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My friend says that he will be a billionaire before 30
09-20-2015, 11:16 PM
I'll be back in 8 years for a status update. Or let me hop in my time machine and find out right now.
Just got back. Nope he didn't do it.
And if you have read my serious posts you know I want the best for everyone. But as many have said setting that to be the goal misses the point. It is like all these fools talking about wanting to be rich but have no idea on how to get there.
If he ends up being worth 10 million by 30 that would be a huge accomplishment.
Smart is a very subjective term. Plenty of smart people that are not successful. Almost every SJW thinks they are a genius. Correct that, they all think they are geniuses. But rather than create a billion dollar business where everyone gets treated the way SJWs think they should, they spend all day on the Internet teling others what they should do to make other people's lives easier.
For some reason I am thinking of Don Quixote.
Fate whispers to the warrior, "You cannot withstand the storm." And the warrior whispers back, "I am the storm."
Women and children can be careless, but not men - Don Corleone
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My friend says that he will be a billionaire before 30
09-21-2015, 03:26 AM
Funny seeing the mention of Mark Cuban. He's an actual billionaire with a healthy non dork attitude (not a Mark Cuckerburg).
Mark sold his first business for 100 million at 32. Yes 32. It was the early 90s I believe. He then sold his second business in 99 to Yahoo for 1.8$ billion in yahoo stock.
A lot of this is timing. I'm more bummed I missed out on several bubbles in my lifetime. Seeing as i'm 26 and have nowhere near anything that high i'd be happy with a bubble pop and a nice 4 bedroom house. A million? Yeah I sadly don't see that happening. Maybe a business in my future.
I'm more pissed off I missed the 90s tech bubble. A lot of billionaires had their timing with a wee bit of luck just right. I doubt your friend will ever make a million, let alone a billion without a business idea of his own.
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My friend says that he will be a billionaire before 30
09-21-2015, 03:31 AM
Quote: (09-21-2015 03:26 AM)The Beast1 Wrote:
I'm more pissed off I missed the 90s tech bubble. A lot of billionaires had their timing with a wee bit of luck just right. I doubt your friend will ever make a million, let alone a billion without a business idea of his own.
Yeah there are a surprising number of names that came out of the tech bubble. For example, Tony Robbins is a product of the tech bubble, having sold his company before the bubble burst.
Trick is not to worry about the last bubble: that's just 'hindsight is 20/20' stuff. Just try to spot the next one and get there ready. There's always another one on the way.
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My friend says that he will be a billionaire before 30
09-21-2015, 09:56 AM
Good for him for aiming high but at the same time talk is cheap.
Is he currently doing anything to become a billionaire? I don't even care if it's something small like he started mowing lawns for money or started a blog or started selling stuff on ebay, every entrepreneurial journey starts somehwere but if he's not even doing that there's 0% chance of him becomming a billionaire.
The nice thing about aiming high is if he aims to be a billionaire and he only hits 10% of his goal he's still got a 100 million.
Every one of my friends when I was 18 or 19 said the same thing, maybe not a billion but all talked of cocaine, ferraris and hookers and that crazy life. All of them have good jobs but are working corporate jobs making 40k to 60k a year and none of them have any side hustles or entreprenurial ventures going.
I think the biggest thing anyone wanting success can do is do something. I can't tell you how many people I know talk but never take action. It's better to start something unprepared and fail than to sit around doing nothing.
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My friend says that he will be a billionaire before 30
09-21-2015, 12:52 PM
A lot of people are billionaires only because of unrealistic current share prices for their companies. In the fullness of time reality will test the implicit assumptions regarding future earnings baked into current share prices. Some will pass the test but many will fail. Many founders on the lower end will no longer be billionaires.
While I wouldn't be as harsh as Tuthmosis, he's right that a lot of smart people are smart, but too focused. A lot of Engineers are smart in the quantitative sense, and a lot of lawyers are smart in the verbal sense. But it's not likely that someone too narrowly focused will achieve really massive economic success. There's a great quote from someone associated with Warren Buffett, I think it was Charlie Munger, who said something to the effect that he has never met a single "ultra successful" person who was not extremely well read. And that Buffett is also an avid reader. Now obviously there are a lot of well read people who are poor, or at least not rich, but that strikes me as one of the more reasonable things that has been said about "how to get (really) rich".
A lot of the tech guys do seem narrowly focused, but I somehow suspect they both read extensively when young (Elon Musk apparently often read 10 hours a day as a kid), and have a natural broad interest in a wide variety of subjects. I mean, consider Bill Gates. Despite him almost certainly having mild Autism as a kid in his life he has still pursued varied interests, rather than remained a focused "geek".
Anyway, back to the OP. Focusing too much on a monetary amount won't work when the amount of money gets really big. That kind of focus is OK if you want to get your money by being a surgeon, Corporate Lawyer or Investment Banker, but if you're talking about US$1 billion + all the rules that work at US$1 - 5 million become warped. And the rate of warping increases the higher you go. Just being diligent, or a "good boy/girl" who follows a set path is not going to get you US1 billion. For that kind of money you will need to find an immense source of creativity that can't come from following a set path.
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My friend says that he will be a billionaire before 30
09-21-2015, 12:55 PM
I've met two billionaires that I know of.
In both cases, they put an investment of tens of millions of dollars into a particular product that paid off.
Does your friend have $30M to invest?
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My friend says that he will be a billionaire before 30
09-21-2015, 05:20 PM
Why aim so out of reach? 1 million by 30 and 10 million by 40 is a much safer bet
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My friend says that he will be a billionaire before 30
09-21-2015, 07:50 PM
I think in order to be a multi millionaire or billionaire you have to truly love money, I mean love it more than anything else and put it first in your life above all. You have to literally be obsessed with money, think about it every second of every single day.
Mark Cuban tells a story that when he was younger he didn't know what he wanted to be, he just knew he wanted to be rich and have a lot of money. I would say the odds are against the OP's friend, especially coming from the DR. However never underestimate someone who wants something so bad they obsess over it.
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My friend says that he will be a billionaire before 30
09-24-2015, 11:55 AM
Yeah it's possible. Becoming a billionaire is impossible. Millionaire before 30 is likely in 2015 though.
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My friend says that he will be a billionaire before 30
09-24-2015, 03:30 PM
People in the 80's used to say "I'm going to be a millionaire." It doesn't have the same ring to it anymore. So now, ambitious young people are saying 'billionaire'.
"I want to be a millionaire/billionaire" is a terrible goal. It's like having the New Years resolution "I want to be healthier." It's so vague, difficult to define and very far away at this point.
It will also be extremely difficult for anybody to achieve that goal. Why? Because what makes you think you'll keep going once you get past 5,50 or 500 million? If your goal is purely financial, you'll take your foot off the pedal once you're in the 'one percent'. It's human nature.
I agree with what an earlier poster said about "putting the horse before the cart". In most cases (Mark Zuckerberg, Bill Gates, Jack Ma) the billionaire status came as a by-product of impacting the lives of millions. I doubt it was ever the goal of any of them as 22-year-old.
Honestly, I think only a billionaire like Warren Buffett was conscious of the 'money game'. The other people I mentioned, Dr. Dre, Richard Branson etc. focussed on creating. The billions came indirectly and was never the objective in the beginning.
Book Recommendation: The book 'Obliquity' argues that our goals are best achieved 'indirectly'. For example, if you achieve an enviable lifestyle then hot women will come with it. If you create a worldwide brand then the billions will come by itself. Good read.
Finally, the weight of responsibility and loss of peace of mind that comes with being a billionaire might not be worth it. If somebody offered me a check for a billion or a low-maintenance/passive, $10,000 a month for the rest of my life I know which I would choose.
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My friend says that he will be a billionaire before 30
09-24-2015, 03:55 PM
I'm on my second billion as of right now. The first one didn't work out.
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My friend says that he will be a billionaire before 30
09-24-2015, 05:05 PM
Shoot for the stars hope you land on a mountain..... but don't shoot to far or you'll drown in the sea
Adam says to God, "God, why did you make women so soft ?"
God says, "So that you will like them."
Adam says to God, "God, why did you make women so warm and cuddly?"
God says, "So that you will like them."
Adam says to God, "But, God, why did you make them so stupid?"
God says, "So that they will like you"
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My friend says that he will be a billionaire before 30
09-24-2015, 05:17 PM
It is likely to happen to a few people from any given generation (becoming objectively fabulously wealthy - the value of being a billionaire is relative to the value of money obviously). Given this fact, it is unlikely to happen by accident. Some of those guys who get really fabulously wealthy will have done it by design. How much you make, whether it's 10 mil, 100 mil, or 1 bil, is largely a matter of luck, as has been said - right place, right time, right idea, and excellent execution. I know 3 billionaires, of which one has inherited their money (highly responsible and astute though), one made it as a result of the collapse of the USSR, and one made it through a brilliant piece of engineering which he claims took several thousand attempts to get right.
Neither of the two who made it themselves made it because it was their primary goal. One was just trying not to be poor anymore, and one just had a fanatical belief in the quality of his idea, and his ability to develop it. His primary motivator was that he had a brilliant solution to a problem in every household. Solving the problem was his driving motivation - having solved it, it was inevitable that he would become staggeringly rich as a result, but it could just as easily have made him 100 mil as what ended up happening.
Your friend may end up being a billionaire. I don't see any reason to hate on him - people who are driven by achieving financial success tend to do very well for themselves. And what are you going to say if he falls short and only makes millions instead? 'Haha, you're not a billionaire, your just very rich with a lifestyle I envy, I told you you were wrong and it would end up like this'?
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My friend says that he will be a billionaire before 30
09-24-2015, 08:06 PM
I find it interesting how ''every'' member here knows a billionaire. There are no more than 2000 billionaires in the world (not all are americans), yet many of you know a billionaire. Are you sure that they are billionaires? Billionaires are so rare that I am highly sceptical on the number of members here that personally know a billionaire.
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My friend says that he will be a billionaire before 30
09-25-2015, 03:19 AM
Quite sure. £ billionaires several times over, not $ billionaires.