> But who wants a 70% chance at being a millionaire, when there's 0.01% chance at being a billionaire on offer?
Literally anyone in the world will take the first deal.
Literally anyone in the world will take the first deal.
There's an entire income/asset range where the former isn't enough to justify passing up the latter. E.g. if you already have $3M+ in the bank, the marginal utility of that extra million is starting to diminish.
Now, a roll with a decent chance at $1B sounds much better.
And, flip side, if you have almost no money and almost no experience, you might also take the first one - because it leaves you with a 100% marketable set of skills that'll likely translate into much more than 1M.
There is no disagreement.
But otherwise, yes. I was pointing out that "everybody" isn't quite true.
You might accuse me of splitting hairs, but I think it's an important distinction in the context of vkou's comment and parents.
Most of the time it’s more than the amount of money I’d have, and I’d have to get lucky to make the numbers work to even break even. And I’d only have one shot.
I don’t know which deals you’re finding but everything I find is more than just a 70/30 risk.