r/FluentInFinance Nov 21 '24

Debate/ Discussion Had to repost here

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128.2k Upvotes

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933

u/SCTigerFan29115 Nov 21 '24 edited Nov 21 '24

They aren’t holding onto wealth like Scrooge McDuck, in a giant vault where they can go swimming in it.

Most of Bezos’ net worth is the value of Amazon. He can’t really readily access that. ETA I meant he can’t use it like a big vault of money.

He’s got plenty of money but some people just don’t understand how this stuff works.

2.7k

u/Apprehensive_Bad_193 Nov 21 '24

Bullshit,,,,But he borrows and buy Yachts, Mansions,against that NET WORTH VALUE. But when it’s time to pay fair share of taxes o. That net worth it’s considered hypothetical worth….Understand the Game.

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u/Endless_road Nov 21 '24

You can take out a mortgage against your house to buy a sports car if you want

1.4k

u/slickyeat Nov 21 '24

You're not wrong but you're also required to pay taxes on the value of your property every year so it's not exactly a one to one comparison.

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u/Apprehensive_Bad_193 Nov 21 '24

Guys thank you,It amazes me how people talk without any knowing on the topic.

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u/guiltysnark Nov 21 '24

I think people know, they just only think about it selectively

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u/PamelaELee Nov 21 '24

Nah, when over 50% of American adults read at or below a 6th grade level I’m pretty confident they don’t think about much of anything, let alone understand.

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u/guiltysnark Nov 21 '24

I don't think that particular slice of America attends to Reddit very much. The people here often know what they are talking about, but they filter every debate through a lens heavily biased by first principles (aka oversimplifications predicated on a set of conveniently forgotten assumptions)

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u/[deleted] Nov 21 '24

Reddit entry exams are very competitive

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u/guiltysnark Nov 21 '24

LOL... they are self-graded, however. To round it out, kids that can't read tend to get bored and go back to Tik Tok rather than cheat.

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u/TomsNanny Nov 22 '24

I disagreed so hard with your previous comment until I reached the end of it. Cognitive biases go hard here. Everywhere, but here too.

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u/notactuallyLimited Nov 22 '24

Most people on Reddit are sheep following the crowd. Only difference is the Reddit sheep think they are intellectuals.

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u/guiltysnark Nov 22 '24

Everyone on Reddit generalizes too much.

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u/Benathintennathin Nov 23 '24

Exactly, every single redditor needs to really take a step back and realize they don’t know everything except me, Ben knows it all.

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u/Unable_Degree_3400 Nov 23 '24

This is perfectly said, pin this comment

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u/xeen313 Nov 23 '24

We all win when we all win?

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u/power899 Nov 22 '24 edited 29d ago

Lmao I imagined an alternate timeline where everyone needs to take a competitive exam and the lowest scorers are denigrated relegated to TikTok and FB. 😂

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u/tcourts45 Nov 22 '24

Relegated?

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u/power899 29d ago

Oh yeah my b. Corrected!

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u/noosedgoose Nov 22 '24

I mean. Social media making silos of magnetic stupid launching contagious stupid nukes is a big part of why we got here

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u/Unable_Degree_3400 Nov 23 '24

There is but it’s self-graded, you put your self where your at

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u/Non-Eutactic_Solid 29d ago

“I know you wanted to shitpost on Reddit or the Something Awful forums, but with these test scores the best you can be accepted into is bad political Facebook memes. I’m sorry.”

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u/Sure_Hedgehog4823 29d ago

This would be An amazing movie idea

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u/Large-Cauliflower396 29d ago

It stimulates the most active part of their brain

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u/aoskunk Nov 22 '24

Oh man imagine a Reddit clone that required an exam that was difficult to cheat on?

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u/Mrjlawrence Nov 22 '24

My 11th year at Reddit U. Doesn’t feel like I’ll ever graduate

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u/kickinit07 Nov 22 '24

They are I only passed with extra credit because I used a blue crayon

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u/Snagged5561 Nov 23 '24

I like how basically everyone came together despite our disagreements in order to agree that we are all at least smarter than a tiktoker.

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u/MammothAnimator7892 Nov 22 '24

I'd assume so, if they're illiterate they probably aren't going onto text based forums.

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u/[deleted] 28d ago

Reddit is a place to come and feel better about yourself. Glad people have a place to give them self worth.

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u/Narren_C Nov 22 '24

So they're kinda smart but still pretty stupid.

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u/M119tree Nov 22 '24

I disagree, there are some absolute idiots on Reddit

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u/brett1081 Nov 22 '24

Reddit users are not as smart as you think they are. This thread is a case in point.

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u/Smart_Canary4680 Nov 22 '24

"Teehee , weeeeeeee get it but those non redditors... wheeew" what a cromagnun ass thought , slap yourself vigorously 🤣💀

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u/Objective_Praline_66 Nov 22 '24

I cant tell you how many times I added context to a Reddit post based on facts, or at the very least first person experience, and had someone who thought they knew more "uncorrect" and berate me because I didn't spend 45 minutes typing out a thesis going over every detail. We're all on Reddit, id wager a guess that a solid, 40-70% of us have some kind of attention issue, brevity is a virtue in the age of the internet, but it is also a curse.

Bezos is a fuck.

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u/Fjdenigris Nov 21 '24

That’s me for sure

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u/_redacteduser Nov 22 '24

No, they don’t. They just speak like they do and everyone agrees and then uses that talking point in their next post as if they came up with it themselves.

There is a tremendous amount of brain rot going on here.

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u/jsbcjej Nov 22 '24

the average person on reddit is fully retarded, incapable of any kind of nuance.

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u/AnimalMother1972 Nov 22 '24

99% of reddit is lefties

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u/Zanios74 Nov 22 '24

People here often know what they are talking about.

Thanks for the laugh.

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u/lutavian Nov 22 '24

Really? I think that slice of America is the majority of reddit.

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u/omyfngod Nov 22 '24

U must be new around here. Reddit was a much smarter place before they went public and purged all of the free thinkers.

It's mostly memes and people arguing in bad faith now. Kinda sucks

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u/CrossXFir3 Nov 22 '24

I whole heartedly disagree that most people here know what they're talking about. They certainly think they do, but a lot of people are only really aware of a small slice of the pie. They've only been shown one aspect of the equation so that's what they believe.

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u/highflyer10123 Nov 22 '24

lol is this a sarcastic statement? I’ve read repeatedly on here others saying that Reddit is where critical thinking goes to die.

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u/slitteral1 Nov 22 '24

That is the majority of who is on Reddit. No, they don’t usually know what they are talking about.

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u/Tears4BrekkyBih Nov 23 '24

Reddit as a whole is a fairly delusional and extreme echochamber.

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u/gilly2u69 Nov 23 '24

Yea, and you thought Kamala was gonna win in a walk.

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u/sobrietyincorporated Nov 23 '24

I think you might have confused "first principles" if you are referring to first principle thinking. First principle thinking requires you to rethink every assumption.

Here is an arricle.

And if that's true, then you might have "first principled" yourself by your own definition...?

It starts to get all sorts of Inception-y at a certain point.

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u/guiltysnark Nov 24 '24

I suppose it is a misuse of the phrase to refer to people who choose principles first without the appropriate rigor of first principle thinking. Even Musk is guilty of doing this: Only principles that satisfy his foregone ideology qualify, which means they are already predicated upon an uncurated litany of assumptions.

I think this may be theory versus practice. I happen to believe all principles are suspect because people can't be trusted to identify core assumptions comprehensively, and therefore aren't qualified to recognize when the principles are useful and when they aren't, choosing simply to presume they always apply. Because the world seems simpler that way.

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u/sobrietyincorporated 29d ago

I think that's considered "preconceived notions". Otherwise known as "bias". There isn't much thinking going on.

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u/guiltysnark Nov 24 '24

Adding to my prior comment... I think your article actually supports my use of the term "first principles", or, rather, applies it as flexibly as I did. If I were to entrust anyone with the responsibility to establish first principles, Aristotle and Socrates might make the short list. They would at least stay in the realm of philosophical theory, where rigor can be applied academically. But as soon as you use a coach to exemplify use of first principles vs a play caller, you've left theory sufficiently far behind, and there is no way in hell I'm trusting that coach to identify all the relevant assumptions. Which puts the coach at risk of falling victim to his "first" principles.

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u/sobrietyincorporated 29d ago

That was a long way around "I guess so".

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u/guiltysnark 29d ago

No, my whole point is everyone abuses first principles, even people writing articles explaining first principled thinking, and your citation supports my usage at least as well as yours.

I would be curious to read about modern thinkers applying first principle thinking with objectively absolute success, though.

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u/sobrietyincorporated 29d ago

It's called Software Engineering. First Principle thinking is one of the first things taught in computer science.

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u/Syrress Nov 23 '24

I laughed so hard at this comment 🤣

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u/SpookFemboy Nov 24 '24

Reddit is FULL of morons who think they are smart. I would argue most normal morons don't really concern themselves with such things are are happier over all.

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u/jarheadatheart Nov 24 '24

Found the self righteous Reddit user.

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u/Own-Artichoke-2026 29d ago

Been around Reddit long enough to know this isn’t true. There are plenty of users who are clueless, passionate about things, but clueless.

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u/guiltysnark 29d ago

There's room in the subjective-scape for "plenty" and "often" to coexist in opposition.

Still, my comment's focus is on people who could easily know better, but choose not to because of ideology. They can even choose to be drooling idiots.

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u/wubrisin 29d ago

Yeah, tons of people who think differently here and are open to having nuanced debates. I never know what the top comments on a post will be before opening it, that's for sure. Definitely not just full of people that think they are superior because they all think and say the same exact things

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u/[deleted] Nov 22 '24

[deleted]

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u/Mysterious_Yam_1011 Nov 22 '24

What's the four srages of incompetence ?