Daniel Priestley

Yeah. Well, they already do. 1% pay 30%.

Mind you, I'm also not necessarily saying what's fair. I'm saying what's practically possible, right? So, like, you could come up with the world's most fair on the back of a napkin. This is what's fair. But whether you can implement it is a very difficult thing. The problem is wealth is completely mobile now. It's really you can live and work from anywhere.

Mind you, I'm also not necessarily saying what's fair. I'm saying what's practically possible, right? So, like, you could come up with the world's most fair on the back of a napkin. This is what's fair. But whether you can implement it is a very difficult thing. The problem is wealth is completely mobile now. It's really you can live and work from anywhere.

Houses, Dan. It's land. Is that mobile? You can't rip the country out of the sea. I've never met any seriously wealthy people who own a lot of houses.

Houses, Dan. It's land. Is that mobile? You can't rip the country out of the sea. I've never met any seriously wealthy people who own a lot of houses.

Yeah, no, it is. Somebody owns it. 78% is owned by baby boomers. They've bought a house in 1992 and they own the house.

Yeah, no, it is. Somebody owns it. 78% is owned by baby boomers. They've bought a house in 1992 and they own the house.

Owned by pension funds. So the viewers own it, do they? If they own a pension fund, most of those commercial properties... And what is the distribution of pensions?

Owned by pension funds. So the viewers own it, do they? If they own a pension fund, most of those commercial properties... And what is the distribution of pensions?

I wouldn't know off the top of my head with pensions, but I know that obviously wealth concentrates at the top. But here's the one thing to keep in mind. Wealthy group are not necessarily a static group. There was a study of the richest people in 1900 and most of those families are poor today or they've gone down in value today.

I wouldn't know off the top of my head with pensions, but I know that obviously wealth concentrates at the top. But here's the one thing to keep in mind. Wealthy group are not necessarily a static group. There was a study of the richest people in 1900 and most of those families are poor today or they've gone down in value today.

If the richest people in 1900 had have just simply kept their wealth, there'd be 16,000 more billionaires. But they don't. You know, in wealth management, in banks, they have this thing called the succession planning. So succession planning is where they try and figure out how not to screw it up across generations, and they're notoriously bad at it. It's very hard to keep wealth in generations.

If the richest people in 1900 had have just simply kept their wealth, there'd be 16,000 more billionaires. But they don't. You know, in wealth management, in banks, they have this thing called the succession planning. So succession planning is where they try and figure out how not to screw it up across generations, and they're notoriously bad at it. It's very hard to keep wealth in generations.

Yeah, yeah, yeah. I'm with you. I want an affluent middle class. I really do.

Yeah, yeah, yeah. I'm with you. I want an affluent middle class. I really do.

You're going to create your own? Entrepreneurship. Okay, we'll create it. Economies that are friendly towards wealth creation and entrepreneurship.

You're going to create your own? Entrepreneurship. Okay, we'll create it. Economies that are friendly towards wealth creation and entrepreneurship.

It's not working for the people, Daniel. No, the problem is that they need to step back. They need to let shrink, let shrink, let shrink.

It's not working for the people, Daniel. No, the problem is that they need to step back. They need to let shrink, let shrink, let shrink.

No, I'm saying no.