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.
this post was submitted on 25 Oct 2024
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Our universe is abandon ware?
Lemmy discovers deism. ;)
TIL.
This is about as close as I've ever seen anything come to what I believe in. I usually tell people I'm an atheist because it's easier than trying to explain what I actually believe.
This is pretty much spot on. Thanks.
Worse, our society is
In '00s games, sure.
In '20s games, it would be part of the Pay2Win scheme and only available to players who have rich parents.
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
And do not miss https://github.com/MKorostoff/1-pixel-wealth/blob/master/THE_PAPER_BILLIONAIRE.md
Love this guy’s work
I love that this guy decided that GitHub is the place to share his socio-economic essay. Next to a guy who used it for his sourdough guides my favourite use of GitHub yet.
kinda makes you think. billionaires should not exist.
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.
The difference between one million and one billion is roughly one billion.
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.
While having someone scream random numbers at them as they count. Fuck em!
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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.
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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
But if you got $5000 at 0.7% yearly interest rate for 2000 years, you'd get to Musk's wealth. You can only get that high with compound interest with investments, rather than earning money.
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.
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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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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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.
Presumably the same place real rich people get it today. Gradually inflating the currency so that even if they're not directly stealing from you the increase in their wealth comes from the lessening of value of your, mine, and everyone elses money.
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You'd also be accusing money faster than Rockefeller.
It was the 20 dollar bill that killed the butler, with a candelabra in the hall!
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For the curious you'd make 970million in the 532years. Jeff bozos net worth is about 200 billion. You'd need an annual interest rate of about 2.12% to reach 200billion over that period, assuming you spend none of it, if you took an annual income of 20k then you'd only be at 135billion at the end of the period.
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That why you should have invested that 969 million usd in bitcoin
/s
Okay but in fairness if you put like 1% of that money virtually anywhere but under your matress you'd probably be richer than Bezos now. Even at like 3% interest of a $18,250 compunded over 530 years you'd have about half of Bezos' net worth.
Talking about billionaires ... it almost seems quaint as we barrel towards having actual trillionaires.
What a failure of society
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Big brain chuds: But what if you used that money to exploit the labor of others?
Although if you did earn $5k per day and managed to invest at a yearly return of 3% above inflation, you'd have about $41 trillion
At 1% above interest you'd just have $3.6 billion so invest wisely
(edit, corrected the numbers)
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