Comment by stouset
8 months ago
> value of money is quite absolute
You are conflating price and the value. I assure you that to a billionaire, $250,000 is of nearly no value at all.
8 months ago
> value of money is quite absolute
You are conflating price and the value. I assure you that to a billionaire, $250,000 is of nearly no value at all.
In other words a billionaire has a distorted perception of money. Also, water is wet.
To someone in Nigeria on 50usd per month, 1usd is a lot. To a guy earning 10k per month in California, 1 usd is nothing. Who’s distorted here? 50usd or 10k guy?
Everything is relative.
Not distorted. It’s a billionaire perspective, but it’s very real and 100% true to the billionaire. Look up the concept of marginal utility of money.