Mark zuckerberg became a billionaire at age 22. Where are the young self made billionaires or multi millionaires and in what industry are they mostly ? Is it still mostly in tech, or are sectors like social media, content creation, and crypto taking over?
Where are the GenZ multi millionaires and billionaires?
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Re: Where are the GenZ multi millionaires and billionaires?
#2I think you really can't make that kind of money at content creation or crypto.
Remember Zuckerberg, Gates, Musk and company didn't become billionaires by making a company that made a billion dollars, they became billionaires by starting a public corporation that became worth billions and billions. It's been getting harder and harder to do that ever since not least to laws passed after the Enron scandal, the 2008 crisis and such. Every social media company that had the possibility of going public got bought by Facebook or Microsoft.
Re: Where are the GenZ multi millionaires and billionaires?
#3It goes in cycles. The late 90s into 2010s was getting everyone "online" 2010s to 2015s was "online stuff" and 2013 today has been moving all the software to the internet, people got rich in each wave of them. I wish I could find it but I once saw a super early day interview (not the Bambi Francisco one) of Zuck asking about turning down billions and he's just like "I have facebook..." - he could see what was in front of him. Personally I'd guess the next big wave of young rich folks will come out of hardware. On your comment about content creation/the creator economy... I hope for a resurgence of the value of individual art and creativity. The greatest joy I had working on building deviantart was technology disappearing into the background so creativity could shine. Now that we have a sort of interesting tech maslow in place, I hope many young folks are able to find ways to make comfortable livings doing cool things using tech over the next 10 years, and I hope we continue to de-emphsize the want to become a billionaire, the richest people I know are the least happy.
Re: Where are the GenZ multi millionaires and billionaires?
#4I think you really can't make that kind of money at content creation or crypto. Remember Zuckerberg, Gates, Musk and company didn't become billionaires by making a company that made a billion dollars, they became billionaires by starting a public corporation that became worth billions and billions. It's been getting harder and harder to do that ever since not least to laws passed after the Enron scandal, the 2008 cri…
Optimize/redesign the low-D from high-D mechanism to be self-amplifying :)
Gen-A/Z, low-D (cool,IT-immune) by surfeit of youth & dearth of means, growing up in high-D millennial culture (rich,online & cringe)
Low-key (paywalled) epicenter of memes "vibe shift" AND "hype dad" https://web.archive.org/web/20210610081555/https://www.8ball...
(Subtext lifted from old goat Gramsci!!)
Cited but not linked here https://www.vice.com/en/article/an-obituary-for-millennial-c...
Re: Where are the GenZ multi millionaires and billionaires?
#5I think you really can't make that kind of money at content creation or crypto. Remember Zuckerberg, Gates, Musk and company didn't become billionaires by making a company that made a billion dollars, they became billionaires by starting a public corporation that became worth billions and billions. It's been getting harder and harder to do that ever since not least to laws passed after the Enron scandal, the 2008 cri…
You can definitely make billions in crypto but beating the criminal charges is harder.
Re: Where are the GenZ multi millionaires and billionaires?
#6I think you really can't make that kind of money at content creation or crypto. Remember Zuckerberg, Gates, Musk and company didn't become billionaires by making a company that made a billion dollars, they became billionaires by starting a public corporation that became worth billions and billions. It's been getting harder and harder to do that ever since not least to laws passed after the Enron scandal, the 2008 cri…
Optimize/redesign the low-D from high-D mechanism to be self-amplifying :) Gen-A/Z, low-D (cool,IT-immune) by surfeit of youth & dearth of means, growing up in high-D millennial culture (rich,online & cringe) Low-key (paywalled) epicenter of memes "vibe shift" AND "hype dad" https://web.archive.org/web/20210610081555/https://www.8ball... (Subtext lifted from old goat Gramsci!!) Cited but not linked here https://www.v…
Are you saying Gen-A/Z is subaltern in a way different to the traditional disaffection of youth?
> "We must be as stealthy as rats in the wainscoting of their society. It was easier in the old days, of course, and society had more rats when the rules were looser, just as old wooden buildings have more rats than concrete buildings. But there are rats in the building now as well. Now that society is all ferrocrete and stainless steel there are fewer gaps in the joints. It takes a very smart rat indeed to find these openings. Only a stainless steel rat can be at home in this environment..." —HMH's Bishop
Re: Where are the GenZ multi millionaires and billionaires?
#7Earlier quoted context omitted.
Optimize/redesign the low-D from high-D mechanism to be self-amplifying :) Gen-A/Z, low-D (cool,IT-immune) by surfeit of youth & dearth of means, growing up in high-D millennial culture (rich,online & cringe) Low-key (paywalled) epicenter of memes "vibe shift" AND "hype dad" https://web.archive.org/web/20210610081555/https://www.8ball... (Subtext lifted from old goat Gramsci!!) Cited but not linked here https://www.v…
Are you saying Gen-A/Z is subaltern in a way different to the traditional disaffection of youth? > "We must be as stealthy as rats in the wainscoting of their society. It was easier in the old days, of course, and society had more rats when the rules were looser, just as old wooden buildings have more rats than concrete buildings. But there are rats in the building now as well. Now that society is all ferrocrete and…
This is the D he is talking about
Re: Where are the GenZ multi millionaires and billionaires?
#8Earlier quoted context omitted.
Are you saying Gen-A/Z is subaltern in a way different to the traditional disaffection of youth? > "We must be as stealthy as rats in the wainscoting of their society. It was easier in the old days, of course, and society had more rats when the rules were looser, just as old wooden buildings have more rats than concrete buildings. But there are rats in the building now as well. Now that society is all ferrocrete and…
This is the D he is talking about https://www.darkfactor.org/
Aha, so Aristotle would say high-D types have an excess of prudence (or at least phronesis, in the sense of knowing how to turn affairs to one's own advantage) as well as a deficiency of justice?
Re: Where are the GenZ multi millionaires and billionaires?
#9I think you really can't make that kind of money at content creation or crypto. Remember Zuckerberg, Gates, Musk and company didn't become billionaires by making a company that made a billion dollars, they became billionaires by starting a public corporation that became worth billions and billions. It's been getting harder and harder to do that ever since not least to laws passed after the Enron scandal, the 2008 cri…
You can definitely make billions in crypto but beating the criminal charges is harder.
It's keeping it or getting it out that's the hard part. Look at the case of Satoshi Nakamoto who hasn't touched his main BTC cache. Often you hear about some shitcoin that has an eye-popping valuation and the people who started it still own most of the coin but if they tried to sell much of it the value would drop.
Re: Where are the GenZ multi millionaires and billionaires?
#10Earlier quoted context omitted.
This is the D he is talking about https://www.darkfactor.org/
Aha, so Aristotle would say high-D types have an excess of prudence (or at least phronesis, in the sense of knowing how to turn affairs to one's own advantage) as well as a deficiency of justice?
Maybe
https://en.wikipedia.org/wiki/Nicomachean_Ethics
Not all researchers in that field would 100% agree but I see D as the old dark triad (Narcissism, Machiavellianism, Psychopathy) plus Sadism which is conspicuously absent from the triad.
My own take is that the modern moral rot is founded in Narcissism as described in
https://en.wikipedia.org/wiki/The_Culture_of_Narcissism
which was thought to be about the 1970s when it came out but actually talks about longer term trends that have been tracked to the 18th century in the US, Tokugawa Japan and ancient Rome. Psychologists see Narcissism as an underdevelopment of the personality
https://en.wikipedia.org/wiki/The_Analysis_of_the_Self
https://www.psychiatrictimes.com/view/kernbergs-borderline-c...
so it's not like a High D person is a Low D person that went bad, but rather a High D doesn't have a lot of insight into how Low D people work. In a Low D culture a High D person might be forced to be a "wolf in sheep's clothing" but a silver lining to being in a culture that celebrates High D is that High D people are proud to fly their flag.
When I was a hungry college student I thought "gee Charles Manson was good at picking up chicks"; today I realize that Charles Mason was good at picking up murderous chicks. That is, High D people aren't good at ripping off or seducing low D people, they're good at ripping off and seducing other High D people. See
https://leverage.fandom.com/wiki/The_Long_Con
and "You can't cheat an honest man".