n and idiots have something to talk about. Fairness is not something you want. You want meritocracy. That's not fairness because some people have more merit. Some people will thrive in a meritocracy, some people won't. It's not exactly fair but it's just a good system for everyone. So this system where they just take your money if you're very successful, it's just a terrible idea.

So here's what I'm wondering. Could the California billionaires do something that would make it look like they were contributing more to the state and would actually be contributing more without having their money confiscated? Is there a counterproposal that the billionaires could make to say, hey, instead of taking our money and then giving it to California that will waste it, because that's the other big problem. If you know for sure that California is wasting your money, it's really hard to give them an extra billion, right? It's way harder if you earned a billion, but let's say you had lots of billions. It's pretty hard to give them a penny more when they're so bad at allocating the capital.

So what if the billionaires came up with a counterproposal and I'll just brainstorm a little bit here in which they would be voluntarily but maybe at threat of some penalty they could allocate more money for the benefit of California. For example suppose California said we really need to improve affordability. So if you're a billionaire and you commit to put 1 percent of your assets directly into investments that would improve affordability, you don't have to pay, you won't be subject to the confiscation. So let's say you're a billionaire and you say to me, Scott, you can invest your money anywhere you want, but if you invested in ways that would improve affordability for Californians you don't get the penalty of having to confiscate. And that to me would be excellent.

And one of the things that Chamath talks about is that the richest people, especially the AI billionaires, they need to do something that's highly visible but also good for the public. And I'm totally on board with that. It should be highly visible and good for the public. That is one thing that Bill Gates was doing very right with the Gates Foundation. So when he was the richest guy around it really helped him that he said he was going to give it all away, that he was putting lots of his billions into a charitable thing. Now since then there's been lots of criticism