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Peloton’s former billionaire CEO says he’s lost all his money and had to sell his possessions
(finance.yahoo.com)
this post was submitted on 28 Aug 2024
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Yeah, the thing is - I just don't get it. Like most people likely do, I have thought about what I'd do if I came into a large sum of money, maybe by selling a company, and honestly, the answer is, a relatively normal flat in the city I live in; some travel, but nothing 'luxury', just seeing places I find interesting; giving both to charities I find worthwhile, and my local community; and investing in a responsible way (fuck returns if you get them by investing in oil and weapons, one could argue that investor owned companies as such are a problem, but I'm probably not going to be able to solve that can of worms).
So the difference in my life would be having less financial stress, being able to give back more, and focusing more on family, friends, and hobbies, and I just couldn't imagine blowing through money like that man has.
It may be partially because I saw my father find incredible success, only to spend a lot of it on pointless luxuries before dying in incredible debt, but it also just feels like common sense.
Yeah, I'd sort my life out then spend a load hiring people to work on useful things simply because I want them to exist, open source and creative commons things that exist for everyone.
It'd give me a sense of purpose and something to focus on, mostly things that should exist already like a really good and efficient small washing machine that can be made by any small fabrication company, easily repairable and upgradable so it's cheaper for people living in apartments than using overpriced coin op machines landlords often install in utility rooms.
There are so many ways of making actual positive differences in the world, if people with excess time and money worked on projects like this then everyone could live little better, meaning more people would be able to work on things and life would be better for everyone which would mean that people are less desperate and struggling so places would be safer and nicer which would mean there's more nice places to visit and people are happier so doing more interesting and fun things which means no one would need so much money to enjoy life in a way even billionaires can't afford now.
The good thing is we don't really need rich people because the workers always do all the actual work so by working together as a people we can donthings like create vast networks of informative videos helping each other fix our cars - an example which has already happened and greatly benefitted many people I know and myself.
The weird guy making videos of how to change spark plugs on am obscure old car and getting 40 views is doing far more towards making a better world than then greedy asshole that makes proprietary and subscription based exercise bikes no matter how much money he manages to hoard for himself.
I always say this to that kind of thinking : you will never be in that situation because you lack the sociopathy to get there. You care about your family and your community and you don't have the ability to step on people's head without feeling bad.
That wealth is incomprehensible to 99.99% of the people, and we are just trying to get by comfortably, so we can't imagine spending 55 millions on a home. That generational wealth right there for a damn home.