Why don't rich people do more awesome things? • Hacker News Board

Re: Why don't rich people do more awesome things?

#41

Post by peteforde » Sat, Jun 25, 2011, 5:08 AM UTC

javadev wrote: post #38

peteforde wrote: post #24

Earlier quoted context omitted.

I am the OP, and I'm not rich. BuzzData is designed to be useful and profitable in equal quantities. It must succeed at making money in order to continue being useful to people. If we work hard and stay focused on making something that people would be upset to lose, then I will become wealthy as a side-effect. I plan to use my wealth to become an angel investor, which is something I can't do unless I change my curren…

"I plan to use my wealth to become an angel investor..." There's an old saying about counting your chickens before they're hatched.

I certainly don't plan to fail, if that's what you mean. :)

Re: Why don't rich people do more awesome things?

#42

Post by teyc » Sat, Jun 25, 2011, 5:23 AM UTC

The purpose of working hard to become wealthy is to earn some measure of freedom to do things they'd enjoy doing. Owning real estate may not necessarily make sense. It can be a rather time consuming affair, which drains the wealthy of their most precious asset.

It is the same with start ups. You can't throw money at things and hope they work out. That'd be called government. It takes real effort, and there's a physical limit to the number of "office hours" a wealthy entrepreneur is willing to run before it starts to sound like work.

Re: Why don't rich people do more awesome things?

#43

Post by Unseelie » Sat, Jun 25, 2011, 5:30 AM UTC

demian wrote: post #31

chernevik wrote: post #21

Earlier quoted context omitted.

Dude. If you cure AIDS, I DO NOT CARE why you did it. God may care, you may care, and that's all very important. Seriously. But me, I DO NOT CARE.

You will if they cure AIDS in order to charge you a fortune for the cure.

I am fairly sure that that's not a cure for AIDS.

AIDS being a contagious disease, if you don't wipe it out, you haven't cured it, it isn't a disability in one person, but a plague on the population.

Re: Why don't rich people do more awesome things?

#44

Post by VladRussian » Sat, Jun 25, 2011, 5:44 AM UTC

AretNCarlsen wrote: post #19

peteforde wrote: post #14

Earlier quoted context omitted.

While I probably directly run the risk of sounding like a mega-douche, I truly believe that my startup buzzdata.com is going to make life better for millions of people. Is that allowed to count?

Did you start it with the intention of profiting? I think the OP is specifically looking for unprofitable-but-awesome ventures. For example, curing AIDS because you want people to not have AIDS is awesome, but curing AIDS because you want to sell AIDS medicine is not awesome.

>but curing AIDS because you want to sell AIDS medicine is not awesome.

you've obviously never watched "First contact" :)

Re: Why don't rich people do more awesome things?

#45

Post by mkelly » Sat, Jun 25, 2011, 5:57 AM UTC

Once you have money, you have a lot more to lose, and become more conservative. Broke college students will throw their weight around as much as they can, but once they're rich, they're afraid (consciously or not) of losing it.

That's my impression, anyway. (Based on my own experiences, graduating and beginning to earn lots of money. I've had to fight the urge to become quite conservative.)

Re: Why don't rich people do more awesome things?

#46

Post by r22 » Sat, Jun 25, 2011, 6:00 AM UTC

A lot of young wealthy people I know don't do awesome things, same for heirs to fortunes. They just spend more money, maybe give some to charity but overall they aren't doing things that help society or their local community in significant ways. Oh but they can spend $3K on bottle service, no problem there.

Re: Why don't rich people do more awesome things?

#47

Post by JeffffreyF » Sat, Jun 25, 2011, 6:02 AM UTC

zavulon wrote: post #28

chernevik wrote: post #21

Earlier quoted context omitted.

Dude. If you cure AIDS, I DO NOT CARE why you did it. God may care, you may care, and that's all very important. Seriously. But me, I DO NOT CARE.

This. Intentions for good deeds should not count - those are private and for your own use only. What should matter is things that you say or do, not think.

Make no mistake, you are only judged by your true intentions. People,and life, is imperfect and endlessly flawed, what was intended is really all you have in the end, all that really matters to the truth. Yes, results change circumstances and end pain, but the true measure of a man remains his thoughts. Not his wallet, or his treasures or his effect on his environment. What he is inside is what he would be with the power to do as he intended, because the truth wants only to know what he is with great power, because it is the wielding of power that determines the good, and usefulness of a man, to both individual people and to the whole truth of societies singularity.

Re: Why don't rich people do more awesome things?

#48

Post by Tichy » Sat, Jun 25, 2011, 6:40 AM UTC

thaumaturgy wrote: post #8

I'm not about to second-guess PG, or any other single person. Maybe the capital they have isn't liquid enough; maybe they have other obligations; who knows? And it's worth pointing out that doing more awesome things doesn't require wealth. Why don't more poor people clean up their neighborhoods? Why don't more startups choose to solve problems that would really improve peoples' lives? We should never point our finger…

Wow, I must admit I would probably never invest so much into a place I am just renting. Your landlord won the lottery.

Still, it makes me feel uncomfortable. Yes, society is cheering on the people who sacrifice themselves (just watch any movie from the US, that message gets driven home with a sledge hammer). But I doubt that is for the best of the individual. Of course people are cheering if they get something out of you for free.

Re: Why don't rich people do more awesome things?

#49

Post by DilipJ » Sat, Jun 25, 2011, 6:44 AM UTC

jackowayed wrote: post #37

cdibona wrote: post #35

Earlier quoted context omitted.

It's also not worth it and you'd be rewarding the building owner. Bistro Elan could move two blocks in either direction, reduce rent and recoup moving costs in months. (and I hope they do)

Yeah, when I saw Paul's post, the first thing I thought was that it would encourage every landlord of a place that a lot of very rich people love to triple the rent and force a rich person to buy it at a favorable price.

investing in restaurants is a great way for a rich guy to become a poor guy. One case of food poisoning and you'll be dealing with lawsuits that will force you under.

plus it's not scalable, so it's difficult to make a lot of money, unless the food is so good or unique that you can franchise it. But I'm guessing the appeal of Elan has more to do with the atmosphere than the menu...

Anyway, it doesn't matter, the reason the landlord is raising the rent is because he/she assumes that there is someone willing to pay more for the space, which indicates that there is a more economically viable operation that can be run in that area than that particular restaurant.

Re: Why don't rich people do more awesome things?

#50

Post by CyberFonic » Sat, Jun 25, 2011, 6:58 AM UTC

swaits wrote: post #32

Most rich people probably got rich making good investments, not charity real estate ventures.

I personally know many rich people. They didn't get rich by giving their money away. They're a shrewd lot who work hard to make more of what they've already got.

Even people who win big at lottery, etc often end up poor after a couple of years of being generous with their good fortune.

Don't get me started on Bill G. (using the above arguments he owes me a pub based on the accrued interest for the drinks I bought him the 80's.) Even his philanthropic activities are calculated business decisions with considerable tax and other benefits.