Three takeaways from my post about wealth/technology yesterday:
1) People are really, really triggered by any suggestion that technology is has been a massive force equalizer. They are very committed to the idea that billionaires live radically different lives from them, and that technology is an opiate used to distract them from this.
2) Many have cartoonish ideas about how the wealthy spend their time. They believe wealthy people are mostly partying in yachts and jetting to the Maldives every weekend. Turns out, wealthy people are mostly workaholics—that's why they're wealthy (~70% of US billionaires are self-made), and you can't build a company while constantly on vacation.
3) People have really no sense about how the lived experiences of humans, across every decile of wealth, has dramatically improved over the last 100 years. Many people somehow seem to believe that the world was better in 1950—which could not possibly be more wrong. This trend is true across poverty, crime rates, life expectancy, education, pretty much anything you can measure.
I think Warren Buffett stated it best (h/t @jillrgunter):
"Money makes very little difference after a moderate level. I tell this to college students. They are basically living about the same life I'm living. We eat the same foods — that I can guarantee you. There's no important difference in our dress. No important difference in the television set that we watch the Super Bowl on... Almost everything of importance in daily life, we equate on."




From X
Disclaimer: The above content reflects only the author's opinion and does not represent any stance of CoinNX, nor does it constitute any investment advice related to CoinNX.

