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The lives of these wealthy individuals are so devoid of love and focused on money, they literally have to purchase friendship. How sad.

abc_lisper 4y ago
The wealthy didn’t become wealthy by making the same micro everyday trade offs others did. I’m not saying they are not talented, they are, just that they some times take roads commoners wouldn’t want to. In any case, the rich just don’t use other people - they get used up too. That’s why capitalism is great, and how it works for more people than it appears.
- otikik 4y ago
  Can’t tell if this is ironic or not.
  - feet 4y ago
    If you can't tell you might be a commoner Hard /s
lotsofpulp 4y ago
In my experience, people undervalue community and trust. What this article is describing is not that different than what my parents’ diaspora did when they immigrated to the US via chain migration. They had a tight knit community in the origin country, but were not wealthy. What they did have was trust. So if a new immigrant got a visa call, and they came to the US, people in the community, distant cousins, close cousins, friends of friends would not hesitate to send $2k, $5k, $100, whatever they could to help them get their business started. Today, the same people send each other $100k+ to close deals without hesitation. Obviously, no bank is going to lend to a no name immigrant. And they were not going to get fancy white collar jobs or even government jobs with broken English and no US degree. I see the people in the article doing sort of the same. They are taking advantage of the trust between each other. Why let a bank or other investor take extra if you already have the inside scoop that this person is likely not a fraudster and has good work ethics?
forgotmypw17 4y ago
A less cynical way of looking at it is that they are waking up to the goodness of sharing their wealth, carefully?
runnerup 4y ago
This is extremely overly cynical. The angel investors I know grew up in lower social strata, were extremely passionate about computer science and very dedicated to both careers and friends. Their angel investing goes towards social good like businesses working on fresh drinking water. The ones I know at least feel incredibly fortunate and lucky, know that the world is terribly unfair and that they essentially won the lottery. They put a lot of time and energy into helping others and now that they're comfortable they are making sure they're working on impactful projects.
- iancmceachern 4y ago
  This is the kind of environment that I've seen here in the bay area in several different areas that leads to success. It's less about an individual startup but more like a little ecosystem of interrelated but different companies helping to build a new industry.
fragmede 4y ago
If you go out for drinks with a friend and you buy that friend a $7 beer, are you "buying friendship"? What about when they buy a round? The question to think about is how much is $10k worth to you? If you've already got money stuffed into index funds, 401k, Roth, along with some off the wall investments, and you've got your ears open for something that might beat the market in 10 years, an angel investment opportunity for $10k really isn't that much money. It's a different financial strata than most live in these days, but to think of it as purchasing friendship is to misunderstand just how rich some people are, and how the bubble they live in operates.

abc_lisper 4y ago

The wealthy didn’t become wealthy by making the same micro everyday trade offs others did. I’m not saying they are not talented, they are, just that they some times take roads commoners wouldn’t want to. In any case, the rich just don’t use other people - they get used up too. That’s why capitalism is great, and how it works for more people than it appears.

otikik 4y ago
Can’t tell if this is ironic or not.
- feet 4y ago
  If you can't tell you might be a commoner Hard /s

lotsofpulp 4y ago

In my experience, people undervalue community and trust. What this article is describing is not that different than what my parents’ diaspora did when they immigrated to the US via chain migration. They had a tight knit community in the origin country, but were not wealthy. What they did have was trust. So if a new immigrant got a visa call, and they came to the US, people in the community, distant cousins, close cousins, friends of friends would not hesitate to send $2k, $5k, $100, whatever they could to help them get their business started. Today, the same people send each other $100k+ to close deals without hesitation. Obviously, no bank is going to lend to a no name immigrant. And they were not going to get fancy white collar jobs or even government jobs with broken English and no US degree. I see the people in the article doing sort of the same. They are taking advantage of the trust between each other. Why let a bank or other investor take extra if you already have the inside scoop that this person is likely not a fraudster and has good work ethics?

forgotmypw17 4y ago

A less cynical way of looking at it is that they are waking up to the goodness of sharing their wealth, carefully?

runnerup 4y ago

This is extremely overly cynical. The angel investors I know grew up in lower social strata, were extremely passionate about computer science and very dedicated to both careers and friends. Their angel investing goes towards social good like businesses working on fresh drinking water. The ones I know at least feel incredibly fortunate and lucky, know that the world is terribly unfair and that they essentially won the lottery. They put a lot of time and energy into helping others and now that they're comfortable they are making sure they're working on impactful projects.

iancmceachern 4y ago
This is the kind of environment that I've seen here in the bay area in several different areas that leads to success. It's less about an individual startup but more like a little ecosystem of interrelated but different companies helping to build a new industry.

fragmede 4y ago

If you go out for drinks with a friend and you buy that friend a $7 beer, are you "buying friendship"? What about when they buy a round? The question to think about is how much is $10k worth to you? If you've already got money stuffed into index funds, 401k, Roth, along with some off the wall investments, and you've got your ears open for something that might beat the market in 10 years, an angel investment opportunity for $10k really isn't that much money. It's a different financial strata than most live in these days, but to think of it as purchasing friendship is to misunderstand just how rich some people are, and how the bubble they live in operates.