jtzhou

Problem with Ackman is he thinks he's doing God's work by shorting Herbalife, but in reality if he wanted to "do good" himself he would have gone to law school and taken up the cases themselves (pro bono likely), or pay lawyers to take it on. Maybe the exploited customers would have even won a larger class action. Even though he showed a human side, Ackman failed at doing what he's supposed to do which is invest other people's money.

Ah understood. You were looking at the national level with countries like China and Russia "party[ing] hearty" by not significantly curbing C02 emissions. Those individuals who benefit directly from oil and coal (as they do in the US) will extract gains and use it to pad offshore bank accounts. Meanwhile the rest of us should take a prudent life and be prepared for shocks ahead (like land and cost of living soaring in climate-friendly cities). On a more personal level, ideally savers find ways to extract more late-life enjoyment out of their deferred-enjoyment lifestyles.

And providing education for and/or adopting other children so that they learn how to live responsibly.

Or live wisely so you have the financial means and health to move you and your family elsewhere when need arrives, probably in our lifetimes for 80% of the world.

I think there are just a lot of intangibles so it's hard to compare mega projects, like the existing state of the subway where it is integrating into (like extensions), how many stations are being added, cost of labor, etc. I think comparing dozens of similar projects like the cost of replacing one street light, overpass or kilometer of highway from a non-US project, or even better within a single city in the same country, would be more informative.

Exactly. The comparison to non-US based projects is inadequate. California and other US states need to "earn the right" to spend this much money on one single monstrous project by proving it can handle smaller projects with 100% cost accuracy. BART extensions, LA Metro Rail and projects in the smaller cities should have near 1-to-1 precision in planning cost to implementation, before going after the big kahuna. Jerry Brown wanted to galvanize the population but instead it has bred cynicism state and nation-wide. Oh, and it will cost over $100 billion in taxpayer dollars before it's completed.

Ditto, was in Berlin recently and was very impressed by the taxi service. The taxi driver slowed down and asked us if we needed a ride, was patient when we got out our address on our phones for the AirBnB, and even suggested a faster route. He gave us a detailed explanation of the cultural sites in the area. €11.80 to take two people with 4 luggage bags about 5 kilometers.

The GBT is 94 miles, right? I think the Swiss achieve these costs through economies of scale. There are tunnels throughout the country so they can achieve greater efficiencies at 5-10x of those in specific metro areas in the US. I remember when they were debating a tunnel under Tysons Corner in Virginia, the largest office park in the Washington-Baltimore area, the estimate came in at $800 miles for 4 miles and was considered cost-prohibitive. It'd be great to bundle a number of these projects together to achieve the efficiencies of scale.

And the person who bought the home in Palo Alto in 1981 is only paying 1/5 of the property taxes as the person in a comparable home who bought recently. California is really the epitome of having a tax code favoring land owners and the older generation over those relatively new to the job market.

True, but there is definitely a lot of staying power in those currently of retirement age, kicking the can down the road, with a growing proportion of the population over age 65 (20% in 2020 versus 9% in 1970) receiving the benefits of Social Security and Medicare which are largely unfunded.

There will have to be a number of cut-backs in retirement benefits for future retirees, including means-testing, removing the maximum wage for Social Security contributions, and higher Medicare premiums.

> The gigantic tech companies are always complaining they can't find 'good people'.

The "can't find good people" argument can usually be solved either 1) raising the pay, or 2) increasing the labor pool (i.e. H1B, etc). Raising the pay is what is done in finance because it's harder to make the argument that the required "skills" are lacking in the labor pool. To enter investment banking, and then private equity, it often only requires a B.A. in French literature and willingness to work 90 hours.