/biz/ - Business & Finance

>>51556977
So who's the genesis billionaire? There must be one that started all the shitfest. And how did he became wealthy without being self-made?

>>51556977
Turning 250k into the biggest company ever is pretty impressive

>>51557140
survivors bias

how many neets got 250k from their parents and DIDNT make the biggest company ever

>>51557128
The first grug who killed some other grug to take his berries

>>51557140

Is it just the $250k or is it the already established connections to various venture capitalists and production lines?

>>51557188
That doesn't contradict at all the fact that it is impressive, learn to use to your brain next time, retard

>>51557140
It is. But people tend to use them as an example of how the average person can climb from the bottom to the top if he just works hard enough. But having $250k in risk-free starting capital is out of reach for at least +95% of people. Rich people usually say that making their first million is hardest and after that it becomes exponentially easier, and that is true

>>51557261
And to add to this, $250k in 1994 is the equivalent to $500k today. So $500k in risk-free starting capital. Having that gives you an enormous edge

>>51557188
Almost every American who has parents inherited their house in the past and all their other assets that would be well worth over 250k, most of them are losers who never did anything with it. Even most millionaires born into wealth lose it all to the tune of something like 80% of them losing most of their money. People in this country are not financially gifted by and large.

Elon Must made his fortune through government subsidies and idiots who think electric cars are good for the environment.

https://twitter.com/ShellenbergerMD/status/1572365751993901057

>>51556977
Having you mum suck off an executive at IBM still counts as self made imo

A self-made man starts by not needing to compare his wealth or worth to others like a complaining little bitch.

>>51557188
You're literally agreeing with him brainlet.

>>51557188
You can't have it both ways. Either Bezos Is special for turning 200k into 2 trillions or everyone could turn 200k into 2 trillions. And only one has evidence that supports it while the other has endless evidence against it.

>>51556977
So where's the lie, Elon?

>>51559149
No it's neither. Lots of people try, only a handful make it. This would happen purely with dumb luck, just like the lottery.
In reality, it's some combination of luck, hard work, skill and nepotism.

Holy shit Musk comes off as a total beta faggot in that tweet

>>51556977
Lol Elon musk is coping hard

>>51557140

This desu, if you gave $250k to 80% of normies it would be gone in 2 years.

>>51559717
Being special includes luck anon, not just hard work. And I agree. Also this companies usually have an autistic drive towards improvement, like Bezos pushing for AWS like 20 years ago instead of paying a dividend once their online bookstore took off.

The issue is that Bezos didn't JUST get 250k. He got 250k as seed capital on top of his family/business connections, on top of education opportunities and costs taken care of, on top of a head start in life from growing up privileged and so on...

Basically he had everything in place already to make use of that 250k.

>>51557261

Fine, how about $5k startup capital, is that more within reach of the average person? Because Amazon's market cap is currently $1.2T, which means Bezos did a 4800x on the initial investment in the business. A 4800x on $5k would equate to a $24 million business. How many other people out there are turning $5k into businesses that successful?

Like the other anon pointed out, focus less on the initial investment and instead on what he grew it into. Bezos is a degen, but he unironically worked and innovated his ass off to make Amazon what it was today. The business barely turned a profit for decades because the focus was always on growth and market share instead of short term ROI. And nobody cared about him or had a problem with this business model until the strategy paid off and Amazon began printing money like mad.

>>51556977
Robert Reich is a perpetually seething jewish manlet and Elon's family didn't own an emerald mine

this isn't fair, if your parents are high IQ they will inevitably be rich, then everyone claims it is because you're a rich boy not your own talent

>>51560102
lot of rich midwits pretend they're smart like daddy

>>51557261
>>51557310
Not only that, he told his parents they'd probably lose it! They didn't even give a fuck about the money lmao.
>>51559910
Another interesting fact is that Bezos was a wall street SUPERSTAR before he even started Amazon. The dude could have just retired in his 30s.

>>51560227
it is not a given but intelligence is highly heritable

>>51557128
Jewish

Americans don't understand the concept of envy. Their whole culture is based on it yet they can't recognize what it is lmao

>>51556977
Nobody is self made, retarded. That is not how humans work

>>51560102
If your patentes are high IQ It Is likely that you are also high IQ.

>>51560349
>intelligence is highly heritable
and nepotism is more inheritable

>>51557128
Satan

>>51556977
>billionaire
>poor grammar

Absolute state. Imagine investing in this moron. "Genius" my ass.

>>51557128
The first man to shit some seeds and watch them grow into a farm.

>>51557310
>>51557188
Thousands of projects got millions in ICO funding over the last few years. How many of them even exist now. Look at crypto, we saw some of the greatest speculative mania there could be, and yet how many trillion dollar projects are there gonna be? Clearly there is more to it than just luck, or nepotism. Money doesn't guarantee success.

>>51559910
bezos is as close to selfmade as you can get
born to a teen mom and soon to be divorcee, with no name to himself
he got to where he is because he got into wallstreet after this studies and successfully networked there, but he did build that up from nothing cant hold that against a man
other than being born in america during a time of massive wealth generation his circumstances arent that special

compare that to musk for instance

>>51556977
lol musk is technically correct as the emerald mine was in zambia and thus not in apartheid, but the overall point definitely stands

>>51561283
yeah with familial connections to the formation of DARPA.

>>51557188
>>51557256
>>51557321
>>51559124
>>51560979

it's not the 250k that got him started.
It's the connections. The investment banking connections.
Man was already loaded with the invisible hand that guides the market; Jewish connections.

>>51560030
>manlet
he's a straight-up dwarf i think

>>51557321
>who has parents inherited their house in the past and all their other assets that would be well worth over 250k
You realize that children will be 50 to 60 by the time their parents are dead and they 'inherit' anything.

>>51556977
I think there were a couple cult leaders who were legitimately self made billionaires

>>51557128
Cain

>>51556977
While self made billionaires are a myth, self made millionaires are not. Also this >>51557140

>>51556977
The amount of rich people from wealthy parents seething at his post is hilarious. Saw the comment chain from Mark Notcuban and it’s comedy gold

>oy vey goyim, this isn’t true. Stop saying that!

>>51557140
And now his ex wife has half

>>51562008
>ITZ THE LE HECKIN JOOZZ

>>51556977
Lmao I remember the shills on /pol/ were claiming the mine was fake news. Fuck you Elon I’m coming for your head you mossad scum

>>51557128
Gengis Khan

>>51556977
nobody's self made. you must do the brunt of the work yourself but without the help of other men you'll never get anywhere.

They are pushing this ‘no billionaire is self made’ because I’m going to be the next youngest millennial billionaire and I was completely self made with zero financial help from even my parents

>>51557261
>having $250k in risk-free starting capital is out of reach for at least +95% of people.
it's really not. at least in America it isn't. people who say this haven't even tried. It helps to have a good idea or at least a good story but even bullshit can get you $250k pretty easily.

If you didn't give birth to yourself, and nurse yourself, and school yourself, and hunt, kill, process, and cook your food, and sheer your own sheep and fashion your own clothes you aren't a self made man.

Also, If anybody ever held a door open for you... you're not a self made man.

>>51563239
Yes.

>>51557256
It does though. You are down playing how important that level of privilege is. Retard cock sucker
You have a hard on for oligarchs so you don't want to acknowledge that. Sure, they aren't idiots obviously, but they were BEYOND privileged.

>>51557128
John D. Rockefeller if you want recent.

East India Company if you want the first finance and trading guys

>>51560002
Being able to put cash to use doesn't just scale linearly like that, $5,000 has much less purchasing power for assets than $250,000. Sure, you can buy some stock or something, but the low fee for entry into that game means that its very easy for many different entrants to compete in pricing the assets, so generating alpha is pretty difficult. But if you take $250k and use it to buy storage units in the 2000s then you could corner a market opportunity that was booming at the time, but not many people could afford to take part in. But that is exactly what contributes to the scale of some of those opportunities, is the larger asymmetries in the market because there aren't as many people with the money to compete over those opportunities and compress prices for minimal chance to make those abnormal profits. That isn't to say just anybody could be Bezos, clearly not, but that isn't just because Bezos is a genius or something. He is competent, he was in the right place at the right time with the right skills, but having access to the networks that can give you that early money is a make or break deal.

>>51557515
Elon Must made his fortune through holding onto his paypal stocks after being fired for incompetence rather than selling them right away out of spite, then the stocks went to the fucking moon and he cashed in.

>>51563545
Ok. Let's say I have a good idea, but no credentials besides a high school diploma, and my parents will not loan me more than 10k. How would someone get to 250k?

>>51557128
Medisi family

>>51557140
When you have jewish connections to fiat money printer it is easy.

>>51563239
Yes

>>51559041
kek, I agree

He ratio'd him
No cap

>>51556977
lol perpetually triggered elon should touch some grass instead of elevating his (many) detractors

>>51564605
you dont get to 250K simple as

> You are both an idiot and a liar

>>51556977
>family owned an emerald mine in South Africa
supremely keyed if verified

>>51557188
Yeah so Jeff is in some way special and superior to all those who did nothing with their money.

>>51557128
the ones in control of printing presses

>>51556977
>quarter-million
Do people think this is a lot of money?
>>51557188
I eased my way into way more than 250k and i havent started a company

>>51564605
Shark tank

>>51557128
Genghis Khan/Temujin was born to some kind of nobility but poor, dirt poor as in lived off the land and killed a brother over food, was a slave for a while even. Went from that to insanely wealthy. Beyond wealth people also say he fathered something like 1/5 of the current world population through his bloodline. I don’t think there’s as much opportunities for accumulating wealth in the same methods these days though

Musk was almost entirely estranged from his family and paid his way through college on student loans and couch surfing. Yall are idiots.

>>51556977
The only way to be self made is to start as a caveman removed from society and end up as Elon musk tier billionaire. Chud

>>51567311
I call LARP on that guy's posts but the r*dditor's response is pathetic
>w-well you had the OPPORTUNITY to live a poverty-tier lifestyle and save every penny! Some people are too retarded to get a job and have to pay their mom's medical bills with their welfare, so really you were just LUCKY
so gay

>>51557188
are you retarded

>>51557188
you just reaffirmed what he said lmao

>>51556977
fuck me the state of you grug heads

none of them made a single dollar ever.

niether do you.

The dollars all prexisted / were created out of thin air by fractional reserve fiat.

All they have done is have an existing bundle of dollars accorded to them or perhaps implied they could get said fiat if the swapped their shares for them.

None of the ever made any money.

Share tradeing does not make money just swaps round pre exisiting amounts on the Fiat ledger.