41–50 of 527 posts
I’m going to take a contrarian view and say: figure out why you want to be rich, first. For most people, money is a proxy for respect, status, power, security, social skills, romantic attraction from others, free time, or otherwise. If you can ignore the constant “only rich people are meaningful human beings” message that is blared 24/7 from western culture, you might find that it’s easier to just go after what you w…
I know very few people that got rich without getting lucky and none of them would have been rich if they had followed this list. The majority of them simply went into finance, consulting or real estate at a young age and invested their income smartly (retrospectively!). After the first million rolls in if you're young enough compound returns will take care of the rest if you can postpone altering your life-style.
But one important part of their success was to invest their income. I know too many people that use their money to consume. Investing early in your life is what makes the difference. It's very easy to spend it on little things and claim to not have anything to invest.
All those dumb poor people wasting their money on food.
"Wealth is having assets that earn while you sleep." If you are earning wealth while you sleep, it must be coming from somewhere. Either it is illusory (eg interest, which is cancelled by inflation), or it is being generated by other people working. "Understand that ethical wealth creation is possible." Thus, this statement is dubious in the context of "wealth while you sleep".
Would you consider people who work for you unethical, then?
I’m going to take a contrarian view and say: figure out why you want to be rich, first. For most people, money is a proxy for respect, status, power, security, social skills, romantic attraction from others, free time, or otherwise. If you can ignore the constant “only rich people are meaningful human beings” message that is blared 24/7 from western culture, you might find that it’s easier to just go after what you w…
Great ideas on power, money and influence but you really need to be lucky as well ;)
Earlier quoted context omitted.
This article was "how to get rich without getting lucky", of course those things weren't in it.
That is the premise behind those points and the ones raised by the op: Luck is never part of the equation, just ask your average rich guy from rich families.
If you're asking how to get rich at all, then getting lucky is a valid strategy.
This article is about the former.
I’m going to take a contrarian view and say: figure out why you want to be rich, first. For most people, money is a proxy for respect, status, power, security, social skills, romantic attraction from others, free time, or otherwise. If you can ignore the constant “only rich people are meaningful human beings” message that is blared 24/7 from western culture, you might find that it’s easier to just go after what you w…
I think he hints at this at the very end.
I’m going to take a contrarian view and say: figure out why you want to be rich, first. For most people, money is a proxy for respect, status, power, security, social skills, romantic attraction from others, free time, or otherwise. If you can ignore the constant “only rich people are meaningful human beings” message that is blared 24/7 from western culture, you might find that it’s easier to just go after what you w…
How does money get you social skills?
Interestingly, in this same way, money can also buy happiness, through happiness coaching. :)
Earlier quoted context omitted.
This article was "how to get rich without getting lucky", of course those things weren't in it.
That is the premise behind those points and the ones raised by the op: Luck is never part of the equation, just ask your average rich guy from rich families.
Assuming you meant something else, most rich people in America are first generation rich. Of course, growing up here in a middle class or upper middle class household didn’t hurt, but they’re not rich because someone dumped $5mm in their bank account when they turned 18.
Earlier quoted context omitted.
Not all VCs are created equal. We work for quite a few of them and the range of knowledge, connections, personalities, founder friendliness and ethics is quite broad. As a result of that there are VCs that you really don't want to have anything to do with and VCs that it is a pleasure to work with and that go to bat for the founders of the portfolio companies they've invested in with great regularity.
Interesting. I wonder, is there something like a Yelp/Glassdoor for VCs? A site where people can post about their experiences with VCs, how they were helpful (Like you mentioned, some VC may be great for retail tech while others for moonshot ventures), where they were unhelpful. How hands on or hands off the approach they took was, how much they look at investing as a culture of growth rather than a business (both ar…
("we", me and the team of people that I work with).
Because it is a very small world and we're not the (by far) the strongest party in it a negative advice is something I would not do unless there is public evidence that a VC can not be trusted or is unethical.