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I don't understand the motivation to take big risks when you already have enough money to retire comfortably. I think after the point of material comfort has b
by nazgulnarsil 18y ago
I don't understand the motivation to take big risks when you already have enough money to retire comfortably. I think after the point of material comfort has been reached it becomes all about status and the actual purchasing power of additional dollars is completely lost on them.
- bootload 18y ago"... I don't understand the motivation to take big risks when you already have enough money to retire comfortably ..." Because after you have enough to retire comfortably it's not about 'wealth', it's about power and the accumulation of power.
- mhartl 18y agoI wholeheartedly agree, but here's the thing: though what you see is a guy with $100m, he once only had $10m, and bet it all; that's how he made $100m in the first place. It's only because of his foolish doubling down (combined with good luck) that you even notice him. Variance plus survivorship bias equals a lot of rich fools risking too much.