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I am rich and have no idea what to do

vinay.sh

661–670 of 1001 posts

Re: I am rich and have no idea what to do

#662
It sounds like the author is just trying to aimlessly find something to lose themself in, as if what they need to do has to be the most important thing ever done.

Maybe satisfaction comes to those who can make a difference with others more directly. Author should consider volunteer work, or working for a non-profit. Maybe just be a regular worker, and not the boss for a change. Learn to listen and be OK with following orders for once.

Re: I am rich and have no idea what to do

#663
"Most ambitions are either achieved or abandoned; either way, they belong to the past. The future, instead of the ladder toward the goals of life, flattens out into a perpetual present. Money, status, all the vanities the preacher of Ecclesiastes described, hold so little interest: a chasing after wind, indeed." - Paul Kalanithi

Re: I am rich and have no idea what to do

#664
post #282

I know that people like me do not belong on HN anymore, but: Calling people "NPCs" is vile. And, the entire ideology that makes it okay to say that one's fellow earthling is just an NPC? That is probably a major component of this person's problems.

It's probably impossible to counter-act the aggressive reactions here on the "NPC" term. But the way people interpret his phrase, and how I read it, seem very different? People seem to read it as him saying "colleagues are NPCs". I read it as 'in your life, you will come across co-workers who appear to approach their jobs as though they were NPCs'. IE, you will experience some colleagues who act as if they were controlled by bad game AI. The point then is: If you are one of those who care about "the ball/the game", it can be very aggravating to "play the game", when some of your coworkers act with an "NPC attitude" ("I can't go into that other room, there is an obstacle blocking my path").

So I read it as him saying "staying at the company where I am no longer in control, would drive me nuts having to tolerate groups of colleagues who insist on behaving like NPC's / show up to work on auto-pilot".

As an example, the company where I work recently had an AI hackathon event, where we could work together on AI prototypes on company time. Some of us were thrilled to be given these tools and opportunities. And then there were some other colleagues, whose enthusiasm could be summed up as "Whatever, I'm out the door at 15:30 afternoon, I'm not paid after that".

In short, being annoyed at NPC coworkers is not the same as believing "coworkers are only NPCs".

Re: I am rich and have no idea what to do

#666
This is an interesting read. After years of conversations with folks in SV all over the socioeconomic ladder I've concluded they're 2 types of thinking:

- type 1 "employee thinking": focused on status, TC, consumption, vacation time, free time for hobbies

- type 2 "founder thinking": it's about how much value you create for other people

We (almost) all grow up and are formatted in type 1 - we look for a good "role" that brings wealth and status. The problem is when you have access to type 2 but are trapped in type 1, which seems to be the case here (the frame is about gaining money and status).

The funny thing is you can be incredibly rich, and a founder, and still think like an "employee" without ever being able to get out of it. Conversely you can be poor but think like a "founder" it's not so much about the money. In type 2, as you get richer, the scale of your impact grows and the value you can create gets bigger beyond your personal circumstances. Type 1 is not necessarily negative at all, but also can be a trap.

Re: I am rich and have no idea what to do

#667
I believe one of the founders of Booking.com has had some similar experience (source: "De Machine", the book about Booking.com) and after 4 years of travelings & yoga etc. he sneaked back in into the company. Most of his coworkers do not know he's a founder. He's been fixing Perl bugs, writing scripts and coding some features at least for some years (maybe he's moved on already, don't know, the book is a couple of years old).

Re: I am rich and have no idea what to do

#668

Been there, done that. General comments: - Most people who make a lot of money all at once blow it within seven years. Check out what happens to lottery winners, jocks, and rappers. As a rule of thumb, you can safely spend 4% of your net worth per year. Pay yourself some fixed amount each quarter. - You don't have to get into complex investments. Half in some bond funds, half in some diversified stock funds will work…

> Check out what happens to lottery winners

I have looked into this and found out that lottery winners are fine, that the viral meme about two thirds of them going bankrupt is not true.

https://www.nefe.org/news/2018/01/research-statistic-on-fina...

Most of the claims about lottery winners going bankrupt are uncited and unsourced. A few claims I was able to find pointed at this paper: https://eml.berkeley.edu/~cle/laborlunch/hoekstra.pdf

This paper shows people winning less than $150k having bankruptcy rates drop for the first 2 years, and then return to normal 3-5 years later. Like, duh, a small amount of money will run out. This paper has been widely and wildly mis-quoted as bankruptcy rates going up after a few years, but everyone seems to leave out the part where bankruptcy rates went down first.

The percent of people in this study who had declared bankruptcy after 5 years was slightly over 5%, which is the same bankruptcy rate as the study cohort had 2 years before winning money. 95% of lottery winners did not go bankrupt, and no multi-million dollar jackpot winners are involved in this study.

Re: I am rich and have no idea what to do

#669

Been there, done that. General comments: - Most people who make a lot of money all at once blow it within seven years. Check out what happens to lottery winners, jocks, and rappers. As a rule of thumb, you can safely spend 4% of your net worth per year. Pay yourself some fixed amount each quarter. - You don't have to get into complex investments. Half in some bond funds, half in some diversified stock funds will work…

Why aren’t you suggesting angel investing?

Re: I am rich and have no idea what to do

#670

It’s always climbing mountains. Why does nobody ever go money-mad and excavate an exact replica of the dwarven city of Khazad-dûm in the Black Hills of South Dakota?

A guy in Texas did that with the Forbidden City: https://www.atlasobscura.com/places/forbidden-gardens
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