The myth of corrupt millionaires - Deepstash
The myth of corrupt millionaires

The myth of corrupt millionaires

We have grown up to see money as the tool of evil for corrupt individuals. However, more than 60% of millionaires are self-made. They started from 0 and built their empires one brick at a time.

This includes people like:

  • Warren Buffet
  • Howard Schultz (ex Starbucks CEO)
  • Oprah Winfrey
  • Jeff Bezos
  • Elon Musk
  • etc...

They worked hard, on problems that affected millions. And they came up with solutions that scale. 

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MORE IDEAS FROM The Untold Truth About Money: How to Build Wealth From Nothing.

Money = Freedom

Money is just a belief. A number on a screen. What we want is the feeling of freedom: The ability to do what we want, when we want it, without having to think if we afford it or not.

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Money is about value, not time

You are paid in proportion to the perceived value of your work. Not based on how hard you work: A handyman may work hard, but his work is easily replaceable so he will make less money than a lazy accountant.

The most valuable employees are the ones working on the biggest problems. The richest people are those who solve a problem for billions. 

If you want money, stop chasing money. Look for big problems and come up with solutions. The market will reward you generously. 

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James sani

If you want a million dollars, solve a million-dollar problem.

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RELATED IDEA

The Buffet Indicator

The Buffett Indicator is the ratio of total the United States stock market valuation to GDP. It is said to be the best predictor of market corrections or crashes. 

As of May 6, 2021:

  • Aggregate US Market Value: $51.8T
  • Current Quarter Annualized GDP: $22.6T
  • Buffett Indicator: $51.8T ÷ $22.6T = 229%

Historically, when the stock market went above GDP by 50-100% it crashed, going below GDP. 2021 is the year in the last 100 years when the ratio was over 2x the largest stock market in history.

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The Fastest Ever Man-made Machine.

1. First spacecraft to study a star - Our Sun. 

The Parker solar probe, launched on August 11, 2018 is a part of NASA’s ‘Living With a Star’ program. 

This probe will attempt to study two sections of the Sun: the corona and its atmosphere.

2. First mission to be named after living person. 

The Parker solar probe gets its name from physicist Eugene Parker, who provided concepts to the energy generating capabilities of stars.

3.Closest distance of any spacecraft from Sun.

This distance will reduce to 3.8 million miles (6.12 million km) by the final orbits of the Parker spacecraft around the sun.

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Fiat money

Fiat money is a government-issued currency that is not backed by a commodity such as gold. Most paper notes started as being backed by a reserve of valuable commodities, usually gold (the "Gold Standard"). Tying a currency to gold limits inflation and money supply.

But politicians hate the gold standard, so since Nixon's presidency, the US dollar was no longer tied to gold and money had value just because the government says so.

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