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.
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.
Interest is insane when you think about it
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.
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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?
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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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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.
so i couldn't even spend any of it ?
that's rubbish billionaire. unless i could use it to leverage banks to give me loans off of national credit programs.
and still then i'd just prefer not to.
i feel badly for people who can't get ever seem to get enough.
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
I have a hard enough time getting my head around how much money $100B is already. Like, I don't even see numbers above the hundreds of thousands ever (usually on loans, like my mortgage), so the idea that some of these people could buy my house 100,000+ times over, and I will spend years, paying for it once, is hard enough.
Wealth hoarding has gotten way out of hand.
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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