Poah, he might be good at business but he can learn something about brevity. That was a lot of repetition.

TLDR:

He says the idea that if “wages are more expensive then less jobs will available” is wrong. Because these wages are only possible because there are customers. And when the wages are too low, there won’t be as many customers.

“But then what makes up the difference?” As wages go up, the prices for basic needs don’t go up as much. Moreover, most of it comes back to the tax payer in the form of socialized healthcare and food stamps.

He states that if him and his rich peers lived in a ghana or something, they’d be fruit salesmen. Not because they’re bad at business, but because that’s what their customers can afford best.

His conclusion: either the government, or employers should raise minimum wage. But the government likely isn’t going to, so it’s up to the super rich business folk to do so.

Also some fluff about his early investments, and 100x repeating some of the stuff above way too many times.

I remember reading this a decade ago and thought he was right then. He’s still right today, if not more so.