“”Here's the number I used to win the lottery“ –Entrepreneurs giving advice”

Re:“”Here's the number I used to win the lottery“ –Entrepren... by dorkwood on Saturday March 04, 2023 @07:14PM (#35025827)

> It proceeds to say he made about $400000 from the mine in total - hardly a billionaire villain level money.

Just to clarify for anyone else wondering, that’s 400,000USD inflation adjusted for 2021. Converted to South African rand, it’s about 7.2 million.

To put that in context, the average home price in South Africa is about a million rand. So at most they would have been able to buy 7 properties. If they bought in an expensive area, they likely would have only been able to afford 4 or 5.

[ Parent | on HN ]

Re:“”Here's the number I used to win the lottery“ –Entrepren... by dragonwriter on Saturday March 04, 2023 @08:08PM (#35026136)

> Converted to South African rand, it’s about 7.2 million.

> To put that in context, the average home price in South Africa is about a million rand. So at most they would have been able to buy 7 properties

That’s... not how averages work.

[ Parent | on HN ]

Re:“”Here's the number I used to win the lottery“ –Entrepren... by dorkwood on Saturday March 04, 2023 @09:33PM (#35026448)

If a house costs a million rand, and you have 7 million, then you can buy 7 of them, right? What am I missing?

[ Parent | on HN ]

Re:“”Here's the number I used to win the lottery“ –Entrepren... by dragonwriter on Saturday March 04, 2023 @09:34PM (#35026452)

If an average house costs a million rand, and you have 7 million rand, 7 properties is not the maximum you could buy.

(If the minimum price was a million rand, then 7 would be the maximum.)

[ Parent | on HN ]

Re:“”Here's the number I used to win the lottery“ –Entrepren... by dorkwood on Saturday March 04, 2023 @10:16PM (#35026620)

Oh, I didn’t realise I wrote “at most”. You’re right, that was incorrect.

[ Parent | on HN ]