Ask HN: What is the best effective possesion one can have now?

Re:Ask HN: What is the best effective possesion one can have... by qull on Sunday October 30, 2022 @09:51AM (#33394510)

Mindset. Imagine you are made destitute and thrown on the street. Even without connections, a former billionare will rise faster and easier than someone used to poverty. Knowledge is secondary and requires that same mindset to make use of. Of course money alone doesn't grant the mindset, but those with it seem to rub off and consider things differently. Such as Creating Wealth rather than Looking for a Job or handout.

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Re:Ask HN: What is the best effective possesion one can have... by chiefalchemist on Sunday October 30, 2022 @10:20AM (#33394714)

To your point (kinda), about knowledge. I have a phrase I like to use:

Understanding Is Power.

I believe it aligns better with mindset. Knowledge is collecting money. Understanding (or mindset if you will) is investing that money to achieve interest. The key is, interest , as we know, compounds.

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Re:Ask HN: What is the best effective possesion one can have... by rrwo on Sunday October 30, 2022 @10:49AM (#33394929)

> Even without connections, a former billionare will rise faster and easier than someone used to poverty

That's nonsense.

If a billionaire ended up destitute and anonymous without their connections, living in the street, they'd lack a lot of the knowledge about survival that many poor people have.

The only thing going for them might be if they are manipulative psychopaths and can get other people to do things for them. But I don't don't see how that is any better morally than getting a ”handout”.

Seriously, if you are living on the street with only the clothes on your back, how are you going to "create wealth"?

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Re:Ask HN: What is the best effective possesion one can have... by p0d on Sunday October 30, 2022 @12:23PM (#33395802)

Agreed. I saw a video once were a Maasia tribes person was sucking water from the ground without touching the water, so not to infect the water supply. I'd like to see how a few billionaires fair at that level of survival. One task you can't get others to do for you :-)

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Re:Ask HN: What is the best effective possesion one can have... by pmohun on Sunday October 30, 2022 @01:07PM (#33396281)

http://www.paulgraham.com/wealth.html

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