The Myth Of The "Self-Made" Billionaire
ฝัง
- เผยแพร่เมื่อ 15 พ.ค. 2024
- It’s no secret that Americans love to hear about billionaires. You’ll find them everywhere. They’re on the news [Bezos space launch], have their own TV shows, movies, and even make their way to elected office. Specifically, we consistently give massive audiences to “self-made” billionaires, the people who, unlike the aristocrats and monarchs of yore, didn’t simply inherit their wealth. In this episode, we’re talking about the obsession with so-called “self-made” billionaires, how misleading that term can be, and everything wrong with the myth of the “self-made person.”
The Myth Of The "Self-Made" Billionaire - Second Thought
SUBSCRIBE HERE: bit.ly/2nFsvTS
New video every Friday!
Citations and Further Reading:
www.insideedition.com/ohio-pi...
newrepublic.com/article/16050...
www.businessinsider.co.za/how... www.businessinsider.com/elon-... www.insidehook.com/article/hi...
www.cnbc.com/2020/12/10/elon-...
• Amazon Success Story (...
en.wikipedia.org/wiki/Jeff_Bezos
web.archive.org/web/200902042...
• K is for Karl - Exploi...
newrepublic.com/article/16050...
• Why No One - Not Even ...
glassclothing.com/beyonce-and...
www.nytimes.com/2015/05/27/bu...
www.independent.co.uk/life-st...
/ 1211071324518531072
www.forbes.com/sites/kerryado...
Follow and Support Second Thought!
Twitter: / _secondthought
Patreon: / secondthought
BuyMeACoffee: www.buymeacoffee.com/secondth...
CashApp: $JTChapman
Watch More Second Thought:
Latest Uploads: • Playlist
Spaaaaaace!: • Playlist
What If...: • Playlist
Popular Videos: • Popular Videos | Secon...
About Second Thought:
Second Thought is a channel devoted to education and analysis of current events from a Leftist perspective. Welcome!
Business Email: secondthoughtchannel@gmail.com
"If wealth was the inevitable result of hard work and enterprise, every woman in Africa would be a millionaire." - George Monbiot
Great Quote, i will try to remember it.
First of all you have to live in a country with capitalism and respect for private property. I don't think most countries in Africa lives up to this.
Secondly. Hard work and enterprise is not a guarantee for success but is usually a prerequisite. But there are other factors involved.
I would not suggest laziness if you want to become rich.
@@BarrySlisk By far the most important factor is luck. Talent is one form of luck, being at the right place at the right time, being born at the best place with somewhat wealthy parents, knowing the right people, not getting to sick etc.
Btw. capitalism is not absolut neccessary. There are also a number of billionaires in countries with not so free markets.
But yes being smart and hardworking helps but with that alone you get maximum a place in the middle class. The world is full of hardworking people.
Loyal friends is all you need in most cases, arrogant people think they can do everything alone.
@@BarrySlisk
That's ignoring the Cold War history. Every countries in Africa are capitalists, and during the time when one of them managed to elect a socialist government, which resulted in increasing health and educational outcome for a brief period until it was overthrown quickly by the west or US-backed military.
Growing up rich doesn't just give you money but also gives you connections to people in high places. I grew up around some of those rich people, they got away with a lot of trouble by knowing the right people.
i´m curious about how was your experience about growing up around rich people (supposing you were/are not rich)
did just the fact of knowing some rich people and growing up with them helped you in your life? like getting a nicer job for example?
i´m curious if anyone could start to work to or close to millionaire people (and eventually turn into friends) would get any benefits of it and eventually get a little more wealthier
@@yousandro1999 I'm poor as fuck and i was when I was a kid. I had rich friends all the way until middle school when their opinions of my social class became a thing. As of writing this I have zero wealthy friends and haven't since elementary school.
@@Exspazament oh okay got it, i thought you had rich friends till later ages (at least university)
It does give you money like what…
Clown
Billionaires don't even live off of their money. They use their assets as collateral to get massive loans at low interest rates. Since the loans are liabilities they don't have to pay taxes on it. Meanwhile their assets appreciate in value that they are not taxed on, because they are not selling.
So they are making money out thin air?
Mind fuck
Well, there's not too much to choose over money, just health and love, and money gives you a big access to health, and freedom to express love, money is only bad when you use it wrong, so yeah
Thanks for the tip! I’ll keep this in mind
Unfortunately, most people…including many politicians…since they don’t understand the tax codes and loopholes are aware of that strategy. However, many are being made aware and want to pass laws that tax assets and appreciation of said assets…but that’s tricky when price points and values, especially in stocks, etc, are constantly changing. Plus, the masses of Americans are constantly tricked by the wealthy to defend this status quo…because someday they will inherit this system.
I mean, who doesn’t have parents with a spare $300K laying around to invest in your business?
@@___________2204 It may not be considered rich by your standards, but it's certainly not living off of $50 a week for a family of four with a baby is it? Whether or not it was something they had "spare", it was something they had access to. That family of four is lucky if they have access to government payments or affordable healthcare.
@@___________2204 most people with 300k only don’t have it in a liquid way or have the ability to invest it
Of course parents have, there are 18.6 MILLION millionaires in the US. The US is not a dystopia with a couple of zillionaires and rest slaves. There's serious wealth out there and lots of people holding it.
Yes our current system has problems specially in the healthcare industry, but let us be clear: the healthcare industry is a complete cartel which uses regulations and uncompetitive behaviour to extract ‘rents’. Just like you can point out “that’s not real communism” when failures of communism come up, anyone will tell you that conspiring to create the free market unfree is not real capitalism.
@@a.16.g in medieval Europe 5/100 or so of people were nobles or knights.
@@a.16.g Do you live in the real world?? Have you ever had friends? This kind of advantage is unimaginable for most Americans. Yes, a lot of people have a lot of money. But when you look at wealth distribution and the average American, America is fucked.
Friendly reminder that it used to be possible for a single income to support a family with multiple children, a new car, and a mortgage. Now families can barely do that with dual incomes.
Ha barely. How about cant. We can afford rent and if lucky food enough to last till the next paycheck.
We cant afford children.
A car.
A mortgage.
Man im getting depressed thinking about it. Even with two people.
My favorite example of this is the fact that over its 30 year run, the titular family on The Simpsons went from an average working class family to upper middle class borderline wealthy with no actual changes in their material conditions.
My parents saved for years for a new dishwasher. People nowadays think they can just run out to get a major item anytime they want. Our standard of living has increased immensely in the last few decades. Just take a look at the supercomputer you have at your disposal.
@@didiermontagnier6114 You mean the factory made one that I bought because CPUs cost like 3400 dollars? Or the car that you need to put a mortgage on just to purchase. How about the health costs that are the equivalent of 4 whole houses depending on how serious it is. That your health insurance costing you practically half a paycheck wont cover.
@@didiermontagnier6114 Technology will always be improving our quality of life regardless of the organization of our economy. We have access to some nice technologies, but rent and mortgage are taking a larger and larger percentage of our monthly income, lots of people facing eviction and homelessness because of inflated property values. Back in the day we had unions and labor protections and well-paying jobs, nowadays it's thankless low-paying service work and gig jobs as far as the eye can see. We could have good protections for the poor AND good technology at the same time, ya know.
A billionaire that is trying to convince you that you can pull yourself up by the boot straps and become a billionaire just like them if you just work hard and put in hundred hour weeks is not really convincing you that you can be a billionaire but grooming you to exploit your labour.
And that's why most of people are still poor, they keep believing in a fair world that doesn't exist, I will try to be a millionaire, I don't have to have slaves, only workers, and I'll do it cuz I want to give me and my family the possibility to enjoy the life outside slavery, if I were to complain I would not achieve anything, and if I fail, the worst would be to stay as I am right now, so what do I have to lose?
@@andresleon2293 complaining is fun, tho. You can whine and bitch while still working towards something. It's called multitasking
@@thatdumbass9856 :D yeah
@@thatdumbass9856 Complaining isn’t fun. It’s just annoying and nonproductive lol
@@themusicman669 go away
All he had was a dream, his intelligence....and an emerald mine
😂
A few have billions because billions have nothing.
@h@te US Depends. For example, did East India Company break and/or violate?
@Oily capitalist because the laws are created by those with money and power, so the laws they create will allow them to justify exploitation
@@samdavies2573 so true
@@IMPERIALISM397 Extremely naive to believe they didn't. Almost as naive as believing that breaking laws is the only way to be a despicable piece of shit.
@@andreylebedenko1260 no, if India had a functioning society a tea company would've been unable to take the whole subcontinent over
You are always 3 bad months away from being homeless. You are never 3 good months away from being a billionaire.
Yep, this is totally true.
I love your profile picture, nice Mazda RX-7
Just take the pandemic, many people became homeless. Ironically housing has increased during a pandemic.
3 lottery tickets away ;)
@@therearenoshortcuts9868 The vast majority of humans will never win a single lottery jackpot in their entire lifespan. It's a vast fraud scheme to trap working class people in a Ponzi network.
I saw an ad a few days ago, where they talk about why it’s GOOD that the rich don’t pay much in taxes, and how the wealth they save can be reinvested and lead to innovation.
It sounded like bull crap, and I hope you cover it someday
All you need do, is look up the epipen fiasco, and how the company squashed a more affordable option, then started to sell their epipens only in 2 packs so they could drive up their profit margins. The only "innovation" megacorps create, are ways to make more money for themselves.
This video already kinda debunks that idea when it talks about corporate welfare, particularly in the pharma industry. Research and innovation is almost exclusively funded by the government, and then credited to private companies who secure the rights to turn the results of that research into a profitable product. The research itself isn't profitable - you always risk the possibility that you don't come up with anything you can sell, and if you're a company, scientific knowledge as a means in itself without profit in the equation is less than useless. Companies won't take that risk, they won't make an investment that might be fruitless. Without public funding the rate of scientific discovery and innovation would be close to zero. People like Elon Musk and Jeff Bezos in particular never discovered or "invented" anything. They had an idea to take something that already existed and put it on the internet. Lots of people had that idea, they just happened to be the ones that had the financial backing to do it.
“It’s GOOD that the rich don’t pay much in taxes!” -likely a paid-for talk piece funded by one of these tax-evading, white-collar wimps.
thats the neoliberal bullshit dream.
i saw the same ad
I am a part time Uber driver. The other day I picked up someone that has seen their share of hard times. He was a veteran that lost most of his teeth to past problems with drugs. It was nice to see that he is currently doing better, working and living in subsidized housing. He was mostly bashing our current president (Biden) and glorifying Trump, because "he is a self made man, and I can respect that". I don't know how, even amongst the most needed, battled and bruised of us, there are still people who worship these guys.
He just respects those people, what's wrong about that? It is not like he sold his own children to buy an exclusive Trump body pillow or something.
Self made based on the $1M his daddy gave him.... and got him out of a scrape every time he messed up.
@@chrish2277 turning a million to a billion isn't easy
Stop pretending these guys do nothing.
Not everyone who had a million eventually turned it into a billion. Give them credit for their work
@@adeyinkacharles6795 Yeah being exploitative you mean, i credit them for that.
How many times has Trump filed for bankruptcy?
We know Trump is a fraudster...
And also… even if the parents don’t ‘fund’ the kids’ ventures financially; just the sheer fact that they grew up rich, around rich (and maybe even famous) people helps a tremendous amount. You wouldn’t believe how much financial culture sticks to a kid. There’s the famous story about Elon how he and Kimball cold called investors to get funds for their company - well obviously knowing how to talk to rich people, what they’re like and such is in huge part responsible for them being able to even successfully ask for a meeting over lunch.
If you dont have the charisma, intellect, highly motivated personality traits to get things done and not being neurotic when things goes wrong, AND without a good idea; try to understand why you are not rich. Instead filled with jealousy and unable to admit how lacking you are in all of these categories. Look at youtubers as an example, got a good marketable idea and the means to execute it? IMPLEMENT IT, if it's popular it will sells.
You sound like some nobody with nothing special and filled with envy.
Very true. The education they get, the contacts they make, and the implication that their family name gives them legitimacy and financial stability, makes it a million times easier for these kids to get capital, start a business, FAIL, try again, FAIL AGAIN, and keep going til they get a working business model.
Middle-class kids might get one chance if they're lucky.
Poor kids obviously NEVER get a chance outside of sport/crime/music.
they literally know who to call.. your everyday working class people can’t cold call a random millionaire that’s a friend of a friend
@@zacharydavis3379 Your everyday working class are usually the masses that think they have a good idea, but it just a low IQ scam or doomed to fail.
Those with actual talent and is marketable have no trouble gathering support or expanding their business.
Tired of seeing people like you guys, got nothing and think the factor that's holding you back is help. All you want is free handouts to live on.
I don't understand what is the big deal with it? U are making it as if being born to a rich parent is such a big sin. If the kid ends up being a loser and not follow up to their parents success, everybody will say what a spoil brat loser u r. If you work hard and had success of your own people will say, u only get success because of your parents. Nothing they do will ever amount to anything. So what are they supposed to do? People should stop feeling jealous over other people especially people u dont even know.
America where everyone is taught they're a pending billionaire.
#Lawan?
You just need to grind, bro. Just need to work on your mindset, now buy my book and subscribe to my patreon.
Well to be fair the Rich are getting Richer in every First World Developed Country
@Zaydan Naufal even social Democratic like Sweden and the Netherlands Have high Wealth Inequality in Fact The Netherlands and Sweden havve actually worse inequality then the US
According to the world Popualtion Index by wealth Inequality
1.Netherlands
2.Russia
3.Sweden
4. USA
5.Brazil
@@bradley8575 sweden is actually pretty right wing. Look up the sweden democrats.
It always makes me smile when I hear stories about annoyed young VIPs who "finally want to step out of their parents' shadows". Without their parents' connections there wouldn't even have been a shadow to them.
Everytime I hear something like this, I always want to say to them, hey man try being us. Your dad gives you money to start a business, my dad asks me for money. We're not the same. 😂
Have you heard of Prince Harry???
Without those parental shadows, they would fail even quicker than us.
That's what. They earn those money by duping the laborers and well connected networking
Isn't networking worth something? Be it parents or influential person
The one thing that truly upsets me is why? What do you need that much money for, honestly? So flagrantly selfish and stupid, but people get so easily duped and drawn into the illusion that the rich deserve it because they just "work hard". No one deserves to horde OUR resources, but throughout history we always fall into the same trap.
Sorry for the late response, but i was curious what do you think would happen if our Hunter-Gatherer Ancestors caught someone stealing and hoarding resourses for himself from the tribe ?
Would he be praised as the smartest and wisest ... or would he be "stoned" :D
What make you think you have the right to someone else resources?
@@yannickgeudens5192 the real question
@@yannickgeudens5192 it’s not about that, it’s just clearly wrong when you see how much suffering is happening in the world and the huge gap between poor and rich people. It’s unnecessary and wrong. It’s just greed
They need this much money for fame, privileges and luxury.
Oh, and to just have much money.
After I graduated from Harvard I decided to sell the Ferrari my parents bought for me to start my own carrier as "self made person"
So I don't have to thank my parents and my wealth is the result of my hard work
This video should be required viewing for every billionaire in America! It sums up why America in the shape it’s in. Sadly, we elect politicians to make sure the billionaires pay their fair share in taxes, but instead, the billionaire sells them the idea that if they have to pay taxes, they won’t be able to keep their poorly paid thousands of workers. Then they pay the politician money through their campaign to sell the idea to the public, hence the Republican party. The party of the white males and their billionaire’s club.
LoL
People are so jealous of other people's success
Lmao! This is hilarious! I love this kind of humor.
@@secrets.295 what does the boot leather taste like?
As an employee of an Amazon owned company, I cant tell you how infuriating it is to argue with brain washed coworkers that says "Bezos only takes a salary of $81k per year". Oh yea, thats exactly why he was able to buy a yacht for his yacht.
I hope that you show at least one of them this video!
LMAO 81K A YEAR
He may have a salary of 81k a year, but as far as i know the breadth of CEO income comes from bonuses that are much larger than the salary. Bonuses are also exempt from income tax.
The point is why he bought a yacht?? He will not use it that much!! Unless... if it is a strategy for tax deduction 🤔🤔🤔🤔
Now I understand why he is becoming even richer!!
And his wealth in stock
In Hungarian we have a sarcastic expression about these self-made millionaires:
"Just don't ask about the first one million!"
Means that if you would look how they become rich, you would found hypocrisy, corruption and shady deals.
Brilliant
"A small load of a million dollars"
"Means that if you would look how they become rich, you would found hypocrisy, corruption and shady deals."
Alright Fuck you many many millionaires are honest people. Perhaps not in your corrupt nation.
You mean Dictator Orbans relatives xD
@Jing Bot 18 million millionaires in the USA… go figure out yourself.
You don't get rich through hard work, ambition and entrepreneurial spirit alone - it also takes greed, ruthlessness, self-interest and a complete subordination of ethical values to material gain.
my view is that hard work, ambition and entrepreneurial spirit alone can certainly make you rich! those that go for utter wold domination does take the extra elements mentioned.
That pizzeria made 7,500 in a whole day and everyone ran off with 78 an hour that day. The restaurant I work at made almost 10,000 in a mere 3 hours the other night. I still only made 18.50 an hour, even though I almost passed out from heat stroke.
Edit: if all of us employees divided up the profits from our dinner shifts, we would’ve each made around $445.45 an hour.
Conservatives would get heart attacks if they ever heard about you making $445.45 an hour, and the media would start gaslighting you about "How your selfishness is driving up inflation"
@@GhostRangerr liberals when they hear the noise of money- "must be the conservatives"
Thats all cool but if your employer did that there would be no money left to put back into the business wich means no growth no more Jobs offerd to people who have mounths to feed no more money into the economy and Absolutely no reason for anyone ever to want to start their own company because why when you can get paid 78$ to flip pizzas or hundreds to wait tables its ridiculous there needs to be profit at the top of each business otherwise the business wouldn't be worth having and you would be put of a job
@@DaimonTrilogy That would be ideal but how would a person that wanted more for their family and more for their people get that? when there is no financial gain? what would they be able to do to better themselves and their family? They would get the same as some slum who just wants to get High All day and do nothing. I think financial gain is a great way to drive Sociaty just at the extremes it gets bad
@@DaimonTrilogy I fully understand that and I think life is about both giving and receiving, Im choseing to forgo those luxurys like your art and programming just its more outdoorsy stuff for me in my younger years to work and work hard so that when im older I do have the financial freedom you are wanting I think this video is for people who want freedom and financial freedom without working for it, life is hard thats just how it is I genuinely belive those who have the will power and work hard should and do get futher in life faster, it truly is a shame that you have to give up some of your hobbies but personally i would think your family definitely matters more and if you work hard and give alot now there is a good chnace that you can get that freedom later in life when your hard work has payed off
"The most hard-working person on a collective farm was a horse, but she never became the head of the farm". - a Soviet saying :)
@@jasperzanovich2504 It wasn't dervied from Animal Farm. Animal Farm was not published in the USSR as far as I know. People's livelihoods don't begin and end with the work of western authors.
@@jasperzanovich2504 No need to be super ignorant either, but you are.
waaaaiit a minute - but there were zero billionaires in Soviet Union! so it didn`t help?!
@@AntonioHorhes It references the party leadership you dork :D
@@TheTeodorsoldierabvb May I ask how far do you actually know? As far as to hear a word or two about illegally spread self-published books may be?
The "self-made" part is a ever moving goalpost. You don't have to be a heir of a billionaire, you only need to be a heir of a millionaire to become a billionaire. Anyone that had ever live through poverty before knew that it's expensive being poor, it's far easier to turn a hundred thousand dollars into billions than a hundred dollars into billions. Also, a business owner with a rich parent have a safety net if they went bankrupted, and they can try again quickly, while a small business owner from a poor background will lose everything if they went bankrupted.
Which is why
Socialism is the capitalism for the society.
@@Sinaeb wait what?
@Jean Sanchez Society Social Socialism
Capitalism Capital Rich people (as they own the "capital" idk how to explain it correctly)
@Jean Sanchez I think he means in the sense that the right wing tries to paint capitalism as the ‘fair’ system but in reality socialism is?
Plus, there are a lot of wealthy people in this country, and their kids are always getting handouts to try to start businesses that almost without exception fail miserably. But they have the luxury of being able to try it, and try it again, and keep failing without consequences. If you throw enough darts at a dart board you're bound to hit a bullseye eventually - but working class people go into the game with no darts at all and have to bargain and scrape and pray to even get a single shot with no guarantee of ever having another try.
My heart just breaks when reading the comment section.
I'm glad that many people watched this so they know that success is not an equation. Hard work+time=success
If it's true my dear dad would be a millionaire
@@Twtgod at the wrong thing👌🏽
@@practicemakesprofits keep moving goal posts / inserting deflectatory / delfectionary measures
@@Twtgod So instead of talibg care of his family he should only use his money to inprove himself?
Hard work+time+work smart+luck=success
Exactly. If this were true, both of my patients would be millionaires
I would add 4th most underestimated factor of how someone becomes a billionaire. Luck. It is incredible to what extent our ego suppresses the importance of luck. Only a few had the oportunity of multiple conditions aligning at the right time.
You can see that in their later decisions. For example when Elon thinks he knows exactly what he is doing but in reality it was just a sheer luck and now he is making things even worse.
Jeff Bezos also had luck, he started his online businnes in the time when the Internet started to grow in popularity.
@zjayx3 Mate, to be something doesn't mean you have to be rich or famous. You can dedicate your life to so many more meaningful purposes.
@@connor_flanigan It takes hard work AND luck. Majority of hard working people never become billionaires.
Depends on your definition of luck. For me every person is lucky 4 times and the rest is circumstances/conditions and the ability to respond to them. The irony is that your ability to respond heavily relies on your initial luck.
1. Being born 2. When you are born 3. To whom you are born 4. Where you are born.
So luck for me is both, circumstances we have no control over that will benefit us or hinder us and a series of decisions which either leads us to more choices or less. Unfortunately the luck we have no control over, severely impacts our ability to create options for ourselves that may or may not contribute to our success.
@zjayx3 please give me your large list of examples then
This kind of myth can only exist in a hyper-individualistic culture.
Yep
@@el5880 is this a channel for socialists?
@@nofurtherwest3474 yes
@@_Nyx_Raven_ interesting thanks. not a place for me, but in the name of free speech have at it. There are clear holes in many of the videos' arguments. try to see them
@@nofurtherwest3474 Hey I am also a free speech abslolutist !!!🥰
Billionaires: Government giving money for free is bad for the society
Also billionaires: Taking free money from people's taxes
That's basically the Trump manifesto right there.
@@geoengr3 , actually, that has been a bipartisan gimmick for decades since ronald reagan supported trickle economics.
this makes literally no sense but whatever
@@immigrantgaming420epic guess you've never heard of subsidies?
@@immigrantgaming420epic Amazon paid 0% in taxes last year, while its employees pay into Social Security, Medicare, and other state and federal taxes. Amazon makes extensive use of U.S. roads, bridges, tunnels, and other infrastructure, yet pays nothing to help maintain them. Meanwhile, its warehouse worker boast injury rates many times the industry standard, and the average taxpayer foots the bill.
Walmart employees rely on food stamps and Medicaid because they are paid so little-- essentially, everyone but Wal Mart footing the bill. Corporations pay significantly less than ordinary people do, and all of OUR money goes back into subsidizing their exploitation.
My favourite post that I ever saw:
"NO MORE BILLIONARES!
Everyone's net worth should be locked at $999,999.99, and every red cent you make above this will go to heathcare and education.
You get a trophy labelled 'I won Capitalism!' and we name a dog park after you."
Rather have a library named after me. But you realize that most Millennial and younger generation neen 2-3 million to retire. A million isn't enough.
Well when I get that much I’m just going to deliberately buy stuff I don’t need so I can keep the money or just but good to get round it, that sounds like a good way to destroy a nation and a currency as most stuff is above a million and even a billion
It would be interesting to do a brain scan on every billionaire to find out how many of them are sociopaths.
given we've seen that wealthy people are on average less empathetic, it would be probably much higher than the general average
Psychopaths you mean. There are key differences between sociopathic and psychopathic behavior.
@@jangamecuberyep, rich people are evil
Psychopaths actually
I believe it was Arnold Schwarzenegger who said that no one is self-made. There are many people along the way that helped you in one way or another.
Yes 👍 he did also!
That's such a stupid thing to say.
The vast majority of "help" successful people get was paid for by something.
You stay late after work so your boss can teach you some new software so you can do it instead of him tomorrow. win win scenario for both people. (you get free education and he gets a more valuable employee)
You hire someone to work at your warehouse and they take the job because it's the best they can get right now. win win scenario for both people.(you get a worker at a price which allows for a profit on their labor and they get the best income they can find)
If you paid for something then they didn't help you so much as you helped yourself via them.
@@kkknotcool yeah... but as the video says, almost every (if not all) of those payments are actually lower than it should.
@@Parry.Hotter Who says it's too low? Definitely not the buyer or seller, because they keep wanting to exchange things. Neither the seller or buyer is obligated to buy or sell, and therefore they can't be paying too low.
@@kkknotcool if everyone actually got paid their worth they would get paid a lot more. See video, day of fair wages by the owner.
For billionaires specifically, it usually gets down to how willing the person is to abuse/use others, with very few exceptions
Name a business that doesn't abuse/use others thats the whole point of a business
Also have an inheritance of a couple million dollars to start with.
It’s impossible to make 1 billion dollars ethically, but the problem is that people can’t comprehend how big 1 billion is. If someone is alive for 1 million seconds, they’ve been alive for 1 and a half weeks, more or less. If someone’s been alive for 1 billion seconds, they’ve been alive for 31.5 years. You can’t make 31.5 years of money ethically, you need to exploit someone
I think that’s where the sell your soul concept comes in..some ppl take it too literally, but either way! I pray they get a wake up call, at the very least when they die 🤷🏻♀️ doesn’t seem like anyone is learning it now here while alive smh
@@Gebri3l Excuse me have you heard of the USA medical industry?
Current day Pharaohs and we’re just building their pyramids with 30 min lunch breaks and 8-12 hour days sigh 😔
“No billionaire has ever gotten to their status by ethical means.” No lies detected.
It's weird how billionaires get to a point where they have literally anything money can buy and the wealth grows so much they can never spend it, yet they need more money regardless of the wellbeing of the people around them
Yah its crazy how these companies claw for more and more but they literally dont need it because they already have enough
Greed
@Zaydan Naufal Its literally their money
@Zaydan Naufal There are billonaries who do that, but there is nothing better than own will, because you want to do something good
@Zaydan Naufal Well thats fitting for a brecht quote
"Rich man and poor man Stood there and looked at each other. And the poor man said pale: If I were not poor, you would not be rich."
Sounds better in german tho
Reicher Mann und armer Mann
Standen da und sahn sich an.
Und der Arme sagte bleich:
Wär ich nicht arm, wärst du nicht reich
"I started with nothing. Of course, I'm using my current billions as the basis of comparison so the $150,000 I actually started with counts as 'nothing' to me." -Billionaires
"A small loan of a million dollars"
My favourite one is: "I had $5 in my pocket, and... [insert cliché phrase "I became billionare in 2 years" here]"
@@YonyGut1MoviesandVideogames he must have forgotten the millions in his bank account - weird the things they forget right?
@@SharienGaming How convenient. They're full of BS.
@@YonyGut1MoviesandVideogames exactly! no one gets rich on their own... its always exploitation... its like the lottery... for one person to get rich... millions have to lose
The story of the Musk family's stake in an emerald mine seems to be more complex than is typically presented. Snopes has done some excellent reporting on it, including the fact that some articles about the mine story have mysteriously vanished (looking at you, Forbes).
His father said that he paid for his education and gave him money for expenses. It’s also true that Musk spent millions to buy his way into Tesla and then buy his way up the cooperate chain. Where did he get those millions?
@@criert135 He got them from his first business, which he sold to Paypal.
@@jimbarino2Musk used to wander around the city with huge fistfuls of money in his back pocket as a kid, given to him by mummy and daddy. He had it easy from the start
Let’s put it this way- we wouldn’t know who Donald Trump is without his dad. I can’t imagine a universe where Donald creates anything on his own.
Donnie also isnt a billionaire, but he desperately wants people to think he is. Hes not even close.
It's amazing how so many who are presented as "self-made" actually inherited massive wealth.
I used to work for a French aristocrat, yes they still exist.
Based on the number of properties she nonchalantly mentioned she owned around the world, their size and location, private jet hire for children and their friends, 90% of her life being on 'holiday' etc, my colleagues and I estimated at least 100 million in wealth.
Never worked a day in her life, if we ever tried to get a raise or something beneficial she'd revert to the same story about how she was an intern in a hospital, and it was so difficult, so we shouldn't complain.
Meeting this person really opened my eyes to the myth of 'self made' billionaires and how we're all in this together. Life is impossibly unfair.
We are peeps stuck in the maze. These people own the maze.
Sounds like the world wouldn't weep if this woman and her kids went down in a plane crash. Lets hope that happens.
Ouin ouin 😫
"That whenever any Form of Government becomes destructive of these ends, it is the right of the People to alter or to abolish it, and to institute new Government..." - Thomas Jefferson
#DirectDemocracy
#GiftEconomy
No permission necessary.
Very true life is unfair ...but you gotta take what is handed to you. The best way is to gain favor in the eyes of men that opens doors for you
Medical and pharmaceutical research and development used to be done largely on university campuses. Privatizing to for-profit status of a number of formerly government-run services is a huge part of the skyrocketing costs of education, healthcare, and housing, among many others.
Secondary like button
↓
Yes because with private ownership the owners will increase prices to increase their profits, with no concern or accountability to workers. We need to establish worker-led housing collectives.
That research is still done on university campuses and receives significant public funding.
@@person-yu8cu Only when there isn’t competition
@@Piketom1 Problem is that the research is done with public funding but the profits are kept private...
It’s pretty much like a giant pyramid scheme that we’re all just unwillingly participating in😂
After a horrendous 2022, shell-stunned financial backers have misfortunes to recover and a lot to consider, as an expansion report and a pile of different information did close to nothing to change assumptions that the Central bank would probably keep climbing intrest rates regardless of whether the economy dials back, And that implies more red ink for portfolios for the principal quarter of year 2023. How might I benefit from the ongoing unstable market, I'm currently at a junction choosing if to exchange my $250k security/stock portfolio.
Center around two key targets. In the first place, remain safeguarded by realizing when to offer stocks to cut misfortunes and catch benefits. Second, get ready to benefit when the market turns around.I suggest you look for the direction a representative or monetary consultant.
Indeed, I have been in consistent contact with monetary examiners since Coronavirus. Purchasing moving stocks is truly simple nowadays, yet the test is choosing when to purchase and when to sell. My counsel decides the section and leave orders for my portfolio. Amassed more than $550,000 from an at first stale $150,000 save.
@@richiegiggs Could you please leave your investment advisor details here? I need it urgently.
@@tblazegutt My consultant is KIMBERLY JEAN HEAVNER. From that point forward, she has given section and leave focuses to protections that I have been watching out for. On the off chance that you're interested about the chief, you can find it on the web. I fundamentally followed their exchanging design and regret nothing.
@@richiegiggs Much appreciated, I gazed her upward on the web and was profoundly dazzled by her qualifications; I reached out to her since I really want all the assist I with canning get. I just set up a call.
99% of the peoples dream is to reach to a level from where the 1% had started.
@@donHooligan Breaking Bad Heisenberg?
Exactly. I just want to be able to pay rent and eat at the same time .-.
Yeh that’s my dad, it’s kinda sad sometimes
@@Sa5mmieArtist literally just live with your parents while working, save every penny and buy a house, doesnt have to be a great house, 40-50k home, and bam you are set, now every paycheck is food and other stuff lol
@@captainstabbin5374 40-50k home? You can't get a home for that, if you're lucky you can get a parking garage or a shack, in which you always have to expect to be shot
"Risking it all" is a privilege that only rich people have. They in fact never actually risk it ALL like normal Americans would if they followed in their footsteps.
Even if they were really risking it all, what exactly are they risking? They're risking the horrible fate of becoming working class. Say it ain't so!
I risked it all when my girlfriend and I were barely making ends meet. I now have a business with 7 employees. It's very possible
@@dakattack8900 😅 got me in the first half ngl
@@dakattack8900 I doubt you are a billionaire though and not everyone can do that and most people that try, fail
@@jasonturner6459 You are correct, I'm not a billionaire. No not everyone can do it, it's a stupid amount of work. But just because not everyone can doesn't mean it should be disincentived, taxed away, looked down upon, etc.
The real goal would be what system creates the most opportunities for the most amount of people, especially for those in the lower echelons.
What is clear in it's ability increase standard of living, purchasing power, and income mobility, not just including but especially for those near the bottom are free markets.
They've been tested and proven to create wealth across all parts of society. It's why Rome was wealthy, why Egypt was wealthy, why China was wealthy until they centralized economic decision making, and lastly why America became the wealthiest country on earth.
To this day, if you look at the wealthiest countries on earth and the countries that are moving up quickly, they all have 1 thing in common. Economic freedom. The pandemic has changed a lot but at least up until 2019 the trend is very clear.
I can assure you that most people know there are no self-made billionaires. They just believe that they too can become a billionaire, they don't want everyone to be equal, they want to be special and have it all themselves.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
I believe that diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
Indeed, many people minimize the significance of advisors until their own feelings burn them out. After a protracted divorce, I needed a boost to keep my firm viable, so a few summers ago, I looked for licensed consultants and found someone with the highest qualifications. My reserve has increased from $275k to $850k thanks to her assistance, even with inflation.
I need help rebuilding my portfolio and coming up with more effective strategies because of the big drops. where I can find this coach.
NYCOLE CHRISTINA VANNATA is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks a lot for this suggestion. I needed this myself, I looked her up, saw her webpage and I have sent her an email. I hope she gets back to me soon.
I studied these guys and I know for sure most of these guys are already richer than all of us when they were born. They have access to high quality education, inheritance, powerful mentors (i.e. parents who are connected to influential people, etc.)
Even Jay Z?
@@asherujudo7383 somebody invested in Jay Z
Wasn’t Bezos the son of a single mother, a (literal) absentee circus clown father, and then his mom married a Cuban refugee? What fortune did he come from again?
Wasn’t Musk estranged from his father?
Regardless: aren’t they *all* geniuses?
@@krankenwagen8075 Self made doesn't mean that you invented the concept of money. It just means your parents or rich uncle or anyone else didn't hand it to you. You just went out into the world, learned a skill or took a crazy risk and you made it to where you are. Jay Z is my favorite rapper so I know quite a bit about his life. He started from the Marcy Housing projects. Do you know what that means? He was broke-broke. Dude was so broke, when he was a kid, he went to his teacher's house and was impressed by things like her ice maker. Like, that thing in the fridge that you turn and it pours ice cubes into a container or a glass. That blew him away. You'll be surprised how many rich people started from nothing.
Look at Taylor Swift or Arianna Grande, shit is a joke
Buying your way onto the board of directors of already existing companies, buying companies out from under their founders, and reaping the profits of other people's ideas is definitely a "self-made" kind of thing to do. Totally.
Isn't that bribing with extra steps?
The founders and original patent holders still got some money from the purchase though.
also known as the Machiavelli playbook
Self made was supposed to mean bring born into wealth or not. Now it's being used in completely different contexts.
@@ethanwmonster9075 andc orruption and lucj
I have observed the more money and resources a person has, the more inhumane and subhuman they become.
the less intellectually capable they are along with knowledgability and expansion of consciousness / mental maturity cognative aptitude
This is why we need a billionaire hunger Games, every year the twelve richest people get rounded up and put in the pit, last one alive gets to keep their money (meaning they will still be in the top 12 if they don't get rid of it). It would be a race to pay as many taxes as possible. Philanthropy that actually spent money on public works.
I call it a modern modest proposal.
My wife, who is *obsessed* with Rihanna, had a job interview for her company. Something she's dreamed about since Fenty brand first dropped. Come to find out that the pay for the position she wanted is criminally low.
So... *that* was the end of that.
That's another exploitative thing. You should accept less pay for the privilege of working at company A. And because people will accept the job, they get away with it.
Worship and alligance to a face (in this case Rihanna) will blind so many in giving up their money and accepting less than what they are worth. I’m glad your wife didn’t take the job!
I like how people hate billionaires exploiting their workers as if people can do anything about it lol…
@@clickbaitpolice1750 the fact that they have billions but still pay their employees a misery sigh
@@veruskatorres9276 don’t work there then lol.
Just have to ad, that Bezos had more than just 300K in starting funds. He actually had around 1 million from other investors. HIs parents put in the most, but multiple other people invested about 50,000 each and got ol' Jeff to about a million in starting capital for his business. So his headstart was even bigger than it initially looks!
Edit: 8 months in and people still replying. Let me clarify at least one point here, because it wasn't worded the best. If some nobody who had never set foot on wall street got a bunch of wall street guys to give him 700K that would be impressive. Unfortunately for you, Jeff was a wall street bro, that's where he worked before leaving to start Amazon. He didn't convince anyone, he even told his wall street pals "Yeah there's like a 70% chance it just completely fails". They gave him that money because he was one of their wall street pals, that extra money was a result of privilege, of being from an era where college was hugely cheaper, and if his business failed, he could just go back to wall street no problem.
You are still self made if you can convince investors to invest in your idea. You came up with the idea and business plan. You convinced investors to believe in you. So you made it happen.
@@BarrySlisk the reason people invested in him was because he was already vice president of a hedge fund at the time. He had the advantage, luck and opportunity to know these people.
He was literally already among these crowds thanks to the advantages he had in life. That's another part of the story he doesn't seem to like mentioning much in favor of McDonald's, when he literally worked at a high position in a hedge fund.
Not hard to get the funding when you've already been one of their people for years.
@@chrystallix
Still...Some people become rich even if from a poor background.
One example is a Dane (recently deceased) who created the "Jysk" store chain from scratch starting with one store.
He became I think the richest man in Denmark or at least very close.
Lars Larsen was his name.
This is how he starts his autobiography:
"It's now 25 years since I had the "crazy" idea of starting up a chain of bedding shops - based on the concept of giving customers a good offer. Many people thought this was a bit naive. Especially when you hardly had a penny to your name.
I read somewhere that Amazon has ties to CIA, and Jeff Bezos' ex-wife was a CIA agent.
Especially considering that that today is probably about more than 2 million
I started cycling and ended up at notjustbikes now I’m a socialist wtf.. pedaled my way into anti capitalism 😂
We took the orange pill.🤯
No. Please don’t leave us!! I watch that channel to and has managed to keep my beliefs.
How is Not Just Bikes or more different transportation infrastructure socialism?
Socialism is not anit capitalism anarchy is anticapitalism. Rich people gwt government bail puts.
how were you fooled so easily? these arguments arent even good.
start watching red pill content or some conservative content.... conservatives would destroy any socialist in any debate
This is the one. If we could gain control of the broadcast/streaming/download systems of the world, and make every citizen of Earth watch a single short video - this is the one they should be shown. All that's missing is a short 'data-dump' where you give the actual figures for how much these 'Self Made' people have been given by the public and how much Tax they *don't pay* compared to the average person.
Love the copium in those who still believe anyone can be billionaires.
And the only defence they can muster up is "yOu'rE jUst JeAlouS!" 💀 fucking mindblowing.
Yeah, I rather not have the amount of money equate to some country's GDP in the world..
And will they spend a part of that much money to solve an actual world problem, like sanitary problems in India and Africa?
@@camero4134 who really gives a shit lmao. Humanity isn’t built on compassion my guy, and if you open up Pandora’s box to help as many people as you can, you won’t stay rich.
@@logic_eternal5646 This doesn't mean you can't do what is true. Rather be a poor person that (at least tried to) solve actual problems in life than a rich person that won't be respected when the paper is gone.
Years ago I heard this on TV (paraphrasing):
"The idea that everyone can become a millionaire is a lie. If everyone is a millionaire, who would do the menial jobs that are required for the millionaires' businesses to keep running?"
@Ian Warren we can make it illegal
@Ian Warren do you here yourself? This is how everyone lost in the socialist countries which thought the same. I lived in one so speaking from lived experience. Like you wouldn't lock away those billions if they were yours. You are only mad because it's not you with the billions.
@Ian WarrenBillionaires don’t have billions locked away nor even millions they have it in assets such as stocks or housing or various other assets cash will always lose value not to mention the the government only insure bank accounts up to a certain amount
robots.
Migrants.
Thank you for this video. Keep making them!
THIS IS THE VIEWPOINT THAT I HOLD AND ITS COMFORTING TO KNOW OTHER PEOPLE THINK LIKE THAT TOO
Those "rags to riches" stories are always so nauseating and insulting to people's intellect.
Not people ,kids were brain washed to think the rich good.
Though it's typically a main hook in the music most people enjoy, especially with pop and rap.
No person is self made, you always NEED to get help from someone no matter what
I mean yeah somebody physically needs to make you, but thats about it.
Individualism is against human nature
@Steven Hamner yeah humans were designed to work in groups of about 30.
@@blank6604 oh so you're saying that a baby left alone on The wilderness is not a person? How bigoted.
@@blank6604 wtf babies arent self aware???
Btw My original comments were both jokes
The minimum wage was introduced in 1938 at 0.25/hr.
GDP that year was 87 billion. GDP has doubled 8 times to get to around 23 trillion today.
If you double 25 cents 8 times you get 64.00
Just sayin'.....
You can only become uber rich by getting rid of your ethics.
There's another factor you didn't mention luck, having an entrepreneurial idea is only helpful if you have it at the right time, they talk about Bezos, Musk and Gates as working hard, but what about the hard working entrepreneurs that completely fail because they didn't luck into a game changing idea at the right time, didn't find investors, etc.
Just IMO Luck is a factor but its a weak one. It's most likely the right connection usually through family that allowed them to realize thier vision. Try not to use luck if your trying to explain this to anyone cause it can become a flaw on the argument, since luck = opportunity + preparation and that's something a "self-made" billionaire will claim.
Some of it is luck, but most of it is simply another part of the privilege that comes with having family wealth or connections that allow you to fund ideas that someone probably had before you did but couldn't act on it because they didn't have the money. People with wealth have the luxury of taking risks on businesses that might fail, after all. Working class people would rather secure a future for their families rather than risk financial ruin on a business idea even if it's a good one.
@@pocarisweet8336 I guess what you're trying to say is that to certain people luck is a weak argument. That in itself is the issue. Being born in the right family, building connections with the right people...all of that is pure luck. Sure some people have been able to build connections through their charm or by just knowing what the other person wants and making it happen for them but again I don't see where luck isn't a big part of that too.
@@pocarisweet8336 No, luck is a strong factor.
The difference is this is like a lottery most people never get to play.
@@AkibanaZero I agree, privilege is entirely down to luck, as nothing but chance that decides one's birth into wealth and comfort. Unfortunately, people tend to stick hard to their views. Even if others share the same ideologies, they can still heavily disagree on opinions, specifics and details, regardless of the possible consequences.
Being a self-made billionaire is cool and all, but have you considered being a socially-produced revolutionary socialist?
Self-made billionaire 🤢👎
Socially-produced revolutionary socialist 😎👍
Hello comrade Paul, looking forward for your vid today!!!
@@natg4613 Thanks comrade - hopefully you'll enjoy it
Just don’t go to communism
@@ispgravy4233 why not? Communism is based.
Great video and this hit needed to be said, and you did so fantastically!
"Lift yourself up by your bootstraps" a joke that was taken seriously.
It's surprising how few people realize that it was a sarcastic way of saying it is impossible to get ahead by simply working harder.
@@jymbo1969 hilarious but unsettling.
Don't forget "human decency"...
How tf did people never realise that 'pulling oneself by the bootstrap' is physically impossible?
Not really said by any billionaire I've heard of, but somehow attributed to "them" here.
"Self-Made Billionare" is just code for "i havent been found out on the specifics of how i got rich"
and they dont even know all of conclusive dynamics themselves every organ of evolution being backround degenerated
I mostly agree with everything in this video. People think that the feudal system disappeared decades ago but it really is alive and well in the modern world where less than 10% of the people in the world own over 70% of the wealth. I don't even go to billionaires, or millionaires, every wealthy person that I know personally didn't get there without being unethical and exploiting others in some way shape or form. I had 3 uncles that became fairly wealthy and all 3 of them got there by being unethical and exploiting others, and that is the case for a lot of wealthy people.
Bad take
I can't stop watching you videos, so informative. Great work.
These videos are nonsense
The $78 per hour paycheck was all the money brought in. Not just profits. But even accounting for expenses and overhead it would be much higher than an ordinary paycheck
That was my first thought as well. As a former restaurant manager, I can say generally that approximately 10-15% of a restaurant's income goes towards rent/utilities, equipment, maintenance, etc.; 25-30% COGS (cost of goods sold) for the food product.
At the end of the day, the employees would still have taken home around $45 an hour, far more than the $7-9 (or $2.15 plus tips!) they would likely normally earn in wages.
In this case it was 4th of July, and "the community came out in droves to order pizza." Definitely not indicative of a normal day at a pizzeria. On slow days the pizzeria may even lose money. Many mom and pop pizza restaurants fail due to lack of profits.
@@Richard.Sanchez it wasn’t on the 4th of July but it was the day after and the owner did announce it on social media.
@@galacticbob1 $45/hr? Vs the $7.25 they were probably making? That's criminal.
@@davidpeppers551 $35 compared to 7.25....
That's still a HUGE pay increase.
Would you be upset if that was the regular pay rate?
It´s almost funny how everyone laughed about Trump´s "small loan of one million dollars". Not realizing that it´s just the way it is with every "self made rich man".
At least most of them.
@Lindwurn, That times 1 million...how much today?
Question is do there belife that nonsense themselfe?
It's just that others in the same or better circumstances did not do as well comparative to that as he did. That was all he was trying to say and some misconstrue it as if he thinks it was small relative to everyone when what he meant was, relative to others in a similar class and sphere of opportunity. Trump is not a stupid person and he knows he did have a good start in life but people try to say about him that's the *only* reason he was successful and it's not
@@weetzybat The guy was outperformed by the S&P 500, he isn't necessarily stupid, but his performance isn't that remarkable given how much more than a "small loan if a million dollars" he received. Very few people start out with the tens of millions of late 20th century dollars worth of support he was actually given by his father.
"He who restraints his desires is always rich." (Voltaire)
I do think it's worth pointing out that in the pizza shop example, the employees divided the total revenue for the store for the day, so their profits included overhead such as real estate, taxes, maintenance, and supplies. It's still a good point, but the money here was not surplus value, but rather total revenue.
overhead taxes maintenance supplies thats not how real business works
Being enterprenuer who runs automotive workshop I felt offended with this example.
Fist two years working without salary. Always investments needed because of instrument`s wear or inaccurate usage by mechanics. Paying for guarantee repairs. Paying rent. Having sleepless nights because of risks taken by getting loans and need to get money for taxes. And most expensive - thinking about job all time.
Sometimes I envy pepole who have nine-to-five job and completely forget about it when working hours are ended while heaving same (and sometimes even better) wealth than me :)
If hardwork really created success then the kids in poor countries who made my clothes would be billionaires.
Ah yeahs someone Thinks of the Slaves
Hardwork in the right direction, you would not be a billionaire but live a decent life
@@b201aman6 the poor kids who made my clothes are not living a decent life.
Prisoners here do that too lol.
Deep!!!
Thank you for making this video because I’m tired of billionaires being praised and called “ self made “. Hustle culture is very toxic and a lot of billionaires benefit off of exploiting their workers.
They are self made since most weren't born into wealth.
@@aabc yes
@Lex Bright Raven jack ma?
did he have any of the 3 in the video?
not to mention how the video is literally just a sad attempt at debunking the narrative without real facts, just wild generalizations from across the board lol
Cristiano Ronaldo is self-made and he hasn't committed any of the "offences" in this video
Michael Jordan and Messi are 2 and 3
@@william_SMMA And like what about the running costs of the company that allows the employees to have a job and feed their families? This is a shallow assessment I reckon. People can be greedy true, but they still create jobs and help the economy.
It helps if mommy and daddy were already rich with a network of people who can pull strings for you.
They also say that 80 % of millionaires are self made, but if look closer u find that 90 % came from the real estate sector and the average age is around 60 years old , so basically boomers who bought a couple of properties at the time were the market was reasonable
I'm in highschool and I'm basically required to take an economics class. Some of it seems pretty legit, on paper at least, but the first week I was there, my teacher told me one of the tenements of capitalism is "Selfishness", always assume people are going to work in their own self interest. They don't even try and hide it anymore.
That's also key, bootlickers of those in power, through education and media try to pass as "natural laws" things that, most of the time, are BS and built only for the elites benefit. And sadly, most often than not, they get their way.
And its true. Selfishness is a key human motivator, not just in capitalism. Very naive to think otherwise. The great thing about capitalism: it uses the selfishness to (partly) benefit everyone in a somewhat fair manner. Its not perfect, but in this regard EVERY other system failed horribly.
@@salocin9695 yup, every other system fails to take this into account effectively
@@SweatySockGaming Not at all..
@@Teilnehmer pls explain
Even in cases where the person didn’t born rich, they had huge luck by meeting the right person at the right time and took the opportunity when it came. It’s not about hard work, but opportunity/luck together
Luck is when preparation meets opportunity
Of course there was no work to do at all. They just had to do their regular with and the 'right person they meet at the right time' will do all the work for them and later they will be rich people when the 'right person' that did all their work will be just a common man. 😑
hard work, luck and talent for billionaires, but seriously for millionaires that luck decreases a lot
Being at the right place at the right time
dude, you must work hard to be able to use the opportunity when it arises
It is absolutely mind-blowing that some billionaires' families own an infinitesimally small amount compared to the actual billionaire, but they contribute a significant amount of their wealth. The answer, as you have discussed in the video, comes down to labor exploitation skills. They may learn this from their family, or even just their millionaire friends who act as a family for those not born into wealthy families.
As a result of the self-made billionaire story, people will never understand the hard truth, that you can work really hard for your entire life and get nowhere. The people I know who work the hardest earn the least.
Because you didn't work smart
@@chewhatif4745 ON POINT! I learned through life that you must work hard and smart! Without those 2 you will not be successful. It has not been entirely easy for me, but I’m far in a better shape than the average American. Good part of it because I’ve made smart moves in my life.
@@chewhatif4745 Smart as in ignoring all the people in third world countries that support your lifestyle on their backs? There's nothing intelligent about our economy and being a sociopath won't make you smart. You're not better than those who make less money than you, many of who CHOOSE that lifestyle because they're decidedly not evil. If everyone "worked smart" and made more money, the value of that work would fade away overnight and you'd have to shift your stupid goal post.
@@tomasgomez9925 You do realize this is a video about Billionaires, right? Not an inspirational video about how to build wealth and security for your family? You do understand the difference, right?
@@AuthorityCat I do. I recommend you look at Amancio Ortega. That’s a true self made billionaire. Unlike Musk, Trump, Gates, etc who clearly had mommy and daddy to cover their expenses, Ortega was completely poor and didn’t even graduate from school. He was poorer than the average person in a developed nation. No higher education whatsoever. I respect those types of people.
I want to make Elon Musk personally build his own self destructing cars and Bezos deliver packages for a month in the same conditions their workers have to, not in the Mike Rowe, 30-60 minutes of doing a dirty job kind of way, but really live in one of their workers shoes for a month.
A year
@@bccsivxx-xxivvii actually that would be better
@@bccsivxx-xxivvii A year...and living in their workers accommodation to🤔
@@pixelpotato4874 and no weekends off. Gotta go to the 2nd and 3rd jobs sacking groceries or delivering pizzas, driving Uber, whatever, on the days off. Oh, and they can only live on what they make from the new regular jobs.
@The Lonely Proto Yeah. That's why they need to do that.
Billionaires wouldn't be Billionaires without the system set in place for them to prosper.
My thought when you hear the garage stories is “so you got to own a house with a garage?”
Meritocracy, the most useful conservative myth.
Only place where meritocracy even comes close to ironically is sports like the nba which conservatives hate
@@Commandosoap777 and even in professional sports these days kids are basically scouted and put on professionally guided diets and exercise routines. The gap between these kids and the ones who don't make these connections grows wider the more sports medicine advances.
@@Commandosoap777 I wouldn't call that meritocracy. In theory, meritocracy rewards you equal to your competence/level of achievement, but there's a hard cut off line when it comes to professional sports. Only the best ever become successful, so if you commit yourself to it and prove you're an exceptional player but you're just 1% short of making the grade, you get absolutely nothing. The majority of people who pursue professional sports end up instead being stuck in some low wage job because all of the years they put towards their goal were wasted if they didn't get scouted. There's not really anything comparable to that level of dedication and work rewarding you with nothing, really - if you go to medical school even if you aren't top of your class you'll still be able to use your education to pursue a career. It's really messed up the way college athletes are exploited and then discarded.
@@Commandosoap777 conservatives don't believe in meritocracy, they believe in hierarchy. Liberals believe in meritocracy.
@@tlo65 it would be too general and easy to project a certain viewpoint on a group like that. The further left you go the more it becomes forced egalitarian, the further right the more rigid hierarchy. Both absolutes unreasonable.
Their parents weren't exactly poor, they went to the best schools and universities and they never experienced hardship in their lives - and many of the tech billionaires networked with each other, realising that cooperation and not competition was the key to mutual success. Apple and Microsoft for instance. They were never self-made.
It depends on what you mean by "self-made". Maybe you will accuse their mothers of giving birth? "He isn't self-made! He has a mother!" XD
You're correct
@@PaulMielcarz you make non sense
@@PaulMielcarz I know exactly what "Self-Made" means. It means whatever's gonna save my ass in this exact second of the conversation.
When these people brag about being "Self-Made", they Never correct the record and mention "Well okay, I wasn't Technically a self-made billionaire, I just profited off the efforts of a massive workforce I could afford to hire to do it for me" when they need to look Good. They just say "I'm Self-Made" and let people come to their own conclusions.
This technicality bullshit only comes up when they're caught red-handed lying about how much of their "Self-Made" success actually had anything to do with them specifically.
They Want you to think it means they came up under their own skill and talent, and only begrudgingly allow the truth to be stated when the evidence of their lying is undeniable.
Suddenly "I'm Self-Made, bitches!" turns into "Well, it depends on what your definition of 'self-made' is."
And if you have to dilute the definition of "Self-Made" down to splitting hairs over whether "literally being born" counts as an assist on the "Self-Made" contradiction, then you're not fucking self-made anything. You're a bullshitter who was carried to success and trying to maintain credit to preserve your own ego.
yeah, its true they're not self-made but given the same opportunity, most people don't have the same vision.
I love your videos. It seems like I am older than most people who think this way and get very discouraged when I hear better off relatives (or even WORSE OFF relatives) think and argue in the style that us gen x’ers were raised to believe in with the good life that was given to our boomer parents and attempted to continue thru us and our millennial/z children.
The way I see it, the world simply cannot physically continue on in the way we are headed and I refuse to believe that us just having to put up with a shortened life span and crappy existence to ‘support’ wars and killing, is the only way to exist and that us attempting to live even the most minimal life is practically impossible!
Why would anyone think this is ok?!?! A socialist path is the only thing that can even begin to make sense anymore, but since we’ve all been trained to instantly hate on anyone who dares to even speak the word, I just don’t know what to do except to keep planting the seeds into stubborn heads and hope for the best 🤷♀️😢
I just want to say I love your videos and I believe fully in your message. Thank you for doing what you do, I hope your insight can help more people believe in a humanitarian collective society that benefits everyone.
I remember my granda saying something along the lines of: "You're only a thief up to the first million", which I find very applicable when reffering to how billionaires make money.
Its not
I didn't understand you. Can you explain me?
@@tunes_nirvana well basically once you "earned" a million, you're not a thief anymore, you're a respectable entrepreneur surrounded by success
it's correct
You're thief until you make a million , then you become a burglar .
What's sad is workers praising these billionaires while being exploited by them, all because they were brainwashed into belive that one day, they too, will be like them.
Exactly lol
i dont work for anyone, and i also dont excuse any bad things people do, its just you, the person who made this video, and everyone else are mad that they arent rich and other people are, it doesnt matter if they got money to help start their business, they made the right choices, got in with the right people and got lucky, how is this any different from anyone else, ANYONE CAN BE RICH but that doesnt mean that everyone will! some get lucky right away while others, many rich people have failed again and again in trying to make it . how is it any different from when you go and you get a loan from the bank to start your business or you try to get investers
@@captainstabbin5374 did the miss the part where billionaires get rich off the backs of exploited workers? and how the nation of exploited workers are worshiping the billionaires, hoping to be like them? the whole system is fucked up. It’s possible to run an ethical and sustainable business. Go see second thought’s video on co-ops.
Captain Stabbin I feel bad for you comrade
for real
The Pizza shop did not just give the workers the profits, but all the money the shop earned. - if it would run like this for a few weeks all the people would loose there job - better some pay then no pay
It was one day - OBVIOUSLY in the long term expenses would be subtracted from profits and then split and the owner would still get an equal cut.
"No billionaire has ever gotten there by ethical means". And that's why, "it is easier for a camel to pass through the eye of a needle than for a rich man to enter through the gates of Heaven". Jesus, looking at him, loved him and said, ‘You lack one thing; go, sell what you own, and give the money to the poor, and you will have treasure in heaven; then come, follow me.’ When he heard this, he was shocked and went away grieving, for he had many possessions.
funny, how this is part of the bible is almost never brought up
This is what I think about, when I wish Good would rip the rich apart
buble is dumb ahit made by a hippie
what this highlights is that America being a 'christian' nation is a total farce
Jk Rowling hurt you?
Billionaires in the collective mind: "Superheroes"
Billionaires in reality: "The Boys"
Way too underrated comment 😂
🤣
*Underrated comment*
It's kind of a whiplash for me cause my friends and I and the internet communities I partake in constantly shit on billionaires and the idea that they came up through their own work but I'm also aware that billionaires are seen in an extremely positive light by the general public.
@@shivpuri5769 How's what whiplash ? I don't understand
Who actually has tried to convince me that anyone can be a billionaire by just trying hard enough? Nobody. I can't remember ever being told that. The basic premise of this video is wrong.
@@zjayx3 You are trying to convince me that anyone can become a billionaire if only they try hard enough, and that's a first for me. It turns out that the premise of the video is not entirely wrong. But it is largely wrong and contains a lot of material designed just to make people resentful of those with more money and other wealth.
thats great content, love the honesty!
I love that last line "We make enough for everyone let's stop pretending so much of it should go to so few."
Yes a great line indeed! Just sad that it isn't accurate
This should help to explain: th-cam.com/video/rixbHbaWBuk/w-d-xo.html
@@reecesanderson6696 nobody is talking about communism smartass
We need more socialism
@@reecesanderson6696 you realize they “failed” because capitalist countries directly interfered with their democratic processes to further their own growth
@@reecesanderson6696 crazy how you bring up communism in reponse to someone saying money isnt well distributed enough in capitalism and then say "it's easy to blame someone else for the mistake or fault of oneself"
"Separate an individual from society, and give him an island or a continent to possess, and he cannot acquire personal property. He cannot be rich. So inseparably are the means connected with the end, in all cases, that where the former do not exist the latter cannot be obtained. All accumulation, therefore, of personal property, beyond what a man's own hands produce, is derived to him
by living in society; and he owes on every principle of justice, of gratitude, and of civilization, a part of that accumulation back again to society from whence the whole came" Thomas Paine - Agrarian Justice
Shhhh, don't tell the Americans that Paine was a socialist.
So true! If you give a single, isolated human an entire continent to rule over, that human will most likely acquire a heap of "died of tetanus".
I have said it elsewhere, but here’s the deal:
1. US Billionaire wealth amounts to around $4.6 trillion dollars, which even if you take all of it, won’t run the US government for even a year, with all the new post-covid spending measures.
2. This is assuming that wealth is liquidable, which it’s not. Much of that is in stocks, which are already super pumped at the moment and you might know you can’t possibly just sell them all and expect full value if you know basic economics.
3. And doing so will destroy the few industries in which the US is still leader in, and that will cause way more damage. The Chinese who work twice as hard as y'all for a fifth the pay will eat y'all.
4. Much more in restoring the middle class can be achieved by stopping globalization and illegal immigration. Because honestly, if you remember the times of the 50s and 60s, the US middle class prospered UNDER CAPITALISM just because of no external economic pressures and a condition in which all the labour for goods and services consumed in the USA was IN THE USA. ie. not unlimited labour in the third world situation as it exists now.
Hopefully, you see my point.
@@a.16.g Wow, you're so delusional.
But some people contribute more.
Speaking from experience, one of the techniques used by the bald guy’s companies is ruthlessly pursuing outsourcing of labor. They’ll go to extreme lengths to not have FTEs so that they can say that work was completed without having to increase headcount. This leads to massive losses of institutional knowledge, and the degradation of final products because the primary motivator is always cost cutting.
This should raise eyebrows because one of the companies makes rockets.
Would you strap yourself to a rocket who’s whole lifecycle has been dictated by people who have no experience in the field, who don’t do any of the work, and who’s primary motivation is cutting costs to increase their own cut?
I wouldn’t.
Thanks. As always, well thought out and clearly presented points.
Communist
It’s impossible to become a billionaire with no “help” ( exploiting millions of people )
@@saagisharon8595 exactly ! even if you win the lottery you are still technically exploiting the people who bought the losing lottery tickets .
Under capitalism unfortunately there is no way to gain immense wealth without exploiting others . That’s why capitalism sucks , and is why we need a better, more fair system that insures that no one is exploited #taxtherich #socialism
I have said it elsewhere, but here’s the deal:
1. US Billionaire wealth amounts to around $4.6 trillion dollars, which even if you take all of it, won’t run the US government for even a year, with all the new post-covid spending measures.
2. This is assuming that wealth is liquidable, which it’s not. Much of that is in stocks, which are already super pumped at the moment and you might know you can’t possibly just sell them all and expect full value if you know basic economics.
3. And doing so will destroy the few industries in which the US is still leader in, and that will cause way more damage. The Chinese who work twice as hard as y'all for a fifth the pay will eat y'all.
4. Much more in restoring the middle class can be achieved by stopping globalization and illegal immigration. Because honestly, if you remember the times of the 50s and 60s, the US middle class prospered UNDER CAPITALISM just because of no external economic pressures and a condition in which all the labour for goods and services consumed in the USA was IN THE USA. ie. not unlimited labour in the third world situation as it exists now.
Hopefully, you see my point.
@@a.16.g that’s because in the 50s and 60s the world wasn’t run by corporations getting free tax cuts and hoarding all the money . We are in a late stage capitalist world . In which capitalism exploits the working class to the point where they can barely even afford food and water …. Capitalism plays a huge part in climate change too! .
I’m no politician but I am a human , and I see things through he eyes of the thousands of people that are mistreated under capitalism. And hope to see them be treated fairly and given fair wages . Its basic human empathy
Considering your youtube name is Elon musk I assume your a Elon supporter, right ?
If so , do some research on how Elon got his wealth . Look how his ancestors exploited thousands of people (the people who worked in the emerald mines ) therefore giving him unfair advantages to allow him to create a company with the inherited money that allowed him exploit even more people in the modern day !
He’s not self made he just happened to be born into a rich family
It’s pretty simple . The minimum wage NEEDS to be increased so the working class doesn’t end up homeless and hungry . Millions of people work extremely hard jobs every day , yet they are still struggling to pay rent . Don’t you think that’s a bit unfair?
what is it about society that disappoints you so much?" Elliot thinks, "Oh I don't know, is it that we collectively thought Steve Jobs was a great man even when we knew he made billions off the backs of children? .
We need Elliot more than ever 😂😂
Is that quote from Mr. Robot?
I wish this show was talked about more.
@@lucasgrey9794 yes
He did?
I think Alan Sugar has put it best. He started out selling stuff from the back of his car and then his uncle died and left him a large inheritance.
I think he said it on the apprentice? Idk its on iplayer but I haven't watched it for years now so I might be misremembering