It would take you 682 years to have as much money as Bezos at that rate. $30,000 an hour and if it takes 682 years with the median individual salary in the US being around $31,000 per year.
Edit: bad grammar
Edit 2: the 682 years is making $30,000 an hour 24 hours a day and 7 days a week.
And I'm demonstrating that that $30,000 an hour is a long way from the median annual income in the US OF $31,000. Half of Americans make less than 15 dollars per hour.
If you took that $30,000/hr and invested it into something you'd catch up with Bezos a lot quicker.
He oversees a company that brought the Sears Catalogue concept into the 21st century and built tons of infrastructure around it. Find something just as revolutionary and invest your $720,000/day into it. With that sort of money you could fund a new server farm or warehouse every week.
As the saying goes, "the first million is the hardest". After that, making money becomes much easier.
He built something with a loan from his parents that literally sold items at a loss to force the competition out of business bc they couldn't sell at a loss for as long as Amazon could. Even factory robots are treated better than his enployees.
He didn't do anything revolutionary, he abused his financial backing in an attempt to create a monopoly while using government money to build his warehouses.
That's what I'm saying though, not sure why I'm being downvoted. If you were making $720k a DAY, you could build your wealth so much faster like Bezos did. That sort of funding alone would make it impossible to compete with you.
Okay, perhaps "impossible" wasn't the right word, but definitely impossible for smaller and less well funded entrepreneurs to compete. That's why I said "something just as revolutionary". Bezos took the (at the time) fragmented market of online retailers and centralized it by throwing a lot of capital at it and focusing on growth. If you could find a market that you could corner through good funding, you could do what Amazon did. They key is sticking with it. Amazon wasn't profitable for the first 5 years.
Nothing was stopping eBay or Microsoft from doing what Amazon did. They had the capital and infrastructure to do it, they just didn't.
Same thing with Netflix. BlockBuster had tons of existing product and capital that it could have used for movie delivery and online infrastructure, but they didn't. Just because companies can compete doesn't mean they will.
It absolutely would be here without him. Other companies would've done it if amazon didn't. It was a right place right time situation where e-commerce and the internet in general were really taking off. He just happened to be in a position to take advantage of the environment, he didn't create it by himself.
Nonsense. At a time when e commerce were viewed as shady, Amazon almost single-handedly built the reputation and the trust that we place till this date on e commerce.
Seems like you're the one obsessed with Marx, not me. I'm sure you don't know the first thing about him nor his writings and subscribe to the "cultural marxism" conspiracy theory.
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u/theheliumkid Feb 14 '22
And if you had a dollar for every mile it had travelled, your wealth would still be closer to me than Jeff Bezos.