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The average american makes ~2m in a lifetime, 1b$ is 500x that. "Losing" 1b$ is ludicrous unless you are actively looking to lose it (or don't care about it, li

by totony 5y ago

The average american makes ~2m in a lifetime, 1b$ is 500x that. "Losing" 1b$ is ludicrous unless you are actively looking to lose it (or don't care about it, like musk & al). How do you lose what 500 people make in their lifetime?

mdonahoe 5y ago
Look at what happens to lottery winners.
- scott_w 5y ago
  There’s a world of difference between a million and a billion. Just physically moving that amount of cash is difficult and takes time. Even those lottery winners don’t blow the whole lot in less than a year.
  - adwn 5y ago
    > Just physically moving that amount of cash is difficult and takes time. ...that's why it isn't moved physically?
Closi 5y ago
Yeah, but the average American also isn’t making $50 million donations to keep a pet project going.
- totony 5y ago
  Let's say your net worth is ~100k. That's equivalent to a 2.5k donation. Investing 2.5k in a pet project is pretty common, and you don't find yourself in the streets for doing so. I think people that say it's easy to lose 2b$ don't have a clear understanding of the amount of money that is. It's a crazy amount for one person.
  - 1123581321 5y ago
    I think you’ve lost the context. If signal does not figure out revenue, they will require more $50MM donations. Using your analogy, that would be like you spending $5,000 or $10,000 when you originally only planned to spend $2,500. Perhaps you wouldn’t flinch, but many would pull the plug after the first or second time, especially if disappointed about some aspect of the project. Your project is at risk by relying on your continued good graces, even though you may technically be able to afford more investment. Likewise, signal is at risk if it requires periodic investment of millions from Acton, even though he can afford it and currently supports the project. Since he donated a few percent of his net worth, it’s a better situation than if he had donated, say, half, but signal still needs to take the risk seriously.
pyrale 5y ago
Forget it in your pants, and it went in the washing machine. You know, same problem as everyone else, really.
- alias_neo 5y ago
  That's why they're making all of the cash money plastic, so these billionaires can stop accidently laundering their money. Genius!

by totony 5y ago

mdonahoe 5y ago

Look at what happens to lottery winners.

scott_w 5y ago
There’s a world of difference between a million and a billion. Just physically moving that amount of cash is difficult and takes time. Even those lottery winners don’t blow the whole lot in less than a year.
- adwn 5y ago
  > Just physically moving that amount of cash is difficult and takes time. ...that's why it isn't moved physically?

Closi 5y ago

Yeah, but the average American also isn’t making $50 million donations to keep a pet project going.

totony 5y ago
Let's say your net worth is ~100k. That's equivalent to a 2.5k donation. Investing 2.5k in a pet project is pretty common, and you don't find yourself in the streets for doing so. I think people that say it's easy to lose 2b$ don't have a clear understanding of the amount of money that is. It's a crazy amount for one person.
- 1123581321 5y ago
  I think you’ve lost the context. If signal does not figure out revenue, they will require more $50MM donations. Using your analogy, that would be like you spending $5,000 or $10,000 when you originally only planned to spend $2,500. Perhaps you wouldn’t flinch, but many would pull the plug after the first or second time, especially if disappointed about some aspect of the project. Your project is at risk by relying on your continued good graces, even though you may technically be able to afford more investment. Likewise, signal is at risk if it requires periodic investment of millions from Acton, even though he can afford it and currently supports the project. Since he donated a few percent of his net worth, it’s a better situation than if he had donated, say, half, but signal still needs to take the risk seriously.

pyrale 5y ago

Forget it in your pants, and it went in the washing machine. You know, same problem as everyone else, really.

alias_neo 5y ago
That's why they're making all of the cash money plastic, so these billionaires can stop accidently laundering their money. Genius!