Comment by WalterBright
12 hours ago
> Nothing fair, or just, about this world we live in
We all make different choices, and so have different consequences.
For example, I squandered the proceeds of a business deal on a new car. If I'd bought MSFT instead, I could have bought 100 new cars.
So what you're saying is that we all just need to become better gamblers? That doesn't exactly scream functional society to me.
Besides, this can't work for everyone - if you get 100 cars without an equivalent amount of more work put in then someone else has to do that work without being properly compensated for it.
Gambling: the ROI math means you lose money
Investing: the ROI math means you make money
> So what you're saying is that we all just need to become better gamblers?
It means take advantage of the free education you received. Make an assessment of what you enjoy and what you are good at. Select an opportunity in the intersection of those two endeavors.
People start businesses every day in America.
> Besides, this can't work for everyone
Wealth is not zero sum. If you create wealth, that does not mean someone else must be worse off.
It shifts the gains away from the marginal investor in Microsoft who was only willing to pay a penny less for those shares (probably an eighth of a dollar when this anecdote happened). Instead of them getting the 100 cars, the buyer who was willing to hit the ask earlier gets them.
That profit comes from owning a piece of a productive company, productive companies often spring from early-stage losses that require investment money from somewhere, seed stage money comes from the high likelihood that later stage money will come in if the venture appears successful.
Your comment does not address the (imho reasonable) criticism that the described system incentivizes gambling as the key to wealth, rather than labor.
There are many problems with a gambling based economy, not least among them that over a long enough time line, all the money ends in very few hands.
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If I'd simply written the correct numbers on last week's lottery ticket, I could do that.
(hindsight stock picking is terrible!)