Live data from Hacker News

How a Millionaire's Brain Works

fortunewatch.com

21–27 of 27 posts

Re: How a Millionaire's Brain Works

#21
post #9

This is not how any millionaire I know's brain works. Maybe I know an unrepresentative sample, but most focus their ingenuity on novel ways to create wealth rather than novel ways of avoiding expenditure.

Unless they inherited their money and are on the path to lose it all..

Re: How a Millionaire's Brain Works

#22
post #9

This is not how any millionaire I know's brain works. Maybe I know an unrepresentative sample, but most focus their ingenuity on novel ways to create wealth rather than novel ways of avoiding expenditure.

Many versions of that story have been floating arund the web for a long time...It's clearly straight from a comedian's mind, and was not meant to be taken seriously.

Re: How a Millionaire's Brain Works

#23
post #9

This is not how any millionaire I know's brain works. Maybe I know an unrepresentative sample, but most focus their ingenuity on novel ways to create wealth rather than novel ways of avoiding expenditure.

I presume many of your friends and associates you are referring to made their money from technology startups in MA and CA. Do you have any reason to believe they are a representative sample?

Re: How a Millionaire's Brain Works

#24
post #8

Earlier quoted context omitted.

That's a good idea if your time is worthless. "Penny-wise and pound-foolish"

It's not really to save money though. It's more like after getting dozens of emails a day begging for money, some percentage just develop a complex and have trouble trusting others.

If it had to do with emails, then this wouldn't just apply to rich people, it would apply to everyone with an email account. Have you never seen spam?

Re: How a Millionaire's Brain Works

#25
post #3

A millionaire doesn't even have his own private parking space? Sounds fishy :)

the story has a good point, but the example is weak.

if you're willing to pay for a ferrari, one would think you'd be willing to buy a regular parking spot for it.

and why would you drive it to the airport in the first place if you're planning on going out of town for a couple weeks? why not get a ride from a millionaire friend in their ferrari?

i'm not a millionaire, but it seems like being a good planner is at least as important as being a penny-pincher if you want to make serious money.

Re: How a Millionaire's Brain Works

#26
post #8

Earlier quoted context omitted.

That's a good idea if your time is worthless. "Penny-wise and pound-foolish"

It's not really to save money though. It's more like after getting dozens of emails a day begging for money, some percentage just develop a complex and have trouble trusting others.

I've already got one of those, and I'm nowhere near rich...

Re: How a Millionaire's Brain Works

#27
post #18

An insight into how billionaires think in NYC comes from Mayor Bloomberg who takes the subway to work. That's way cheaper than parking in Manhattan. John.

He rides subway to appeal to people. He's a politician.

Possibly he also rides subway to catch the mood of the passengers, which makes him a politician with a clue.
Post reply on HN