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The problem with money is too much, too fast, modifies the mindset of the holder. I know very good and smart people who earned money the ‘easy’ way change into
by artellectual 8y ago
The problem with money is too much, too fast, modifies the mindset of the holder. I know very good and smart people who earned money the ‘easy’ way change into douche bags or idiots or sometimes both. This is just another example.
To be honest I think he started out honestly with his true mission, not trying to scam anyone, but when he saw all that money in his bank account he probably thought “I guess I made it?” And decided to drop the whole thing.
The thing about people like him is, they are usually extremely careless and will eventually lose all that money without too much effort, either he will spend carelessly in gambling, or get caught by the feds, or burn it in some other way.
It’s usually always the same story. It doesn’t last. I studied someone who won a lot of money from a gambling business, to people who inherited a lot of money from family, to people who get money from investors without putting in much effort. They all usually end in the same way, they lose it all, and it’s usually because of bad management of wealth.
My hypothesis is that when they get money the shortcut way what they don’t get is the management skill that is required for having a lot of wealth. Money is fascinating, in what it does to the mind of the holder. How money reaches the holder, usually determines how long it lasts as well.
I’m studying a few more group of people, my hypothesis has not been wrong yet. People who work hard for their money tend to be able to make less go much further. They seem to be much more efficient, and are usually very good at turning 100 into 1000.
- trisimix 8y agoIf someone handed me 100m I'd for sure make a fool of myself. Yeah I'd probably buy myself a masters and a startup, but I'd also probably buy a million dollars in useless tech, and god knows what.
- wnevets 8y ago>I know very good and smart people who earned money the ‘easy’ way change into douche bags or idiots or sometimes both. This is just another example. or they were always douchebags but had to pretend they weren't when they didn't have fuck you money.
- thaumasiotes 8y agoCan you describe any difference between these two scenarios?
- tedunangst 8y agoIs turning into a douchebag the inevitable result of money? Are there no examples of people uncorrupted?
- deleted 8y ago[deleted]
- newman314 8y agoI read somewhere that “money doesn’t change who you are but amplified who you already are” I’d like to think that there is truth in that.
- jstarfish 8y agoThe same can be said for drugs and alcohol.
- lazyjones 8y agoThat's wishful thinking. In reality, if this was a scam, the guy always was a criminal and people who invested were fools. No need to post a cliche about people who got rich suddenly...
- chukye 8y agoI don't think money change people. I think money just potentialize what people have.
- mundo 8y agoThis hypothesis is somewhat contradicted by the experience of Jack Whittaker[0], whose life quickly descended into a series of legal, financial and personal tragedies after winning $114M, despite being a successful businessman with a net worth of $15M at the time he won[1]. 0: https://en.wikipedia.org/wiki/Jack_Whittaker_(lottery_winner) https://en.wikipedia.org/wiki/Jack_Whittaker_(lottery_winner... 1: https://www.reddit.com/r/AskReddit/comments/24vzgl/you_just_won_a_656_million_dollar_lottery_what_do/chba4bf/ https://www.reddit.com/r/AskReddit/comments/24vzgl/you_just_... edit to add: that second link claims that "Nearly one third of multi-million dollar jackpot winners eventually declare bankruptcy" but does not include a source.
- bllguo 8y agothat's a pretty silly comment to make.. 1. there are exceptions to many rules. 2. how did Whittaker mismanage his winnings? A series of misfortunes does not tell us anything about his ability to manage his wealth.
- mundo 8y agoI posted about Whittaker because his story is on-topic and interesting, not because I thought OP was making a serious scientific claim to which I had contradictory evidence. If you want more info try reading the links I included or doing a search on his name.
- mygo 8y ago> I posted about Whittaker … not because I thought OP was making a serious scientific claim to which I had contradictory evidence > This hypothesis is somewhat contradicted by the experience of Jack Whittaker[0] You may not have meant it that way, but I can see how your response can be taken that way
- 3pt14159 8y agoI have a friend that inherited a couple million at 25 and how he's handling it has really made me realize that it isn't the process of fast wealth that makes someone treat money responsibly. It's something deeper. Their "soul" or "core values" or something like that. At 25 years old my friend took half of his money and he researched which Canadian Aboriginal tribes his grandfather and great-grandfather displaced with their logging industry and he directed his money to supporting their causes. He's just about finished his law degree and rather than use it to make money as a corporate lawyer or high priced attorney he's dedicating his career to helping refugees. You're not wrong that it can hurt, but I don't think it is as much of a given as you're making it out to be.
- Jeremy1026 8y agoThere will always be edge cases, but you can't take those and make them be the status quo.
- dguaraglia 8y agoGiven power, people will show their true self. Money is just a proxy to power in a capitalist society. Give money to someone like your friend and they'll do great things. Give money to someone who would be horrid if they weren't constrained by the norms of society and they'll be horrid.
- arisAlexis 8y agoit was a PR stunt everyone fell for it