I like how he tries to quote a "Nobel prize winning economist" as an appeal to authority, but then (without naming him) insults Picketty's work, which will probably win a Nobel. PG is a smart guy but he really should stick to his areas of expertise, him and Marc Andreessen both frequently make basic finance and econ theory mistakes. PG's claim that he is in a position to speak with authority on inequality is like an electrician claiming he is in a position to speak with as much authority as the architect concerning the overall progress of the building.