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I am done. I give up

news.ycombinator.com

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Re: I am done. I give up

#961

Post by data_maan »

danaris wrote: post #349
IronIvan wrote: post #314

Earlier quoted context omitted.

This type of thinking is pure toxin because it essentially reinforces exactly what you don't want. If Peter did in fact work hard and now he's stripped of the results of his labor while being told that probably he only managed to accumulate capital because he was just exploiting others, what incentive landscape does that create. Is a lot of profit a function of factors much less commendable than creating value for ot…

Nobody, at least in the US system, gets very wealthy just by working hard. At the very least, you have to start out with wealth or a strong support system (which is down to luck in your input conditions), or get fantastically lucky in your first(-ish) attempt at starting something. Then, if you want to make the kind of money that, say, Bezos or Musk makes, you have to make the kinds of decisions that many of us simpl…

Peter Thiel is a really good example of using a loophole in law, to make fantastic wealth using his Roth account.

Full story here: https://www.propublica.org/article/lord-of-the-roths-how-tec...

Re: I am done. I give up

#962

Post by xvadim_00 »

neop1x wrote: post #731
rapind wrote: post #704

> It's also the constant stream of digital nomad influencers on Twitter who sell extremely distorted, rosy, and often times false dreams to indie entrepreneurs like myself. They make it seem like building a successful startup is easy and anyone can do it with the right mindset and a few key tips. This is just startup porn. It’s the same in any category (make money flipping houses!, crypto!, etc.) As a rule of thumb,…

This also applies to other fields. People also believe that it is simple to make money through day trading. There are many tiktok influencers and youtubers who portray themselves as millionaires, trading on a beach while digital nomading and giving nonsense advice. Yes, it is possible to make money day trading, but it takes a significant amount of learning, practice, patience, time, and discipline, and even then, the…

CAVEAT EMPTOR friend. I have day traded for 3 yrs. There is no edge to be had for retail day traders. It’s a suckers game, where the odds are stacked against you, just like in a casino. The platforms that trade against retail order-flow make all the money by front running trades at the sub-millisecond level, on every trade. It’s called electronic market-making. Everyone is a glorified speculator. Evidence is ask any of these influencers for an audited trade history or P&L… you’ll never see one. You may get lucky trading and win big, like a gambler, but if you keep playing, you’ll give everything back, then if you buy on margin or leverage with options, you’ll lose it all and more. There are no repeat fund managers that make the top of the list year after year. It’s just dumb luck, they get paid management fees (2 and 20) to gamble: Please save yourself years of misery.

Re: I am done. I give up

#963

Post by ComodoHacker »

melenaboija wrote: post #266
kubb wrote: post #133

Earlier quoted context omitted.

One of the privileges people don't often think about is being able to afford to fail. If you don't risk destitution after your startup fails, you can try and fail many times, learn and try again. It's like continuously rolling two dice, and you only need to get double sixes once, and after that it's private jets until you die. One of the many reasons the rich get richer and the poor, well you know how it goes.

What I have seen from others (I have not been able to do so) knowing that you can afford to fail beforehand is one of the biggest factors to succeed: - Objectively is not an issue to fail and you know it - It gives you the security to take risky decisions and at the end it is a matter of expectation, bet and see if you win. To me this goes along with the mantra that failing is not bad and you have to do so few times…

It also allows you not to give up on the last mile, when you still don't know it's the last mile.

Re: I am done. I give up

#964

Post by j45 »

rapind wrote: post #704

> It's also the constant stream of digital nomad influencers on Twitter who sell extremely distorted, rosy, and often times false dreams to indie entrepreneurs like myself. They make it seem like building a successful startup is easy and anyone can do it with the right mindset and a few key tips. This is just startup porn. It’s the same in any category (make money flipping houses!, crypto!, etc.) As a rule of thumb,…

Anyone who thinks working from a beach is possible has never tried.

The screen isn't always readable.

And many people who sit nearby aren't working and maybe living and making memories.

Re: I am done. I give up

#965

Post by kwhitefoot »

tosc wrote: post #848
kwhitefoot wrote: post #834

Earlier quoted context omitted.

Arbitrary? Or just things they don't agree with?

Arbitrary in the sense of non-essential things that governments spend other people’s money on. The fact that most people don’t agree is why tax is taken by force.

That's not what arbitrary means. The fact that someone is spending on something non-essential doesn't make that spending arbitrary. Lipstick is non-essential but that doesn't mean the spending on it is arbitrary.

I'm quite confident that a lot of thought goes into pretty much all government spending, even if a proportion is misguided, counter productive, and non-essential.

Re: I am done. I give up

#966

Post by theiz »

PaywallBuster wrote: post #53
theiz wrote: post #29

Starting any business is very very very hard work. Creating a new product from nothing, is very very hard work. Combining the 2 means you have an insane amount of work to do. That leaves you to be CEO and R&D and manufacturing. How do you think marketing and sales fits into that? And finance and strategy? Those are the pitfalls and a reason to better not do startup alone. There are freelance sales people that will se…

> There are freelance sales people that will sell your product for a fee, with the advantages of using their network and their feedback in an early stage of development Can you elaborate on this please?

This is quite common in Europe, not sure on other areas now. These are people that have worked as account manager and decided to start their own business. I know one that has worked for Accenture, one ex Microsoft. They work for a percentage normally and with that it is in their benefit to sell as much of your product as possible. They have their network and knowledge, I liked working that way a lot.

Re: I am done. I give up

#967

Post by oska »

bennysonething wrote: post #874
KETpXDDzR wrote: post #760

Earlier quoted context omitted.

My all time favorite is Robert T. Kiyosaki's book "Poor dad, rich dad". Pretty much everything he teaches about financial success is fiction. In reality he worked a regular 9 to 5 job, failed at starting his own business, and finally made money by selling this book and providing seminars.

You are completely correct. I hate this stuff that's peddled on YouTube, it's pretty simple, ask yourself what do they get out of telling you this if they are making so much money doing it. They are making money selling you courses. What made me more susceptible I think is that my father made his money grinding up, buying a few flats , moving into full on property development. I paid no attention to his business unti…

I appreciated your comment. However with respect to what your Dad told you :

> "son, the bank manager is my boss, he can call in my loans any time"

that would have been true for him (being in property development). But there are people who build successful businesses or just work for themselves who never go into substantial debt and thus are free of any such 'creditor boss'.

Re: I am done. I give up

#968

Post by kasvith »

As a person who is running a startup, I know how hard it is to get there. Its been 2years since we started and still we are working days/nights without even having a single chance to get a vacation or a day off. Only day offs I had was my sick days where I was unable to work at all. This is the reality with starting a business, making a real impact. Its no easy thing to do.

If I look back, we are in a good place compared to where we were...But still it has a long journey to go, tbh I really have no idea we will make it...

Re: I am done. I give up

#970

Post by jokethrowaway »

bencorman wrote: post #815
ipaddr wrote: post #785

Earlier quoted context omitted.

Pathetic to have different political opinions? Is that where some of us has landed. Anyone speaking against my own views are pathetic worthless and worthy of scorn? Then you wonder why society has divided into culture wars and why so much hate exists in the world.

Watching an unwell person publicly spiral into paranoia and conspiracy-obsession and then calling that a "different political opinion" is a pretty bizarre take.

Not familiar with this author and which particularly views he shared - but between COVID passport, COVID being human made, Fauci funding COVID and the FBI paying to hide Hunter Biden's laptop, conspiracy theories are being more accurate than mainstream news.
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