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taxes or the guillotine. decapitilization or decapitation.
I prefer the first option, but ultimately the outcome is what’s important.
It makes me think of hoarders. It just happens to be the case that money is universally sought-after, and so we think “it make money, is good!” But it’s not much different from someone with stacks of ancient newspapers filling 98% of their living space. It’s not like Jeff could actually spend all of that money even if he wanted to. He has more than he could ever need to live the most lavish and privileged of lifestyles, including giving the same to several generations of his offspring. He could still go to space and do all that crazy shit with 10% of what he has in his bank account. It can’t be normal.
548 years to a billion dollars at 5k per day. Saved you a calculator.
Thank you, now try telling this to my debt collectors
It’s a mental illness
Maybe but there are also lots of people with mental illness who manage it and are still decent people. Not every sociopath is a serial killer but every billionaire is fucking evil. The decision to acquire great wealth at other’s expense and use it only for yourself is something else.
Ehh I think we are forgetting about compounding interest.
that’s true, but still think about how long it would still take.
Yea, it would take a long time.
wat
You need 548 years
bUt hE GivE TO CharITY! i BELievE HiM! gOoD wHiTE MasTEr!
Off with his head
Hahaha can’t even show up to protest. Who would build the guillotine?
If you made 7000 dollars every hour since Jesus was born, you would still not have as much money as Jeff Bezos.
But you’d probably be getting compound interest.
You’re missing the point. The point is that “no-one works for a billion dollars”. Making money for free because you already have money (aka interest) is not working for that money.
I think you’re missing the point. People attempting to represent “the left” (which tends to consider it’s grasp on reality and interpretation of data a strength) sometimes put out completely inaccurate bullshit. In this particular example, people that can do math see right through it; thus discrediting a lot of the other (not bullshit) stuff the left comes out with.
I’m not missing the point, I get it. It’s just like, ugh, imagine if you’re witnessing someone in this magical scenario where they get so much money ($5k a day), but they still aren’t putting it into any sort of accounts that gets interest. It’s like watching your friend win the lottery and then buy more lottery tickets or something. I can’t help but just be like “noooooo wait! Don’t do that!”
It’s worth pointing out that $5k a month, with 1% interest is still worth only $10 million after a hundred years. Which is using a more realistic vehicle for wealth growth and still shows how insanely wealthy billionaires are. The tools wouldn’t let me plug in more than a hundred years and I didn’t bother calculating more by hand. https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
Investing your money is not “making money for free” it’s providing your money to someone else so they can use it to make money. Then you make money when they make money. It’s capitalization. You risk losing all of that money if the investment fails. If you work a job you put your time and effort in and get paid for that but if the company fails you lose your job, they don’t take away your house.
It’s no different from a loan. Suppose you lend your friend $10 to buy some pepper seeds and they grow a bunch of peppers, sell some of them for $20, keep the other peppers, and collect seeds from the peppers so that they have even more seeds next year. Is it really fair if they just pay you back $10 next year? No!
They used your $10 to buy the seeds they needed to start with, they earned themselves $20 from pepper sales, plus they got to eat some peppers and even ended up with more seeds than they originally bought. They should pay you back more than $10 for the simple reason that you did not have use of your $10 for an entire year, so you did not have the ability to buy those pepper seeds and make the profit yourself.
That’s the time value of money. It’s why we pay interest on loans. Because to not do so is to saddle the lender with unfair opportunity costs, in addition to the risk of losing their money (maybe the peppers all die and your friend tells you they can’t pay you back the $10 anymore).
I don’t know what you do for a living, but that’s the clearest and most engaging explanation of interest rationale I’ve ever heard. You’d be a great teacher.
I’m betting he is a landlord, perhaps a banker, some bootlicker professon for sure.
No I’m betting teacher, trainer or something aligned where they have to invent relatable analogies. That was top tier. I’d like to hear them explain the banking system, how money is invented from thin air by a mortgage, for example. Someone once explained it to me but it’s gone in the mists of time.
Edit: Also I don’t get the hate. Am not picking up ultra-capitalist screw the worker vibes. Maybe tone it down so people can just be themselves and chat?
I’m not a teacher but I do volunteer to tutor high school kids whose families are from Somalia. I used to be in the mathematics teaching program in university but I decided not to become a teacher. I love to teach but I’m not equipped to deal with all of the other stuff teachers have to put up with (angry parents, disinterested / defiant students, standardized testing, failing school systems).
Don’t let the people throwing around “bootlicker” bother you. These folks are totally lost in a pit of resentment. They’re basically left wing MAGA types. The two groups are going to tear apart western civilization if they have their way. I’m hoping sanity will one day prevail.
You’re going to be a great bootlicker one day too. Dumb as a rock, can’t remember simple concepts, sycophant extraordinaire.
lol ok. Have a nice day.
You’re also missing the point. In your scenario, someone else did the work and the person with the money got more money as a result. This is what we mean when we say you can’t earn a billion dollars - you’re just skimming off other people’s work
If you don’t think it’s fair then don’t borrow my $10 for pepper seeds! Find something else to do to earn your own money. I’ll buy the pepper seeds myself and keep the profits.
By the way, I’ve grown peppers myself. It’s very easy. The sun and the plants do 99% of the work. Claiming that “you did all the work” by germinating and transplanting a few seeds is quite silly.
Nobody said it wasn’t fair. But that’s not working for money. That’s explicitly the point of investing.
If you grow your own peppers, yeah you’d be working for the money. It doesn’t get much clearer than that. Digging up nonsense about how ‘hard’ the work is in your random example is irrelevant and wildly out of touch.
Let me quote GP because it seems like you’ve already forgotten what they said:
you’re just skimming off other people’s work
Now how do you reconcile that with this:
Nobody said it wasn’t fair
Either you’re just flat out lying when you say this, or you think “skimming off other people’s work” is fair. Which is it?
It’s not a charitable way to phrase it, but it’s not inaccurate. ‘Fair’ is wildly subjective. The concept itself is not unfair, but the application certainly can be. Regardless of whether it’s ‘fair’ or not, the general point is that it isn’t work.
Whenever a capitalist says he got wealthy through hard labor ask him whose.
Conservative logic: Giving poor people a small amount of money will cause them not to work, whereas passing laws that benefit billionaires will cause them to create jobs.
Bezos does not make a billion dollars in a week, unless you count certain short term gains based on random variation of the stock market, in which case he also loses a billion dollars in some weeks.
Over the last 6 years he’s gained ~150B. That puts it at 410M per week on average over that time period.
So how much does he profit off of amazon every week?
That poor man. How does he cope?
ikr. I’d just die of embarrassment if i made less than $150B in a few years.
Bezos makes ~$2,500 every SECOND. His big idea? Get a bunch of funding to heavily undercut local bookstores and operate at a loss while destroying local businesses such that he could take over as a near monopoly. And it’s highly doubtful that it was his idea, but it worked because when you’re willing to cheat against those not willing to do the same you’re gunna win.
Best part is Amazon can’t even manage to shop books without destroying them at this point.
