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Discussion in 'General Entrepreneur Discussion' started by ApparentHorizon, Jul 20, 2018.

  1. ApparentHorizon
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    ApparentHorizon Gold Contributor Speedway Pass

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    quick and dirty calculations and musings... (someone double check the math lol)

    Every day $50 Billion dollars exchanges hands as a result of Goods and Services provided, in the US.

    Every day $300 Billion dollars is transacted on the stock exchange, in the US.

    GWP (Gross World Product) is nearly $80T yearly. $200B/day

    80T divided up to 7 billion people is $11,500

    (Your chance of being one of the 7 billion (aka being born), is 1 in 400,000,000,000,000 (Trillion))

    The total wealth of the world is $280T

    280T divided up to 7 billion people is $40,000

    To be in the top 1% of the world, your income is $32,000/year

    To be 1% in the US, you need $400,000/year, which 18 million Americans fall into

    There are 36 million, millionaires in the world

    15.5 million of those can go to their bank, and withdraw at least $1M

    Out of 233 countries in the world, 195, have a population less than 36M

    This is what 1 million people looks like (supposedly)

    [​IMG]

    This is your life in weeks...

    [​IMG]

    The real currency is your time

    Money is a commodity

    And you can create it out of thin air

    You can create wealth out of thin air

    People give other people money just to speak

    People give other people money just to stand

    People give other people money for rocks

    You can use money to make money

    How to make $1,000,000:

    5,000 people buy a $200 product
    2,000 people buy a $500 product
    1,000 people buy a $1,000 product
    500 people buy a $2,000 product
    300 people buy a $3,333 product
    200 people buy a $5,000 product
    100 people buy a $10,000 product
    50 people buy a $20,000 product
    25 people buy a $40,000 product
    5 people buy a $200,000 product
     
  2. Will-v-the-World
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    Will-v-the-World Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Wow, the average person spends the first 55 or so years of their life doing things they don’t like.

    Once they’re “free”, they have 10 years of life left to sit in their house and rot because they’re too unhealthy to do anything else...

    Thanks for the motivation booster.
     
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  3. sparechange
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    sparechange Gold Contributor Speedway Pass

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    80 trillion a year...

    I cant even process how much money that is

    Changing locations can help your perception aswell, In Vancouver if you go around the west end across the water or kitsilano/spanish banks thats where all the wealthiest people in Canada are, now that I'm in Calgary for a bit there is only the middle class (lower class/poverty)

    If you google wealthiest areas near you, I suggest to go for a walk around if you ever need some extra motivation.

    Similar to Hollywood (everything's at the top of a mountain)

    ayeee.JPG
     
    Last edited: Jul 20, 2018
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  4. ApparentHorizon
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    ApparentHorizon Gold Contributor Speedway Pass

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    0.00001% of 80 trillion = $8M...not that this means anything either

    There's more money in the world than people know what to do with it.

    Bill Gates literally cannot spend and give away his money fast enough

    [​IMG]

    It's all a bunch of gears spinning to make the whole thing work.

    Some fall out

    Some rust and break

    Some get pushed out by other cogs

    Some find places where they can place their cog and it all just keep spinning.

    But there's something we can't see. There are like what I can only describe as hamsters running inside each one.

    It's difficult to see the other gears when they're all paralleled to you. You may see a couple left and right, but then it all blends in.

    A fish can't see the vast ocean when it's swimming in it.

    A lot of these places in the US are gated

    I've been to some estates near Charlotte.

    upload_2018-7-20_20-3-15.png

    The amount of land around these places is absurd (in a good way)

    Lake with boats + mansion + "guest house" aka, a normal house + meadow with horses + private forest for hunting.

    There's more money in the world than people know what to do with...
     
  5. sparechange
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    sparechange Gold Contributor Speedway Pass

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    When I was in Miami for a couple weeks good ol spare change snuck into a gated area in FT Lauderdale? lmao went to an open house in a 10m mansion (pretended to be a buyer)

    20 minutes away was the Ghetto where I was actually scared to be in, white guy in a black neighborhood outside of McDonald's in the middle of the night....being stared at the whole time
     
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  6. smark
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    smark Bronze Contributor Speedway Pass

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    This is one of the things I've been trying to get my head around lately and although I do understand it, I believe my age (21) is not "allowing me" to fully grasp it and keep it in mind on a daily basis.

    Great post @ApparentHorizon! It really does a great job in giving us younger guys some perception on what truly matters and how the world operates.
     
  7. ApparentHorizon
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    ApparentHorizon Gold Contributor Speedway Pass

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    I'm barely a few years older than you ;)

    21 is the best age. It's when, in the US, you're legally allowed to drink. Afterwards there's no significant age milestone to look forward to.

    So I stopped counting

    I didn't grasp it until I actually made significant money.

    It's like being hit by a car.

    We know what it feels like to be hit by a car door. Then we're told it's 100x that.

    We can logically rationalize it, and repeat it.

    But we don't actually understand it.
     
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  8. smark
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    smark Bronze Contributor Speedway Pass

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    Hahahah I did not see that coming.

    I always find it inspiring seeing young people who have achieved great wealth and knowledge (among other things). You sir have my absolute respect.

    I totally agree with you that some things cannot be understood until they are actually lived. Looking forward to being in your place in a few years.
     
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  9. Late Bloomer
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    Late Bloomer Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Close enough for inspirational purposes...
    What almost any of us would think is fabulous wealth beyond our greatest dreams, is a drop in the bucket compared to what already exists and what already is changing hands daily.

    That's the #1 reason for getting hit by a car...
     
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  10. ApparentHorizon
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    ApparentHorizon Gold Contributor Speedway Pass

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    And you can learn how acquire it...

    If we can learn physics, why can't we learn to make money?

    If we can learn philosophy why can't we learn to make money?

    If we can learn to paint why can't we learn to make money?

    I'd put "making money" as a field. With it's own fundamental skills necessary to achieve success.

    - Communication
    - Persuasion
    - Simple arithmetic
    - Problem solving

    Each of these are classes/skills you can learn at a university, but you for some reason they don't tie in once you get the diploma.

    You don't have to be smart to do any of these things either. While IQ is a predictor of success, it's far from the defining factor.

    The "smartest man in the world" has an IQ of 200, and works as a bouncer.
     
  11. Late Bloomer
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    Late Bloomer Gold Contributor Read Millionaire Fastlane Speedway Pass

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    I totally agree and that's the primary reason I'm here. "If you're so smart, why aren't you rich?" Because for decades, I've focused on being smart about things other than being rich. Such as developing a meaningful philosophy of life, and improving artistic and technical skills, and finding someone to love enough to want to share life togehter, and dealing with grief and cancer.

    Because of coincidentally missed opportunities, misinformation from others, genuinely random misfortune, and some personal mistakes along the way, I wound up with a life that was very imbalanced when it came to the area of making money. So, that's my main focus to learn now.

    Being smart in general should make it a little faster to absorb some basic info and to spot connections. We may or may not be able to boost our level of overall smarts. But, having the skills to be smart about in the first place... that's a matter of education, and we can all become better educated about these things.
     
  12. smark
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    smark Bronze Contributor Speedway Pass

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    Fully agree with everything said so far.

    Something I've found just from personal experience, (regular) people are clueless on how to make significant money without a job/career.

    Their answer to everything is always "be born rich" or "be lucky," something along those lines.
     
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  13. Late Bloomer
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    Late Bloomer Gold Contributor Read Millionaire Fastlane Speedway Pass

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    That's one of the few things where I really like Robert Kiyosaki's approach, and MJ discussed this too: without way above talent at a specific skill that thrills the millions, and without a chance to marry into millions, what are the choices? One can work up to a high level in someone else's business. Or, invest (if you have enough to start with) in someone else's business, but as MJ points out if you start with thousands to invest in stocks and bonds at 5%, it takes too many decades for those investments to become millions. Or, you can build your own business.

    Personally I wish all the class time spent on quadratic equations had been spent on how to find a need and market its fulfillment. I can't recall a single time I've ever actually had to solve a quadratic equation after graduation. But knowing how to build a business would've transformed my life a dozen times over, if I'd graduated with that knowledge base.
     
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  14. smark
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    smark Bronze Contributor Speedway Pass

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    I would name the above quote: "The current problems with the educational system summed up in three sentences." Nicely done!
     
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  15. ApparentHorizon
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    ApparentHorizon Gold Contributor Speedway Pass

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    If you observe the way affluent people raise their kids, they include all of the above. However, the order in which they get taught is different.

    Intelligence is relative.

    The premise of evolutionary biology is that you have to be, "smart enough." (Well, they put it as, attractive enough, for mating.)

    Dan Pena in his program goes off on "smart people" and engineers. They think too much. "Here's a roadmap. Follow it to the T and you'll make multiples of millions."

    Warren Buffett says, all you need is an IQ of 130. Anything else you give away.

    Which is pretty much in line with the most successful group of people on the planet. Ashkenazi Jews.

    On average, they're 15 IQ points higher than the rest. With a disproportionate Nobel Prize rate. (Culture plays a huge role in it as well.)

    15 points is the difference between a High School and College student.

    If the rest of the population sits at ~100, college at 115, so 130 is pretty much on point.

    So what is intelligence really? Well obviously if you're incapable of tying your shoes, you might be retarded (in the literal sense).

    - The ability to reconcile facts? I think we're all in agreement that's not the top priority.
    - The ability to solve puzzles / problems? Maybe. But you can just keep guessing, and eventually you may get the right answer. AI programs are already doing that, while at the same time, scientists are still calling them dumber than a cockroach.
    - Creativity? Well, how do you even quantify this?
    - Self awareness? A big part IMO.

    The best explanation I like is, the ability to recognize patterns. When we store info in our brains, this is what we really see:

    [​IMG]
    And you increase your ability to recognize patterns, by acquiring new info. Reading and experiencing as many new concepts as you can.

    The more you learn, the higher the chance you have to make a never before made connection.

    That's what a lot of successful and creative people do. They draw the line between 2 seemingly unrelated ideas.

    If you look at an IQ test, it's all about pattern recognition. High IQ allows you to hold and draw the line between larger and more complex patterns.

    Take for example, a beginning question:

    [​IMG]

    And one for the ending...

    [​IMG]
     
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