Hacker News Reader

Comment by itishappy | Hacker News Reader

47% YoY growth is insane. 5 years of that rate would be a 7x increase in wealth over that period. I'd click on that.

It's nor insane if you have capital. The more money you have the nicer your loans are and the more people pay you to let them hold your money so they can leverage it to make more money and give you a cut.

The deceptive thing about this "eat the rich" b.s. the media likes to spread is that they make it seem like there is a pie and the rich are eating a lot of it. In reality it's more like there is a cash river and they're drinking a lot but they won't drink any less if more people got in on it. Most USD only exists on paper and most of it is not owned by individuals or considered part of their wealth.

This principle works in many other aspects of life. If google and microsoft want to hire you then so would 1000 other companies. If you can date 10 women ar once 1000 women want you. If you can defeat all your neighboring countries, you can probably give a superpower a very hard time if they invade you.

Little x little = little

Big x big = very very big

Having little capital allows for a great deal of growth in wealth. If you're total wealth is $1, assuming you've got an income, if you find a way to shave ~50 miles off your driving, you're going to see triple digit growth in your wealth.

More digits but little money.

S&P 500 YTD is at 20%

Vanguard growth fund (VIGAX) 42%

AMZN 71%

APPL 56%

MSFT 55%

GOOG 52%

TSLA 124%

Anyone with an aggressive but not insane portfolio could be at 47% growth in 2023.

yes but the size of the portfolio is the issue here

Okay, but that's not the framing of the argument I'm responding to in this thread. The title of the article and the people I'm responding to are framing the percentage growth as the problem.

It's called the AI boom/hype. I have doubts about the equity gains in the companies that have moved on AI speculation alone.

Reply on news.ycombinator.com