Techdirt Podcast Episode 110: Luck In Silicon Valley, With Robert Frank

from the chance-encounters dept

Tue, Feb 21st 2017 1:15pm — Leigh Beadon

Innovation isn't easy, but success in Silicon Valley involves a bigger dose of luck than a lot of entrepreneurs seem prepared to admit. Chance gets left out of the economic equation all too often, and this week we're joined by Mike's own Econ 101 professor from Cornell, Robert Frank, to discuss the role of luck in the world of entrepreneurs and innovation.

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Filed Under: innovation, luck, robert frank, silicon valley

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mermaldad (profile), 23 Feb 2017 @ 6:57am

Consumption-Based Tax Options
In this episode, one of the topics covered was the benefits of a consumption-based tax system vs. our current income-based system. Dr. Frank proposed a tax code where consumption is measured by subtracting savings from income. I have heard other proposals for a VAT, which in theory does the same thing. In practice, however, I suspect that the subtraction approach would do more to promote saving since the cost of the tax on an annual basis would be more apparent every tax day, compared to the VAT in which the tax cost in spead through the year. I also imagine the tax avoidance strategies (legal and not-so-legal) would differ between the two. IANAE, so all of this is a layman's speculation.

This is not as tech-focused as most of Techdirt, but it might make a good future episode of the podcast.
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Anonymous Coward, 25 Feb 2017 @ 3:52pm

Robert Frank is your basic big government liberal
who believes that the government can always do better things with your money than you can.

Unfortunately, the evidence doesn't back this up. In fact, the government is a pretty poor steward for your money, and consistently wastes it on any number of hair-brained schemes.

A great example which embarrasses big government advocates is Elon Musk, who has gotten far more bang for his buck in SpaceX than NASA has with your bucks. Yes, NASA is a playground for all kinds of micro-managing interference by politicians, but that's the point, isn't it?
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