What's the object-oriented way to become wealthy?
-
Funny you didn’t mention Bill Gates or Jeff Bezos. It’s always the same old story with people like you, never have anything nice to say. Quick to insult. And apparently hate anyone with money. I could list some of the great things Musk did, for instance. But, I’d bet you’d still hate him because of your programming. And I have zero delusions. This is the part where you disagree… because that’s all people do online. Also, a billionaire and a millionaire are not the same thing. You took this post and perverted it into something bad. Shame on you.
Jeremy Falcon
I haven't followed Gates, but Bezos deserves all the scorn that can be heaped on him for his continual lawsuits against NASA and SpaceX. And no, I'm not a Musk fan, but Blue Origin has yet to deliver any orbital systems and SpaceX has not one, but two orbital class rocket systems now. Every time BO has lost a NASA contract they've filed a lawsuit against NASA over their losing the contract to SpaceX.
-
I know it's a joke, but I just wanna say... the vast, vast majority of millionaires are self made.
Jeremy Falcon
Here are six sources that study the effects of luck on success, showing that often becoming rich is a matter of being in the right place at the right time. Not everyone can 'be in the right place at the right time,' because our society is oriented around making money for the few from the many. "The Role of Luck in Success" by Richard Wiseman: In his book The Luck Factor, Wiseman examines how luck and chance play into people’s success and happiness. He presents evidence suggesting that while some people actively create their own luck, a significant portion of success is influenced by being in the right place at the right time. "The Matthew Effect: How Advantage Begets Advantage": Sociologist Robert K. Merton coined the term “Matthew Effect” to describe how initial advantages lead to further success. His work, including papers like “The Matthew Effect in Science,” explores how early success can accumulate and lead to greater opportunities. "Success and Luck: Good Fortune and the Myth of Meritocracy" by Robert H. Frank: In this book, economist Robert Frank discusses how luck and timing contribute to success and challenges the idea that meritocracy alone explains wealth and success. He uses empirical evidence to argue that a significant portion of success can be attributed to factors beyond individual control. "The Impact of Market Timing on the Success of Mutual Funds": Various studies in finance explore how market timing can impact investment returns. For example, research by Eugene Fama and Kenneth French on mutual fund performance often highlights how timing and market conditions can play crucial roles in investment success. "Entrepreneurship and Luck: Evidence from a Field Experiment" by Erik Hurst and Matthew J. Notowidigdo: This paper investigates how luck plays a role in entrepreneurial success. The authors find that entrepreneurial success can often be significantly influenced by random factors and timing, beyond the entrepreneur’s skills and efforts. "The Role of Timing in Business Success": Various studies on startups and business ventures show that entering the market at the right time can be a critical factor in a company’s success. For example, research published in journals like Strategic Management Journal often examines how market conditions and timing influence business outcomes.
-
Here are six sources that study the effects of luck on success, showing that often becoming rich is a matter of being in the right place at the right time. Not everyone can 'be in the right place at the right time,' because our society is oriented around making money for the few from the many. "The Role of Luck in Success" by Richard Wiseman: In his book The Luck Factor, Wiseman examines how luck and chance play into people’s success and happiness. He presents evidence suggesting that while some people actively create their own luck, a significant portion of success is influenced by being in the right place at the right time. "The Matthew Effect: How Advantage Begets Advantage": Sociologist Robert K. Merton coined the term “Matthew Effect” to describe how initial advantages lead to further success. His work, including papers like “The Matthew Effect in Science,” explores how early success can accumulate and lead to greater opportunities. "Success and Luck: Good Fortune and the Myth of Meritocracy" by Robert H. Frank: In this book, economist Robert Frank discusses how luck and timing contribute to success and challenges the idea that meritocracy alone explains wealth and success. He uses empirical evidence to argue that a significant portion of success can be attributed to factors beyond individual control. "The Impact of Market Timing on the Success of Mutual Funds": Various studies in finance explore how market timing can impact investment returns. For example, research by Eugene Fama and Kenneth French on mutual fund performance often highlights how timing and market conditions can play crucial roles in investment success. "Entrepreneurship and Luck: Evidence from a Field Experiment" by Erik Hurst and Matthew J. Notowidigdo: This paper investigates how luck plays a role in entrepreneurial success. The authors find that entrepreneurial success can often be significantly influenced by random factors and timing, beyond the entrepreneur’s skills and efforts. "The Role of Timing in Business Success": Various studies on startups and business ventures show that entering the market at the right time can be a critical factor in a company’s success. For example, research published in journals like Strategic Management Journal often examines how market conditions and timing influence business outcomes.
David I'm not sure you're able to have a rational conversation with me. I don't buy this premise, but for the sake of argument let's say it's correct (not really). The original comment was most millionaires are self made rather than have it be inherited. That has nothing to do with luck upon making said money. Now, since you clearly just want to disagree with me, I'll simply say winners make their own luck. Losers complain. You can say there's luck in not being born in a tiny village in Africa, but if you live in the western world the knowledge is out there. Argue with that. But I will say this, if you know zero millionaires your opinion means nothing to me.
Jeremy Falcon
-
I haven't followed Gates, but Bezos deserves all the scorn that can be heaped on him for his continual lawsuits against NASA and SpaceX. And no, I'm not a Musk fan, but Blue Origin has yet to deliver any orbital systems and SpaceX has not one, but two orbital class rocket systems now. Every time BO has lost a NASA contract they've filed a lawsuit against NASA over their losing the contract to SpaceX.
Thanks for bringing some intelligence to this chat. I'm actually a fan of Musk and welcome any criticism as long as it's not politically charged, biased, etc. Nobody is perfect. I simply wish people wouldn't hate based on what TV tells them to hate when it's the thing to do. I upvoted you btw, because at least you're talking like you paid attention.
Jeremy Falcon
-
So, it's clear you don't take the time to read all my posts before responding. To put this bluntly David, I know exactly who you are. I'm not convinced you have the first clue who I am.
Jeremy Falcon
-
Oh, and since you won't be bothered to read... 1) I said millionaires. Not billionaires. I mentioned they are not the same thing. You gave 4 examples but 1,000s of every day millionaires made their own way. 2) Don't you dare discredit the work they did simply because they came from a good environment. You make it sound like it's so easy to do it. If that's case... go do it yourself. You won't. You can't. You'll just complain. But, let me share with you a truth... it doesn't matter how much money you have, if you have a good idea and vision AND the ability to execute it... the money will find you. Of course, you wouldn't know this in all your jealousy.
Jeremy Falcon
-
So, it's clear you don't take the time to read all my posts before responding. To put this bluntly David, I know exactly who you are. I'm not convinced you have the first clue who I am.
Jeremy Falcon
Jeremy Falcon wrote:
you have the first clue who I am.
From your replies, you are someone who likes looking down on other people. You have no clue how much of your stuff I've read.
Our Forgotten Astronomy | Object Oriented Programming with C++ | Wordle solver
-
David I'm not sure you're able to have a rational conversation with me. I don't buy this premise, but for the sake of argument let's say it's correct (not really). The original comment was most millionaires are self made rather than have it be inherited. That has nothing to do with luck upon making said money. Now, since you clearly just want to disagree with me, I'll simply say winners make their own luck. Losers complain. You can say there's luck in not being born in a tiny village in Africa, but if you live in the western world the knowledge is out there. Argue with that. But I will say this, if you know zero millionaires your opinion means nothing to me.
Jeremy Falcon
Jeremy Falcon wrote:
your opinion means nothing to me.
That's quite obvious, even if I do know any millionaires. You don't want to consider anything outside of what you've already convinced yourself of.
Our Forgotten Astronomy | Object Oriented Programming with C++ | Wordle solver
-
Jeremy Falcon wrote:
your opinion means nothing to me.
That's quite obvious, even if I do know any millionaires. You don't want to consider anything outside of what you've already convinced yourself of.
Our Forgotten Astronomy | Object Oriented Programming with C++ | Wordle solver
You don't. I know. Good bye.
Jeremy Falcon
-
Oh, and since you won't be bothered to read... 1) I said millionaires. Not billionaires. I mentioned they are not the same thing. You gave 4 examples but 1,000s of every day millionaires made their own way. 2) Don't you dare discredit the work they did simply because they came from a good environment. You make it sound like it's so easy to do it. If that's case... go do it yourself. You won't. You can't. You'll just complain. But, let me share with you a truth... it doesn't matter how much money you have, if you have a good idea and vision AND the ability to execute it... the money will find you. Of course, you wouldn't know this in all your jealousy.
Jeremy Falcon
Jeremy Falcon wrote:
you wouldn't know this in all your jealousy
What an 'effin troll.
Our Forgotten Astronomy | Object Oriented Programming with C++ | Wordle solver
-
Jeremy Falcon wrote:
you have the first clue who I am.
From your replies, you are someone who likes looking down on other people. You have no clue how much of your stuff I've read.
Our Forgotten Astronomy | Object Oriented Programming with C++ | Wordle solver
No dude, I'm just "looking down" on anyone who does nothing but lies, hates, can't understand what they're reading when they argue, and complain. And guess what... that's you bro. :thumbsup: You're making the world a worse place... so congrats I guess.
Jeremy Falcon
-
Jeremy Falcon wrote:
you wouldn't know this in all your jealousy
What an 'effin troll.
Our Forgotten Astronomy | Object Oriented Programming with C++ | Wordle solver
Good one dude, you soooooooooooooo got me... Good bye.
Jeremy Falcon
-
Funny you didn’t mention Bill Gates or Jeff Bezos. It’s always the same old story with people like you, never have anything nice to say. Quick to insult. And apparently hate anyone with money. I could list some of the great things Musk did, for instance. But, I’d bet you’d still hate him because of your programming. And I have zero delusions. This is the part where you disagree… because that’s all people do online. Also, a billionaire and a millionaire are not the same thing. You took this post and perverted it into something bad. Shame on you.
Jeremy Falcon
I changed my reply from millionaires to billionaires because anyone who had bought a house in the 1990s is probably a millionaire today merely because of the inflation in the price of homes. (My home was NOT in California which is seeing hyper-inflation in home prices.) To add to that, maxed-out contributions to 401(k) and purchasing company stock through stock purchase plans add to one’s wealth. Anybody in the tech business in the US can become a millionaire by the time he retires, though a million dollars nowadays may not mean what it once did. Anyone who starts his 401(k) plan at age 22 and continues for 45 years would certainly be a self-made millionaire and an ethical and honest one at that. I compare these situations to those in power at Oracle or SAP. False promises that are never kept, continuously forcing upgrades on customers that waste time and money, etc. SAP customers who have customized some of SAP functions to meet their specific requirements are told all of that would have to go by the wayside when they move to the cloud. What happens to their business? The attitude is: cut your feet if they don’t fit the shoe I have sold you. I was working for a high-tech company that had 5 customers in 1996. The total number of customers it had in its entire history is maybe 1200 and its product portfolio over the company’s life was 160. Our revenue was over $800 million so we were a cash cow. A Big 4 consultant recommended that we install SAP. If I had gone along with that, I could have become an SAP consultant a year later and billed out at $300 an hour. I couldn’t see why the company needed SAP. We were the reference site for all semiconductor companies without semiconductor foundries in the Bay Area for our hardware and software vendors. But the consultant asked for $13 million to advise me on how to implement SAP. Right there you could see the ethical conflict. Read about Jeff Bezos’s warehouse workers who can’t even take a bathroom break. Read about the UPS drivers who carry a bottle to pee into. Read the horror stories About the Oracle ERP implementation disaster at Birmingham City Council (UK). Then tell me that billionaires earn their money ethically. I will then know which way your ethical compass points.
-
Nelek wrote:
And it doesn't need a big (a.k.a. rich) amount of money to see that.
Amen to that.
Nelek wrote:
Down 18k€ partially due to listen who I didn't have to. Not everything lost yet, because I didn't sell, companies still exist, but by all means a good teacher.
Funny thing is man, crypto is following the same exact bust boom cycle the web did in the early 2000s and late 90s. It's a tech that isn't going anywhere; it does need to be priced accurately. It's the tulip craze all over again. And, the bust cycle will weed out the losers/phonies in the market. Which is a good thing because it'll never be taken seriously until the phonies are gone. The lesson I had to learn the hard way is, the "less intelligent" the person they more sure they are of something they know little about. They can be very convincing, even if you know better. So, at least you're not alone. :laugh: :laugh:
Nelek wrote:
Forex is only playing with exchange currencies of different lands? Or does it include more? (Just curious, I know I could google but I want to hear it with you instead of a out-of-the-box tipified answer)
This is why I like you man, you're smart. Short answer is yes. Since the likelihood of using using a one-world currency any time soon is zilch, it's an important market for the global economy to help us price imports, exports, travel, etc. Any time you go to a currency exchange shop when visiting another country, they're tapping into the Forex market. Of course as with any markets you also have derivatives, such as a futures market as well. But, there's a lot "less" to it than the stock market. For instance, there's no concept of options in Forex. There's interest that can be paid out, but you don't really get dividends, perks from holding stock, etc. But, it's by far the most liquid market on the planet, for reasons I can elaborate on if you really want. Slippage is not an issue in the Forex spot market. Shorting is no big deal because it's cash and easy to borrow against. Which IMO makes it great for trading. For investing, that's a different story though. The money supply value is essentially the value of a country's economy all rolled up into one. So, kinda like the S&P in that regards but on steroids and fluctuations in it are usually less severe for the popular currencies. Personally, I love it, but it's the wild west compared to m
Jeremy Falcon wrote:
for reasons I can elaborate on if you really want
I would like to, but not now, I am going through a turbulent time in this moment and I do not want to start anything new, if I can't really focus on what I do (even less if it might imply a risk to my economy). I already have all what I have and although it is not good to "fire and forget", it is the only thing I can do while focusing in one, two or max three things until it / they get solved.
M.D.V. ;) If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about? Help me to understand what I'm saying, and I'll explain it better to you Rating helpful answers is nice, but saying thanks can be even nicer.
-
Side note, not sure if you ever read about the [Tulip market bubble](https://www.investopedia.com/terms/d/dutch\_tulip\_bulb\_market\_bubble.asp) in the 16th-17th century. But it's great story to read up on. This whole concept of freaking out over stupid crap thinking you'll print money has been around forever. Nothing new.
Jeremy Falcon
Jeremy Falcon wrote:
This whole concept of freaking out over stupid crap thinking you'll print money has been around forever. Nothing new.
No wanting to start a discussion, but I think that's specially the strategy of the US. Here I might get in the "not informed enough topic that you complain above", though: For me, once the US got out of the "backing money / debts with gold" they got a white card / free ride on pumping the market with new printed bills, everything has been getting wild(er than usually / needed) since that. It currently is not only a problem with the US, of course, a lot of countries do that, but if I am not wrong they were the first stone causing the lawine. Note: I am not willing to enter in politics, it is only an additional comment about the affirmation you said.
M.D.V. ;) If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about? Help me to understand what I'm saying, and I'll explain it better to you Rating helpful answers is nice, but saying thanks can be even nicer.
-
Oh, and since you won't be bothered to read... 1) I said millionaires. Not billionaires. I mentioned they are not the same thing. You gave 4 examples but 1,000s of every day millionaires made their own way. 2) Don't you dare discredit the work they did simply because they came from a good environment. You make it sound like it's so easy to do it. If that's case... go do it yourself. You won't. You can't. You'll just complain. But, let me share with you a truth... it doesn't matter how much money you have, if you have a good idea and vision AND the ability to execute it... the money will find you. Of course, you wouldn't know this in all your jealousy.
Jeremy Falcon
Jeremy Falcon wrote:
Don't you dare discredit the work they did simply because they came from a good environment. You make it sound like it's so easy to do it
Without discrediting them, it does help if you already have a big amount backing you up. The more money you have, the more money you can make or the easier you can make it. Of course the person has to have some sight for it, it is easy to burn wealth too (there are enough examples out there).
Jeremy Falcon wrote:
it doesn't matter how much money you have, if you have a good idea and vision AND the ability to execute it... the money will find you.
and the money to start with is not to be underestimated. Back in college I had a couple of ideas, I even had a very basic concept / design for one of them. I failed because I didn't had the money to continue the development of a physical prototype and to pay a lawyer to file a good patent (the thing had the potential to make millions in my opinion). I tried to find someone to invest in, but I couldn't, at the end some big companies started something similar, so I gave up.
M.D.V. ;) If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about? Help me to understand what I'm saying, and I'll explain it better to you Rating helpful answers is nice, but saying thanks can be even nicer.
-
Jeremy Falcon wrote:
Don't you dare discredit the work they did simply because they came from a good environment. You make it sound like it's so easy to do it
Without discrediting them, it does help if you already have a big amount backing you up. The more money you have, the more money you can make or the easier you can make it. Of course the person has to have some sight for it, it is easy to burn wealth too (there are enough examples out there).
Jeremy Falcon wrote:
it doesn't matter how much money you have, if you have a good idea and vision AND the ability to execute it... the money will find you.
and the money to start with is not to be underestimated. Back in college I had a couple of ideas, I even had a very basic concept / design for one of them. I failed because I didn't had the money to continue the development of a physical prototype and to pay a lawyer to file a good patent (the thing had the potential to make millions in my opinion). I tried to find someone to invest in, but I couldn't, at the end some big companies started something similar, so I gave up.
M.D.V. ;) If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about? Help me to understand what I'm saying, and I'll explain it better to you Rating helpful answers is nice, but saying thanks can be even nicer.
Nelek wrote:
Of course the person has to have some sight for it, it is easy to burn wealth too (there are enough examples out there).
This is what people who know little about money want you to believe. I realize this thread has turned crazy out of of control, but investors are everywhere. If your idea is good enough and you can execute it... the money will find you. You cannot be an introvert and pull it off though, you gotta get out there and talk. Anyone who says otherwise is just sitting behind a computer and never leaving their home. Hell, I've had coworkers want to invest with me just because I was yapping about trading. Anyone saying they can't is just using excuses with zero real experience.
Nelek wrote:
and the money to start with is not to be underestimated.
Again, stop listening to losers who do nothing but hate. They'll poison your mind and waste your time.
Nelek wrote:
Back in college I had a couple of ideas, I even had a very basic concept / design for one of them. I failed because I didn't had the money to continue the development of a physical prototype and to pay a lawyer to file a good patent (the thing had the potential to make millions in my opinion). I tried to find someone to invest in, but I couldn't, at the end some big companies started something similar, so I gave up.
You failed because you weren't educated or driven enough. You can (and should) start any business cheaply. And I promise you that you didn't talk to or know any other entrepreneurs or investors. You can start just about any business for less than 1K, unless it's a brick and mortar store. In your specific case, where a patent needed to be filed, you could've done supplementary business to support it. Any patent wouldn't be more than 10k-20k tops for a single patent. You could've pooled from friends and family. You could've taken on a partner since 50% of something is better than 100% of nothing. You know who I learned that from? A wealthy man in real estate who was one of my mentors - for free. Just a good guy sharing the love. And assuming this was before 3D printing, manufacturing a product is the worst starter business to do unless you, again, know people. Which means, stop being introverted. Even if you had the prototype, you'll run into a lot more issues with the manufacturing process if you're new. Again, a supplementary business would'
-
Jeremy Falcon wrote:
This whole concept of freaking out over stupid crap thinking you'll print money has been around forever. Nothing new.
No wanting to start a discussion, but I think that's specially the strategy of the US. Here I might get in the "not informed enough topic that you complain above", though: For me, once the US got out of the "backing money / debts with gold" they got a white card / free ride on pumping the market with new printed bills, everything has been getting wild(er than usually / needed) since that. It currently is not only a problem with the US, of course, a lot of countries do that, but if I am not wrong they were the first stone causing the lawine. Note: I am not willing to enter in politics, it is only an additional comment about the affirmation you said.
M.D.V. ;) If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about? Help me to understand what I'm saying, and I'll explain it better to you Rating helpful answers is nice, but saying thanks can be even nicer.
You will be delighted to know, buddy.... I 100% agree with you. How often does that happen online? :laugh: :laugh: :laugh: I am not a fan our (the US') fiscal policies at all. I think we took something good and perverted it and screwed it up. History repeats itself as the wrong people continue to get into power. And without getting political, that's all I'll say about that. :laugh:
Jeremy Falcon
-
Jeremy Falcon wrote:
for reasons I can elaborate on if you really want
I would like to, but not now, I am going through a turbulent time in this moment and I do not want to start anything new, if I can't really focus on what I do (even less if it might imply a risk to my economy). I already have all what I have and although it is not good to "fire and forget", it is the only thing I can do while focusing in one, two or max three things until it / they get solved.
M.D.V. ;) If something has a solution... Why do we have to worry about?. If it has no solution... For what reason do we have to worry about? Help me to understand what I'm saying, and I'll explain it better to you Rating helpful answers is nice, but saying thanks can be even nicer.
That's the smart approach man. Focus on one or two things and master them. Forget the rest... master something and be better than everyone else at it. Wishing you the best of luck with it.
Jeremy Falcon
-
… the vast majority of billionaires are self-made snake oil salesmen. FTFY. Eg. Oracle and SAP. And Elon Musk with his self-driving automobiles.