How to become a billionaire

Chew Toy McCoy

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Don't remember the name (sorry), but former Trump campaign manager and current Mark Zuckerberg adviser was quoted as saying there are only 3 ways to become a billionaire

Inherit it
Crime
Create a monopoly people depend on so you can operate with impunity (um....Facebook, Amazon, Paypal all birthed billionaires).

Being the largely career unmotivated pessimist that I am, I've come to the conclusion that if your goal is vast wealth there's no way of achieving that without screwing a lot of people over on your journey, even falling short of becoming a billionaire. At some point you just cross a threshold where screwing people is a heavy part of the equation. I'd be open on hearing about anybody who has achieved this without doing so (and I might correct you on how they actually did)
 

Chew Toy McCoy

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Thought I would add something about crime. Most people will probably think drug cartels or the mob but I'd throw Wall St. in there as well. They are constantly getting fined for breaking laws and regulations, but even after what sounds like a hefty fine they still have more money left over than if they didn't break the law in the first place. It was well worth breaking the law.
 

Yoused

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Start with a hefty dose of luck,

A ... study from the University of Catania in Italy attempted to understand just what role luck plays in our success (or failure). They've attempted to model human talent and how that talent is used throughout life. This model enabled them to explore how big a role chance plays in our outcomes.

The simulations the team ran were able to accurately reflect the wealth distribution we see in the real world, but what was really interesting is the talent distribution they observed. It wasn't those regarded as the most talented that became wealthiest, but rather those regarded as the luckiest.

because it is not an accident that a wad of wealth is call a "fortune".
 

Huntn

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Don't remember the name (sorry), but former Trump campaign manager and current Mark Zuckerberg adviser was quoted as saying there are only 3 ways to become a billionaire

Inherit it
Crime
Create a monopoly people depend on so you can operate with impunity (um....Facebook, Amazon, Paypal all birthed billionaires).

Being the largely career unmotivated pessimist that I am, I've come to the conclusion that if your goal is vast wealth there's no way of achieving that without screwing a lot of people over on your journey, even falling short of becoming a billionaire. At some point you just cross a threshold where screwing people is a heavy part of the equation. I'd be open on hearing about anybody who has achieved this without doing so (and I might correct you on how they actually did)
Abother question would be why create a society built on individual wealth? Ok, I realize 200 years ago same as today money makes the world go round, and seemingly everyone wants to be fabulously wealthy, but only a relative few with a bright idea achieve this based on the capitalist way. We don’t really work like a team, we work like individuals trying to personally get ahead with temporary allegiances And alliances. And many of us think we got ahead based solely on our individual efforts but in most cases it is the system and other people working hard that allowed us to excel, and personally benefit on an idea we had.

It’s easy to say, but hard to do, and that is work more like an ant or bee colony for the common good, but we are too individualist for that, and such ideas are bad mouthed by most of us.
 
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Yoused

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It’s easy to say, but hard to do, and that is work more like an ant or bee colony For the common good …

Here you run into "what is the 'common good'?" And, of course, the ramifications. Like, go to the park and hand a hundred dollar bill to the first person who looks up from their phone (by which I mean, they devices are awesome, but the unspoken cost to us has ballooned outta control). In other words, we not only must identify what the common good actually is but we must also look to its knock-on effects.
 

Huntn

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Here you run into "what is the 'common good'?" And, of course, the ramifications. Like, go to the park and hand a hundred dollar bill to the first person who looks up from their phone (by which I mean, they devices are awesome, but the unspoken cost to us has ballooned outta control). In other words, we not only must identify what the common good actually is but we must also look to its knock-on effects.
Imo Capitalism is not suited to guide an advance society, one that is firing on all cylinders into the future. Culprits: Capitalism, Corprotacray, politicians, stupid sheep, a majority of Human Beings who are stupid, or think they are part of the Country Club, but in reality are just it’s janitors. Evidence:
  • Number one: Follow the money.
  • Me>We.
  • Automation
  • The desire to become filthy rich.
  • Capitalists sending millions of what used to be good paying jobs out of the country for their profit.
  • Corporations who give zero thought to the damage they cause their homes country and economy by disenfranchising those millions of their jobs for their profit.
  • Elected politicians in in the scam, who mindlessly try to lower taxes to support corporate profits, and a system as they see it that tells the majority Fuck You, you are our slaves whose job in this life is to buoy us up for profit.
  • Corporations along with their slave paid labor, get the bonus of polluting the Earth anywhere they are allowed to. Let someone else deal with the clean up, not me. Ka-ching!
  • Lots of money to be made as the Earth turns into an oven.
  • A system of government that calls itself loyal and patriotic but allows all the above to happen.
But really the bottom line and culprit are the masses who allow this to happen, and not demand that it stop. Too many sheep, just enough wolves, that’s us and a recipe for failure, the Great Filter will see to it.

 
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Start with a hefty dose of luck,

A ... study from the University of Catania in Italy attempted to understand just what role luck plays in our success (or failure). They've attempted to model human talent and how that talent is used throughout life. This model enabled them to explore how big a role chance plays in our outcomes.
The simulations the team ran were able to accurately reflect the wealth distribution we see in the real world, but what was really interesting is the talent distribution they observed. It wasn't those regarded as the most talented that became wealthiest, but rather those regarded as the luckiest.

because it is not an accident that a wad of wealth is call a "fortune".

FYI - colored text doesn't play well with themes:

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Thomas Veil

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…current Mark Zuckerberg adviser was quoted as saying there are only 3 ways to become a billionaire

Inherit it
Crime
Create a monopoly people depend on so you can operate with impunity (um....Facebook, Amazon, Paypal all birthed billionaires).
I think Mr. Warren Buffet would take exception to that. 🙂
 

Chew Toy McCoy

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I think Mr. Warren Buffet would take exception to that. 🙂

There‘s always exceptions. 😉 Plus I’d argue the stock market is a different beast than when he started. I don’t know if you could become a billionaire based largely on the stock market starting from scratch today.
 

SuperMatt

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Google’s management tells its employees it cannot afford raises for them.

Shortly thereafter…


Google is giving four of its top execs a significant pay bump, raising their salaries from $650,000 to $1 million, just weeks after the company told staffers it wouldn’t automatically adjust salaries to account for inflation. The new executive salaries were disclosed in an SEC filing.

The executives receiving the $1 million base salaries are chief financial officer Ruth Porat, senior vice president Prabhakar Raghavan (who is in charge of Google search); senior vice president and chief business officer Philipp Schindler; and president of global affairs and chief legal officer Kent Walker. All four executives are eligible to “participate in a maximum $2,000,000 annual bonus program, based on contributions to Google’s performance against social and environmental goals for 2022,” according to the filing. Each person has also been granted stock awards with target values in the millions of dollars.

Google has been very financially successful as of late — it posted its fifth quarter in a row of record profits in October. But in contrast to giving the four execs huge pay raises, Google’s vice president of compensation told workers at an all-hands in December that the company doesn’t plan to make broad salary adjustments to account for the rising inflation rate in the US.
 
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