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If you don’t want to be poor you should simply become rich (sh.itjust.works)
submitted 1 year ago by to c/linkedinlunatics@sh.itjust.works
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[–] 93 points 1 year ago* (13 children)

Not everybody can fucking participate, Vijay.

Also, you can't do basic arithmetic.

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  • [–] 61 points 1 year ago (10 children)

    Well based on the principle of compounding interest I think that number might be right. It really kind of depends on your returns every month.

    His logic flaw here is that millions gamble on startups like that and hindsight is very much 20/20.

    Buying stocks is kind of like sports betting for a different target audience this way.

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  • [–] 54 points 1 year ago (3 children)

    That’s why you’re only supposed to invest in successful ideas, duh.

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  • [–] 34 points 1 year ago (2 children)

    It's always a good idea, before investing in any company, to call the head office and say "I need a straight answer, so don't give me the runaround: will you fail?". If they say "no", it is a safe investment. If they say "yes", it is not quite as safe an investment but you may still want to invest.

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  • [–] 33 points 1 year ago

    There's no compounding interest here. You have to look up what the share price was every month for 28 years to find out how many shares you would buy (after trade fees) and then also keep track of share splits and dividend payments. Finally you add the total dividend with share number multiplied with current share price. I promise you that Perplexity AI didn't do a single step of this. Instead it put down something that sounds likely.

    Finally you have to throw all of this away since the premise is completely flawed. It's not Jeff specifically but the fact that capital is taxed less than labour people are protesting.

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  • [–] 5 points 1 year ago (2 children)

    You're missing a non-formulated assumption that you should have diversified your investments, so it's 100$ in Amazon, and 100$ in competitor2, 3, 4,... Get to 10 and you have a good chance 1 or 2 will make it!

    What? You can't afford 1000$ of risky investments per month??

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  • [–] 1 point 1 year ago (1 child)

    Bezos wasn’t diversified like that though

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  • [–] 4 points 1 year ago*

    He gambled and it happened to pay off.

    For every one of these success stories there's thousands of families. Take speak at r/wallstreetbets. Practically a daily post about someone blowing up their account on a risky bet. And those are just the ones who feel like sharing

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