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You can be dragged into lawsuits that never end. You have to mediate employee drama. You are responsible for paychecks which is stressful when the business is d
by gizmo 3y ago
You can be dragged into lawsuits that never end. You have to mediate employee drama. You are responsible for paychecks which is stressful when the business is deteriorating.
Owning a $100 million business is not at all like having $100 million in the stock market.
- Gud 3y agoI specifically mentioned diversifying as a means to limit risk. My post is not targeted to the people who have started a lifestyle business or someone who has built a $100M enterprise from the ground up. Much of the worlds wealth is concentrated through inheritance and the effect of compounding interest. A person of normal intelligence with a large inheritance can easily live off other peoples work by a diverse portfolio, accumulated by previous generations. Large wealth inheritance creates obvious power imbalances in any economic system, unless every participant(or most, anyway) in the system has themselves large amounts of inherited economic wealth. My (skilled) labour is valued somewhere at $50-$250/h. Yet, the offspring of the ultra rich("the owning class") receive x10-x100 of what i receive without lifting a finger.