Peter Thiel
speaker
1,088 appearances
12 recordings
11 series
first heard Jul 2024
last heard 15 Jun
Peter Thiel’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 4 in all, peaking in Jun 2026 with 2.
Appearances
And so – Well, people are forced with no choice. What are you going to do? It is – I mean there are people at the margins who leave, but the state government still collects more and more in revenue. So it's – you get – I don't know. You get 10 percent more revenues and 5 percent of the people leave. You still increase the amount of revenues you're getting.
It's inelastic enough that you're actually able to increase the revenues. I mean this is sort of the – The crazy thing about California is there's always sort of a right-wing or libertarian critique of California that it's such a ridiculous place. It should just collapse under its own ridiculousness. it doesn't quite happen. The macroeconomics on it are pretty good.
40 million people, the GDP is around 4 trillion. It's about the same as Germany with 80 million or Japan with 125 million. Japan has three times the population of California. Same GDP means one third the per capita GDP. So there's some level on which California as a whole is working, even though it doesn't work from a governance point of view, it doesn't work for a lot of the people who live there.
And the rough model I have for how to think of California is that it's kind of like Saudi Arabia. And you have a crazy religion, wokeism in California, Wahhabism in Saudi Arabia. You know, not that many people believe it, but it distorts everything. And then you have like oil fields in Saudi Arabia, and you have the big tech companies in California. And the oil pays for everything.
And then you have a completely bloated, inefficient government sector. And you have sort of all sorts of distortions in the real estate market where people also make lots of money. And sort of the government and real estate are ways you redistribute the oil wealth or the – the big tech money in California.
And it's not the way you might want to design a system from scratch, but it's pretty stable. People have been saying Saudi Arabia is ridiculous. It's going to collapse any year now. They've been saying that for 40 or 50 years. But if you have a giant oil field, you can pay for a lot of ridiculousness. I think that's the way you have to think of California.
Well, the other thing is you're also- There are things about it that are ridiculous, but there's something about it that, you know, it doesn't naturally self-destruct overnight.
I think it's something like four of the eight or nine companies with market capitalizations over a trillion dollars are based in California.
It's Google, Apple- Now NVIDIA, Meta. Yeah, I think Broadcom is close to that.
Well, there are things that work. So I looked at all the zero tax states in the US. And it's always, you don't, I think the way you asked the question gets at it, which is you don't live in a, in theory, a lot of stuff happens on a state level, but you don't live in a state, you live in a city. And so if you're somewhat biased towards living in at least a moderately sized city,
Okay, I think there are four states where there are no cities. Alaska, Wyoming, South Dakota, New Hampshire. There's zero tax, but no cities to speak of. And then you have Washington State with Seattle, where the weather is the worst in the country. You have Nevada with Las Vegas, which I'm not that big a fan of. And then that leaves three zero-tax states.
You have Texas, which I like as a state, but I'm not that big a fan of Austin, Dallas, or Houston. Houston is just sort of an oil town, which is good if you're in that business, but otherwise not. Dallas has sort of an inferiority complex to L.A. and New York. Yeah. Not not the healthiest attitude. And then, you know, I don't know.
Austin's a government town and a college town and a wannabe hipster San Francisco town. So, you know, my books are three strikes. You're you're kind of out, too. And then that leaves that leaves Nashville, Tennessee, which was and then or Miami, South Florida. And those would be my two top choices.
I think it's pretty segmented from the tourist strip from everything else. It probably is. There probably is something. A little bit paradoxical about any place that gets lots of tourists where, you know, it's it's it's in some sense of the case. There's some things that are great about because so many tourists go.
But then in some sense, it's it creates a weird aesthetic because the you know, the day to day vibe is that you don't you don't work and you're just having fun or something like that.
And that's probably a little bit off with the South Florida thing. But I think it's – and then I think Nashville is also sort of its own real place. Nashville is great. Yeah. So those would be my – those are the top two. I could live in Nashville. No problem. I'm probably always – I'm always too – Fifth grade onwards since, you know, 77, I lived in California.
And so I'm just a sucker for the weather. And I think there is no place besides coastal California where you have really good weather year-round in the U.S. Maybe Hawaii is pretty good.
Man, it's like, you know, it's mid-August here in Austin. Yeah. It's just brutal.
Sure. There's probably some very deep reason there's been a net migration of people to the west and the south and the U.S. over.
It's all sort of a package deal.
Showing 681–700 of 1,088 · page 35 of 55
← Previous
Next →