A little thread about language and #HumanRights...
Recently I shared an NHS letter (not mine) that started with the line 'The vast majority of babies are normal.' It meant 'normal' as opposed to babies born with particular conditions, including #DownsSyndrome
But it's not just difficult because someone is speaking about your child using language loaded with negative assumptions. It's difficult because you know it's a reflection of how people with learning disabilities are widely viewed and treated.
More from Society
So, as the #MegaMillions jackpot reaches a record $1.6B and #Powerball reaches $620M, here's my advice about how to spend the money in a way that will truly set you, your children and their kids up for life.
Ready?
Create a private foundation and give it all away. 1/
Let's stipulate first that lottery winners often have a hard time. Being publicly identified makes you a target for "friends" and "family" who want your money, as well as for non-family grifters and con men. 2/
The stress can be damaging, even deadly, and Uncle Sam takes his huge cut. Plus, having a big pool of disposable income can be irresistible to people not accustomed to managing wealth. https://t.co/fiHsuJyZwz 3/
Meanwhile, the private foundation is as close as we come to Downton Abbey and the landed aristocracy in this country. It's a largely untaxed pot of money that grows significantly over time, and those who control them tend to entrench their own privileges and those of their kin. 4
Here's how it works for a big lotto winner:
1. Win the prize.
2. Announce that you are donating it to the YOUR NAME HERE Family Foundation.
3. Receive massive plaudits in the press. You will be a folk hero for this decision.
4. Appoint only trusted friends/family to board. 5/
Ready?
Create a private foundation and give it all away. 1/
Let's stipulate first that lottery winners often have a hard time. Being publicly identified makes you a target for "friends" and "family" who want your money, as well as for non-family grifters and con men. 2/
The stress can be damaging, even deadly, and Uncle Sam takes his huge cut. Plus, having a big pool of disposable income can be irresistible to people not accustomed to managing wealth. https://t.co/fiHsuJyZwz 3/
Meanwhile, the private foundation is as close as we come to Downton Abbey and the landed aristocracy in this country. It's a largely untaxed pot of money that grows significantly over time, and those who control them tend to entrench their own privileges and those of their kin. 4
Here's how it works for a big lotto winner:
1. Win the prize.
2. Announce that you are donating it to the YOUR NAME HERE Family Foundation.
3. Receive massive plaudits in the press. You will be a folk hero for this decision.
4. Appoint only trusted friends/family to board. 5/
You May Also Like
These 10 threads will teach you more than reading 100 books
Five billionaires share their top lessons on startups, life and entrepreneurship (1/10)
10 competitive advantages that will trump talent (2/10)
Some harsh truths you probably don’t want to hear (3/10)
10 significant lies you’re told about the world (4/10)
Five billionaires share their top lessons on startups, life and entrepreneurship (1/10)
I interviewed 5 billionaires this week
— GREG ISENBERG (@gregisenberg) January 23, 2021
I asked them to share their lessons learned on startups, life and entrepreneurship:
Here's what they told me:
10 competitive advantages that will trump talent (2/10)
To outperform, you need serious competitive advantages.
— Sahil Bloom (@SahilBloom) March 20, 2021
But contrary to what you have been told, most of them don't require talent.
10 competitive advantages that you can start developing today:
Some harsh truths you probably don’t want to hear (3/10)
I\u2019ve gotten a lot of bad advice in my career and I see even more of it here on Twitter.
— Nick Huber (@sweatystartup) January 3, 2021
Time for a stiff drink and some truth you probably dont want to hear.
\U0001f447\U0001f447
10 significant lies you’re told about the world (4/10)
THREAD: 10 significant lies you're told about the world.
— Julian Shapiro (@Julian) January 9, 2021
On startups, writing, and your career:
1/OK, data mystery time.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE
That's weird. Income inequality in China is legendary.
Let's check this number.
2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".
The report is available here:
3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.
The graph cites the World Development Indicators as its source for the income inequality data.
4/The World Development Indicators are available at the World Bank's website.
Here's the Gini index: https://t.co/MvylQzpX6A
It looks as if the latest estimate for China's Gini is 42.2.
That estimate is from 2012.
5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.
I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.