Umshy tumshy
Reserve Squad
I wonder how many people who complain about the distribution of wealth buy a lottery ticket hoping to win the big one ?
Millions and millions of them.I always get a good laugh out of them .My wealth was created by investing for decades,I don't buy lottery tickets,I much prefer where the odds are in my favour rather than many millions to one against.
I spend money buying shares,so obviously I am greedy and should be ashamed of myself.They spend a small amount of money and dream,because they are not greedy .Lovely people,all hoping they win millions in an instant,all to be donated to charity no doubt
Don't want to be one of those rich greedy bastards at all,do they?
Theres the thing though - even the euromillions average jackpot is 44 million. Thats a high but reasonable amount of money for someone to have. The issue with out entire monetary system, with the worlds method for dealing out resources is that that sort of money wouldnt put you in the top ten richest people just in our country. To make that list you'd have to win the euromillions again. 228 times.
There is simply no way you can rationalise the distribution of wealth on this planet. A lottery win, hell 50 consecutive wins, doesnt even put you in a bracket where you would be in the appendix to a list of these people.
But to make that kind of money you have to do something that other people value/use a lot.
S.S.R..
Winger
"I counted thousands of grains of rice..."
Could've just worked out the weight and increased accordingly.
*watches to the end*
Oh wait, he does. Aye, he'd be still be counting as we speak otherwise.
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dixonsafc
Striker
"I counted thousands of grains of rice..."
Could've just worked out the weight and increased accordingly.
*watches to the end*
Oh wait, he does.
Yeah he could have done it the first time, didn't need to count it out to a billion
Mad that if he has a trillion, it'll be 7 times the pile at the end.
Yeah he could have done it the first time, didn't need to count it out to a billion
Mad that if he has a trillion, it'll be 7 times the pile at the end.
Didn't watch it.Is it the simple explaination of compounding or exponential growth .
Grains of rice on a chess board,start with 2 grains on square one,then double it until square 64 and it is more rice than the world produces.
Teaches lots of things and has been used for centuries.
Because there are plenty of positive things about capitalism, but that’s a complete waste of capital?
The real life version of it is shares in Coca cola or Wal-Mart mart ( ASDA in the UK) .
Wal mart have had 11 X2 for 1 splits since 1970.Buying 100 then becomes ,200,400,800 do that 11 times. A total of 200,480 if I remember correctly.Coca cola have had 12 X 2 for 1 if I remember correctly in a hundred years. Work it out for yourself buying 1 share in 1919 is worth a bit now.Reinvesting dividends to take more shares rather than cash gives around $23 million value last time I saw a calculation on that one.
Hulkster
Striker
How so?
Bezos' wealth is derived from Amazon. Amazon has literally changed life for people all around the world. His wealth will only keep on growing so long as Amazon keeps on providing services people choose to buy from them.
Hundreds of millions of people make use of its services every day, primarily cheaper more convenient shopping.
It would be very odd if the founder and biggest shareholder didn't become astronomically rich off the back of that.
Because it’s trapped and not being used. The concept of the economic multiplier
I have no problem with capitalism or wealthy people, but having a trillion bucks is beyond meaningless, and actually economically inefficient
A
Actually it isn't,charitable foundations are founded and go on for hundreds of years doing good .
Carnegie foundation was founded around 1905 and still funds many charities today.
Kellogg's foundation around 1935 and funds many charities today
I would think the Bill and Melinda Gates foundation will still be there in 100 years time funding many things.
Once Bezos gets the hang of this wealth lark I would think his foundation will be there in a hundred years time.
You only get rich by helping people and then continuing to help long after your death.
Actually it isn't,charitable foundations are founded and go on for hundreds of years doing good .
Carnegie foundation was founded around 1905 and still funds many charities today.
Kellogg's foundation around 1935 and funds many charities today
I would think the Bill and Melinda Gates foundation will still be there in 100 years time funding many things.
Once Bezos gets the hang of this wealth lark I would think his foundation will be there in a hundred years time.
You only get rich by helping people and then continuing to help long after your death.
Pop
Striker
Is his value not mainly the shares he owns in Amazon? How is it any different if someone else owns the shares?
Hulkster
Striker
He's not just sat on a trillion dollars of cash though is he?
The vast majority of his wealth is made up of the value of his Amazon shares.
If those shares were divided among 100 people then Bezos wealth would fall by 99%, but I don't see how that would make anything more efficient?
Steeeeeeed
Midfield
Just £999,999,999,950 for me to go till I’m there
Fair challenge. I’d argue that the dividend flow and general flow of capital would still be improved, but it’s a fair point
The moral argument of it is obviously another piece
See above
Gates Foundation will have fully spent its endowment within something like 10 years of Bill and Melinda both passing away.
