how to make money from rich dumb people....

[dubaismartmoney]

I sense alot of brainwashed people about somehow anything a rich guy does is smart....


as i said :


"people need to stop sucking rich people ..... (something)


rich people arent better just because they have money"


I know this case, and in this case, the person who spent the money was complaining and moaning about how much he spent in this bill.... and I dont know if he even had the money to pay for it with with a card or some kind of easy way....

anyway if u think 100ks are "chump money" go ahead, or should I say good luck to you, and try to say that to any bank, investor or biz angel.....

paying 20x the actual value for something isn't smart, i dont care how you try to spin it or reframe it!!!!

in this topic is being discussed the ROI on premium company's and type of biz and how its smart to bank on making huge profit and making costumers "thinking spending lots of money is actually cool"!

please stay on topic

 

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[DeletedUser394]

Sigh, no one here is saying rich people are inherently smart, no one is 'sucking rich people' (you mean 'sucking up to rich people' and at the same time no one is dumb for spending their own money how they see fit.

So when you buy a ticket at the movie theater + popcorn, candy, and a drink for $30, when you can get the same thing for less than a dollar (by buying packages from Costco or the grocery store and buying used dvds or netflix..so ~15x-20x the value), is that dumb too?

By your calculation paying 20x the value of anything is dumb. So everyone that has ever gone and enjoyed a new release in theaters with popcorn, a drink, and candy is dumb.

Same thing at a hockey game. Good tickets cost $300/pair. You can get basic tv service and watch them on tv for $50/month. Assuming you go to 5 games in a month that is $1,500 vs $50/month to watch them on tv. 30x the value. Guess they must be stupid too.

To give you a personal example, when I was living in Montreal, I used to stop by a bookstore on Greene Ave. (a very ritzy area). The bookstore was beautifully furnished, the people working at the bookstore all wore suits & ties, and there was classical music piped through speakers (sometimes even live music).

Guess what... The book prices were marked up at 50% or more. You basically payed a premium for the 'exclusivity' and experience from shopping at this store. I could have easily gotten those same books for 50% less at Chapters.. but the experience would have not been the same.

I can't recall the last time I went to Chapters (even though it was probably a month or two ago), but I definitely remember the last time I went to Nicholas Hoare (the name of the bookstore) which I last visited over 2 years ago.

What is stupid is financing a $20K car or upgrading to a bigger home or getting into more credit card debt, when you're already up to your eyeballs in debt. If you can't afford something, but you buy it anyway because you feel you are somehow entitled to it, then that sounds pretty dumb..

If you buy a Ferrari and your only intention is blowing it up with some C4 on your 100 acre ranch, then why the heck not, if that's what you want to do go for it... seeing as you can probably afford 500 more cars.

People are weird, and like to do weird things.. doesn't automatically make them dumb.

The only thing I see that's stupid is paying and obtaining financing for things you can't actually afford. (which most people do every day).

By the way: If you wanted to discuss the business aspect of it, might I suggest not starting a thread titled 'how to make money from dumb rich people' in the future. Maybe then you'd get a more serious discussion of your intended topic.

 

[Jake]

How do you price enjoyment? Their leisure time may be much more limited than their bank account.

 

[dubaismartmoney]

is very funny how people really need to reframe 1+1=2 just because someone is rich


i found it very funny and to get some argument about getting in debt and bla bla the poor man excuse about people being poor.

economics are very simple if you spend 20xs more than the value of something you are in fact being dumb (20xs really you thing that if u make that in some shares in the stock market is not amazing???)

no doubt about that, speacily when u go about it complaining and bitching about it (the guy that payed... the rich somehow awesome guy hahahha)

in fact I was saying that Cavalli is cool to operate like this, very clearly.

since I opened this topic I already been contacted about a premium biz opportunity.

thats all I care the people that actually read

btw the enjoyment of the guy wasnt much, since he was complaining...!

most people think like costumers, I immediately tought when I heard this story from a friend, "what a Great Biz"

 

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[DeletedUser394]

Hopelessness is hopeless. Oh well, back to making money.

Good luck with your 'premium business opportunity'.

So many clowns in this world.

 

[winch]

I believe he meant something more vulgar than sucking up to rich people.

For the record, logically you are not arguing apples to apples here. To say paying $300 for a live sporting event you could've watched at home or $30 for a movie at the cinema when you can wait for a DVD is not the same situation being discussed. And they lack the scale.

Hell, even your bookstore example is orders of magnitude below what's being commented on here. Do your really think you'd get this same response if he posted a receipt of something paying extra for some books at a ritzy shop vs. 100k+ for a fractions worth of the same alcohol?

Sigh, no one here is saying rich people are inherently smart, no one is 'sucking rich people' (you mean 'sucking up to rich people' and at the same time no one is dumb for spending their own money how they see fit.

So when you buy a ticket at the movie theater + popcorn, candy, and a drink for $30, when you can get the same thing for less than a dollar (by buying packages from Costco or the grocery store and buying used dvds or netflix..so ~15x-20x the value), is that dumb too?

By your calculation paying 20x the value of anything is dumb. So everyone that has ever gone and enjoyed a new release in theaters with popcorn, a drink, and candy is dumb.

Same thing at a hockey game. Good tickets cost $300/pair. You can get basic tv service and watch them on tv for $50/month. Assuming you go to 5 games in a month that is $1,500 vs $50/month to watch them on tv. 30x the value. Guess they must be stupid too.

To give you a personal example, when I was living in Montreal, I used to stop by a bookstore on Greene Ave. (a very ritzy area). The bookstore was beautifully furnished, the people working at the bookstore all wore suits & ties, and there was classical music piped through speakers (sometimes even live music).

Guess what... The book prices were marked up at 50% or more. You basically payed a premium for the 'exclusivity' and experience from shopping at this store. I could have easily gotten those same books for 50% less at Chapters.. but the experience would have not been the same.

I can't recall the last time I went to Chapters (even though it was probably a month or two ago), but I definitely remember the last time I went to Nicholas Hoare (the name of the bookstore) which I last visited over 2 years ago.

...

 

[dubaismartmoney]

@RyanDrake

the only response to you sir:

Good luck at being a clown!!!



since you dont have any argument, and somehow need to win some kind of approval.... you go straight to calling names......

Hopelessness is hopeless. Oh well, back to making money.

Good luck with your 'premium business opportunity'.

So many clowns in this world.

this topic is complety closed and please dont ever reply to any of my posts RyanDrake !!!!

 

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[GDevDir]

surely by this logic, buying a beer at a pub makes you stupid, as your paying 4x what you would at the super market?

at what point does the multiplier have to be to make it a "stupid" purchase?

Its all about the location. I for one wouldn't leave a strip club and goto the corner shop, then back again to save a few quid ^^.

Chances are that person was expecting those prices and planned ahead, I very much doubt he threw it on the credit card to worry about later.

 

[DeletedUser394]

I believe he meant something more vulgar than sucking up to rich people.

For the record, logically you are not arguing apples to apples here. To say paying $300 for a live sporting event you could've watched at home or $30 for a movie at the cinema when you can wait for a DVD is not the same situation being discussed. And they lack the scale.

Hell, even your bookstore example is orders of magnitude below what's being commented on here. Do your really think you'd get this same response if he posted a receipt of something paying extra for some books at a ritzy shop vs. 100k+ for a fractions worth of the same alcohol?

Yes, I was using it as an example. Most of us (average middle class) would not think twice for paying that premium for books or movie tickets or sporting events. When you're rich, that number just gets multiplied by 'x'.
We don't think twice about buying a pack of gum. Well, when you've got $100M in the bank, you don't think twice about dropping $100k on an evening out. It's identical, just on a whole different scale.

What about a private jet. Why buy a private jet when you can get to the same destination for 1,000x less. My answer: Why not? If you can afford it (and many people can) then go for it if that's what you want to do!

And as for liquor. Why go to the local dive/watering hole when you can afford to mingle with the stars and big players? ..Premium price to us is not the same to someone who can afford it.

Come on people this is the fastlane forum!! The whole point of the fastlane is to have enough money to do whatever you want, whenever you want, however you want.

If you want to just live securely or you want to spend more lavishly and extravagantly then either is great!

Why is it inconceivable that someone would have that kind of money to spend...?

and anyway, OP is from Dubai I assume... a mecca of extravagance and opulence.. I'm surprised the bill wasn't more.

 

[hakrjak]

Think this business model falls under the category of "Giving rich guys with too much money another way to try to impress girls" -- haha... I mean, let's face it -- the whole VIP thing with $1000 bottles of vodka and table service, etc is just another way guys can show off their black Amex to girls in hot pink tube tops and 6 inch platforms.



-Hakrjak

 

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[SeattleSunnyDay]

Playing devil's advocate here - What if the person that payed the 400k bill was wining and dining a potential client and ended up signing a 3m deal with him. Would he still be dumb for spending the 400k to get the 3m? :smug2:


Edit: Looks like 77startup beat me to saying the same thing.

To me this makes perfects sense. Also, think of how many people the Cavali Club work for them. This is how they keep people employed. This is the distribution of wealth that so many say doesn't happen from the rich. I say let them spend all the "stupid" money they want. It creates a lot of down-line income for a lot of other folks.

 

[WBoone]

i owned a club and bottle service was a huge money maker for us. Depending on the night and whats going on a bottle gonna cost you $150 to $1000. And we paid 20 or so for it.

Suckers trying to impress their friends or impress the girls. We also sold cigars with 500 or 1000 percent margins. People love to show off and it was wonderful for me.

 

[kirrubi]

hello dubaismartmoney first thank you i readed this history before and you made me think for some time.
sure you are from dubai so what i know about mideast is people there are very hospitable people they like to treat people well, they are strong about networking and family ties.
my friend from Jordan is from the yagi family he teached me a lot and a good question is why wold you go to a club in first place? good time with your friends? meeting a girl? this all is the consumer point of view.
how would a producer think as far i know well first its all about network you have to bring in the heads of the groups to your place you compansate them with free drinks, vip passes and more, its also about status thats why high prices its not a dumb its designed to divide people by the pockets, people whant privacy thats why rich and famous people go to expensive places like french riviera, Monte Carlo privacy.
Back in the hospitality you have a person you whant to make business whould you offer the cheapest everything? hell no you will give the best service, food, drinks and why not the best club in the town and i think the guy who spent that money for sure will make a few millionsand keep the relationship he built comparing with millions if not billions its cheap. Alcool is like a universal mens language thats why it works in asia, europe, americas and even africa treat well your guests.
there is a saying the resulmes all this well If you whant to fly with the eagles dont swim with the ducks.

thank you

 

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[77startup]

Hmm looking back at this I still can't see how someone could insult their own potential customers. The very thought is akin to punching yourself in the face for me.

 

[dubaismartmoney]

@kirrubi


You got it right, you could see it with the right perspective , the one of the owner of a biz


when u look at something you can see it as a poor people or a rich people

this is basic for anyone trying to go for the fastlane or escaping the rat race...

you need to look at things thinking, ok how much money will this produce for me in cashflow, whats the ROI, etc.

when a Vc, biz angel , or investor look at something (a true fastlaner) he is looking for how much money he can make with something, and of course not how he can impress people with is 100k bill or fastcar!!!!

Try to talk with someone thats a good investor, lets say one of the richest men in the world : warren buffet!

tell him what he thinks about paying 20xs a value of something and then complaing about how expensive that thing is.....

this is new rich kind of mentally , 1º buying that forsaken expensive ferrari 2º complaining about how much it cost to keep fuel it...

So i dont give a them about alcool in our society, about all the extravagant try hard examples, 1+1= 2

facts are facts and 20xs the value of something and then have the nervs to complaing is very dumb!!!!

on the other hand, being the one that benefits from the situation is smart.


An for the record , I do think people should buy expensive stuff , spend tons of money in whatever they want

what i care as a fastlaner or investor is the ROI of the proposition (BIZ)


and its a incredible waste of time trying to argue with people that say that 1+1 is not 2... or coming up with all the excusses in the world, about someone moaning about spending 100k on a night out is actually smart...
giving the fact that , that someone is complaing about .

NEXT!

 

[biophase]

I spent $10 on a can of Coke once. I guess that was stupid.

I still don't understand the point of this thread. You say it's about the ROI of businesses but your post title is totally insulting the businesses' clientele.

I don't think the people on this forum are stupid, yet I've bet that some have paid $1000 for bottle service at some point in their lives.

If your understanding of making money is to attract stupid rich people I don't think you will get very far.

 

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[Vigilante]

I showed this to my son, and got the exact reaction I was hopeful for.

Rather than him saying that was stupid, he said "that's the type of money we need to get to..."

Winners win.

I am not going to be one of the guys that cannot cover the $100k bar tab that wants to armchair the intelligence of the guy who can.

Moreso, I want to get into position to cover the tab.

 

[DeletedUser394]

I showed this to my son, and got the exact reaction I was hopeful for.

Rather than him saying that was stupid, he said "that's the type of money we need to get to..."

Winners win.

I am not going to be one of the guys that cannot cover the $100k bar tab that wants to armchair the intelligence of the guy who can.

Moreso, I want to get into position to cover the tab.

AMEN!! hallelujah! hahaha

 

[oddball]

I spent $10 on a can of Coke once. I guess that was stupid.

I still don't understand the point of this thread. You say it's about the ROI of businesses but your post title is totally insulting the businesses' clientele.

I don't think the people on this forum are stupid, yet I've bet that some have paid $1000 for bottle service at some point in their lives.

If your understanding of making money is to attract stupid rich people I don't think you will get very far.

I agree.
The OP has an attitude that he is better then people it seems like. From the title alone, no matter what biz he had, I would never want to be a customer. After reading, I understand his points a bit but still, his attitude is piss poor. If a person with money wants to spend it that way, whatever...be the guy getting the biz but don't call the clientele dumb,

 

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[Rickson9]

i owned a club and bottle service was a huge money maker for us. Depending on the night and whats going on a bottle gonna cost you $150 to $1000. And we paid 20 or so for it.

Suckers trying to impress their friends or impress the girls. We also sold cigars with 500 or 1000 percent margins. People love to show off and it was wonderful for me.

Status purchases are very profitable. The ego is too powerful to deny.

 

[911Carrera]

Why are we arguing about the cheapest thing on that tab? The coke is not an issue at all. When you got to a venue you're expected to pay 5-10X the value of liquor. The issue is the other things on that tab and the total.

I don't care how you put it, it's ridiculous to run up a tab like that a club in one night unless you didn't work hard for your money. Anyone who worked hard for their money will not do this.

A good example of wasting money you didn't earn is Tiger's wife. That bitch bought a 12million house and demolished the thing. If she earned her money, she would never do that.... But she got it from her famous husband so it's all good. Same with oil rich dudes with old money.

Entertainers do this too, I personally know rappers who ran up 200k tabs when they weren't even real millionaires. Take my word for it, it's pretty fcking stupid.

 

[biophase]

Why are we arguing about the cheapest thing on that tab? The coke is not an issue at all. When you got to a venue you're expected to pay 5-10X the value of liquor. The issue is the other things on that tab and the total.

I don't care how you put it, it's ridiculous to run up a tab like that a club in one night unless you didn't work hard for your money. Anyone who worked hard for their money will not do this.

Entertainers do this too, I personally know rappers who ran up 200k tabs when they weren't even real millionaires. Take my word for it, it's pretty fcking stupid.

Ah, so your issue is the actual magnitude of the bill. It doesn't matter if things are marked up 5-10x as long as the bill stays under an amount that you are comfortable with.

You have a problem with the number of zeros in the bill because you cannot comprehend spending that amount of money. Let me ask you this, where is your number for the bill to become non-fcking stupid?

 

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[SeattleSunnyDay]

I showed this to my son, and got the exact reaction I was hopeful for.

Rather than him saying that was stupid, he said "that's the type of money we need to get to..."

This is the reaction I will teach my children!!! Give him a pat on the back, 100 bucks and tell him to go make millions because with that attitude he will surely achieve! Good job!

 

[911Carrera]

Ah, so your issue is the actual magnitude of the bill. It doesn't matter if things are marked up 5-10x as long as the bill stays under an amount that you are comfortable with.

You have a problem with the number of zeros in the bill because you cannot comprehend spending that amount of money. Let me ask you this, where is your number for the bill to become non-fcking stupid?

That's an irrelevant question. I have no problem with paying 5x-10x for stuff at a bar because it's how clubs and bars work. Why would I have a problem with that? It's not being comfortable with an amount. This comment doesn't even make sense to me. Do you have a problem paying for bottle water? You are paying for something tha's free. Would you have problem dropping 400k on water that's aged and bottled even though it's all water to show off and impress?



And to anyone saying that they might entertaining a client. Give me a break.

 

[biophase]

That's an irrelevant question. I have no problem with paying 5x-10x for stuff at a bar because it's how clubs and bars work. Why would I have a problem with that? It's not being comfortable with an amount. This comment doesn't even make sense to me. Do you have a problem paying for bottle water? You are paying for something tha's free. Would you have problem dropping 400k on water that's aged and bottled even though it's all water to show off and impress?

And to anyone saying that they might entertaining a client. Give me a break.

You state that your issue is the other things on that tab and the total. You are saying that dropping $400k is stupid. So I'm asking you at what amount would it be ok?

I personally would not spend $400k on water. But if there was someone doing it next to me, I would not think that the person was stupid.

 

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[911Carrera]

You state that your issue is the other things on that tab and the total. You are saying that dropping $400k is stupid. So I'm asking you at what amount would it be ok?

I personally would not spend $400k on water. But if there was someone doing it next to me, I would not think that the person was stupid.

Listen, you don't have to agree with me. Giving you an amount is really irrelevant if you really understand my point of view.
I personally don't do bottle service. I get comped admission at many venues and free bottles. The only time I do bottles is when they're comped. I've seen this stuff many times. Anybody dropping that much in a club is an idiot and they usually behave like one in the club. These are the same guys who wine and dine bimbos they bring home from the club and get heart broken when they find out she's screwing 5 other dudes.

 

[jfub]

Playing devil's advocate here - What if the person that payed the 400k bill was wining and dining a potential client and ended up signing a 3m deal with him. Would he still be dumb for spending the 400k to get the 3m? :smug2:


Edit: Looks like 77startup beat me to saying the same thing.

Agreed.

"Dumb rich" is borderline oxymoronic..

HOWEVER.. theres that whole "inheritance" phenomena......

 

[biophase]

Listen, you don't have to agree with me. Giving you an amount is really irrelevant if you really understand my point of view.
I personally don't do bottle service. I get comped admission at many venues and free bottles. The only time I do bottles is when they're comped. I've seen this stuff many times. Anybody dropping that much in a club is an idiot and they usually behave like one in the club. These are the same guys who wine and dine bimbos they bring home from the club and get heart broken when they find out she's screwing 5 other dudes.

I understand that we won't agree. But it's your view point I don't understand. You keep saying that an amount is irrelevant. But then you make a statement that "Anybody dropping that much in a club is an idiot and they usually behave like one in the club." By saying "that much" implies that there is an amount that you believe makes them an idiot.

I am trying to understand the context of why you think that person would be an idiot. I believe it is because you think that $400k is alot of money and I am saying that it is alot of money for most people, but for some people it is not. That's why I don't understand how you can make such a broad statement in general.

By your statement, if the late Steve Jobs drops $400k at a club, he would be an idiot. Would you still stand behind your statement if you were looking at his bill?

 

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[FastNAwesome]

i owned a club and bottle service was a huge money maker for us. Depending on the night and whats going on a bottle gonna cost you $150 to $1000. And we paid 20 or so for it.

Suckers trying to impress their friends or impress the girls. We also sold cigars with 500 or 1000 percent margins. People love to show off and it was wonderful for me.

Speed++

I think this is what the whole tread was supposed to be about - great opportunity, great margins.

I see this all the time in the clubs, proximity of hot girls can temporarily shut down rationality

 

[SlimTycoon]

$105,629.00 usd