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Almost-Billionaires (2014)

lackingambition.com

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Re: Almost-Billionaires (2014)

#51

Post by bserge »

brailsafe wrote: post #49
bserge wrote: post #12

Earlier quoted context omitted.

Doing all the work (at least at first), including convincing people to part with their money for your idea is easy? The latter especially is incredibly stressful unless you're one of those people who don't give a fuck about others, their struggles and their things (I envy that btw).

You're envious of sociopaths?

Yeah, they just go get it. I'd be ashamed of borrowing a few thousand for an obvious scam or even a good idea that fails.

Meanwhile they take millions and shrug when it turns out no one wants their shit app or juicer.

Re: Almost-Billionaires (2014)

#52

Post by iib »

hardwaregeek wrote: post #33
daenz wrote: post #27

For a long time, my plan was to "get rich" and then use my money to work full time on specific interesting tech ideas of mine. The tradeoff of time spent "getting rich", even if it took a decade, was worth it because of the free time I would have afterwards. With this in mind, I tried building various startup ideas and joining startups that could blow up big. Nothing really worked out, and I realized just how difficu…

I've thought about this too. It reminds me of the blog post Do the Real Thing^[1]. Too many people do everything except the goal they actually want to accomplish. While getting rich is not "easy" per se, it's an easy goal to set that won't get you any criticism from most people. Often times the loftier goals are not as clean cut and direct, and require serious amounts of introspection. [1]: https://www.scotthyoung.co…

One of the premises of the article is that cross-training does not bear fruit, but I recall claims that, for example, piano players picking up guitar had a much easier experience, than a non-musician picking up guitar.

Perhaps reality is more nuanced than that? Like, there may be tasks that appear very similar, but they are actually not cross-trainable?

Re: Almost-Billionaires (2014)

#53

Post by dcolkitt »

brailsafe wrote: post #50
seibelj wrote: post #30

Earlier quoted context omitted.

Also, a successful business tends to immediately create jobs (at least part time, if not full employees) to help it grow. People who denigrate business and the art of making profit - which truly is the art of fulfilling the wants of others - are so truly, intensely naive.

Meh, I think that's an equally overly simplistic view. Capitalism earns its accolades as well as its criticism because it's fans want it to be this pure embodiment of helping people. But it's obviously responsible for just some of the things that help people. I think its pretty fucked up for example that full neighbourhoods of multi-millionaires if not billionaires exist in my city, while a huge portion of the people…

It’s funny but the high cost of both are of those things you mention are the result of artificial regulatory restrictions on supply.

Entrepreneur property developers are ready, able and willing to build a tidal wave of housing, but are shackled by NIMBY zoning laws, building codes, and land use restrictions designed to restrict the supply of housing and push up prices for existing home owners.

The high cost of dentistry is entirely a result of extreme restrictions on new dentists put in place by the ADA. Entrepreneurs are ready, able, and willing to train or import from overseas an army of new, cheap dentists. By they can’t because the ADA hasn’t approved opening any new dental schools since 1980 and won’t let Turkish, Thai and Costa Rican dentists practice in the US.

Re: Almost-Billionaires (2014)

#54

Post by dharmab »

divbzero wrote: post #22
brody_hamer wrote: post #7

I had a dream once that I was hired by a rich man. I was given the freedom to hire the smartest people I could find and take on something challenging. It paid only room and board for me and my family, plus a small equity share in whatever we created. I would give anything for that dream to be a reality. Please, if you’re reading this and you’re a millionaire, have some fun making someone else’s dreams come true?

Being a professor at a research institution is not too far from what you describe. You need to persuade the rich man that you are worth funding ( i.e. grants) but with that you can hire the smartest people you can find to take on something challenging, get paid a modest but decent salary, and have a small equity share in whatever you create.

Sometimes you can exit with much more than that. A family member who spent decades in research was able to get the IP rights to some of their work and is running a stealth mode startup to develop it further.

Re: Almost-Billionaires (2014)

#55

Post by sombremesa »

iammisc wrote: post #9
pmoriarty wrote: post #3

Earlier quoted context omitted.

It would be very interesting to hear you elaborate on this, as from the outside it really does look pretty easy.

Well for me having made the jump from IC to being responsible for my whole team, the issue is that the promises I used to give were based on my ability, whereas now I have to take the whole team into account. And so sometimes, I'm left saying to another team, it's going to take X weeks to do this, even though if I were doing it, I think I could do it in Y Moreover, when I did overpromise, as an IC I would put in the…

This kind of reads like your bad management used to only affect you but now it affects the company. How does this translate to management being harder than it looks?

Re: Almost-Billionaires (2014)

#56

Post by TrackerFF »

This is gonna sound harsh, but I have never in my life met or seen a wealthy person become anything more than a dilettante in some new hobby / passion calling AFTER they acquired their wealth. There's nothing wrong with that, a lot of people enjoy being so-so at something they enjoy, as long as they get to dabble in that.

To become top-tier at anything, I believe you need more than just the lust. It take a mix of raw talent, discipline, passion, and drive - at minimum.

(Yes - there are probably numerous examples to disprove this, but I'll bet that the ratio is extremely skewed)

Re: Almost-Billionaires (2014)

#57

Post by iammisc »

sombremesa wrote: post #55
iammisc wrote: post #9

Earlier quoted context omitted.

Well for me having made the jump from IC to being responsible for my whole team, the issue is that the promises I used to give were based on my ability, whereas now I have to take the whole team into account. And so sometimes, I'm left saying to another team, it's going to take X weeks to do this, even though if I were doing it, I think I could do it in Y Moreover, when I did overpromise, as an IC I would put in the…

This kind of reads like your bad management used to only affect you but now it affects the company. How does this translate to management being harder than it looks?

I dunno man, I gave my experience. Maybe it's unique to me, maybe it's not. I can't give another's and I make no claims to be an expert in this area.

Maybe take your flamebait somewhere else?

Re: Almost-Billionaires (2014)

#58

Post by sombremesa »

iammisc wrote: post #57
sombremesa wrote: post #55

Earlier quoted context omitted.

This kind of reads like your bad management used to only affect you but now it affects the company. How does this translate to management being harder than it looks?

I dunno man, I gave my experience. Maybe it's unique to me, maybe it's not. I can't give another's and I make no claims to be an expert in this area. Maybe take your flamebait somewhere else?

> Maybe take your flamebait somewhere else?

Ironically enough, this answers my question.

Re: Almost-Billionaires (2014)

#59

Post by Abishek_Muthian »

daenz wrote: post #27

For a long time, my plan was to "get rich" and then use my money to work full time on specific interesting tech ideas of mine. The tradeoff of time spent "getting rich", even if it took a decade, was worth it because of the free time I would have afterwards. With this in mind, I tried building various startup ideas and joining startups that could blow up big. Nothing really worked out, and I realized just how difficu…

Was exactly in the exactly same circumstances like you until a near death experience changed my perspective on life, Now I live doing things I like with the goal to die with lesser regrets if I die tonight.

Re: Almost-Billionaires (2014)

#60

Post by tjs8rj »

bserge wrote: post #51
brailsafe wrote: post #49

Earlier quoted context omitted.

You're envious of sociopaths?

Yeah, they just go get it. I'd be ashamed of borrowing a few thousand for an obvious scam or even a good idea that fails. Meanwhile they take millions and shrug when it turns out no one wants their shit app or juicer.

The difference is making something you believe in, have vetted, and genuinely believe others would like a piece of. I’m in the middle of fundraising right now. A year ago the idea of getting others money sounded crazy, but now I’m just excited to share what I’m working on and half the investors I speak to want to use the product too.

Everyone wants to get in on a good investment. If you’re building a good investment, you’re doing them a favor by letting them invest.

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