Chamath Palihapitiya

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

He was looking at a bunch of data from a high cost suburb of New York City.

He was looking at a bunch of data from a high cost suburb of New York City.

I think it was like Essex County.

I think it was like Essex County.

And so if you look at the food costs, plus transportation, plus energy, plus housing, plus childcare, in other places that are more

And so if you look at the food costs, plus transportation, plus energy, plus housing, plus childcare, in other places that are more

A median American city, the example that I think other people were using was Lynchburg, Virginia, just as an example.

A median American city, the example that I think other people were using was Lynchburg, Virginia, just as an example.

It does change pretty drastically.

It does change pretty drastically.

You can use this thing called the MIT Living Wage Calculator, which we did.

You can use this thing called the MIT Living Wage Calculator, which we did.

And if you are in Lynchburg, Virginia, the income required for a family of four to meet all expenses there is not 140K, but it's about 93K.

And if you are in Lynchburg, Virginia, the income required for a family of four to meet all expenses there is not 140K, but it's about 93K.

That's still quite a big difference.

That's still quite a big difference.

And when you double click into where these variances come, a lot of it looks like it's around housing and childcare.

And when you double click into where these variances come, a lot of it looks like it's around housing and childcare.

And I didn't appreciate how much and how expensive childcare has actually become from anywhere between $1,000 to $3,000 per month, which is obviously a lot of money.