Mattie
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Free registration at the forum removes this block.As far as I know, every citizen in the US has the same rights - but some have special privileges. If the system was rigged, you would never see minority/POC politicians, athletes, celebrities, business owners, etc. Kinda breaks down the lies and myths.
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Let me tell you a fact: If you took all the wealth from the wealthy people and gave it all to the poor, it would wind up back in the hands of the wealthy again. There is a reason why this is true. If you're smart you will know why.
The reality is, like it or not, some people are born with more ability, more drive, more potential.
It’s naive to think that all wealth has been created through the same methodologies. Here in Asia many invested in properties and made fortunes, by sheer dumb luck. Many wall street executives made their fortunes in the good years when everyone was drunk with debt and asset prices skyrocketed.
Many Chinese here in Asia are middle class slow laners who did not know what investing is and no ideas of how to read a balance sheets. Some played stocks and got burnt. So most money went into properties because it feels tangible and they didnt know what better to do.It isn’t luck. Those entrepreneurs identified an opportunity and jumped on it. If they had been around in a different era, I think they probably would have found another opportunity. They would have “been in the right place at the right time” no matter what. On the other hand, if they had been raised under different circumstances then they may not have had the right attitude. See above.
But NOT every financially successful person reaches the place via the value path.
It is not to say they cheated.You are right. Not every rich person got there by adding value. Lottery winners and people who inherited all of their wealth come to mind. However, many (most?) rich people built value.
I latched onto the words “invested” and “Wall Street executives”. Both of those indicate value added. Although you can always argue whether they added enough value to justify their payout. The market spoke in these cases. The market may take it all back.
Of course, they could have been cheaters, too. I still think the market will eventually speak and drive cheaters to zero.
There is a lot of nuance on both sides of the argument that needs to be accounted for. Alas, that is always the case.
Bullshit. Anyone putting 10k per year into a 401k @ 7% for 35 years would amass around $1.5M. It’s luck that you actually return 7% year after year.My view is simple. In the game of wealth luck is real. It is the general rule not an exception. Trying to say every financially successful people became where they are because of intellect or hardwork is trying to impose your own morality on the universe which does not care.
Hardwork and creating value of course are very important. But they are important in covering your downside rather than predicting the upside. if someone is a sidewalker it is likely entirely his or her own fault. Most lucky episodes requires a minimum amount of Hardwork too.
If you live in decent country with decent opportuntiy, and work your a$$ off on a business or a career, and provided you are not too unlucky (no traffic accident or critical illness), I believe that it is highly likely to attain 1-2 million dollars of net worth (excluding the house you live in). But how fast can you do that and how fat can you go beyond that really depends a lot on luck.
p.s I do agree with you on the last two points - socialism is a good thing just look at DK, SWE, NO, FIN where education is free all the way to University, its a much more equal society. The rich will get their money back because of the knowledge the wealthy have that isn't provided in public schools/colleges most of the lower classes attend i.e we're not taught about capitalism, ownership, using credit to build wealth, entrepreneurship etc. we're just taught to be F*cking employees.
I did not say you have to wait 35 years. With a fastlane business it could be done in 5 years. For most people to be a millionaire you do not need extraordinary luck but just hardwork.Bullshit. Anyone putting 10k per year into a 401k @ 7% for 35 years would amass around $1.5M. It’s luck that you actually return 7% year after year.
Building a $20M company in 10 years isn’t luck. It’s about having the best product you can, understanding your customer better than anyone else, mastering sales and marketing, and understanding the fundamental mathematics behind why this all works. All of this requires hard work. Luck isn’t part of the equation.
Luck is just an excuse used by people who won’t do it. Rather than hurt their ego and accept that they weren’t willing to do what it takes, they can just blame “luck.”
Look! Mark Cuban said he got lucky! I guess I didn’t get lucky... that why I’m still broke. Not because I didn’t keep trying year after year... nope, not my fault. Mark Cuban said it was luck.
That explains a lot.Small success requires hardwork.
Big success requires hardwork AND luck.
Immanuel Kant is the guy who set this trend in motion when he convinced legions of bored aristocrats that "the good" is "whatever society says it is".
For these people, words ARE facts. He took "the word of God" and replaced it with "the word of society", implying that people create reality.
Serial entrepreneurs like Steve Jobs and Elon Musk sure are unbelievably lucky...But it will be delusional to think that you have a lot of control when it comes to big successes like building a 20 million company in ten years.
Im no saying they made it entirely due to luck.Serial entrepreneurs like Steve Jobs and Elon Musk sure are unbelievably lucky...
Luck philosophy?All of this luck philosophy is coming from a guy that wants to run cost benefit analysis on having children only so they can wipe his a$$ and put cream on his bed sores when he's old.
He also thinks women hit "peak value" at age 23.
So... I wouldn't worry too much about what @Kevin88660 says... he's got a screw loose.
Help. Girl Issues.
Is it me, or do more folks need to take statistics classes?You are using a strawman argument. Now you’re touting racial differences when you originally were bitching about wealth distribution. Tenacity, leadership, skills, wisdom and work ethic absolutely matter to wealth distribution... Unlike “cake” distribution.
Why are there more blacks in prison? Well, because they commit more crimes than whites... Yeah I know, facts make me “racist.”
Luck philosophy?
Do you believe that a person net worth 10 million is twice as smart and hardworking as a person net worth 5 million, assuming both started their own business and got rich?
I have no problem with disagreement but make sure you clairfy what you believe in.
And you were quoting me out of context. I was talking about sexual market value and it applies to dating only. Youth is one variable and I am not saying it is the only variable. And it should be left in that thread.
Some business indeed were started to be small. I am not comparing a local fastfood owner with a business aiming to take over the world.I never once said that hard work or intelligence was the only factor...
Most of the difference has to do with a larger vision and willingness to make the bigger sacrifice that entails. There are businesses that start out to be small, they might not admit it, but they do. They see a 5 million dollar business, not a 500 million dollar business. There are also proprietors that start out with their eyes on a world changing 10 figure business.
If you think the difference between a 3 million dollar company and a 3 billion dollar company is luck you are nuts.
Some business indeed were started to be small. I am not comparing a local fastfood owner with a business aiming to take over the world.
I am talking exactly on the big ventures. Why only a few went big sucessfully while many others cannot. Luck plays a big part. That’s why venture capital invest in hundreds of start-ups, knowing only a few could make it. Why bother investing in the losers when they can just focus on investing in a few, by using an aptitude test to find out the “positive attributes” of the founder?
If I say that after a war the soldiers who came back alive are proven to be better soliders I would be nut. But many folks here seem to apply that to the world of business.
The VC does that because they cannot predict the winners and they largely know that it is outside the control of anyone. They would be better off in investing in winners only, instead of having only 2 out of 100 invested going really big and losing money on the rest.You have indirectly proven my point from a different angle with this post.
The VC firms play the losing and the winning hands... Why? Because they only thing that matters is that they keep playing hands. Just like in business... Because they are a business.
Now... The solider example is limited to a sample of one, binary chance at an outcome... Dead or Alive... As if they only get to flip the proverbial coin one time... It is nonsensical.
The VC does that because they cannot predict the winners and they largely know that it is outside the control of anyone.
But it will be delusional to think that you have a lot of control when it comes to big successes like building a 20 million company in ten years.
Kant, though, he was one of the few modern thinkers to defend objective standards of moral rightness, which makes this a confusing complaint.
I know it’s not effective to voice those opinions so I voice fake opinions which helps me gain trust, persuasiveness and therefore more power.
Each person I meet I think “what can this person do for me?” And then “what do I need to say to make that happen?” And it takes care of itself.
I just nod and smile and do whatever it takes to be liked without saying anything real
say whatever will get people to love you
Yeah, go talk to norwegians who actually work and have a brain. I've been working there nearly 4 years and know what the real locals think about this. For example, people who have emigrated to Norway from arab or african countries. Free apartment (not a shithole, but with luxuries of course), money, no problem! Most of the norwegians (who are over 30 and have the ability to THINK) are sick of this shit.
My norwegian friend is working on a construction and every day theres a black guy (not sure where he is from, but not local) just chilling around on the site. He has never worked a minute there. One time a norwegian guy needed help with something and asked this dude to come and help him. He looked the norwegian guy like he was a F*cking idiot! Couple of days later the norwegian worker got a warning from the site supervisor or some chief guy because the black man went to him and complained. My friend asked his boss what the F*ck was going on. The boss said the government is paying this black dude 20K NOK (more than 2K euros) a month, just to show up on the site and doing nothing. Plus he got apartment just like that. No rent, no nothing. And now think about how much of this is going on all over Norway, for example? Talking about equality!
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