One like = one opinion on RICH PEOPLE
1/ A lot of rich people are assholes because… they can get away with it. When you have enough money, you don’t "have to" put up with social norms if you don’t want to
2/ Rich people that got it through work are good. They are inspirational.
3/ Many rich people aren’t any smarter when it comes to “investing” than a middle class rando. They just made a few high reward bets that paid off.
4/ Some of the most generous people are rich people. The right kind of generosity and social skills can get you there.
5/ Rich people should paying higher tax rates, but not so much that they lose the majority of their income to taxes. There’s something inherently demotivating about giving up more than half.
6/ The median Rich person is willing to put in more hours of work than the median non-Rich person
7/ Rich people are more fun at parties. Also more obnoxious
8/ A decent percentage of rich people are playing the game harder so they can afford to fly private. Flying private is like a time machine.
9/ American culture makes it OK to feel superior to other people when you’re rich.
10/ Encouraging the existence of rich people is generally good for economic growth and for society as a whole.
11/ Rich people tend to have more inflated egos than the median person.
12/ Rich people tend to have more eccentric hobbies, partially to signal that they’re unique
13/ Being rich gives you a lot of breathing room, which can obviously be either squandered or parlayed into Great Works
14/ Rich people are just as anxious as everyone else
15/ Most rich people are deathly afraid of being poor. Like it impacts them much more than a typical middle class person.
16/ Most rich people care about giving up 6% on the sale of their homes just as much as you do
17/ Otoh, putting too much effort into saving a few dollars here and there will make it harder to get rich. That time needs to go into finding and making bets with asymmetric payoffs (lose small, win big)
18/ The way you got rich tends to define what kind of rich person you are more than anything. Old money vs new money, obviously…
19/ … but even more so, consider conservative business man vs startup moonshot vs deep value investor
20/ Being rich is one of those things where you can become it by acting that way, to a degree. Fake it till you make it.
21/ You’re not really rich if you make 500k and have kids in NYC. You certainly won’t feel rich.
22/ Rich is a state of mind to a large degree. Mostly a function of who you surround yourself with. In college, making $100k a year I felt like a fucking god
23/ Being rich is not as fun as being high status.
24/ Status can be converted into money more easily than money can be converted into status h/t @eugenewei
25/ Rich people are just as afraid of death.
26/ Soviet Russia had rich people too, they got it mostly from status + theft
27/ I would rather be middle class in America than rich in China
28/ Most rich people will not always be rich
29/ While it’s better to have loved and lost than never to have loved, I’m not convinced that it’s better to have been rich and then become poor than just to have been poor the whole time
30/ Being liquid rich is a very different feeling than paper rich (experiencing this now, not very fun)
31/ Being rich on paper barely feels rich
32/ Most people are only rich on paper. Therefore most rich people don’t feel rich.
33/ Rich people are extra frustrated by bureaucracy because they’re used to being able to pay for better service.
34/ The gov’t should explicitly have price tiers and encourage paying more for better service
35/ Not all rich people.
36/ A lot of people take actions that they know won’t make them rich, but are hoping will make their kids rich.
37/ Leaving a bunch of money to your kids in a way that doesn’t make them earn it is probably a bad idea.
38/ Rich people tend to make better leaders if only because they’re less likely to be desperate to take a short-term payoff with long-term costs (assuming no principal-agent problems)
39/ If you had a nickel for every time… you can’t get rich that way
40/ Being rich can earn you a few extra years if you have a weird cancer. Otherwise, you’re mostly only better off to the extent you can afford a diet of real food, and time to exercise
41/ It seems like the drive to be rich is something that you see early in life with someone that tends to have it
42/ Rich people have more to lose from large shifts in the world than poor people. But can also gain more, in absolute terms
43/ Investing can make you way richer, but only if you are kinda rich to begin with
44/ Rich people often aren’t any “better with money” than poor people (similar to investor point earlier)
45/ Having skills and/or a good network feels safer than just having money up to a point, even if being rich enough means you can always afford a good life
46/ Until you're Really Rich ($100mm+), your spending will mostly expand to your income and it's easy to feel anxious about losing some of it
47/ Rich people have higher suicide rates, I think
48/ Rich people tend to be "smarter". Define it how you want
49/ Rich people are designing the world to a large degree -- there are super exclusive physical places that you don't know about
50/ Rich people experience the physical world mostly the same as everyone else. Same roads, same iPhone, same materials in their clothing
51/ When you can stop worrying about whether buying a big yacht is worth it, you're probably rich
52/ Many rich people still carry around a wad of cash. Like hundreds of dollars. You never know when it can come in handy
53/ Most rich people keep cash, gold, etc in a variety of places, including other countries, for Just In Case
54/ The most socially skilled people I know are rich people
55/ The most ruthless people I know are rich people
56/ The most humble people I know are rich people
57/ Actually even the most ethical person I know is a rich person
58/ I don't know THAT many rich people, they just tend to have outlier personalities
59/ Contra the asshole rich person, there also the Ultra-PC rich person. They just have a lot to lose and will open up in private.
60/ Rich people are generally more skilled at wearing beliefs like clothing. They're a tool, not an identity
61/ Rich people are often just as stingy as everyone else when it comes to lending money to your friends. It's not about the money, they don't want to risk the relationship
62/ Rich people have a ridiculous mess when it comes to tax time. The complexity of the tax code is brutal and it forces you to jump through hoops to save money
63/ Not all rich people hate taxes
64/ Rich people are just as spontaneous with their purchases as everyone else. They're just willing to spend more on each one
65/ Rich people don't care enough about politics (!)
66/ Rich people should be donating way more to politicians
67/ Many rich people started off very poor. Many of those are running away from that experience — they want to ensure that their family never goes through that again. For better or worse
68/ Rich people spending on exotic shit supports a lot of stuff that wouldn’t exist in a capitalist system
69/ Rich people often mix business with pleasure
70/ Rich people in America are not as coordinated as they could be. Rich people used to be far more coordinated, eg Western Europe when wealth and status were more tightly coupled
71/ Rich people tend to be more discerning
72/ We should do a better job at distinguishing how rich people made their money, and treating them differently as a function of that
73/ Being able to pass on dynastic wealth is bad for society, but isn’t as big of a problem in the US as used to be historically in Europe
74/ The new crop of Chinese Rich People will change a lot of things about rich person culture
75/ Rich people can make good business partners because if they have enough emotional buy-in, they’ll continue to find ways to fund something monetarily
76/ Rich people can make bad business partners, especially with a business tied up with their ego or inconsequential to their overall net worth, because their decisions will be less rational
77/ Rich people struggle with maintaining good personal staff. Good personal staff can make your life way easier
78/ New rich people can be more open-minded if only because they’ve seen how quickly things can change
79/ Rich people are just as good at savoring the little things in life as anyone else
80/ Rich people tend to have more of a sense of humor
81/ Rich people like being around people similar to them, just like everyone else
82/ Rich people tend to be more optimistic about the future
83/ Rich people are watching you, even when you least expect it
84/ Rich people are always looking for new allies or apprentices — catch their eye and it can change your life
85/ You have to be exceptional in some dimension to catch the attention of a discerning rich person
86/ Rich people feel OK not having an opinion on stuff — they don’t care as much about having the right opinions on random shit
87/ Rich people know that being right is not as important as being effective
88/ Rich people are interested in trends — riding big waves is one good way to find bets that can have massive payoffs
89/ If you write enough tweets, it could catapult you into becoming a rich person
90/ Most rich people made their money doing something that sounds very mundane
91/ *braces self* Men are more biologically optimized for getting rich than women
92/ On that note, rich people are more OK with speaking heresy
93/ Most large successful social movements, including revolutions and revolts, tend to have some rich people behind them. Often they don’t want to be known about, for good reason
94/ The percentage of rich people that are Jewish used to be much higher. A lot of that wealth was confiscated during WW2
95/ As a rich person, you should most definitely be concerned about your wealth being confiscated. Historically, this was the norm. You also would typically not get to keep your life
96/ Rich people are more likely to think about, and act on, scenarios that seem very unlikely. Cryogenics, survival bunkers, full body MRI.
97/ Rich people aren’t interested in optimizing things by a little bit. You get their attention by showing how you’re going to cause a big shift in how things get done, unlock a lot of new value.
98/ Analogously, cost savings are not as interesting as opening up massive new revenue potential. Even if the odds are lower.
99/ Rich people think more like corporations than other people. Corporations think more like rich people than other people.
100/ Rich people die just like everyone else.
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