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But what’s the difference between $10M and $500M? In both cases, you can stop working for a living and do whatever you want with your life instead.
by lfischer 9y ago
But what’s the difference between $10M and $500M? In both cases, you can stop working for a living and do whatever you want with your life instead.
- jforman 9y agoOnly if "whatever you want" means lounging on a beach or a yacht. Most of the people on that list had aspirations to impact the world as much as possible, and there isn't a limit to the wealth you can use to do that. You couldn't start Social Capital on $10M, for example.
- aaron-lebo 9y agoYou can change the world on 10k, we believe otherwise because we're lazy, and to be fair, it's a lot more fun to have 10 million than 10 thousand. Sure, if you have a bunch of money and throw that money at things, you'll "change the world", but that doesn't mean that's an effective way of making lasting or useful change.
- jforman 9y agoOf course you CAN impact the world on $10k. But the Gates Foundation doesn't run on $10k. You can found zero biotech companies on $10k. Money, alas, has value, believe it or not.
- aaron-lebo 9y agoWell, the Gates Foundation is funded by a monopoly that intentionally restricted competition and progress in the computing industry for at least a decade, so maybe there's a better way of obtaining it.
- deleted 9y ago[deleted]
- appleiigs 9y agoI don’t much about Social Capital, but $10 million is plenty to start a fund. (plenty even if you only use a portion of it)