E53: Wealth tax, inflation as a capital allocator, big tech earnings, paternity leave & more

From tech earnings: the case for Google as the all-time best business: layers of internet monopoly (hardware, fiber, search, etc.) Microsoft close second.

Intriguing strategy for going long-growth but hedged for inflation, at scale:

• Long GOOG, MSFT (low dependencies on physical goods...able to pass cost increases on to customers)
• Short FB, AMZN, AAPL (make, distribute, advertise heavily dependent on physical goods...lower ability to pass cost increases on to customers)