Big brain chuds: But what if you used that money to exploit the labor of others?
this post was submitted on 25 Oct 2024
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I mean its worse than that. Youd need to work at a rate of 16,600/hr, 24 hours a day for 2,000 years to get even close to Elon Musk
I bet for a long while you'd be like, "What even are dollars?", since they hadn't been invented yet.
Nevermind dollars. What about inflation? $5000/day in 1900 would be worth $187,000 today. That's $68M/year.
You'd need, what? 15 years to get a billion at that rate. You'd also be accusing money faster than Rockefeller.
I have to wonder where all that wealth would even be coming from.
I think you have to deflate to the year to make it equal to $5k today. For instance, if we go back to 1635, we're looking at $131.62/day
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In a video game, whatever allowed them to become billionaires would have been called an "exploit" and would have been nerfed in the next patch.
In '00s games, sure.
In '20s games, it would be part of the Pay2Win scheme and only available to players who have rich parents.
Okay so then how is he worth that much?
These memes and stories are like, "its unbelievable that Bezos is worth so much money", no it makes perfect sense!
Okay so then how is he worth that much?
Easy: He birthed himself into a rich family. Classical self made billionaire
But his parents weren't super rich billionaires, were they? No one had a hundred billion dollars before, he didnt get it all from his parents, where did he get it all?
Amazon has been really successful in several domains and he's owned a lot of it from the start
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The answer is hard work.
Not his own hard work, obviously, the the hard work of the workers he exploited
Totally agree. How does the hard work become his hundreds of billions?
amazon grows its revenue → amazon stock value increases → amazon share holder richer
Many companies also pay dividends directly to the share holder but iirc Amazon has preferred to reinvest in growth
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Although if you did earn $5k per day and managed to invest at a yearly return of 3% above interest, you'd have about $41 trillion
At 1% above interest you'd just have $3.6 billion so invest wisely
(edit, corrected the numbers)
But if you made just 3% interest on your money as you deposit $1,825,000 annually, over 532 years, you'd end up having $410 trillion dollars or more than 2,000 bezos.
yeah but 1.8 mil 532 years ago would have been valued like billions today. so you still need to be a billionaire to become that rich
Not really with that amount of time. Suppose you put away $1,000 a year for 532 years, at 3% you still end up with $225 billion.
The deposits are completely dwarfed by the compounding interest. If you only start with $1,000 and add nothing else but let that original $1,000 compound at 4% you'll have over $1 trillion.
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Interest is insane when you think about it
you just need to have unlimited time, at 3% annual interest, it takes 77.89 years to 10x your money. it just happens that 532 years is 6.8 times 77.89 years, therefore you would just put a 1 million multiplier on your money anyways. And putting 1 million multiplier on 1 million dollars is enough to become a trillionaire anyways
At 3% interest, you double your money every 23.4 years, how many 23.4 years do you have?
That's why it's smart to park money in high-interest assets (like index funds). Of course, you need to be in a position to save money.
And in a position to be able to lose it. High interest are high because they are risky, so they have to pay well to attract investing. If you already have enough money to burn, you can put money into various high risk areas and win overall. If you only have enough to sink it into a single source, you could gain. Or not.
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Yeah, I had to go down to 3% for it to even make sense.
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2000 Bezos or about 4x the GDP of the planet.
People just need to invest and stop blaming others for being broke SMH.
Invest one penny at 3% per year, who can't afford one penny? You'll have $68 billion in just one thousand years. Poverty is a choice.
This shit right here is why ancient Vampire Investment Bankers are so insufferable.
Specially the ones who invest in BiteCoin
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This is a few years old but still a good visualisation:
https://mkorostoff.github.io/1-pixel-wealth/
Start scrolling.
Wow. This is another level of doomscrolling. Very educational though
Does anything happen after "we cannot accept this level of inequality any longer" ? I stopped at 500 billion.
No. It just keeps scrolling and eventually stops at 3.2 trillion
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kinda makes you think. billionaires should not exist.
100% and, more so, thats not just a billion in cash, of course. Thats a billion dollars worth of stuff that makes you money, that can be sold off for at least a billion, most likely far more.
When people read these valuations, they often think to themselves "surely they can't be worth that much" and they're right. It will always be much, much more. Other than Trump, wealth valuations are always very, very conservative, due to the nature of how they do it, and thats before we get to the fact that they're only estimating their wealth on the assets that are publicly disclosed.
Virtually everyone fails to grasp exactly how large of a number a billion is. It’s so, so much bigger than the ”very big number” people think of when they hear the word.
A million seconds is a little over 11 days.
A billion seconds is a little over 31 years.
Billionaires should be required to count out their dollars individually every few days.
The difference between one million and one billion is roughly one billion.
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Huh. Based on this online calculator(https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator), if i earn £5000 everyday in 1493(Cuntopher Columbus start his slave trading voyage in 1492 i think), i would have £1,825,000, which in today money is roughly £1,813,589,780.47, that's just for a single year.
Kinda made me the richest immortal in the world.
If you're going to adjust the final amount for inflation then you need to adjust the £5000 for inflation so in 1493 you would only be earning £6 per day.
Was Columbus trading slaves?
He enslaved people as he travelled
https://edition.cnn.com/2020/06/12/us/christopher-columbus-slavery-disease-trnd/index.html
Didn't everybody back then?
I'm sure it was very common. But that's whataboutism and it's definitely worth noting.
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I don't think the original poster meant you to 'adjust for inflation'. Good thinking tho!
that is obviously just an analogy for the huge time span. $5000/day meaning at the current value
Yes, under those conditions you'd have about $969 million: 531 years since 1493. $5000 x 365 = $1825000 per year x 531 = $969,075,000
According to this article Jeff Bezos makes $595,728,000 a week (holy shit), so even if you were Methuselah earning $5000 a day, he'd still have more money than you after two weeks 😱
As in Jeff Bezos's assetts appreciate at 600M a day. To reiterate the OP's point.
That is a dangerous amount of power concentration.