Speaker 1
There we go winning is the way to go absolutely man all right we're gonna take a break for a second
Speaker 2
yeah all right guys let's take a break for a second this podcast has been brought to you by Squarespace okay if you're looking to build a website you need to look into Squarespace all right they make it easy to create a beautiful website to help you engage with your audience sell anything from products to content to your time and you can do it all on your own terms. They have Squarespace payments. Also, it's the easiest way to manage your payments in one place with Squarespace. Onboarding is fast and simple. Get started in just a few clicks and start receiving payments right away. Plus, give your customers more ways to pay with popular payment methods like Klarna, ACH, Direct Debit, Apple Pay, Afterpay, and ClearPay. Also, design intelligence from Squarespace uses cutting-edge AI technology to unlock your strongest creative potential. Design intelligence empowers anyone to build a beautiful and more personalized website tailored to their unique needs and craft a bespoke digital identity to use across one's entire online presence. And last but not least, Squarespace can help you with SEO. Every Squarespace website is optimized to be indexed with meta descriptions and auto-generated sitemap and more, so you show up more often to more people in global search engine results. So right now, go to squarespace.com for a free trial, and when you're ready to launch, squarespace.com/flagrant to save 10% off your first purchase of a website or domain. Now,
Speaker 1
let's get back to the show. Problem is the people who are able to participate in that right now are the ones who have excess capital that in the short run can stomach the risk of the market volatility. That is, if you wanted to pick, there's many sources of American inequality, but if you wanted to get to the root of it, you to pick one thing, it's compound interest. That's the ball game. So
Speaker 1
you have a generation of people who don't participate in that who end up being skeptical of capitalism. So in a certain sense, what you're doing here is you are cultivating a generation of Americans who win through capitalism. So when they graduated at the age of 18, compound interest through the success of the stock market and capitalism is no longer a source of bruised salt on a wound, of envy of somebody else's success, but the success that allowed you to have a quarter million dollar nest egg to be able to get a head start in the American dream. And they believe in America more. It does not take a lot of money i mean in terms of that we're talking about percentage of the federal budget percentage of savings of waste from the federal budget invested in this it's tiny it's like it's like infinitesimally small fraction but then you'll have a bunch of loan
Speaker 4
shark businesses like oh access your money now with this huge interest rate when you turn 18 i think you shouldn't be able to
Speaker 1
do that so i think and here i'm a libertarian, generally libertarian-oriented instincts when it comes to adults. Kids are not the same as adults. So if you put that in the bank account of a kid at four months old or at one month old or on the day of his birth, it has to be fully invested in the diversified stock market over a period of 18 years. When he's 18 years old, he gets it out. I would make it tax free.
