Sachs: Government spending exceeding 20% of GDP destabilizes the economy
David Sacks · E49: Coinbase CEO reflects on controversial blog, state of the markets, 1000 unicorns & more · Oct 2, 2021 · at 47:40
David Sachs, venture capitalist at Craft Ventures, analyzes federal budget proposals and macroeconomic stability during a conversation on federal spending bills.
0:00 / 0:17exact quote · 17.1s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“My theory on this is that if you have government spending as a, you know, share of the economy at around 20% from a tax and spending standpoint, things basically work, ok? But as you try to go up to 25 and 30%, it starts to break.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from David Sacks
Sacks: Reid Hoffman told Peter Thiel he wished Trump was a martyr
“Just days before the shooting, Peter Thiel and Reid Hoffman had an exchange at Allen and company that was publicly reported. In which Peter said that Reed had turned Trump into a martyr by funding lawfare, and Reed responded, I wish I had turned him into an ac…”
Sacks: Blinken told Russia US wanted Ukraine in NATO with nuclear weapons
“And you know, it turns out that the month before the Russians invaded, Blinken told Lavrov that the administration was not only going to bring Ukraine into NATO, but that they thought it was okay for the United States to put nuclear weapons in Ukraine.”
Sacks: Re-electing Biden presents a serious risk of World War III
“I mean, what we're really talking about here is World War III. So if you want to have a serious chance of World War III in the next four years, then I would say go ahead and vote for Biden in November.”
Sacks: COVID-19 patient zero was a Wuhan lab gain-of-function researcher
“Patient zero, it turns out was a researcher at the Wuhan lab. Who was performing gain of function research?”