The Great Billionaire Migration
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Today's number, $3.5 billion. That's the cost of the Blue Origin New Glenn rocket that blew up on the launch pad two days ago. Ed? Ed, what do you call a gay man on the moon? What do I call a gay man on the moon? I'm not sure. An astronaut, you fucking homophobe. LAUGHTER It's actually pretty good. Usually it's shocking and terrible, and that one is, yeah, it's good. Who wants a dirty joke? That's why we're here. Now he's going to ruin everything. I'm in Miami, a little stressed, so I decided to bring my boyfriend with me. And he's super into choking and asked me to choke him, so I reluctantly agreed. But I don't think he's into it. For the last seven hours, he's been still and giving me the silence treatment.
So Scott, Florida has long lured people in with its beaches, its sunshine, its nightclubs, and also its extremely low taxes. The state has no income tax, no estate tax, no capital gains tax, and as a result, it has increasingly become the new home for America's wealthiest. In the past two decades, the number of billionaires living in the Sunshine State has grown 20-fold. And with the California wealth tax proposal looming over Silicon Valley, many more tech magnates are moving in, from Sergey Brin to Larry Page to Mark Zuckerberg, who just bought a house nearby. So with Florida's newfound reputation as the billionaire bunker, that's what some people are calling it, the question for Floridians is, is this a good thing for the economy?
Is it a good thing for the state? Or is it a bad thing? What do you think, Scott? So I think a lot about brand. I teach a brand strategy course for the last 25 years. And I think about what are some of the best brand moves, some of the worst brand moves. By the way, the worst brand move of the last 72 hours is having tech literally fuck up one of the best brands in the world, Ferrari. That is just the stupidest tech product since the Cybertruck. But some other great, an amazing brand move last year. I think the American Pope is gonna be great for the American brand. I think cutting USAID is probably the worst brand move for the United States in a long time. Believing that this state is low tax is one of the most elegant brand moves.
And there was a lot of applause, but let me just be clear. It's total fucking bullshit that you're a low tax state. What you are is you have figured out a way to elegantly brand a transfer of wealth from young people who earn their money through work to old people like me who make money through selling and buying stocks. So you may think this is a low-tax state.
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