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(Abc.net.au)   Billionaire: "If you're jealous of those with more money, don't just sit there and complain; do something to make more money yourself - spend less time drinking, or smoking and socialising, and more time working"   (abc.net.au) divider line 440
    More: Obvious, smoking  
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9336 clicks; posted to Main » on 30 Aug 2012 at 11:04 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-30 11:21:12 AM
If the French Revolution comes back into fashion, I'll be at the front of the thronging mob that heads into her ivory tower to drag her bloated, selfish fat ass down to the street to be pelted with trash and small blunt objects before being beheaded on live CNN.
 
2012-08-30 11:21:33 AM
The richest people I know (including a couple of CEOs with compensation in the $10 mil+ range) love to drink and socialize. In fact, one told me that this is the way to truly get to know the character of the people you are dealing with. Just sayin.
 
2012-08-30 11:21:53 AM

vpb: That's comical. No one gets rich from hard work. You can inherit it, you can steal it, you can exploit flaws in the financial system, you can get lucky in the stock market (assuming you have a lot of money to invest in the first place), win the lottery etc. Working won't do it for you, working makes other people rich.

Besides, it is interesting to me that the wealthy people who think this way are almost always people who inherited their money. People like Warren Buffett seem to have more of a grasp of reality, since they actually had to do something to make their money.


Are you willfully ignorant, or just inherently stupid?
 
2012-08-30 11:21:54 AM
So the 99% are all lazy idiots?
 
2012-08-30 11:22:22 AM
What if I'm not jealous of those with more money, and just want the arsholes that are super rich to stop farking everyone over?
 
2012-08-30 11:22:32 AM

vudukungfu: The nicest millionaires I know don't talk much at all. You wouldn't know they are loaded, either. They don't roll TROLL the poor.


Just had to fix that.
 
2012-08-30 11:22:53 AM
Why are the people starving? Why don't they just eat cake?
 
2012-08-30 11:23:29 AM

Mugato: dittybopper: The rich who lose all their money don't generally fall into long-term poverty due to misfortune or the occasional misstep, though they can fall into short term poverty. They end up clawing their way back out of it

There's no reason to believe your average billionaire who was born into it has any more financial sense than anyone else.


You usually inherit daddy's financial advisers along with his money. Also that inheritance is already working to earn more money. They don't cash out the investments and hand you a check. Instead you inherit stock, real estate, companies, bonds, etc.
 
2012-08-30 11:23:32 AM
Mrs Rinehart, who has seen her fortunes rise after parlaying a multi-million dollar inheritance into a mining empire now worth more than $20 billion, blames anti-business and socialist policies for hurting the poor.

Some days I wish I could get my hands on gods throat.
 
2012-08-30 11:23:57 AM
I'm 9 hours into a 20 hour shift (ya rly) and I get to come back tomorrow for 16. I'm not poor but I'm not exactly rolling in dough either. Fark this lady.
 
2012-08-30 11:24:05 AM
I don't have anything personal against the Occupy protesters, or any peaceful demonstrator for that matter. These guys at least had the initiative to get of their asses, go into the streets and protest about something. Most Americans would just laze in front of their televisions, ranting impotently at the world.
 
2012-08-30 11:24:22 AM
Step 1: Inherit millions of dollars
Step 2: Use that money to make more money
Step 3: Profit!

My God! She's figured out Step 2!
 
2012-08-30 11:25:07 AM

vpb: dittybopper: TsarTom: ...after parlaying a multi-million dollar inheritance...

The problem isn't that the poor want to be poor. They don't, obviously. It's that they don't generally have the financ ...

It's nothing to do with the long term poor, she is talking about the middle class. The people who do the actual work that makes people like her rich.

She might actually do some work, but that's not where here money comes from, she simply inherited a company which gives her the right to take whatever the employees of the company produce and give them as little as she can get away with.

I have never understood why someone would be able to inherit an organization anyway, like it was a piece of furniture or something. It's almost like the feudal system where nobles inherit a manor and get to take a big share of what the serfs produce, simply because of birth.


Youre looking at it from the wrong angle. Why shouldn't the person who built the organization be able to do whatever he/she wants with it?

If I am smart/lucky/hard working enough to build a business worth $100m/$2m/150k or whatever, why shouldn't I be able to give it to my lazy stupid son? Sure, he didn't do anything to deserve it but I did and want it to go to him.
 
2012-08-30 11:25:09 AM
1) You will never get rich working for someone else
2) You can't get rich by spending every dime you make on toys
3) You have to make your money work for you
4) Be frugal, but always buy the best you can afford
5) Set goals and stay the course to achieve those goals
6) Invest in the long term, (never met a rich day trader)
 
vpb [TotalFark]
2012-08-30 11:25:13 AM

Snarcoleptic_Hoosier: Then I guess I'll start robbing rich people. If I work hard at it, I can be rich too.


That is one of the better ways. Lehman Brothers specialized in that, and a lot of people made big money that way.
 
2012-08-30 11:25:22 AM
Working hard enough isn't the answer, considering a lot of people can't find work at all.
 
2012-08-30 11:25:55 AM
It's telling that the anti-tax, anti-regulation types all assume the core motivation behind regulations, taxes and commonwealth services is jealousy of others' wealth.
Not, ya know, *history* and the fact that having these things has been better for everyone than not having them.
 
2012-08-30 11:26:25 AM

cig-mkr: 1) You will never get rich working for someone else
2) You can't get rich by spending every dime you make on toys
3) You have to make your money work for you
4) Be frugal, but always buy the best you can afford
5) Set goals and stay the course to achieve those goals
6) Invest in the long term, (never met a rich day trader)


When does your book come out?
 
2012-08-30 11:27:03 AM

bifford: So the 99% are all lazy idiots?


Well, those who identify themselves as part of "the 99%" are idiots.
 
2012-08-30 11:28:28 AM

dittybopper: The problem isn't that the poor want to be poor. They don't, obviously. It's that they don't generally have the financial skills to help them claw their way out of poverty.


Not just financial skills - also the motivation. I have offered several people $1000.00 to get started after they go down, get a student loan, and get an associates degree. I have yet to have anyone take me up on my offer. They simply don't want to leave their comfort zone and blame others for the shortcomings in their life while yes, buying a pack of smokes and a lottery ticket.

It is OK to have poor people, wealthy, and everything in between and why this country feels otherwise is ridiculous. We need people to work at McDonalds, do our dry cleaning etc. We are all wired to do something in life and we should not reward those who are wired to mooch and take from others - especially those who do get offered jobs and turn them down because they would not make as much as they do from Welfare and hand outs.
 
2012-08-30 11:29:12 AM

jayhawk88: dittybopper: The problem isn't that the poor want to be poor. They don't, obviously. It's that they don't generally have the financial skills to help them claw their way out of poverty.

All of this is true, but it doesn't excuse the ultra-rich from buying political influence, for the express purpose of making sure they receive more money-making opportunities and pay less taxes, all at the expense of the poor and middle class. Which is really why everyone is pissed off at rich people; not because we're "jealous".


I don't know of many people that are pissed off at someone with a couple million dollars. You got a little company and treat your employees well and make money, good for you. It's the people that milk the system, run companies into the ground while making big fat golden parachutes for themselves, the Enrons that lose all the workers entire retirement while making the management rich and nobody ever does time (helps to be buddies with the prez). The ones that profit here and contribute little. Except to campaigns that protect their interests, of course.
 
2012-08-30 11:29:31 AM
You'll never get rich by making excuses...
 
2012-08-30 11:29:37 AM
Bill Gates grew up in one of two communities, as I did in the other, that made computers available to students at the time. His father was a patent attorney who was able to keep Microsoft private up to the 286 gen on his own dime. His mother was on the board of the Red Cross along with the president of IBM, so he got the contract for the PC OS. Sweat of his brow.
 
2012-08-30 11:30:27 AM
Yeah, people, you all should have spent more time being born into wealthy families.
 
2012-08-30 11:30:53 AM
Not only did she inherit millions - she inherited a million dollar company in the MINING sector.

Along comes China - "I want to buy all of your ore. Name your price"

She rode the Asian expansion to her billions. Like most people - her fortune had more to do with luck and the fact that the market played directly to her strengths.
 
vpb [TotalFark]
2012-08-30 11:31:36 AM

douchebag/hater: 'Obvious' tag, subby?

'Hero' tag is more appropriate.


Well, you have to give... Not respect but credit to someone who can inherit money then turn around and criticize people for not working harder to make her richer.
 
2012-08-30 11:31:59 AM

vpb: That's comical. No one gets rich from hard work. You can inherit it, you can steal it, you can exploit flaws in the financial system, you can get lucky in the stock market (assuming you have a lot of money to invest in the first place), win the lottery etc. Working won't do it for you, working makes other people rich.

Besides, it is interesting to me that the wealthy people who think this way are almost always people who inherited their money. People like Warren Buffett seem to have more of a grasp of reality, since they actually had to do something to make their money.


Yes they do. I know several.
 
2012-08-30 11:32:45 AM
Family. Religion. Friendship. These are the three demons you must slay if you wish to succeed in business.
 
2012-08-30 11:32:56 AM
I'm shocked that some version of "super hottie" didn't wind up in this headline.
 
2012-08-30 11:33:07 AM

cig-mkr: 1) You will never get rich working for someone else
2) You can't get rich by spending every dime you make on toys
3) You have to make your money work for you
4) Be frugal, but always buy the best you can afford
5) Set goals and stay the course to achieve those goals
6) Invest in the long term, (never met a rich day trader)



I'm not sure about 1). I've met a lot of six figure folks who work for the man.

For grist, I'm a big fan of the Dave Ramsey plan. I know it gets a little Jesus-y from time to time, but I worked the plan for a few years in a secular way and it did wonders. No credit card debt, no car debt, and I have a cash fund ready to blow on a car when my trusty '02 Prius dies. Get yo' backside out of debt pronto.
 
2012-08-30 11:33:20 AM
Man, that is one ugly chick. You think she'd be all about getting the guys drunker...

/not enough liquor in the world.
 
2012-08-30 11:33:24 AM

fireclown: Probably something to that, even though the messenger might be less than ideal.

What the hell. OK FARK, lets brainstorm. I'm willing to blow $500 on a startup. It has to be something that I can do while still working full time. Gimme your ideas.


Automatic...butt!
Fluorescent...booger!
 
2012-08-30 11:33:57 AM

cig-mkr: 1) You will never get rich working for someone else
2) You can't get rich by spending every dime you make on toys
3) You have to make your money work for you
4) Be frugal, but always buy the best you can afford
5) Set goals and stay the course to achieve those goals
6) Invest in the long term, (never met a rich day trader)


7) good relations with the local mafia chapter are useful in getting rid of that pesky competition.
 
2012-08-30 11:34:01 AM
I like how she talks about getting wealthier and decreasing minimum wage in the same article. That's good stuff there.
 
2012-08-30 11:34:29 AM
I agree with this guy 100%.. I grew up in detroit, had nothing.. i work 70 hours a week.. i don't believe in drinking and partying and i now have a good bank account and a nice house and a pretty good life.. just takes hard work.
 
2012-08-30 11:34:53 AM

fireclown: Probably something to that, even though the messenger might be less than ideal.

What the hell. OK FARK, lets brainstorm. I'm willing to blow $500 on a startup. It has to be something that I can do while still working full time. Gimme your ideas.


Million dollar idea right here:

Invent (and sell to Frito Lay Et. Al.) a chip flavor that when you microwave them, the flavor actually tastes like real hot nachos with cheese (or some other desirable flavor). Basically, a microwave activated/enhanced chip flavoring...

I have others... like the "Purse Pal"...
 
2012-08-30 11:34:53 AM

Visionmn2: dittybopper: The problem isn't that the poor want to be poor. They don't, obviously. It's that they don't generally have the financial skills to help them claw their way out of poverty.

Not just financial skills - also the motivation. I have offered several people $1000.00 to get started after they go down, get a student loan, and get an associates degree. I have yet to have anyone take me up on my offer. They simply don't want to leave their comfort zone and blame others for the shortcomings in their life while yes, buying a pack of smokes and a lottery ticket.


It's also possible that those people feel guilty or insecure accepting your charity. They might be afraid of being under obligation to you, and they know $1000 is not enough to guarantee a turnaround in their lives. Disingenuous people may just take your money then make up whatever excuse they want when they eventually disappoint you.
 
2012-08-30 11:35:22 AM
http://richkidsofinstagram.tumblr.com/
 
2012-08-30 11:35:27 AM

fireclown: Probably something to that, even though the messenger might be less than ideal.

What the hell. OK FARK, lets brainstorm. I'm willing to blow $500 on a startup. It has to be something that I can do while still working full time. Gimme your ideas.


Instead of blowing $500 why don't you just quit smoking, drinking and socializing?
 
2012-08-30 11:35:35 AM

orclover: Mrs Rinehart, who has seen her fortunes rise after parlaying a multi-million dollar inheritance into a mining empire now worth more than $20 billion, blames anti-business and socialist policies for hurting the poor.

Some days I wish I could get my hands on gods throat.


There are some churches that actually tell people they're poor because they're not Christian enough. Ya rly.
 
2012-08-30 11:35:41 AM

ringersol: It's telling that the anti-tax, anti-regulation types all assume the core motivation behind regulations, taxes and commonwealth services is jealousy of others' wealth.
Not, ya know, *history* and the fact that having these things has been better for everyone than not having them.


How much tax? How much regulation? No reasonable person would want to do away with all taxes or all regulation, just like no reasonable person would advocate a 95% income tax rate. There is an optimal line and reasonable people can differ about where that line ought to be.
 
2012-08-30 11:36:26 AM

RenHoekNL: Why are the people starving? Why don't they just eat cake?


Along the same lines, "When I give food to the poor, they call me a saint. When I ask why they are poor, they call me a communist." - Hélder Câmara
 
2012-08-30 11:37:13 AM

Carousel Beast: vpb: That's comical. No one gets rich from hard work. You can inherit it, you can steal it, you can exploit flaws in the financial system, you can get lucky in the stock market (assuming you have a lot of money to invest in the first place), win the lottery etc. Working won't do it for you, working makes other people rich.

Besides, it is interesting to me that the wealthy people who think this way are almost always people who inherited their money. People like Warren Buffett seem to have more of a grasp of reality, since they actually had to do something to make their money.

Are you willfully ignorant, or just inherently stupid?


He's not far off. Sure, one can start a business and work 120 hours a week at it, but at the end of the day, if the market doesn't want their product, they're not getting rich.

Bill gates sold the rights to MS-DOS to IBM before he owned MS-DOS. The the owner of MS-DOS at the time learned that, he might have ignored Gate's offer to buy it and then he could have sold it to IBM. That simple exchange of information, through no fault of Gates, would have cost him billions. That's not hard work - that's luck.

If Jobs didn't have the engineering genius of Wozniak (they met in high-school), he would have never had an Apple computer to sell. If Wozniak didn't have the marketing sense of Jobs, his computer would have never sold like it did. Again - luck.

You could argue they would have all been millionaires anyway, but that's just speculation. No way would they be billionaires. At best, you can with a healthy amount of certainty they could be in jobs making low 6 figures a year. That is doable through "hard-work," assuming you know how to get there (i.e. lucky enough to have parents to guide you in your teenage years), and have the talent for those jobs (again luck. Not everyone can be a Doctor, Lawyer, Engineer).
 
2012-08-30 11:38:10 AM

stevetherobot: fireclown: Probably something to that, even though the messenger might be less than ideal.

What the hell. OK FARK, lets brainstorm. I'm willing to blow $500 on a startup. It has to be something that I can do while still working full time. Gimme your ideas.

Instead of blowing $500 why don't you just quit start smoking, drinking and socializing?


FTFY
 
2012-08-30 11:38:18 AM

dittybopper: Those are just a couple examples of some of the bad financial decisions that tend to keep the long-term poor in economic distress. They don't really necessarily know any better, though: People tend to stay in their socio-economic class


This is why you should never take financial advice from a rich person if they were always rich; when you have money keeping it is easy. And when you don't, opportunity tends to skip your door and seek out a nicer neighborhood.

Less intuitively, you probably shouldn't take advice from a suddenly rich person who started poor either. Sure, we all dream of having that billion dollar idea and raking in the dough, but events like that usually involve way too much luck. If the circumstances were easy to duplicate, everyone would do it. Mark Zuckerberg made a fortune of a simple idea that it seems like any of us could have, but it's phenomenally lucky that he did so at the exact moment in history when his idea was workable and desired, that no one had done it quite as well previously, and that he got the right people to work on it. And that it caught on; sometimes brilliance just goes unnoticed and mediocrity becomes huge.

The people with good advice are the ones who ended up better off than they started, but gradually and more importantly consistently. Someone who became rich overnight probably has no idea how they really pulled it off. Someone who slowly built themselves up and somehow managed to be richer every week without fail is worth listening too, even if it took them 20 years to finally be "rich". Heck the longer it takes the better the advice probably is, because even a minor success is worthwhile if it can be repeated that reliably.
 
2012-08-30 11:38:54 AM

vpb: That's comical. No one gets rich from hard work. You can inherit it, you can steal it, you can exploit flaws in the financial system, you can get lucky in the stock market (assuming you have a lot of money to invest in the first place), win the lottery etc. Working won't do it for you, working makes other people rich.

Besides, it is interesting to me that the wealthy people who think this way are almost always people who inherited their money. People like Warren Buffett seem to have more of a grasp of reality, since they actually had to do something to make their money.


Bullsh*t, it takes work. Some people have better starting advantages than others, but it always takes work. There are almost as many geniuses on welfare than millionaires. The only thing that is assured is that if you play on Fark, or Skyrim, or get high all day is that you will NEVER become wealthy.

I work a 7-5 during all day, business network 2-3 nights a week, and probably spend 2-4 hrs a night trying to find ways to save money or boost my income. I have been doing this for several years (sometimes spending 6+ hrs at night for weeks at a time). I am just now in my 30's, I will become wealthy, and if I don't I will keep trying. I want the freedom of not being tied to a 9-5 or relying on other people for my safety and the safety of my family, and I will fight and work and do whatever it takes to get it. People think I am smart, and I can assure you I am not, I have just WORKed my ass off compared to other people, and other people look at me and think there must be some kind of short cut to get where I am at. Most people can't even comprehend doing what I do, much less do it. And this is because limitations set in their own minds, mostly by making excuses like you did.

Another problem that I commonly see, is that many people have WAY too high of expectations for what the return for their work should be. You work 10 hours and expect $100, you put your money into the stock market and expect 10% returns, etc. The best way to reset this mentality is volunteer. I was unemployed for a year and spent a ton of time volunteering. You learn about all the intangible returns from working, enjoyment from productivity, helping other people, socializing, building skills. Again, sitting on your ass is the only way to get guaranteed results of ZERO.

The only exceptions I have to this are people who are seriously disabled (mentally or physicaily) and people who, at the moment, are literally starving (this excludes you, 300 lb lady eating mcd's on welfare).

Step 1: Contribute to society (without expecting returns)
Step 2: When you literally have no time to add anything else to your day, select your tasks based on return on investment
Step 3: Profit
Step 4: As profits approach "wealthy" levels, prioritize work-life balance gradually
 
2012-08-30 11:39:17 AM

Visionmn2: I have offered several people $1000.00 to get started after they go down, get a student loan, and get an associates degree. I have yet to have anyone take me up on my offer.


To be honest I don't think I'd accept your money either. It's one thing to be in debt to the bank, another to be in debt to a person you're not related to, and I don't want a phone call in the middle of the night sometime down the road from a guy who once leant me some cash who now needs help moving a body.
 
2012-08-30 11:39:31 AM
All but one billionaire I know started with nothing. All but one of them made their money in television.

I advise working in television.
 
2012-08-30 11:39:55 AM

Visionmn2: dittybopper: The problem isn't that the poor want to be poor. They don't, obviously. It's that they don't generally have the financial skills to help them claw their way out of poverty.

Not just financial skills - also the motivation. I have offered several people $1000.00 to get started after they go down, get a student loan, and get an associates degree. I have yet to have anyone take me up on my offer. They simply don't want to leave their comfort zone and blame others for the shortcomings in their life while yes, buying a pack of smokes and a lottery ticket.

It is OK to have poor people, wealthy, and everything in between and why this country feels otherwise is ridiculous. We need people to work at McDonalds, do our dry cleaning etc. We are all wired to do something in life and we should not reward those who are wired to mooch and take from others - especially those who do get offered jobs and turn them down because they would not make as much as they do from Welfare and hand outs.


Your championing of the multi-class system is a bit strange to me, when just earlier in your post you criticize people for not wanting to leave their 'comfort zone.'

Also, I didn't know there were so many people claiming we need a one-class society in the U.S. What I have heard is people asking for the continuation of the health of our social programs which help make sure the poor do not suffer, which sounds reasonable to me.
 
2012-08-30 11:41:02 AM
You don't get to be a billionaire without getting most of your income from investments which require very little work or none at all if you pawn it all off onto an advisor.
 
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