Earlier quoted context omitted.
how do you not get arrested after publicly admitting you did something illegal?
Look up the statute of limitations.
His time frame is 3 years, not 7
Ask HN: How to become a millionaire in 3 years?
101–110 of 147 posts
Re: Ask HN: How to become a millionaire in 3 years?
#102Wall street is the only way. If money is the goal, then LEVERAGE is important. The highest leverage given to a mans brain today is the Wall Street. In every other endeavor you have to personally do a lot of things right to even dream of the same leverage.
But I guess, if u get the other things(Jason covers all of the things that I can come up with) maybe technology offers a similar leverage.
Re: Ask HN: How to become a millionaire in 3 years?
#103Earlier quoted context omitted.
Visited the Gulf of Mexico lately?
Which brings up something I was wondering about. BP is compensating Americans. Are they compensating Mexicans, Guatemalans, etc...
From the maps I've seen (e.x. http://www.google.com/crisisresponse/oilspill/) it doesn't look like the spill is anywhere near any country except the US yet.
Re: Ask HN: How to become a millionaire in 3 years?
#104Find something in one field and apply it to another.
Disciplines tend to put up barriers to knowledge flowing in from other disciplines, if you are 'cross domain' you can easily capitalize on that.
Becoming a millionaire in three years seems 'doable', after all it's only 300K per year or thereabouts, that's a little over $900 per day. You have to factor in taxes though, and that's where the catch is.
Re: Ask HN: How to become a millionaire in 3 years?
#105Earlier quoted context omitted.
2. And then a miracle happens.
Really? No one's seen this? http://blog.stackoverflow.com/wp-content/uploads/then-a-mira... I'm not positive on this, but I think my comment's parent was actually referencing it.
No, this looks like the Underpants Gnomes formulation.
Re: Ask HN: How to become a millionaire in 3 years?
#106Move to Zimbabwe.
This was a brilliant idea but unfortunately they no longer use Zimbabwean Dollar anymore, instead the economy has fully moved to USD (now they are legally allowed to do so).. Previously you would get paid in billions.. Zimbabwe's $100 billion banknote could buy you 3 eggs on its release date.
Ah, too bad :-)
Re: Ask HN: How to become a millionaire in 3 years?
#107go trading -> go prop trading
Re: Ask HN: How to become a millionaire in 3 years?
#108I'm going to go and replace 3 years with a "short time frame". Some things to focus on: - Market opportunity- a million dollars isn't a lot in the grand scheme of things, but it certainly is a lot if the market opportunity is not large enough. Even if you put Bill Gates and Steve Jobs as founders in a new venture with a total market size of 10 million, there is no way they could become too wealthy without completely…
Superb list.
Can I ask, which points are borne out of personal experience, and which points are advice from others? i would love to read some of your sources of information. Even if I have read them already, it would be good to re-read em :)
Re: Ask HN: How to become a millionaire in 3 years?
#109Earlier quoted context omitted.
That point could really be a post all by itself and it certainly varies situation to situation. Semantics + defining "what's a trend" also play into it. There's mass market everybody knows about it trends and then there's emerging trends. The mass market trends ones are the ones to avoid like you said. The good thing is what you said: market exists. There's money there, just make sure it isn't all taken up already.
Another lucrative possibility in trends is stagnation. The market very often has been there quite a while with major players in it that are concentrating on monetizing their current offerings while being completely blind to the fact that new possibilities are now available. This tends to happen to startups that have "matured", generally replaced all their leadership and now have very little internal vision. If you ca…
Tullow Oil is a great example of this.
They take over oil fields after the big oil giants want to abandon the well and usually manage to squeeze more out of the well in a more efficient and environmentally-friendly manner. Their profits are generated primarily in Africa, and they also work better with local officials than the big players do.
http://www.businessweek.com/magazine/content/05_13/b3926075_...
Maybe BP should contact them and hand over the Gulf mess to them :)
Re: Ask HN: How to become a millionaire in 3 years?
#110Make enough money so you can save $333,333.34 each year.
It doesn't have to be $333,333.34 if you know how to invest. Or pick a high-interest savings account if you don't :)