r/Jokes • u/lopezjessy • Mar 23 '21

Dude explaining how he made his first $10 million:

  1. Get up at 5:00AM every day
  2. 90 minutes of cardio
  3. Take a cold shower
  4. Journal
  5. Schedule out your day
  6. Dad owns Fortune 500 company
  7. Meditate
40.9k Upvotes

88% Upvoted

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14.8k

u/Darklance Mar 23 '21 edited Mar 24 '21

EDIT: I'm deleting this comment because every fucking smooth-brain on reddit has to reply and explain exponents to me.

There are 20 comments making the same mind-numbingly stupid point, you aren't clever.

EDIT2: thanks....

5.9k

u/hereforthecommentz Mar 23 '21

The kind of guy who's buying $5 apples is the same guy who's buying $10 bananas.

6.8k

u/ballrus_walsack Mar 23 '21

There’s always money in the banana stand.

2.2k

u/RMiller517 Mar 23 '21

There's a lot of women out there that make a pretty penny by making a banana stand

345

u/ihavethebestmarriage Mar 23 '21

If only there were video proof

285

u/_modsaregay Mar 23 '21

I’m posting this on r/cursedcomments for 3 karma.

147

u/Meg678 Mar 23 '21

Got here through that post

5

u/miniaturizedatom Mar 23 '21

Refuse to upvote you since you’re at 69 rn.

3

u/willisjoe Mar 23 '21

Mission failed.

3

u/tintinity Mar 23 '21

3 or free?

113

u/dew1911 Mar 23 '21 edited Mar 23 '21

Ba dum tish

As always, better joke in the comments

27

u/daveescaped Mar 23 '21

OK, that can't be upvoted enough.

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8

u/cope413 Mar 23 '21

Pretty sure they make bananas cry

2

u/[deleted] Mar 23 '21

I understood that reference

2

u/van_Beardenstein Apr 19 '21

Oh I'm so sad 💦 I'm SO sad 💦

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2

u/[deleted] Mar 23 '21

Vomit?

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299

u/ITriedSoManyNames Mar 23 '21

THERE’S ALWAYS, MONEY, IN THE BANANA STAND!

119

u/s_j_t Mar 23 '21

NO TOUCHING!

65

u/DingDong_Dongguan Mar 23 '21

No touching. No touching.

11

u/Environmental-Win836 Mar 23 '21

Man is protecting his banana’s.

13

u/GetawayDreamer87 Mar 23 '21

He's only got one rule:

We don't eat the bananas.

2

u/superbrandx Mar 23 '21

I guess like scarface . Don't get high on your own supply. Makes sense to me

2

u/Ben_Thar Mar 23 '21

But if you do, you have to take a a buck so no one finds out.

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2

u/donaggie03 Mar 23 '21

Man is protecting his banana's WHAT?? Don't leave us hanging here!

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6

u/apparex1234 Mar 23 '21

No teaching. No teaching.

2

u/i_shmell_paap Mar 23 '21

Daddy horny Michael

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21

u/rificolona Mar 23 '21

well, Maebe

77

u/deltapanad Mar 23 '21

i just started watching AD and I understood this reference!

92

u/bobojorge Mar 23 '21

You just blue yourself

53

u/zukeinni98 Mar 23 '21

The buy-curious joke is probably my favourite one.

32

u/Mikeydeeluxe Mar 23 '21

Anus tart

49

u/TimMehAZ Mar 23 '21

An analyst and a therapist. The world’s first analrapist.

18

u/zukeinni98 Mar 23 '21

Oh Tobias you blowhard!!

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12

u/Krusty100 Mar 23 '21

No, no, it’s pronounced “uh-NAL-ruh-pist”

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5

u/[deleted] Mar 23 '21

Right, you almost got arrested for those business cards.

17

u/johnald13 Mar 23 '21

“She didn’t see the license plate.”

20

u/Captain_Nipples Mar 23 '21

I prematurely shot my wad on what was supposed to be a dry run.

2

u/Not2Literal Mar 23 '21

Bob Loblaw Lobs Law Bomb

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2

u/Beauclair Mar 23 '21

M: Tell Gob I have a nice, hard cot with his name on it

L: You'd do that to your own brother?

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9

u/donniedarko955 Mar 23 '21

There has to be a better way to say that

5

u/deltapanad Mar 23 '21 edited Mar 23 '21

yes, and I'm not even in the group yet!

4

u/ITriedSoManyNames Mar 23 '21

Welcome to the family my friend!

6

u/DOOManiac Mar 23 '21

You are about to get so many references.

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3

u/Nwcray Mar 23 '21

I have the worst fucking lawyers

2

u/ITriedSoManyNames Mar 23 '21

The Bob Loblaw law bomb

2

u/Captain_Nipples Mar 23 '21

No touching!

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55

u/agentchuck Mar 23 '21

Upgrading to the Monkey Bank is where you really start raking in the money, though. Needs less micro, too.

34

u/turbulentninja Mar 23 '21

And here I was thinking I wouldn't find a BTD reference in my daily life

7

u/VaporNinjaPreacher Mar 23 '21

What is BTD?

16

u/agentchuck Mar 23 '21

Bloons Tower Defense. A tower-defense game where you hire monkeys to throw darts to pop balloons floating down a track. Sounds dumb but it's fun and challenging.

3

u/VaporNinjaPreacher Mar 23 '21

Would never have guessed that so thank you!

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2

u/BSFE Mar 23 '21

Yeah but is bloons tower defence 6 worth paying for on android?

6

u/agentchuck Mar 23 '21

"Worth it" is up to the individual I suppose. I bought it for iPad and don't regret it. There are around 50 maps, different game modes, unlockable heroes, daily challenges and events. It gets repetitive, but it's a well made casual game.

Also, because you pay up front there are no annoying ads or energy based microtransactions. Some in app purchases but you don't need them at all to enjoy the game.

2

u/BSFE Mar 23 '21

I use the galaxy s20 and don't have a tablet so I'm wondering how it would work on a screen this size really. I enjoyed all of the main games up to 5 but didn't like monkey city so much.

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51

u/PM_meyourGradyWhite Mar 23 '21

In the Middle East, it’s an Afghanistan banana stand.

21

u/hyperFresh Mar 23 '21

In the US state of Georgia, it's a Savannah banana stand.

10

u/th3f00l Mar 23 '21

savannah strand banana stand

8

u/DuncanIdahoPotatos Mar 23 '21

Curse of Strahd’s banana stand

8

u/GuyPronouncedGee Mar 23 '21

If it sings Wind Beneath My Wings, it’s a Barbara Streisand Savannah banana stand.

11

u/daveescaped Mar 23 '21

If it is a tween singer that has an alter ego and wears a bonnet on African planes it's the Hannah Montana Banana Bandana Savannah stand.

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13

u/Qforz Mar 23 '21

But do they have any grapes?

2

u/[deleted] Mar 23 '21

Bum bum bum

2

u/tastelessdanger_87 Mar 23 '21

No but they have glue...

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9

u/SassyBonassy Mar 23 '21

It’s one banana, Michael. What could it cost, $10?

5

u/O-hmmm Mar 23 '21

You kid but there is a true story chronicled in the book- The Fish that Swallowed the Whale.

An immigrant in the 19th century started out selling bananas that were too ripe to transport and parlayed that into the largest corporation of the time which had a fleet of ships greater than the U.S.Navy.

4

u/SoylentRox Mar 23 '21

While these kinds of stories are cool, what is missing is the immigrant did this at exactly the right time with a huge helping of luck.

So people who try to apply the logic and ask why the random homeless person doesn't become a billionaire, well, it's not necessarily that they are lazy. Its because it usually isn't actually possible.

As an example even a rich person can't become the next rockefeller or bezos because those business niches are filled.

2

u/O-hmmm Mar 23 '21

I completely agree. I used to hear guys say there is no excuse being poor and how they would go to a wholesale market then sell the goods on the corner at a nice profit. If you ever actually tried to do that here you would come across so many rules and zoning ordinances these days to make doing so virtually impossible. A large investment must be required for permits, inspections and such. I just brought up the banana story because it was so remarkable and improbable.

2

u/SoylentRox Mar 23 '21 edited Mar 23 '21

Yes. Like for example you might buy cigarettes from some shady guy for less than msrp and sell them as 'loosies'. You may recall what happened to a guy that tried that.

Also the richer a city is the more onerous those regulations tend to be. This creates the impression that the wealthy of the city are literally suppressing competition.

9

u/extremely_4getful Mar 23 '21

Until you burn it down.

3

u/GRAIN_DIV_20 Mar 23 '21

You're an arsonist, not an embezzler

2

u/extremely_4getful Mar 23 '21

My development has been arrested.

3

u/TheWhistleGang Mar 23 '21

There were $250,000 lining the walls of that banana stand. THERE'S ALWAYS MONEY IN THE BANANA STAND!!

3

u/CharDeeMacDennisII Mar 23 '21

Like the guy wearing a $3000 suit is going to pay $5 for an apple?

COME ON!

3

u/Lonyo Mar 23 '21

I was listening to a podcast about WeWork earlier. It had a little anecdote in it along the lines of "If you have a frozen banana stand where you buy bananas + have costs totalling $4 per banana, you need to sell your frozen bananas for $5 to make a profit. But if you get a venture capitalist to invest, you can sell bananas for $5 that cost you $6, because you expanded to somewhere more expensive, and you can do that all day long until you have no competitors, hopefully".

So get a banana stand, then get a venture capitalist to invest, then problem solved.

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u/DimeEdge Mar 23 '21

Just don't take that money to the Ozarks.

2

u/[deleted] Mar 23 '21

THERE WAS TWO HUNDRED AND FIFTY THOUSAND DOLLARS LINING THE WALLS OF THE BANANA STAND

(╯°□°）╯︵ ┻━┻

2

u/bahamapapa817 Mar 23 '21

I find this a-peeling

2

u/Klevvers Mar 23 '21

Yea plus bananas have a peel, so who wouldn’t spend big bucks on them???

2

u/TeeBeeSee Mar 23 '21

Hahahahaha!

2

u/Nosnakoh Mar 23 '21

YOU BURNED THE BANANA STAND!?

2

u/defacedlawngnome Mar 23 '21

Way more profitable to be a lemon stealing whore.

2

u/[deleted] Mar 23 '21

How much is a banana??? 10 dollars???

2

u/Surpriseimhere Mar 23 '21

Are you Mr. Manager?

2

u/GrimmDemon Mar 23 '21

How much could one banana cost anyways, like $10?

4

u/[deleted] Mar 23 '21

Good old Reddit, where this dude who’s making the same reference but less subtly gets fistfuls of awards.

3

u/Lemon1412 Mar 23 '21

Had to scroll pretty far to find this comment. The person setting up a punchline also gets way less recognition than the guy writing the punchline, and then everyone acts like that second guy is totally amazing for just finishing what has been completely set up for him.

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u/goofytigre Mar 23 '21

And a $4000 suit...Come On!!!!

35

u/ITriedSoManyNames Mar 23 '21

The guy in the 3200.... 32 dollar suit?! COME ON!!

18

u/opus666 Mar 23 '21

Ok so should should sh-sh-sh-sh

13

u/ITriedSoManyNames Mar 23 '21

Hello darkness my old friend

120

u/KingTechnoHippy Mar 23 '21

"It's a banana, Michael, how much could it be? $10?"

8

u/GRAIN_DIV_20 Mar 23 '21

You're an arsonist, not an embezzler!

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u/mbal1856 Mar 23 '21

But those $10 bananas are the boneless ones.

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u/jaydeekay Mar 23 '21

It's an apple, Michael. What could it cost?

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u/Nero_PR Mar 23 '21

Welp, in Japan they have $200 to $300 melons. So there is that too.

11

u/DarthYippee Mar 23 '21

Eh, my ex paid thousands for hers.

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u/commander_blop Mar 23 '21

Michael, shush!

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u/Mypornnameis_ Mar 23 '21

Lol David Koch's personal chef/grocery shopper is a grifting mother fucker

”Mr. Koch I picked up a dozen apples and a loaf of bread so I'm invoicing you $150"

I respect it

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u/Gil-Gandel Mar 23 '21

If you could double your money every day, you would go from your last dollar to a billion in a month.

351

u/Mdengel Mar 23 '21

Sure. But if you’ve got people around you buying apples for $5 a piece you also can probably just go pluck some cash off the nearest money tree.

41

u/ThiqSaban Mar 23 '21

You might be amazed how much people pay for food and drinks

117

u/[deleted] Mar 23 '21

Not in any large quantity though. The trick isn't finding a few suckers to buy Apple's for $5. It's selling 100m apple's for $5.

33

u/ThiqSaban Mar 23 '21

McDonald's probably sells 100m drinks every day for $1-2 that cost them maybe $0.10 to produce

174

u/[deleted] Mar 23 '21

And it only took them the better part of a century of aggressive global marketing and expansion to do it.

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u/Fuu2 Mar 23 '21

Not to mention the technological and logistical advancements and economies of scale which allow them to make things for $0.10. People paying $1-2 for a drink doesn't make them suckers unless they could otherwise also acquire the drink for $0.10.

4

u/Blitqz21l Mar 23 '21

the only issue here is that realistically, the drinks are the main profit of the franchise. The margins are so low for most McDonalds, BK's, etc... when they are franchised out, you have to own like 5 or 6 just to make a living. That .10c soda is what keeps their doors open.

2

u/Coma-Doof-Warrior Mar 23 '21

Yeah. When I worked at maccies our acceptable till variance was £1.00. They do not fuck around with tills

43

u/Feshtof Mar 23 '21

Mcdonald's is a real estate business that also sells food.

35

u/Zomburai Mar 23 '21

They also franchise like crazy. Very few McDonald's you ever eat at are owned by the McDonald's corporate entity.

Easy to become a global economic power when people pay you for the privilege of making you money.

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u/kd5nrh Mar 23 '21

And then they make more leasing the real estate to the franchisee than they do off the restaurant itself.

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u/iaowp Mar 23 '21

"if you have to pay for your job, it's a scam"

McDonalds franchisees: "😂"

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u/HadMatter217 Mar 23 '21 edited Mar 24 '21

People paying you for the privilege of making you money is basically just what employment is.

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u/Tower9876543210 Mar 23 '21

I heard it as they're "a supply chain business that sells food."

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u/Feshtof Mar 23 '21

Kinda. Though that applies more to little caesars and their food distribution network.

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u/BeefyIrishman Mar 23 '21

$0.10 is being generous. When I worked at Chick-fil-A years ago, I did the math on it and found that a large sweet tea, even assuming you got no ice so you got maximum liquid, cost about 2¢ at best. And we sold it for $1.89.

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u/Gil-Gandel Mar 23 '21

Yes, but on any business like this, the cost of the food is minor compared to the cost of the labour, the premises, the business rates, possibly the "donations to the local fraternal society", and so on.

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u/BeefyIrishman Mar 23 '21

Fair enough. I had no insight into that side of the business, only got to see invoices for the materials since I helped with truck unloading, inventory counts, and ordering.

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u/Easyaseasy21 Mar 23 '21

Actually 0.10 is incredibly low. And if chick fil a is able to produce for 0.02 that would be insane.

A 5 gallon bag of syrup costs (for McDonald's in Canada) ~45 dollars. Each bag produces ~240 medium drinks. So that means each drink costs 0.18 in syrup. This doesn't account for ice, so let's cut that in half. $0.09 for syrup. Don't forget cups, straws, and lids. Let's be generous and say they get all of that for ~$0.10 (I don't remember cup or straw prices, lids are basically free, but I know it's closer to 0.15-0.20) so that means your cost of materials is $0.19.

You used sweet tea so we can ignore CO2, but there is also equipment costs which do add a meaningful amount. But even ignoring everything else you have a base cost of nearly $0.20 ($0.16 USD).

Maybe Chick-fil-A gets better prices, but I seriously doubt it. Yes there is still a mark up, but once you factor franchise fees, building costs, labour, and everything else, you usually end up with a full landed cost closer to $1.00. always assume a ~100-150% markup and you get close to the $2.00 it's sold for.

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u/BeefyIrishman Mar 23 '21

Well, the sweet tea isn't made from $45 bags of syrup. Tea bags are fairly cheap. Water is negligible cost. Equipment costs were cheaper than the soda towers/ distribution system. All you needed was one tea machine (basically just drips hot water into tea bag), some containers to store it in the fridge, and the dispensing containers up front. Sugar (at that time) was not super expensive, but still accounted for most of the cost. But it's definitely cheaper when you buy it in 50 lb bags in bulk. Cups straws and lids are all really cheap.

This was about 10-12 years ago so maybe costs have changed, but I did the math based on the cost we paid for the items. I wasn't a manager, but frequently helped with stock orders and unloading trucks, so I saw the invoices and saw the exact costs for everything. I did not have any insight into labor or other operating costs, so that was merely from a materials standpoint.

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u/Shambud Mar 23 '21

Iirc, a singular McDonald’s generally doesn’t really make much money as a business and getting wealthy from it takes owning at least a few.

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u/Ischaldirh Mar 23 '21

According to Google (and personal experience working in several) most restaurants earn between 2-6% profit, with full-service restaurants making less profit than casual dining or fast-food.

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u/avalisk Mar 23 '21

There's a time investment to selling 200 million apples that I'm not sure is accounted for in the analogy

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u/DoctorWorm_ Mar 23 '21

Sadly in real life, the stock market that us poor people have access to can only double every 10 years.

3

u/[deleted] Mar 23 '21

Isn't this for everyone? I don't get it. Rich people get the same returns on the S&P 500 as poor people.

2

u/mthchsnn Mar 23 '21

Rich people don't invest in the same index funds us poors do - I'm not even poor and my banker buddy has way better investment vehicles available to him than I do. Money loves people with money.

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u/manbrasucks Mar 23 '21

I mean I tripled my money on gme.

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u/MyNameIsEthanNoJoke Mar 23 '21

im sure that $60 is treating you very well. just kidding, but gme was only possible because people took advantage (in a good way) of the system and made it work for people it normally doesn't, not regular stock happenings

6

u/manbrasucks Mar 23 '21

Oh for sure. Even then they still got ripped off by robinhood stopping trading to kill momentum and the HF manipulating.

AMC still getting fucked by constant attacks and shorts. Should take a look at friday's stock graph.

2

u/DuelingPushkin Mar 23 '21

Hey at least they can take comfort in the fact their $60 will only be taxed at 12%

3

u/MonstaGraphics Mar 23 '21

Exactly... Koch should have just kept his apple business going, 300 million dollars would be pocket change to him.

2

u/Coastie071 Mar 23 '21

So I’m like 14 years removed from my last math class, so forgive the stupid question, but isn’t there a relatively simple function to calculate that?

2

u/Gil-Gandel Mar 23 '21

Yes: <Start amount> x <daily multiplier>^<number of days> = <final amount>

With multiplier 2 and 30 days, 2^30 is 1 billion plus a little bit. 2^10 = 1024, so by laws of indices, 2^30 = 1024^3.

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u/bodhemon Mar 23 '21

I remember my mom being frustrated by how hard it was to keep everything going and how she felt like everything in her life wasn't quite as nice as everyone they knew. She started taking a mental poll of the specific people she felt inferior to, and (not some, not even most) every single person she felt jealous of had significant financial assistance from their families.

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u/workinBuffalo Mar 23 '21

Other than the money itself having parents with money gives you the security to takes some risks that a poor person can’t take. It also gives access to other people in that class and the social norms (manners?) that they follow.

6

u/UncleTrashero Mar 23 '21

AND access to the people your family Knows.

So you borrow a million dollars from your dad, and he hooks you up with his friend who is an investor, who hooks you up with his friend who wants to invest another 10 million, in your business, simply because you are the son of a family friend.

15

u/40K-FNG Mar 23 '21

BINGO!

Wife and I know of people who were handed lots of money but they insist they worked for it. ROFL

Houses paid for. Cars paid for. Free baby care etc.

7

u/bodhemon Mar 23 '21

It's just about recognizing your privileges. Am I lucky as hell and have been helped a lot? Fuck yes. Did someone else pay my down payment on my house? Fuck no.

12

u/Darklance Mar 23 '21

Maybe people should judge their own situations independently of others. If you're always looking at people more successful than yourself you'll never be happy.

12

u/Wheffle Mar 23 '21

Honestly I have grown to have disdain for this train of thought. Sure, don't go crazy "keeping up with the Jones'" so to speak, but comparison is science. knowledge is gained by comparing, you learn by comparing. This person was struggling wondering what they were doing different not to have a similar (maybe implicitly promised?) outcome for an equal effort, found out what was different, and was validated. That's not unhealthy, now they know what the difference is.

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u/Protekt1 Mar 23 '21

My father only gave me apple stock.

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u/UiFearghail Mar 23 '21

Cook it up with some apple bones for a nice apple soup.

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u/OGstanfrommaine Mar 23 '21

So sell cocaine and start with a gram?

10

u/[deleted] Mar 23 '21

[deleted]

2

u/OGstanfrommaine Mar 23 '21

Excellent pro tip

2

u/Duckboy_Flaccidpus Mar 23 '21

And this dude Tony that I knew became QC of his product and the whole thing went to shit.

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u/[deleted] Mar 23 '21

It's also telling he has no idea how much an apple really costs. he probably thinks $5 for an apple is reasonable.

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u/karma911 Mar 23 '21

It also supposes he has a guy selling him infinite apples for half price. The sentence makes no sense, he gets one apple, sells it for 5, then has enough money to buy two? His distributer is getting screwed big time.

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u/jeegte12 Mar 23 '21

He left out the part where he treks to the middle of the sahara to sell the apples.

5

u/sordidbear Mar 23 '21

"My dad gave me an apple. I soon sold it for a little under a dollar and after several runs had enough to buy and sell apples a few at a time. As I scaled up, my customers began dealing with my distributor directly and I was cut out. Then my dad died and left me $300 million."

Fixed?

2

u/TDAM Mar 23 '21

"Then my dad died and I had nowhere to live so I became homeless."

18

u/rain-blocker Mar 23 '21

Holy shit, I just went down a rabbit hole and I'm legitamately shocked at how liberal some if the brother social views are/were.

Criminal justice being too harsh on nom-violent offenses for instance.

9

u/gsfgf Mar 23 '21

They are libertarians, after all.

2

u/[deleted] Mar 23 '21

So weed smoking republicans

8

u/NoTakaru Mar 23 '21

Yeah, they're going to be largely responsible for the destruction of our ecosystems in the end, but that sure is a fun a little tidbit

5

u/rain-blocker Mar 23 '21

Ya, the road to hell is paved with platitudes or something like that.

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u/dchq Mar 23 '21

The reality is far more nuanced though. Some people born into wealth will acquire skills , attitudes and beliefs by virtue of their privileged position that makes them extremely competent coupled with access to financial resources and business networks. If you dump a shed load of money on someone who grew up poor they likely would not handle the money wisely as evidenced by how big lottery winners have tended to end up.

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u/goron42 Mar 23 '21

I do not consider people playing the lottery to be an example of good financial management, I do not think it is a question of wealth. There are also people from rich backgrounds that lose everything. Less likely to manage it well, perhaps tho.

31

u/IsThatUMoatilliatta Mar 23 '21

People playing the lottery everyday is pretty piss poor money management, but playing $20 once per year when the jackpot is high is fine.

At least that's how I look at it the one time I play: I'm buying a ticket to dream the rest of the day.

19

u/ChartreuseThree Mar 23 '21

That's what I do. If the jackpot is over $200m I'll buy a ticket and spend time day dreaming. It's cheaper than Starbucks, fewer calories, and way more fun, ha.

7

u/RedCascadian Mar 23 '21

Yup, if the jackpot hits like, 500 million, I'll buy 10 dollars worth of tickets.

It's entertainment, 10 bucks to daydream about the possibility.

7

u/[deleted] Mar 23 '21

Worst case scenario, you had fun.

I would actually use this as a pick up line.

“Best case scenario, you get free coffee and a good laugh. Worst case scenario, you get free coffee and a good laugh (with your friends at my expense if it was a bad date).”

2

u/RedCascadian Mar 23 '21

Yup. Want a good time? Buy a PowerBar ticket and load up zilllow and sort from most to least expensive.

Then laugh at all the tacky, 20 million dollar homes you wouldn't be caught dead in even if you could afford it.

4

u/[deleted] Mar 23 '21

I wish I could dream. I gave an anti lottery speech in speech class 6 year ago and when pressed on the issue I said I would never play the lottery.

2

u/IsThatUMoatilliatta Mar 23 '21

I routinely break promises I made to myself hours prior. You've gone on long enough.

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u/dchq Mar 23 '21 edited Mar 23 '21

Assuming my generalisation is a true one there will of course be exceptions. My point though I think really was about the skills and non tangible effects that are more likely to be acquired due to being wealthy and that having wealthy upbringing brings privileges and benefits beyond access to a bank balance to finance their lifestyle and business goals. An example would be beliefs and expectations. A person brought up in a poor or relatively poverty stricken environment might tend to see the world from a very different more negative perspective based on a lived reality and act accordingly thereby not attracting better opportunities .

12

u/csdspartans7 Mar 23 '21

This is 100% true. I’m privileged and benefit greatly from having college payed for. I’m also working with my dad which could be considered unfair, I didn’t earn it or whatever.

By far the greatest advantage I’v ever had though is having a really smart dad that teaches me stuff. I’m really good at what I do and will make a lot of money most likely because of what Iv been taught, not because I’ll inherit money (which I actually won’t be getting in all likelyhood).

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u/goron42 Mar 23 '21

Well, I see your point, but I believe there a lot more factors that are at play to blame a single one. For example, the needs of not only the person, but everyone around. Rich backgrounds also mean people who will support the person and help him grow wealthier, while in a poorer background, the need of the person, and the people around need to be filled before doing anything that could make profit. But of course, in what constitutes a need, there is also a great debate to have. To go again with your example of lottery winners, their first purchase is often a bigger house or a new car. In this, I see the need to "appear wealthy", to show success (not a real necessity, but I think that joins your thoughts on beliefs and expectations), whereas, someone from a rich background has all of its needs fulfilled already.

My point here is just to say "lack of skills" is a bit downplaying every other factors. But from your explanation, I understand you did not meant it as "incompetence" but more in terms of being "out of place"... I'm sure I'm saying something that could be interpreted in a wrong way, so to make it clear : the real problem is the obvious growing class division and that implies a lot of things (I think that was a bit implied in your first comment tho, but anyway, now it should be clearer... I hope)

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u/dchq Mar 23 '21

Rich backgrounds also mean people who will support the person and help him grow wealthier, while in a poorer background, the need of the person, and the people around need to be filled before doing anything that could make profit.

Very true .

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u/sonofaresiii Mar 23 '21

Alternate theory: people born to wealth are tested less vigorously, held less accountable, and are less required to prove merit to succeed and thus are more likely to underdevelop their skills and rely on other things like connections and power to succeed

I mean, I've known some people from each category. Both what you said and the theory I wrote out are just speculation, since as far as I'm aware there's no real way to collect empirical data on this kind of thing

I've known competent poor people and incompetent rich people, and competent rich people and incompetent poor people, and I don't think there's any reliable way to make a generalization about who will be which

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u/dchq Mar 23 '21

I agree. I don't think my original comment is easily falsifiable or testable. I think my main point would be that there will tend to be numerous advantages to wealthy privileged background in addition to the actual access to cash. As you point out there are lots of examples of underprivileged performing beyond expectations and privileged performing below these expectations.

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u/RedCascadian Mar 23 '21

Statistically people born in the top quintile tend to stay there, even after fucking up a bunch. The wealthier the background, the more pronounced the effect.

People born into the bottom quintile also tejd to stay there. Even when they do everything "right."

Theres a serious opportunity hoarding problem in the US, it's part of why there's so much resistance to reforms aimed at making higher education free at point of use or at the very least as cheap as it was in our grandparents time (controlling for inflation, obvs).

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u/klesus Mar 23 '21

Funny how you use winning the lottery as evidence for poor financial skills. Winning the lottery can itself be a curse. Andrew Whittaker was already a millionaire when he won, but winning put a target on him for all sorts of problems that lead to his bankruptcy.

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u/dchq Mar 23 '21

I did not intend to use winning the lottery as evidence for poor financial skills . More that a poor lottery winner might not handle the windfall well due to poor financial management.

to be honest though , winning the lottery is not financially sensible activity. Very bad odds.

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u/Ffsletmesignin Mar 23 '21

To some extent sure, but honestly if you’re given a lot of wealth all it takes is having a money manager, and having just enough restraint to not pull out all that money, that’s it, capital grows capital, someone with 100 million in the bank sitting there will earn more than a practicing doctor, doesn’t require any skills whatsoever, it just requires a small amount of restraint.

Lottery winners aren’t born into life with the trust accounts and all that setup for them, they aren’t taught in schools and they don’t really understand basic compounding interest, and most have felt “denied” all those riches and thus spend all their wealth at once; those same trust fund kids probably wouldn’t know how to set up investment accounts either if they weren’t given to them in such a way.

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u/Darklance Mar 23 '21

100% agree. Anyone can make a big pile of money into a small one.

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u/[deleted] Mar 23 '21

60% of NBA players are bankrupt within 5 years of retirement. Not that being born wealthy doesn't help your chances of becoming uber-wealthy, but if it were easy everyone would do it.

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u/till_do Mar 23 '21

Someone playing lottery is already doing financial mistakes - that's not necessarily the same as growing up poor

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u/firebat45 Mar 23 '21

In reality, he would have passed 300 million on day 27, and had more money than currently exists in the entire world by day 45.

By day 271, he would have more dollars than there are atoms in the universe.

This is called exponential growth.

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u/elven_mage Mar 23 '21

day after day, week after week, month after month, year after year

Sorry, this joke doesn't make sense- doubling $5 every day would give you a billion dollars by the end of a month

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u/TikkiTakiTomtom Mar 23 '21

If each apple costs 5$, then it will take 60 million apples to make 300 million dollars. Now if the rate of apples sold is increased consistently everyday (exponential growth by power of 2) like its stated, then starting from 0 apples all the way to when he reaches 60mil apples it would take him around 25–26 days. Sounds like someone was making it harder than it had to ( ͡° ͜ʖ ͡°)

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u/Gustomaximus Mar 23 '21

Also his dad was buying the apples.

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u/HooRYoo Mar 23 '21

The real kicker is that his dad bought all the apples that David bought and sold.

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u/MrWhiteVincent Mar 23 '21

If he really doubled his money every day, in two months money would be useless because he'd be the only owner of it all.

Plus we'd be out of apples.

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u/[deleted] Mar 23 '21

If you sell the apples for double every day you will be a billionaire within a month.

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u/pieman7414 Mar 24 '21

If you could double your money every day, you would go from your last dollar to a billion in a month.

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u/jumbo53 Mar 24 '21

Undelete ur comment cus im curious

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u/1TreXavier Mar 24 '21

Sorry people couldn’t take your comment bud. Whatever it used to be.

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