Active Thinking Topic 94 - Do You Want $1 Billion?
25, 29 October 2024
[Find us: Look for a black yoga polygon on the table. $2 donation]
Recommended Viewing: Jack Chapple (23 Oct 2018) "Want to Be a Billionaire? Here's What You Have To Do." @ https://www.youtube.com/watch?v=MnqO-4ShbMs [Note: You don't have to agree with this guy. He'll give your ideas a start ...]
Talking Points
1. Do you want to earn $1 Billion, or do you want to spend $1 Billion?
2. Why will more people sacrifice more for money than for almost anything else? [e.g. they sacrifice time, freedom, honour, other people's lives etc.)]
3. Why is money such an inseparable part of social status world wide for so many people? [e.g. they may despise intellectuals of various kinds, or technocrats, or what they suppose to be "the deep state", but rarely money ... Elon Musk stands with Donald Trump at a rally ... ]
4. What is your own price? How much money do you need to live a satisfying life? What will you sacrifice to get that?
5. Five economists in a room will have five different opinions.Why is there so much public confusion about how money works in governments (Vs how it works in personal budgets)? Governments world wide can only influence economies in very crude ways and often lose control. Voters typically blame governments for 'economic failure' no matter whether a country is doing OK or badly.
6. Cash is disappearing. Why? What is the cost to a business of using cash? What is the cost to you in privacy and wealth of not having cash?
7. Wealth is somewhat different to just money. What are other forms of wealth. How much do you value them?
8. Suppose you actually do want to make $1 billion (not just spend it). How would you go about it?
9. Suppose you had $1 billion to give away. How would you give that away?
10. Do countries & cultures differ in the delusions they have about money? If so, how & why? [e.g. ".. 1 in 5 of [Americans] surveyed said they believe they are on track to become wealthy, Charles Schwab found in its survey of 1,000 Americans between the ages of 21 to 75". ... including 1/3 of millenials and Gen Z > ref. https://finance.yahoo.com/news/heres-americans-think-considered-wealthy-181416527.html ]
Extra Reading & Viewing
The Diary Of A CEO (2023) "The Savings Expert: “Do Not Buy A House!” Do THIS Instead! - Morgan Housel" @ https://www.youtube.com/watch?v=vOvLFT4v4LQ [5.4M views ] [Comment: This is worth investing some time in .. ]
Jack Chapple (23 Oct 2018) "Want to Be a Billionaire? Here's What You Have To Do." @ https://www.youtube.com/watch?v=MnqO-4ShbMs
The Infographics Show (22 May 2023) "You Must Spend $1 Billion in 30 Days or LOSE IT ALL - CHALLENGE". https://www.youtube.com/watch?v=Mi1Q3zGYcms
Thor May (2015) "Start your own business – a mental experiment" @ http://thormay.net/unwiseideas/StartaBusiness.htm [Quote: "Imagine that you are starting a new business. What would it be? Why did you choose it? Why would you choose a personal enterprise over working for somebody else (or why wouldn’t you)? What rewards would you be looking for? What personal costs would you be prepared to tolerate? Would you attempt it alone, or would you look for partner(s)? What are the ways you could fund such a startup? Would it be local, or seek a wider market?"]
Thor May (2014) "Property and Life Choices". @ http://thormay.net/unwiseideas/Property_LifeChoices.htm [Quote: "It is well understood by most governments today, whatever their nominal ideology, that encouraging the private ownership of residential property is one of the most effective ways of ensuring social stability."]
Andres Acevedo (8 Sept 2023) "Why meritocracy is a LIE... (it's way worse than people realize)" @ https://www.youtube.com/watch?v=73YEFD89IuM .
Aimee Picchi (August 23, 2024) "Here's what Americans think they need to be considered wealthy". CBS News @ https://finance.yahoo.com/news/heres-americans-think-considered-wealthy-181416527.html [Quote: ".. 1 in 5 of [Americans] surveyed said they believe they are on track to become wealthy, Charles Schwab found in its survey of 1,000 Americans between the ages of 21 to 75". ... including 1/3 of millenials and Gen Z ]
Daniel de Visé (October 8 2024) "How much income does it take to crack the top 1%? A lot depends on where you live". USA TODAY @ https://www.usatoday.com/story/money/2024/10/08/top-1-percent-income-state-by-state/75517204007/
Primrose Riordan (Feb 29, 2024) "The sum you need to make it into the top 1pc in Australia". Australian Financial Review @ https://www.afr.com/wealth/people/the-sum-you-need-to-make-it-into-the-top-1pc-in-australia-20240228-p5f8g8 [quote: "Australians previously needed to have $US5. 5 million ($8.41 million) to count themselves among Australia's 1 per cent, but the threshold has dropped to US$4.67 million ($7.18 million), according a 2024 wealth report by global real estate consultancy Knight Frank." ]
Aperture (8 Sept 2024) "How Stoicism Became The World's Greatest Scam." @ https://www.youtube.com/watch?v=h8REOHfdVZQ [Quote: "As someone who has covered and studied Stoicism for years now, I’ve noticed something strange happening. This ancient philosophy that was once a guide to living a good and fulfilled life has been co-opted by the manosphere and turned into snakeoil, sold as the magic pill to fame, fortune, and everything in between. My question is why stoicism? Out of all the other philosophies out there, why this one? In fact, why philosophy at all?"]
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Do You Want $1 Billion? (c) Thor May 2024