this post was submitted on 25 Oct 2024
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[–] [email protected] 100 points 5 days ago (2 children)

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.

[–] [email protected] 40 points 5 days ago (2 children)

Our universe is abandon ware?

[–] [email protected] 20 points 5 days ago (1 children)
[–] [email protected] 2 points 4 days ago

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.

[–] [email protected] 9 points 5 days ago (1 children)
[–] [email protected] 12 points 5 days ago

In '00s games, sure.

In '20s games, it would be part of the Pay2Win scheme and only available to players who have rich parents.

[–] [email protected] 129 points 6 days ago (2 children)

This is a few years old but still a good visualisation:

https://mkorostoff.github.io/1-pixel-wealth/

Start scrolling.

[–] [email protected] 29 points 5 days ago (1 children)

Wow. This is another level of doomscrolling. Very educational though

[–] [email protected] 8 points 5 days ago (1 children)

Does anything happen after "we cannot accept this level of inequality any longer" ? I stopped at 500 billion.

[–] [email protected] 9 points 5 days ago

No. It just keeps scrolling and eventually stops at 3.2 trillion

[–] [email protected] 6 points 5 days ago (1 children)
[–] [email protected] 7 points 5 days ago

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.

[–] [email protected] 79 points 6 days ago (3 children)

kinda makes you think. billionaires should not exist.

[–] [email protected] 49 points 6 days ago (5 children)

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.

[–] [email protected] 28 points 6 days ago

The difference between one million and one billion is roughly one billion.

[–] [email protected] 15 points 5 days ago (1 children)

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.

[–] [email protected] 5 points 5 days ago

While having someone scream random numbers at them as they count. Fuck em!

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[–] [email protected] 8 points 5 days ago

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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[–] [email protected] 51 points 5 days ago (1 children)

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

[–] [email protected] 9 points 5 days ago* (last edited 5 days ago)

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.

[–] [email protected] 35 points 5 days ago (5 children)

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.

[–] [email protected] 13 points 5 days ago (8 children)

Interest is insane when you think about it

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[–] [email protected] 11 points 5 days ago (1 children)

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.

[–] [email protected] 8 points 5 days ago (2 children)

This shit right here is why ancient Vampire Investment Bankers are so insufferable.

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[–] [email protected] 6 points 5 days ago (1 children)

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

[–] [email protected] 5 points 5 days ago (3 children)

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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[–] [email protected] 8 points 4 days ago* (last edited 4 days ago) (1 children)

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.

[–] [email protected] 2 points 4 days ago* (last edited 4 days ago)

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.

[–] [email protected] 19 points 5 days ago (1 children)

I bet for a long while you'd be like, "What even are dollars?", since they hadn't been invented yet.

[–] [email protected] 8 points 5 days ago (4 children)

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.

[–] [email protected] 9 points 5 days ago* (last edited 5 days ago) (1 children)

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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[–] [email protected] 13 points 5 days ago* (last edited 5 days ago) (1 children)

That why you should have invested that 969 million usd in bitcoin

/s

[–] [email protected] 5 points 5 days ago

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.

[–] [email protected] 5 points 4 days ago* (last edited 3 days ago) (2 children)

Talking about billionaires ... it almost seems quaint as we barrel towards having actual trillionaires.

[–] [email protected] 2 points 4 days ago

What a failure of society

[–] [email protected] 2 points 4 days ago

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.

[–] [email protected] 8 points 5 days ago

Big brain chuds: But what if you used that money to exploit the labor of others?

[–] [email protected] 6 points 5 days ago* (last edited 4 days ago)

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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