4 ms·

Don't believe any article that uses AVERAGES instead of the MEAN when it comes to wages, because average wages are worthless to consider and are more easily ske

by WA 3y ago

Don't believe any article that uses AVERAGES instead of the MEAN when it comes to wages, because average wages are worthless to consider and are more easily skewed by extreme outliers. Since Jeff Bezos moved to our village, we're all multi-millionaires on average.

FirmwareBurner 3y ago
>Since Jeff Bezos moved to our village, we're all multi-millionaires on average. Funny anecdote, but realistically how many ultra-wealthy like Bezos live in neighborhoods poor enough to significantly, distorrt the localc market? I think you'll find the ultra wealthy generally live in similar locations, seme as the poor, same as the middle class, and that goes in every country, from the US to France.
- defrost 3y ago
  FWiW there's at least one person on the planet with a personal wealth > $10 billion that still lives on their multi generational station surrounded by native title lands populated by first nations people with no income or assets (other than an embedded 'nation' their family has held for at least 10K years.
  - FirmwareBurner 3y ago
    There's many more Europeans who still live and own land worth billions inherited across generations, from centuries ago, than there are Americans in the same position. In Austria, the top 100 richest families own 2/3 of the country's wealth, and spoiler alert, non of those are recently minted tech billionaires, but wealthy heirs from land and 100 year old businesses.
    - defrost 3y ago
      In Australia (like Austria but with more letters and less culture) they have Vogon poets: https://genius.com/Gina-rinehart-our-future-annotated https://genius.com/Gina-rinehart-our-future-annotated https://www.abc.net.au/local/stories/2012/02/15/3431797.htm https://www.abc.net.au/local/stories/2012/02/15/3431797.htm estimated net worth > $27 billion.
MattPalmer1086 3y ago
Did you mean to say "instead of the MEDIAN?"
- WA 3y ago
  Yes, my bad. I meant the median.

by WA 3y ago

FirmwareBurner 3y ago

>Since Jeff Bezos moved to our village, we're all multi-millionaires on average. Funny anecdote, but realistically how many ultra-wealthy like Bezos live in neighborhoods poor enough to significantly, distorrt the localc market? I think you'll find the ultra wealthy generally live in similar locations, seme as the poor, same as the middle class, and that goes in every country, from the US to France.

defrost 3y ago
FWiW there's at least one person on the planet with a personal wealth > $10 billion that still lives on their multi generational station surrounded by native title lands populated by first nations people with no income or assets (other than an embedded 'nation' their family has held for at least 10K years.
- FirmwareBurner 3y ago
  There's many more Europeans who still live and own land worth billions inherited across generations, from centuries ago, than there are Americans in the same position. In Austria, the top 100 richest families own 2/3 of the country's wealth, and spoiler alert, non of those are recently minted tech billionaires, but wealthy heirs from land and 100 year old businesses.
  - defrost 3y ago
    In Australia (like Austria but with more letters and less culture) they have Vogon poets: https://genius.com/Gina-rinehart-our-future-annotated https://genius.com/Gina-rinehart-our-future-annotated https://www.abc.net.au/local/stories/2012/02/15/3431797.htm https://www.abc.net.au/local/stories/2012/02/15/3431797.htm estimated net worth > $27 billion.

MattPalmer1086 3y ago

Did you mean to say "instead of the MEDIAN?"

WA 3y ago
Yes, my bad. I meant the median.