Chamath Palihapitiya

You would multiply it by three and say, well, the total cost of living is 33,000.

That's the poverty line.

That's the poverty line.

And then what the government did was they created a whole bunch of staircase incentives to get people from about 33,000 to about 2x that number, to about 65,000.

And then what the government did was they created a whole bunch of staircase incentives to get people from about 33,000 to about 2x that number, to about 65,000.

And then after that, you were mostly on your own where there were no real benefits like SNAP or other things.

And then after that, you were mostly on your own where there were no real benefits like SNAP or other things.

But what this person was saying is like, hey, hold on a second, food costs are now 5% or 6%.

But what this person was saying is like, hey, hold on a second, food costs are now 5% or 6%.

And so if you gross it up for the other components, shouldn't the poverty line be something closer to 140K?

And so if you gross it up for the other components, shouldn't the poverty line be something closer to 140K?

And that's a shocking claim.

And that's a shocking claim.

And so I just spent a little bit of time looking into it.

And so I just spent a little bit of time looking into it.

Now, he has subsequently come back and refined some of the things he said.

Now, he has subsequently come back and refined some of the things he said.

I think he may have written it in a heated moment.

I think he may have written it in a heated moment.

So for example, when he looked at that number, he wasn't looking at national averages.