That particular Reddit comment [2015-01-13] overlaps with a recent Graham Stephan video that explains what life is like at each order of magnitude of net worth: https://www.youtube.com/watch?v=ZAPhN6o3e3o (19m57s) [2025-04-28]
What do wealthy people buy, that ordinary people know nothing about? (2015)
211–220 of 829 posts
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#212The referenced reply is dull. It's very pretentious but just reiterates common knowledge, it doesn't convey any useful information. For example I wish someone told me about the existence of Miele kitchen equipment before I accidentally rented an apartment of a well-to-do woman. She renovated it for herself but then rented out when circumstances changed. Similarly it took me a long time to realize just how much better…
> but it lasts 5-10 times longer I find it such a weird argument. Ok, your furniture from 1900 is still doing great, fantastic. The problems are: 1. Your great-grandfather had a different sense of esthetics, so shit just didn't fit your modern apartment. 2. You moved to a different country, and shipping fees of the furniture were ten times the cost of brand-new chipwood furniture (literally). 3. The furniture was des…
We're not talking of centuries here. Laminated chipwood looks like shit in a matter of years. I can replace my phone every year but for a kitchen table or a bathroom door it's ridiculous, way too much hassle.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#213I saw that Reddit post a while back. It’s interesting, but I wonder how much it really applies to all of the super wealthy. There are certainly billionaires and centimillionaires who reject that lifestyle out of hand (I know I certainly would). The average person doesn’t know their name and they prefer it that way. Even the local billionaire near where I lived for a while was pretty modest, all considered (his kids n…
There's definitely a whole spectrum, and not every ultra-wealthy person is out there collecting yachts and private islands. Some just want comfort, privacy, and to be left alone to enjoy the little things
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#214I really like this post since it shows how very little there is for the wealthy to buy other than status goods. The life of the rich, other than status, is very much like the life of upper middle class. The same phones, the same digital entertainment, the same appliances in their homes. We have very few items for the rich to buy. Honestly, it is a problem it breaks incentives and it drives the rich more towards statu…
I knew a son of two entrepreneurs with a ~30m yacht, they own a (ex) monastery they use, either for parties, events, or as a residence They have Miele appliances, but having "same appliances" doesn't make justice to the fact that there are deeper differences. Yes, they're status goods, but I think one's life might greatly improve by being very wealthy - even if your life can still be shitty as a wealthy person
My apartment has Miele appliances. It came with the apartment and I'm honestly not impressed at all besides the fact that they still work after 18 years (when they were installed).
The oven is mediocre at best, my Annova Precision Oven is much much better, much better control of temperature, heats up much faster, has more features, infinitely cheaper.
The range hood needs to be repaired because it makes a lot of noise. Repair of Miele appliances are super expensive.
The only appliance I'm impressed with is the wine cave but that's a white labeled Liebherr
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#215Earlier quoted context omitted.
Miele makes really good stuff. I have their stackable W1/T1 washer/dryer. It's unbelievably good at washing or drying pretty much anything. They also supposedly last forever, even today. I'll let y'all know how true that is in 20 years LOL
Oh no... Ok, Miele rant - I got a whole set in the new house. Their firmware SUCKS. Turning on the oven/dishwasher takes 5-10s. The dishwasher takes 3 power button presses with no feedback. The oven has no indication when it starts turning on and it's a touchpanel, so you stand there like an idiot deciding is the next press will work or be perfectly timed to turn it off again. Then once you start the drying after ste…
The microwave in my apartment also has bad firmware. It beeps four times when the timer runs down and it turns off. Unfortunately, the beeping continues unnecessarily after opening the door. I believe Frigidaire (the brand) contracted a manufacturer to build the model, but they have their own people install the official firmware. Then the manufacturer produces extras, installs their own firmware, and sells them, cutting out the brand. And that's how I end up with a "Frigidaire" microwave that beeps when it shouldn't and says "GOOD" instead of "DONE". At least that's my theory.
Firmware is an important part of the appliance. An appliance with Frigidaire hardware and third-party firmware is counterfeit.
Maybe the same thing happened with your Miele appliances?
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#216I really like this post since it shows how very little there is for the wealthy to buy other than status goods. The life of the rich, other than status, is very much like the life of upper middle class. The same phones, the same digital entertainment, the same appliances in their homes. We have very few items for the rich to buy. Honestly, it is a problem it breaks incentives and it drives the rich more towards statu…
The incentives for the ultra-rich are screwed up. I remember a few years ago Mark Zuckerberg announced that he was donating 99% to charity. The internet got very angry about it, based on flimsy reasoning: https://qz.com/564805/5-criticisms-of-billionaire-mega-phila... Bill Gates has saved millions of lives through his philanthropy, and the internet is full of malicious rumors about him. Other billionaires who do far…
Gates giving away his money is good, but it would be better for the billionaire class not to exist. Money is power is a zero sum game.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#217Debrett’s Guide for the Modern Gentleman should give some pointers.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#218The referenced reply is dull. It's very pretentious but just reiterates common knowledge, it doesn't convey any useful information. For example I wish someone told me about the existence of Miele kitchen equipment before I accidentally rented an apartment of a well-to-do woman. She renovated it for herself but then rented out when circumstances changed. Similarly it took me a long time to realize just how much better…
Worst experience I've ever had was with a Miele dishwashing machine at an AirBnB in the Netherlands. I like my Miele vacuum cleaner though
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#219Earlier quoted context omitted.
Can't say I've stayed at the Four Seasons, but we stayed in the St Regis in SF last year. We got upgraded to the Metropolitan Suite and that was quite the experience. Note that I paid exactly zero as I'm a long time Bonvoy Gold Member and was burning points on one of their regular rooms for a vacation, then they elected to upgrade us. I think it was due calling ahead asking for an accommodation for my autistic son (w…
Now take that experience, put it on a private jet and yacht, with staff who know you personally and can be prepositioned to ancitipate your needs and you're around where the hundred millionaires live. (Billionaires operate like mini heads of state.)
In my experience, if you value your privacy, freedom etc... I'd say living like a millionaire with close to 100 (but not above) is much nicer than living above that. Below 100 million, you don't need bodyguards and private security, you can be as low key as you want.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#220Earlier quoted context omitted.
> but it lasts 5-10 times longer I find it such a weird argument. Ok, your furniture from 1900 is still doing great, fantastic. The problems are: 1. Your great-grandfather had a different sense of esthetics, so shit just didn't fit your modern apartment. 2. You moved to a different country, and shipping fees of the furniture were ten times the cost of brand-new chipwood furniture (literally). 3. The furniture was des…
We're not talking of centuries here. Laminated chipwood looks like shit in a matter of years. I can replace my phone every year but for a kitchen table or a bathroom door it's ridiculous, way too much hassle.
I disagree. Sure, it wears down faster, but it still can last you just enough.