by the Chinese government for about a year a bit after the same happened with Ma.
He reappeared? Ask where he was?
I don't remember the timeline exactly - it was years ago. But he just disappeared for awhile as in no one knew where he was or could find him. Then a few weeks later the board was informed he was under arrest and then a few weeks after that he was still under arrest but at home arrest. Then around a year after this started he was allowed to leave china and it's like it never happened in the first place. No one acknowledged what happened and no one would ask what he had to give up in order to be freed and he still travels regularly between china and the USA.
"The sale was rushed through ahead of a rise in the UK’s stamp duty surcharge for overseas buyers"..
really? A billionaire can't afford UK's stamp duty??