Gary Michaels

You're dedicated your career to helping the rich give their money away to social justice causes. But I want to start with the hard question a lot of listeners might be thinking. You are a successful white man. So what qualifies you to speak objectively on things like inequity and privilege? And give us your background.

You're dedicated your career to helping the rich give their money away to social justice causes. But I want to start with the hard question a lot of listeners might be thinking. You are a successful white man. So what qualifies you to speak objectively on things like inequity and privilege? And give us your background.

So you say that people at the top, often rich white men, too often are preserving their wealth over generations using what you call compounding unearned advantage. So what is compounding unearned advantage?

So you say that people at the top, often rich white men, too often are preserving their wealth over generations using what you call compounding unearned advantage. So what is compounding unearned advantage?

What exactly is the problem with someone wanting to preserve their wealth for future generations, especially within their own family?

What exactly is the problem with someone wanting to preserve their wealth for future generations, especially within their own family?

What would that look like for you if the United States invested in these people more than they are now? For you could say, we actually are a society that does do this.

What would that look like for you if the United States invested in these people more than they are now? For you could say, we actually are a society that does do this.

What would be some of those opportunities? What does that look like for the government to really give more?

What would be some of those opportunities? What does that look like for the government to really give more?

Got it. That's big. Let's talk a little bit about what you kind of explain as an interesting relationship between luck and power. Can you talk to that a little bit?

Got it. That's big. Let's talk a little bit about what you kind of explain as an interesting relationship between luck and power. Can you talk to that a little bit?

This is my definition. I'd like to hear what your thoughts are on it. Luck is where preparation meets opportunity. Do you think that just because a person maybe is at a lower economic level, a lower status level, they should still be able to be given privileges if they haven't put the work in, the preparation? Are they still entitled? Because that's not healthy for the society either.

This is my definition. I'd like to hear what your thoughts are on it. Luck is where preparation meets opportunity. Do you think that just because a person maybe is at a lower economic level, a lower status level, they should still be able to be given privileges if they haven't put the work in, the preparation? Are they still entitled? Because that's not healthy for the society either.

That makes sense. Now, surely the problem can't be exclusively limited to white men. There must be some examples of wealthy women using compounding unearned advantage or wealthy individuals of other races. What does the research show? Do you have any statistics that can illustrate the imbalance a little bit? Yeah.

That makes sense. Now, surely the problem can't be exclusively limited to white men. There must be some examples of wealthy women using compounding unearned advantage or wealthy individuals of other races. What does the research show? Do you have any statistics that can illustrate the imbalance a little bit? Yeah.

Now, we've talked a little bit about these two separate issues here, race and gender and inequity in it. Is one posing a larger challenge than the other? It's a really good question.

Now, we've talked a little bit about these two separate issues here, race and gender and inequity in it. Is one posing a larger challenge than the other? It's a really good question.

A lot of people nowadays like to say there's no such thing as a good billionaire. Is that really the case? And is that really the fault of the person themselves or the tax system or other systems that have been built around them?

A lot of people nowadays like to say there's no such thing as a good billionaire. Is that really the case? And is that really the fault of the person themselves or the tax system or other systems that have been built around them?