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
this post was submitted on 25 Oct 2024
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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.
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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.
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.
Gradually inflating the currency
Gradual inflation that happens under the national growth rate is fine. You need more currency moving at a faster rate in an expanding economy.
Gradual inflation in a contracting national growth rate is a huge problem.
Thomas Picketty lays this all out mathematically in "Capitalism in the 21st Century", and builds a strong economic case for a high graduated tax rate as a means of tying inflation back to real economic growth.
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!
You don't have to go that fast. Rockefeller rarely accused money at all, he was pretty slow at it.
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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
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Big brain chuds: But what if you used that money to exploit the labor of others?
This is a few years old but still a good visualisation:
https://mkorostoff.github.io/1-pixel-wealth/
Start scrolling.
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.
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