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How to get rich without getting lucky (2018)

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Re: How to get rich without getting lucky (2018)

#161

Post by drjesusphd »

elcomet wrote: post #121

Wow, I just discovered I'm rich according to his definition. > The reason you want wealth is because it buys you your freedom. So, you don’t have to wear a tie like a collar around your neck. So, you don’t have to wake up at 7:00 AM, and rush to work, and sit in commute traffic. So, you don’t have to waste away your entire life grinding all your productive hours away into a soulless job that doesn’t fulfill you. I'm…

My thoughts exactly. I used to have a relatively high paying rock-stable job that enabled me to plan for an early retirement.

Then I made the "mistake" of thinking about what I would do after said retirement. Then thought, why not do that now, when Im still young? So off to grad school I went.

Re: How to get rich without getting lucky (2018)

#162

Post by anthonypasq »

n4r9 wrote: post #145
temp129038 wrote: post #36

I listened to the Rogan podcast and was definitely confused by some of the arguments he makes e.g. he claimed the celebrities are the "most miserable people in the world" because they get a disproportionate amount of hate directed toward them due to their status as public figures (or something). I don't believe that for a minute. I was also a bit surprised by the discussion around questioning the truth behind climate…

I can easily believe that about celebrities. Wouldn't be at all surprised if the rate of mental health issues is much higher than average in celebrities.

probably more likely that only mentally ill people become celebrities.

normal people dont reach the .00001% of society

Re: How to get rich without getting lucky (2018)

#163

Post by sombremesa »

darkmighty wrote: post #14

> - Earn as much as you can from your own work. Take a 2nd job, change to a higher paying job, ask for more responsibility and a raise at your current job, go back to school for a more lucrative degree, ... I think that's a much better advice than any I found from a cursory read of the article; at least with my limited experience with friends. Most of my acquaitances doesn't seem sufficiently agressive with salaries…

An interesting counterpoint is that I've purposefully relinquished responsibility (read: stress) at my job and I'm paid less than I could be as a result. I've done this because I'd rather use my time and energy to work on my own business.

The abundance of contradictory points indicates that things aren't really cut and dry in any sense and this advice boils down to the same thing all advice boils down to: YMMV.

Re: How to get rich without getting lucky (2018)

#164

Post by somatic »

fallingfrog wrote: post #44

In other words, own productive capital and live off the rent it generates. Personally I think such capital should be owned by the workers at a business so that they don’t have parasitic individuals like the author to support. It’s nice for you if you have a lot of wealth and don’t have to work, but the rest of us pay the price of that, and only a tiny slice of society can ever live that way, for obvious reasons.

All freedom is a relative proposition.

Re: How to get rich without getting lucky (2018)

#165

Post by NetOpWibby »

motohagiography wrote: post #56

Saw him for the first time today on Joe Rogan, I've never seen my own ways of thinking reflected so completely in one place. I think he's wrong on the danger of AI, only because his case seems predicated on AI replicating a human mind and that ML is limited to tightly bounded problems - whereas it overlooks that causing extinction level events or facilitating global slavery are also bounded problems. Looking forward…

Nice, gonna watch his interview now.

Re: How to get rich without getting lucky (2018)

#166

Post by somatic »

cryptica wrote: post #109
0x8BADF00D wrote: post #102

Earlier quoted context omitted.

> And yes, investing in a useless startup is not real investing; it's consumption; the real purpose of most startups is to bring pleasure to a rich person and their friends when the startup gets acquired, not to serve society. And yet it is the very same startups that have improved your standard of living exponentially where luxuries reserved for the rich like private chauffeur (Uber/Lyft), matchmaking (Tinder/OkCupi…

Except that I don't care about Uber, Tinder, or AirBnb. I would happily pay more for regular Taxi and regular Hotels if only I could afford what I really want; to live in my own house in a place I actually want to live in. Now because of the job market, I am forced to live to a big city where all the rich people have their toy startups and houses are too expensive. As a software engineer, I'm just an entertainer for…

>As a software engineer, I'm just an entertainer for rich people.

What do you mean by this?

Re: How to get rich without getting lucky (2018)

#167

Post by Reedx »

TheOtherHobbes wrote: post #128
undefined1 wrote: post #120

Earlier quoted context omitted.

He actually made that point on Rogan's podcast, referencing Nassim Taleb: "I am, at the Fed level, libertarian; at the state level, Republican; at the local level, Democrat; and at the family and friends level, a socialist."

Unfortunately that's self-serving nonsense. You're either context-aware or you're not. If you're trying to cherry pick the levels at which you're context-aware, it means you're not context-aware at all. The more complex social contexts don't stop operating just because you don't believe in them.

He's literally saying it depends on the context. That's the definition of being context-aware.

Re: How to get rich without getting lucky (2018)

#168

Post by kjsbfkjbf »

EliRivers wrote: post #135
csomar wrote: post #133

> We are the only animals in the animal kingdom that cooperate across genetic boundaries. Most animals don’t even cooperate. But when they do, they cooperate only in packs where they co-evolve together, and they share blood, so they have some shared interests. Pretty certain that lots of animals co-operate. Dogs and Cats are two examples. Dogs will "take care" of your babies. (not changing diapers but primitive prote…

Pretty certain that lots of animals co-operate. Oh yes, lots. Here are some really interesting ones betweens species. https://listverse.com/2015/02/23/10-amazing-cooperations-bet... There are many more. As for cooperation "across genetic boundaries" within a species, I can think of lots without even having to search. Vampire bats sharing blood with unlucky fellow bats who didn't find anything comes to mind. It seems…

Almost invariably capitalists try to define capitalism as being intrinsic to "human nature" or "society", and are always wrong. If you read the higher upvoted comments -- that statement is believed and taken at face value.

If you have to take the time to defend that your accumulation of material wealth is ethical when there are millions of people dying from a lack of resources... I don't know what to say. I just hope HN grows to stop believing the obvious lies.

Re: How to get rich without getting lucky (2018)

#169

Post by kjsbfkjbf »

xorfish wrote: post #151
tomhoward wrote: post #117

Earlier quoted context omitted.

Well yes, buying stock, sure - though a small shareholding in a mature stock is not going to get you very far. But a significant shareholding in a small-medium business that provides a valuable product/service and ends up generating steady cash flows over the long term seems like the optimal approach in terms of risk/reward, and is something that a lot of people in the world could figure out how to do if they put the…

> though a small shareholding in a mature stock is not going to get you very far. Sp500 Average real return is 6.5% per year. So If you invest $1'000 per month, you will be a millionaire in today dollars in 30 years with just over 1.1 Million Dollars That is a save income of around $38'500 per year.

You're talking about a save income that's above/around many people's gross.

Re: How to get rich without getting lucky (2018)

#170

Post by rc_hadoken »

gnicholas wrote: post #65
busymom0 wrote: post #8

> Study microeconomics, game theory, psychology, persuasion, ethics, mathematics, and computers. Anyone have any book recommendations for these? Any favorites?

Game Theory: The Strategy of Conflict, by Schelling. Microeconomics is useful, but behavioral economics would be where I'd spend more time. It's a cross between econ and psych.

Games People Play by Eric Berne MD
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