But doesn’t he mixing up the concepts of startup revenue vs being billionaire?
How to earn a billion dollars
631–640 of 1001 posts
Re: How to earn a billion dollars
#632Earlier quoted context omitted.
What if -- bear with me here -- it's possible for bright, motivated founders to create startups that your kids can work in, but those founders could be content with merely making a hundred million dollars? Because, and I don't know if you know this so you may have to take it on faith, that is still so much money that said founder and their family and very likely their descendants can live in extreme luxury for the re…
How exactly do you propose keeping a founder from becoming wealthier once their company scales past the point where they are worth a hundred million?
anti-trust
Re: How to earn a billion dollars
#633Earlier quoted context omitted.
What if -- bear with me here -- it's possible for bright, motivated founders to create startups that your kids can work in, but those founders could be content with merely making a hundred million dollars? Because, and I don't know if you know this so you may have to take it on faith, that is still so much money that said founder and their family and very likely their descendants can live in extreme luxury for the re…
> it's possible for bright, motivated founders to create startups that your kids can work in, but those founders could be content with merely making a hundred million dollars? Making a billion dollars doesn’t require becoming a billionaire. Someone who makes a billion dollars in a balanced society generates wealth and taxes. (One who does in an unbalanced one has the choice to donate.) Also, liquid versus illiquid. F…
This is why the guillotine will either be taxes or blades. It's either Bernie or Luigi. There is a sizable segment of the population that just doesn't have any empathy for society at large. "There should never be a cap to my selfishness."
You might think: I can argue with them.
No. You can't. They literally couldn't care less about you or anyone else. They do, however fear retribution.
Re: How to earn a billion dollars
#634The amount of negativity to this is depressing. No one seems to be contradicting anything he's saying here, instead it's just vacuous ideology "extraction" etc etc. Purposely narrow reading. I've got kids, I want people creating start ups they can work in, the alternative is too grim.
What if -- bear with me here -- it's possible for bright, motivated founders to create startups that your kids can work in, but those founders could be content with merely making a hundred million dollars? Because, and I don't know if you know this so you may have to take it on faith, that is still so much money that said founder and their family and very likely their descendants can live in extreme luxury for the re…
It is not like the money is in his bank account.
And it’s not like he took the money from somebody else.
He spent a ton of time to create something that he owned the majority of and to make that thing more valuable. He paid other people to help him and they were happy with that exchange. The government also helped them and they were happy with that exchange.
Suddenly, people have assigned a concrete value to the thing via the IPO and it is very valuable.
It’s not like he suddenly has $1 trillion in his account. It’s just the thing that he made and has ownership of is suddenly worth that much.
Re: How to earn a billion dollars
#635Those criticizing those earning billions of dollars think of money as some anonymous fixed pie that magically belongs to everyone. On that completely false view of production (and money), of course it would be offensive for people to grab so much for themselves.
If that's what production was about, humanity never would have left caves.
The ancestors of the fix-pie idea were the ones who would have sneered at the first hut built outside of a cave, at the first crops deliberately sown into the ground, at the first villages built up to provide better living conditions for groups of people including as a trade center.
Everything from 100,000 years ago to today is the result of productive human beings who made more of the world. It's an ongoing process.
Re: How to earn a billion dollars
#636I think the distinction the politician tried to make, was that you don't "earn" a billion dollars the same way the vast majority of people make their money. You become a billionaire by company ownership, not getting cold hard cash. The hierarchy of wage looks something like: 1. hourly pay (how many hours you can work sets the maximum possible salary) 2. base pay + cash bonus (the cash bonus starts to increase your ea…
Even if you're "stuck" at 1, a person with a reasonably high salary can buy equity in the public stock market and start capturing exponential growth. And if they can outperform the market by even ~5% that can really add up[0]. Not to billionaire status but maybe it's okay to not be a billionaire. [0] Big "if" obviously but so is a 15% monthly growth rate in revenue.
Put the robinhood app on your phone and start investing in stocks for less than $100.
Re: How to earn a billion dollars
#637It's clear to me that in order to get a billion, you have to swidle a lot of people out of their fair share of the billion.
As soon as the person that has "The Idea" keeps their 60% stake of the company while the army of minions are working their assess off to get that idea to a billion dollar valuations are given crumbs or no stake at all, you know who is swindling who.
Re: How to earn a billion dollars
#638Earlier quoted context omitted.
What if -- bear with me here -- it's possible for bright, motivated founders to create startups that your kids can work in, but those founders could be content with merely making a hundred million dollars? Because, and I don't know if you know this so you may have to take it on faith, that is still so much money that said founder and their family and very likely their descendants can live in extreme luxury for the re…
I think the most chronic misunderstanding in the "billionaire" rhetoric is that billionaires are in it for money. People who work a job they don't like because they need money to live, view money as the objective in life, because the equivocate it to escaping and freedom. So wearing that lens, and looking at billionaires, these motherfuckers are greed driven psychopaths who blew past the "escape with freedom" bank ac…
If they’re not in it for the money, they’ll be happy to pay more tax
Re: How to earn a billion dollars
#639Someone told me it was impossible to become an avogadrillionaire (to have a net worth of one mole, or approximately 6.02 x 10^23 dollars.) Now there's this founder I know whose startup grew 93% last month. Let's be conservative and say she has 2 million dollars. Let's calculate how many months of 93% growth it takes for something to grow 301,100,000,000,000,000x. The log base 1.93 of 301,100,000,000,000,000 is 61.209…
PG acknowledged that growth is limited by market size. Markets to support "avogadrillionaire" level wealth may not current exist.
However, there obviously exist markets to support billionaire level wealth, as evidenced by the at least 30 billionaires produced by YC, and the many others.
Re: How to earn a billion dollars
#640[flagged]