Gary Michaels

What exactly is the problem with someone wanting to preserve their wealth for future generations, especially within their own family?

What exactly is the problem with someone wanting to preserve their wealth for future generations, especially within their own family?

What would that look like for you if the United States invested in these people more than they are now? For you could say, we actually are a society that does do this.

What would that look like for you if the United States invested in these people more than they are now? For you could say, we actually are a society that does do this.

What would be some of those opportunities? What does that look like for the government to really give more?

What would be some of those opportunities? What does that look like for the government to really give more?

Got it. That's big. Let's talk a little bit about what you kind of explain as an interesting relationship between luck and power. Can you talk to that a little bit?

Got it. That's big. Let's talk a little bit about what you kind of explain as an interesting relationship between luck and power. Can you talk to that a little bit?

This is my definition. I'd like to hear what your thoughts are on it. Luck is where preparation meets opportunity. Do you think that just because a person maybe is at a lower economic level, a lower status level, they should still be able to be given privileges if they haven't put the work in, the preparation? Are they still entitled? Because that's not healthy for the society either.

This is my definition. I'd like to hear what your thoughts are on it. Luck is where preparation meets opportunity. Do you think that just because a person maybe is at a lower economic level, a lower status level, they should still be able to be given privileges if they haven't put the work in, the preparation? Are they still entitled? Because that's not healthy for the society either.

That makes sense. Now, surely the problem can't be exclusively limited to white men. There must be some examples of wealthy women using compounding unearned advantage or wealthy individuals of other races. What does the research show? Do you have any statistics that can illustrate the imbalance a little bit? Yeah.

That makes sense. Now, surely the problem can't be exclusively limited to white men. There must be some examples of wealthy women using compounding unearned advantage or wealthy individuals of other races. What does the research show? Do you have any statistics that can illustrate the imbalance a little bit? Yeah.

Now, we've talked a little bit about these two separate issues here, race and gender and inequity in it. Is one posing a larger challenge than the other? It's a really good question.

Now, we've talked a little bit about these two separate issues here, race and gender and inequity in it. Is one posing a larger challenge than the other? It's a really good question.

A lot of people nowadays like to say there's no such thing as a good billionaire. Is that really the case? And is that really the fault of the person themselves or the tax system or other systems that have been built around them?

A lot of people nowadays like to say there's no such thing as a good billionaire. Is that really the case? And is that really the fault of the person themselves or the tax system or other systems that have been built around them?

So we have a lot of listeners who are very successful and might find themselves in this advantaged position you're talking about. but also are already generous. What can people like that do to be more sympathetic to what you're saying?

So we have a lot of listeners who are very successful and might find themselves in this advantaged position you're talking about. but also are already generous. What can people like that do to be more sympathetic to what you're saying?

That's an interesting perspective. Let's move into legacy a little bit. What does legacy mean to you?

That's an interesting perspective. Let's move into legacy a little bit. What does legacy mean to you?