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> What happened to all the investors who intend to live comfortably in their old age? They got bought out by investors with shorter-term ambitions, because our
by nicoburns 2y ago
> What happened to all the investors who intend to live comfortably in their old age?
They got bought out by investors with shorter-term ambitions, because our economy is set up to reward short-termism, so those people end up with more capital (= market power), and this compounds over time.
- danielheath 2y agoIt's not readily obvious _how much_ more capital you end up with if you make slightly more profitable investment decisions. Saving $10k per annum and earning 10% on it will make you 1.6 million dollars after 30 years. If you can get 20% instead, you'll have 11.2 million. If you somehow managed to get 30%, you'd end up with over 87 million.