• Soup@lemmy.worldEnglish
    153·
    2 days ago

    Bezos makes ~$2,500 every SECOND. His big idea? Get a bunch of funding to heavily undercut local bookstores and operate at a loss while destroying local businesses such that he could take over as a near monopoly. And it’s highly doubtful that it was his idea, but it worked because when you’re willing to cheat against those not willing to do the same you’re gunna win.

    • vala@lemmy.worldEnglish
      27·
      2 days ago

      Best part is Amazon can’t even manage to shop books without destroying them at this point.

  • kuhore@lemmy.worldEnglish
    53·
    2 days ago

    If you made 7000 dollars every hour since Jesus was born, you would still not have as much money as Jeff Bezos.

  • eletes@sh.itjust.worksEnglish
    1161·
    2 days ago

    Here’s the math since I was curious

    1492 was 194,440 days ago * $5000 = $972,200,000

    Forbes put bezos at $209,000,000,000 for 2025

    • MoonlightFox@lemmy.worldEnglish
      52·
      2 days ago

      The author of the tweet didn’t go far enough. Should have gone for for 1 million USD instead. Even if you made 1 000 000$ every day, it would still not be enough.

      Absolutely insane.

      • noodle (he/him)@lemm.eeEnglish
        33·
        2 days ago

        shit, I was about to write that you overshot by a few zeroes, and then I looked closer and put the commas and everything, and you’re right: 194,440,000,000.

      • DogWater@lemmy.worldEnglish
        10·
        2 days ago

        Well it says that you wouldn’t even be a billionaire. That’s right up against the limit for being a billionaire.

        But yeah bezos has over 200x that money

      • jballs@sh.itjust.worksEnglish
        363·
        2 days ago

        It cracks me up that compound interest gets raised every time someone makes an argument about just how much money billionaires have. As if the only reason we’re not billionaires is because we were too dumb to invest the $5,000 we’ve been making every day since Columbus sailed the ocean blue.

      • Croquette@sh.itjust.worksEnglish
        2·
        22 hours ago

        No it isn’t because it’s an imagery used to show how absurd that amount of money is. 5000 a day is easy to grasp and a few hundred years is easy to grasp.

          • Septimaeus@infosec.pubEnglish
            10·
            16 hours ago

            Compound interest when charged by lenders

            Today “compound interest” usually relates to reinvested dividends and amortized growth/appreciation of investments (e.g., stocks, bonds) simply because non-predatory loans are designed for payoff within some fixed term. So if the term “compound interest” applies, something unexpected is happening (e.g., default) and the loan will be bundled and sold at a discount to collections.

            Not far enough back to make a difference I’d wager

            I’ll take that wager! 5k daily, ignoring inflation and leap-years, compounding annually (not quarterly) at 10% annualized ROI, gives us the standard annuity formula

            1.1 * 5000 * 365 (1.1n-1) / 0.1

            where n is the number of years, which

            … in 100 years becomes ~278 billion (e11)

            … in 200 years becomes ~3.8 million billion (e15)

            … in 300 years becomes ~53 billion billion (e19)

            … in 400 years becomes ~721 thousand billion billion (e23)

            … in 533 years becomes ~231 billion billion billion (e29)

            If that sounds incredible to you, you’re not alone. It’s the result of a hyperbolic growth curve that starts slow but keeps accelerating indefinitely, and 533 years is a very long time in market terms, so you easily reach the silly-numbers range.

            Edit: the numbers before were napkin computation. I edited this to use the standard annuity formula which should be more accurate. Point should be the same though. Exponential growth is crazy.

    • 𝕽𝖚𝖆𝖎𝖉𝖍𝖗𝖎𝖌𝖍@midwest.socialEnglish
      63·
      2 days ago

      I’m more interested about the 5k/d. That must be excluding compound interest. Like, all the money if just being stuffed into mattresses, or something. OTOH, having your money in a bank account might have reset you to zero in 1929.

    • o1011o@lemmy.worldEnglish
      7·
      1 day ago

      Maybe but there are also lots of people with mental illness who manage it and are still decent people. Not every sociopath is a serial killer but every billionaire is fucking evil. The decision to acquire great wealth at other’s expense and use it only for yourself is something else.

  • 58008@lemmy.worldEnglish
    30·
    1 day ago

    It makes me think of hoarders. It just happens to be the case that money is universally sought-after, and so we think “it make money, is good!” But it’s not much different from someone with stacks of ancient newspapers filling 98% of their living space. It’s not like Jeff could actually spend all of that money even if he wanted to. He has more than he could ever need to live the most lavish and privileged of lifestyles, including giving the same to several generations of his offspring. He could still go to space and do all that crazy shit with 10% of what he has in his bank account. It can’t be normal.

  • DirkMcCallahan@lemmy.worldEnglish
    67·
    2 days ago

    Conservative logic: Giving poor people a small amount of money will cause them not to work, whereas passing laws that benefit billionaires will cause them to create jobs.

  • e$tGyr#J2pqM8v@feddit.nlEnglish
    61·
    1 day ago

    taxes or the guillotine. decapitilization or decapitation.

    I prefer the first option, but ultimately the outcome is what’s important.

  • Limonene@lemmy.worldEnglish
    2524·
    2 days ago

    Bezos does not make a billion dollars in a week, unless you count certain short term gains based on random variation of the stock market, in which case he also loses a billion dollars in some weeks.