If instead they would be spending most of their time among African warlords, or Russian oligarchs, or whatever is their more civilized equivalent in USA, maybe they would have very different models of how wealth works.
If you look at the Forbes list there aren’t many African warlords on it.
There are probably more people who got rich selling homeopathics, than who got rich founding startups.
Which people do you think became billionaire’s mainly by selling homeopathics? Homeopathics is a competive market where there no protection from competitors that allows to charge high sums of money in the way startups like Google produce a Thielean monopoly.
If you look at the Forbes list there aren’t many African warlords on it.
It seems possible that African warlords’ wealth is greatly underestimated by comparing notional wealth in dollars. E.g., if you want to own a lot of land and houses, that’s much cheaper (in dollars) in most of Africa than in most of the US. If you want a lot of people doing your bidding, that’s much cheaper (in dollars) in most of Africa than in most of the US.
Money has more or less logarithmic utility. So selling homeopathics could still bring higher average utility (although less average money) than startups. For every successful Google there are thousands of homeopaths.
That depends on your goals. If you want to create social or political impact with money it’s not true.
Large fortunes get largely made in tech, resources and finance.
If you look at the Forbes list there aren’t many African warlords on it.
Which people do you think became billionaire’s mainly by selling homeopathics? Homeopathics is a competive market where there no protection from competitors that allows to charge high sums of money in the way startups like Google produce a Thielean monopoly.
It seems possible that African warlords’ wealth is greatly underestimated by comparing notional wealth in dollars. E.g., if you want to own a lot of land and houses, that’s much cheaper (in dollars) in most of Africa than in most of the US. If you want a lot of people doing your bidding, that’s much cheaper (in dollars) in most of Africa than in most of the US.
On the other hand the African warlord has to invest resources into avoiding getting murdered.
Yup. It’s certainly not clear-cut, and there are after all reasons why the more expensive parts of the world are more expensive.
Money has more or less logarithmic utility. So selling homeopathics could still bring higher average utility (although less average money) than startups. For every successful Google there are thousands of homeopaths.
That depends on your goals. If you want to create social or political impact with money it’s not true. Large fortunes get largely made in tech, resources and finance.