earned it all

cross-posted from: https://lemmy.blahaj.zone/post/25830369

Microblog Memes @lemmy.world

earned it all

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I get the point. I've even posted about how absurd a billion dollars is. But, here's the problem with the post's absurdism: $5,000 a day since 1492 would be well over a billion dollars today, assuming things like investing, real-estate, and inflation still exist. Given that, for reference, $5K / year was uber rich around the victorian era, you'd definitely be a multi-billionaire if you've had access to that kind of money since 1492.
- Okay, how about this? If someone were to work every day for 50 years and if they invested everything they earned at an 8% interest rate, they would need to earn approximately $1.4M/day to reach Elon's current level of wealth.
  At $5,000/day income and 8% interest investments, it would take 120 years to accumulate $340B.
  
  Yes. Your math is correct. My point was never "billionaires good", but rather the meme is disingenuous. But I guess any time anyone says anything other than "billionaires bad" they get downvoted.
  
  I'm not really sure why you're being downvoted. I up voted you.
  I didn't actually mean to imply that I disagreed with you. I was just giving some alternative numbers to demonstrate the issue in a more realistic way. I also didn't think you were implying that billionaires are good just because the example in this post isn't the best one.
  
  Your point is still not clear to me. It could be interpreted as $5,000 in today's money every day since long ago. It still is a lot of money per day, even in the equivalent money back then. 5 cents then (or whatever) is what $5,000 feels like today. So what's your point?
  
  If you are still asking what my point is after my two comments, I think we're done here.
- But you can also use this to make it work. If you instead use the amount that is equal to todays 5000$ then it works. You just have to see your own point through instead of selective ocd.
  
  So, if we add information it makes sense, but only then? Which is my point, it's disingenuous. The people making $5K a year back in 1492 are the ones who passed their wealth on to the 0.001% today. Making $5K per day is just more money, and my point still stands.
  
  You're being disingenuous yourself, as you most likely know. Good luck with that attitude.

19 comments