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Yeah, it's actually a little weird because typically as people become richer they become more risk-averse, as you have more to lose.
by rconti 2y ago
Yeah, it's actually a little weird because typically as people become richer they become more risk-averse, as you have more to lose.
- arrosenberg 2y agoRisk aversion can take different forms. A paranoid Larry Ellison vows to build a security state. A paranoid Andrew Carnegie built libraries, universities, and concert halls.
- johannes1234321 2y agoAt the same time: * You become that rich only if hoarding money brings you joy and is your key driver * You can buy a lot of things, thus one of the few challenges is becoming richer than the peers
- jrm4 2y agoThis is exactly backwards, I think. "Risk-averse" (really, wealth loving) people, uh, loving amassing wealth.
- disambiguation 2y agoAlternatively, there's no real risk if you still have a lot left over even after losing.
- aylmao 2y ago+1. It's very different gambling $10 million if it's all the money you have, vs if it's just 4.58% of your net worth, as is the case with Ellison for example.