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E20: Robinhood wrap up, Insiders vs. Outsiders, California's failing report card & how to fix it
All-In with Chamath, Jason, Sacks & Friedberg
California Public Pension Funds - One Out of Nine
One out of nine Californians are a member of a public pension fund in the state of california. Public pension funds in cali ora, as of the last reporting, are roughly 250 billion dollars under funded relative to the payment obligations they have to their members. So not only does the state have a lot of debt, we've got a 200 ad 50 billion dollar whole for paying people money that they believe their own in the future. And that is creating a massive problem where the state needs to figure out, how do we fill that whole? How do we meet these obligations to our citizens worked who earned what they believed to be a fair income stream for the rest of
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