Live data from Hacker News

What do wealthy people buy, that ordinary people know nothing about? (2015)

old.reddit.com

551–560 of 829 posts

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#551

The 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…

> Miele kitchen equipment

That's... pretty standard in Europe

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#552

Earlier quoted context omitted.

> Maybe a Miele dishwasher last twice as long at double the price. But it will become old after 10 years even so. It... won't support the new dishes that come out in the 2030s? Like, other than energy efficiency (and this is basically already into diminishing returns for appliances like dishwashers), what must-have progress are you expecting?

IoT, and in the near future, arms for self loading and unloading. Who knows what advancement in UI will happen? If we knew what they were beforehand, we'd be doing then already. For example, the microwave. Older microwaves have a cumbersome enter time, hit start procedure. Newer microwaves also have a "quick start" button for 30 seconds which you can just press four times to get it to go for two minutes, or enter the…

I have a rotating knob on the micro wave, no manual digital input although it's only a few years old. Fwiw it could be a decade or two old

And I am happy with it. Pretty much prefer it to using buttons.

Just rotate it to about 30, done.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#553
post #438

Earlier quoted context omitted.

I would absolutely do that. Having to relearn instrumentation and optionals, how the car handles, dealing with its size, etc etc, is an absolute ballache. If you're not into cars, there is no novelty in having to drive two or three different cars just because you want to be near the sea this week and near the city next week.

If you were that rich wouldn't you just hire someone to drive well for you? But if you liked driving for the sake of it would it not be part of the enjoyment to learn to handle different vehicles well?

I'm sure it varies, but personally I have a very prosaic reason that I would still drive myself in most scenarios: If someone else is driving I tend to get motion sickness.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#554
post #393

Earlier quoted context omitted.

Heated toilet seats with bidet. You will never want to go back.

move to a warm country and that problem is solved.

A luxury reserved for your ski chalet, then

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#555

Earlier quoted context omitted.

Advertisements are constantly changing what I want ...

[dead]

Happens to us all

The mind is an open wound susceptible to unhygienic memes like advertising and social media

Even now you and I are exposing our minds to all the thoughts in this thread. It's impossible for us not to, it's the reason we're here in the first place

So if advertising doesn't change your wants and desires then the problem is you aren't noticing how unhygienic your mind is getting

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#556
post #525

Earlier quoted context omitted.

In covid had a whirlpool dishwasher that lasted less than 3 years (4 subsystems failing all at the same time)...it was either wait 2-X months for the Miele we wanted, or pay twice as much to have it today. ($2k vs $1k) I'm uncomfortably enamored with this dishwasher. (Bought it over a Bosch as the percentage needing repair in the first year was 8% instead of 12% and I was flat done with it.) The dishwasher is fully e…

Do I understand from this that they lock you into... proprietary soap?

You don't have to use it, as the machines still have the option to use normal dish washer tablets. But if you want to use their auto dosing feature (in theory it works out how dirty your dishes are and does only as much detergent as you need), then yes you're locked into their proprietary system, and paying 2-4 times as much per wash.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#557
post #467

Earlier quoted context omitted.

Steve Jobs did this, he got a new car every 6 months yet for years only drove a 911, then an MB SL55. Why have to learn a new car when you like what you drive? https://www.autoweek.com/car-life/but-wait-theres-more/a1704...

he got the new cars every 6 months because he could avoid then putting car plates on it (california weird law on new cars) and then not be able to be given tickets when he would park on his disabled spot at cupertino classy mfer lol

There's a story where The Woz pulled a prank on Jobs. Turned out he couldn't even be ticketed, because that parking spot was marked incorrectly:

https://folklore.org/Handicapped.html

(Apple personnel @ the time probably unaware of that technicality. Story says it wasn't fixed)

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#558
post #534

Earlier quoted context omitted.

Please remember that this is from 10 years ago. For wealth comparison, you need to take into account the valuation of assets in this period. What the author says about 700M, is probably roughly equivalent to today's 5 billions.

>What the author says about 700M, is probably roughly equivalent to today's 5 billions. The cumulative inflation for the past 10 years is 35.6%, not 7x as you imply. https://fred.stlouisfed.org/series/CPIAUCSL

> The cumulative inflation for the past 10 years

Without taking a stand on which metric is better for social and lifestyle comparisons, the grandparent poster said 'valuation of assets' rather than inflation. Per Yahoo Finance (https://finance.yahoo.com/quote/%5ESP500TR/), the S&P500 is about 340% of its mid-2015 level on a total return basis (reinvesting dividends).

Today's $700-millionaire would have been a 'mere' $200-millionaire in mid-2015 if invested fully in equities. That allocation is probably ballpark reasonable, since with that kind of net worth investment horizons are very long (multiple generations of inheritors) and the investors themselves can be nearly risk-neutral rather than risk-averse.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#559
post #385

Earlier quoted context omitted.

They are decidedly a result of the taxation system of a country. The country decided they wanted to have this class of people to exist. (The degree of) Wealth inequality is always a product of society.

Poor people pay next to nothing in taxes, yet they don’t end up wealthy from this. The tax systems doesn’t create wealthy people, it just doesn’t cut their legs out from under them.

Tax systems create wealthy people in two ways:

a) by disproportionally tax the poor vs. the rich. In the United States, "42 states tax the top 1 percent at a lower rate than the bottom 20 percent, while 46 states tax the top 1 percent less than the middle 60 percent of earners." https://media.itep.org/ITEP-Who-Pays-7th-edition.pdf

b) by using the taxes to disproportionately benefit the upper income brackets, e.g. by investing more in universities than schools, or infrastructure in wealthy neighborhoods than poor neighborhoods (both true for the US).

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#560
post #527

Earlier quoted context omitted.

In covid had a whirlpool dishwasher that lasted less than 3 years (4 subsystems failing all at the same time)...it was either wait 2-X months for the Miele we wanted, or pay twice as much to have it today. ($2k vs $1k) I'm uncomfortably enamored with this dishwasher. (Bought it over a Bosch as the percentage needing repair in the first year was 8% instead of 12% and I was flat done with it.) The dishwasher is fully e…

>The dishwasher is fully enclosed...the typical DW is open at the back with all the guts just barely contained in an open structure. That seems.. fine? Why spend a bunch of money/effort on dressing up something that'd get seen for a few hours max? >It has pucks full of detergent, a load now a days costs about $1.80...more than I'd like, but the simple avoidance of pouring soap and having a sixpack delivered when you…

You'd be surprised. I don't like the lock in, but it sure makes running a partial load easy (which, yeah, blows the dollar cost ratio even more.)

Enclosing the dishwasher keeps the internals dust free...

It was awhile before I noticed, unlike every other dishwasher I'd ever owned, it didn't have a big heating coil sitting in the bottom of the dishwasher, the water heater is elsewhere.

Listen, the goal is not to convince you. I would never have purchased it had COVID not done what COVID did to the supply chain. But there are subtly significant differences between this and a $500 plastic Memorial Day special.

Post reply on HN