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by carlosjobim 5 days ago
On the contrary: People with a low net worth have very few opportunities to scratch and claw their way out of their holes in this global feudal system. They are the ones who need to be able to make high-risk, high-reward investments.

A conservative 10% return on a 2 million dollar investment is a very nice 200 000. A conservative 10% return on a 20 000 dollar investment is just 2000.

If you're not born rich in this world, there are but a few doors that are open to you to try to improve your station in life. Hard work will never help you out of the hole. Not even dangerous work. Nor will an education. At least with high risk investment you have a fair chance, and at worst you loose your savings and are back where you started. You're not going to lose your life or your limbs.
1 comments
abustamam 5 days ago
Anecdotally, I know more people who have clawed out of poverty with hard work/education than I know people who got lucky with an investment. And I know plenty of non-poor people who got lucky with investments via IPO or crypto.

> at worst you loose your savings

This is a pretty optimistic take on how much money people who live paycheck to paycheck can actually save. I'd probably suggest that poor people with savings start a business over investing.

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carlosjobim 4 days ago
Hard work is the first stepping stone, to crawl your way out of complete poverty. Where would a person otherwise get money to invest. But that doesn't mean you're out of the hole.

What I'm talking about are things like being able to own your own home without being born into it or getting it from inheritance. That is a big gamble trying to do with just hard and smart work.

> I'd probably suggest that poor people with savings start a business over investing.

I'd like to adjust that: Starting a business is a better option than hard work, because with your own business you can actually get a good return on working hard and smart. But unless you're a business genius, it's a good idea at one point to invest your proceeds into the stock market rather than investing all back into your own business.

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