How People Get Rich Now

Post by kqr » Tue, Apr 13, 2021, 5:58 AM UTC

tjs8rj wrote: post #833

benzor wrote: post #324

There's some nuggets of truth in here, but I am disappointed that this article sidesteps what I feel is the most important reason for startup success in 2020: easy and abundant access to cheap capital. - Interest rates are at all time lows, borrowing is cheap - The Fed's balance sheet is at an all-time high. The economy is flush with cash, particularly the investor / VC class - This excess cash creates an (arguably a…

Netflix and Airbnb are profitable, and as far as I can tell the others could be profitable but aren’t because they want to stay huge / have the capital access to do so. When you have unlimited money pouring in, whats the point of profit other than a checkbox for wall street? You can pay everyone their wages, compete fiercely, grow like crazy, and so on. Profit is just inefficiency - we don’t have a use for this money…

Post by known » Tue, Apr 13, 2021, 6:07 AM UTC

Post by isabelc » Tue, Apr 13, 2021, 6:17 AM UTC

jefftk wrote: post #512

purple_ferret wrote: post #95

>So it's not 2020 that's the anomaly here, but 1982. The real question is why so few people had gotten rich from starting companies in 1982...a wave of consolidation was sweeping through the American economy Microsoft, Oracle, Apple, Bloomberg, etc were all started in the late 70's/ early 80's. Their founders are the richest people in the world. Seems like the question he's asking, though, is why weren't they obscene…

> Microsoft, Oracle, Apple, Bloomberg, etc were all started in the late 70's/ early 80's. Their founders are the richest people in the world. How are they the richest? Per https://www.forbes.com/real-time-billionaires/ Gates is #4, Ellison is #7, and Apple/Bloomberg/etc are lower. Above Gates are the founders of the much later Amazon and Tesla (then there's FB, Google, etc)

Post by arvinsim » Tue, Apr 13, 2021, 6:30 AM UTC

shlep21 wrote: post #758

adwn wrote: post #577

Earlier quoted context omitted.

> Hm? That paragraph is accurate. No, the assumptions in it are ridiculous in context: 1) "You could probably work twice as many hours as a corporate employee" : Okay, maybe you can "work" 80 hours a week, as in "be in the office 80 hours per week". 2) "if you focus you can probably get three times as much done in an hour" : No. You can't stay focused for 11.5 hours a day, especially not 7 days in a row, especially e…

No. You can't stay focused for 11.5 hours a day, especially not 7 days in a row, especially especially not week after week after week. I'm a former software engineer. The best engineers absolutely, genuinely can work very long hours and remain productive. 80 hrs/week might be a bit high, but 65 hours a week at 3x average-programmer-productivity is definitely something that exists in the real world, and although it is…

Post by ashtonkem » Tue, Apr 13, 2021, 6:33 AM UTC

purple_ferret wrote: post #95

>So it's not 2020 that's the anomaly here, but 1982. The real question is why so few people had gotten rich from starting companies in 1982...a wave of consolidation was sweeping through the American economy Microsoft, Oracle, Apple, Bloomberg, etc were all started in the late 70's/ early 80's. Their founders are the richest people in the world. Seems like the question he's asking, though, is why weren't they obscene…