[pjschlic]

One thing I haven't seen in the discussion is the effect of the tax on the distribution of outcomes.

I'm not sure what the latest numbers are, but if 90% of startups are near 0 return for founders, and 1% are the home run swings which made it worth starting the company to begin with - then when do proposals affect the expected value for starting a company. This notebook doesn't show anything other than 'if you were going to make a bunch, you'll still have more than zero' which isn't useful.

Startups are in the land of "fat tails" - so talking about a policy saying it's fine for for most people since the people at the extreme in the fat tail are doing fine seems to be thinking under-critically.