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

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

#791

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Damn bro, shut your damn mouth using that offensive word for people like me. It's fucking 2025. Hurr durr 4chan kid, that site is dead now time to grow up. I hope dang senses a disturbance in the force.

You sunk to his level. First mistake.

No. I will always react to homophobia with aggression. There is no bargaining to be had or pleasantries to be exchanged.

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

#792

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[flagged]

First comment. No submissions. This is the first and only reply that you had enough motivation to make?

Sometimes people make new accounts when they want to say stupid things.

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

#793

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Cool, do you know about statistics and survivor bias ? If it was that easy why isn't everyone a millionaire ? Why doesn't everyone make 20-200% per year ? If you can guarantee 20-200% of return per year consistently over 10-20 years go to wall street they'll pay you millionS per year to work for them There is a big gap between "I'm in the top 1% earners and lucked out in the market" and "Literally every software engi…

Yes, I understand statistics and survivorship bias - I’m a mathematical physicist by training. I’m also a pretty average schlub. Most people aren’t wealthy because they don’t even try, and instead run on a treadmill until they drop dead. I have no interest in going to work on Wall Street or anything similar. My entire investing philosophy is basically based on this site. There is constant signal here on what will be…

What lemons did you bet on?

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

#794

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Traditionally, yes. That's for the people who inherited a mansion, retainers, and trusts. Now there are family office concierge services. "Luxury lifestyle as a service" is available.[1] That's for people who made a lot of money all at once and need guidance in spending it. (The people I've known with serious money made most of it themselves, and didn't need a family office. Except for one married couple who blew thr…

What comes to mind here is Up In The Air starring George Clooney. Now Ryan Bingham doesn't command any particular status or wealth, but he makes a living firing people on behalf of other companies ("Concierge firing-as-a-service"?) and he leads a nomadic lifestyle that many of us would find completely intolerable. His one lifelong dream is to earn 10,000,000 Frequent Flyer miles and hold the special Unobtanium card f…

> this is his unique number and there is a specially-assigned staffer waiting by the phone to personally take his call.

For small values of "personally". I once visited a rent-an-office place which had a live receptionist. She had a phone with about thirty line buttons. Each time she answered a different line, she gave a different company name.

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

#795
post #426

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We are all Miele at home and for the next renewal, I will go to Bosch/Siemens. Too many small failures here and there (less than 8 year old). I was sincerely surprised because 20 years ago, Miele was the gold standard (at least in Germany). So, I agree with you.

I know that German brands get a lot of cred, but I have never really experienced it much. And thinking about it, it kind of makes sense: Who in first world developed countries, that is smart, competent, and capable, wants to take a ho-hum salary to develop home appliances? From an economic and financial perspective, it doesn't make sense for Germany to pump out high quality innovative home wares. The brightest German…

It makes sense, in Europe, German people are the ones spending the most in kitchen hardware (both appliances and furniture). So naturally, companies have been serving this market. Anecdote, high end Miele appliances have been running Linux for a couple of years.

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

#796
post #630

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My mom worked at a law firm where one of the partners retired, moved to England, and bought a castle. As one does. He told this story while back in the States for a party: Castles are old. And drafty. And need a LOT of renovations to bring them up to a modern standard. So he had immediately set upon this work, hiring contractors, picking out high-end appliances, arranging for the import of Italian marble countertops.…

That's a classic put-down (and a lie). English aristocracy really knows how to cut someone to size when they feel like.

Have you ever read "Remains of the Day?" Not sure how close to reality it is, but it's a fiction book about the servants culture of those who worked for British aristocracy in the mid-20th century. I can see how a true British aristocrat would only have servants enter the kitchen.

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

#797
post #742

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Ikea has a range. If you choose the junk aimed at dorm rooms you got what you paid for. The rest sells easily at moving time, being a known commodity.

even the highest and ikea stuff is still complete junk.

BS. Let me guess... you are one of those "connoisseurs" who looks down on products that are a good value.

https://news.ycombinator.com/item?id=24829405

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

#798

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On a personal level I know several guys who are worth $10-30M, one who's worth probably $40M, and one who's worth around $700M, this is LNW. Not much in the Reddit reply checks out for me. It's true that the $700M guy socializes with "Senators/Congressmen/community leaders." He travels a lot, and comfortably, but has no ownership in a jet. He retired young-ish and no longer works so maybe that's why. He doesn't flash…

I was invited for coffee at a friend's friend. He seemed a pretty regular guy, very friendly: kids playing in the pool. Nothing out of the ordinary except as many house employees as adult guests (and house employees where calling guests by their name). I happened to know the artist Jeff Koons: not a big fan of the "inflated balloon dogs" but I do like his ballerinas. Well... Turns out the dude had one house destroyed…

Reminds me of a story a contractor told me: he was building a multi-million dollar house in Hawaii as a second home for a very wealthy California couple. He said they made the kitchen exactly the same as their other house. Same appliances, same cabinets, all the exact same dishes and silverware, all in the same drawers. People like what they like, and when you're hung over and reaching for the coffee cups in the morning, you know exactly where to find them.

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

#799
post #555

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[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

Nah. My possessions fit into three boxes. I buy the same shampoo and conditioner and bar soap I've bought for over a decade. I don't buy things and when I do I research them for hours before buying. It is actually possible to exit the consumerism treadmill.

I mean I bought a keychain last year that I put on my backpack, and the vendor had it out on a table. I guess that counts but that's basically the only impulse buy I've made in the last two years.

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

I genuinely don't understand what this means.

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

#800
post #630

Earlier quoted context omitted.

That's a classic put-down (and a lie). English aristocracy really knows how to cut someone to size when they feel like.

Have you ever read "Remains of the Day?" Not sure how close to reality it is, but it's a fiction book about the servants culture of those who worked for British aristocracy in the mid-20th century. I can see how a true British aristocrat would only have servants enter the kitchen.

Furthermore, it would be an insult for them to do so. That would imply that the servants' performance had been so lacking as to require some sort of direct investigation or intervention. At least, that's how it was explained to me.
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