This Week in Startups

TWiST News: Startups & Wealth Taxes, The Bitcoin Boom, and The OpenAI Browser | E2051

4 snips
Nov 26, 2024
Fredrik Haga, CEO of Dune Analytics, shares his expertise in crypto data tools and discusses the challenging impact of wealth taxes on startups. The conversation highlights how these taxes can stifle innovation and drive talent away, especially in Norway. They also delve into MicroStrategy's aggressive Bitcoin strategy and the potential of OpenAI's new browser to reshape digital experiences. Additionally, excitement builds for the upcoming IPO class, particularly CoreWeave's debut, as the hosts analyze the shifting landscape of tech investments.
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ANECDOTE

Norway's Wealth Tax Issue

  • Frederick Hagga, Dune CEO, faced a large wealth tax bill in Norway due to unrealized gains from his company's growth.
  • This, combined with Norway's increased dividend tax, created a situation where he had to sell shares or leave the country.
ADVICE

Taxing Unrealized Gains

  • Tax unrealized capital gains when borrowed against, not when they're on paper.
  • This approach balances wealth generation with liquidity and fair taxation.
INSIGHT

The Importance of Talent and Capital

  • Talented entrepreneurs and investors are essential for a thriving startup ecosystem.
  • If a region's policies discourage them, they'll relocate to more favorable environments.
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