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A.Word.A.Daywith Anu Garg
From grub (food) + stake (share). The term has origins in gold mining, where miners would get investors to fund their efforts in return for a cut of the profits. Earliest documented use: 1863.
“Starting with a grubstake in the low six figures, Two Small Fish backed 22 companies, some of which became breakout stars in Canada.”
Sean Silcoff; Two Small Fish Aims to Take Big Bite of Tech Market With New Venture Fund; The Globe and Mail (Toronto, Canada); Oct 4, 2022.
“If Bezos had any particular ingenuity, it was in realizing that not only could Amazon avoid paying taxes to get a leg up over its competitors, but it could rely on witless local, state, and federal government representatives to actively grubstake the company’s growth. As a result, in 2018 Amazon contributed $0 in corporate tax on $11 billion in profit, and actually bagged a $129 million tax rebate. ‘[F]rom 2009 to 2018, the company paid an effective tax rate of 3 percent on profits totaling $26.5 billion’ writes MacGillis. Amazon wove a new social fabric by threading an astonishing number of loopholes in the American tax system.”
Alexander Sammon; In Bezosworld; The American Prospect (Princeton, New Jersey); Mar/Apr 2021.
See more usage examples of grubstake in Vocabulary.com’s dictionary.
A THOUGHT FOR TODAY:What I like in a good author isn't what he says, but what he whispers. -Logan Pearsall Smith, essayist (18 Oct 1865-1946)