what if one offers you A grandmaster degeee as well as 1 billion dollar and says to take one of two
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$$$
Nobody is gunna take the GM title over the money.
Dec 11, 2021
0
#5
They're not going to be able to re-do my brain and enable me to play like a GM. And nobody is going to make $1 billion playing chess anyway.
yeah
With a few million $ you can rent computers and assistants to solve chess.
Dec 12, 2021
0
#8
tygxc wrote:
With a few million $ you can rent computers and assistants to solve chess.
You would need a computer that is many orders of magnitude larger than the entire observable universe 
#9
No, just present cloud engines during 5 years.
I'd take the gm title.
getting a billion dollars, when we spend it, if we dont have a good income source, of atleast 50-100 million a year, you will go bankrupt in 5-6 years, which is why most lottery winners go bankrupt in just 2-3 years, they can't pay the mortgage and maintanence on stuff they've spent billion on. =)
gm title provides something like 2 mill a year...so i'd take that =)
#11
Most GM struggle to make ends meet.
Only the very top earn well, but do not forget about taxes and they have to pay their teams of humans and computers.
yea...but its still safer than a billion dollars handed over just like that =)
https://www.youtube.com/watch?v=dgtH3klR8CY
Its also one of the main reasons why people like mr beast can just like that hand over half a million dollars....if there's a steady source of income at a good rate, lets maybe even say half a million a year...even then its much better in the long run =)
you need to get into the economics of real life....when you get a billion, you're obviously not gonna remain in the rundown house downtown, and are gonna buy atleast a 50 million+ house in 2-3 months, maybe more than 1 too...you're gonna buy a few cars, totalling up to another 30-40 million, you're gonna buy customisable stuff, hobbies, expensive celebrity worn stuff, auctions etc and will have spent upto 500 million in the first year itself. People think they can control a spending spree when they first get a lottery or maybe a billion. Remember, in all the while, you're not earning a single penny more, coz of youre new status you probably left your previous job as maybe a salesman in a small company or a receptionist or a manager of a small group. then...over the next 2-3 years, you'll be spending about 50 million a year just on maintenance of your new assets, leave the fees of a new driver, a new group of servants and stuff...whose costs if you add up will be around 10-20 mil a year. you will have donated a few million (5-10) million coz of peer pressure....(assuming you're not a philanthropist, in which case you'd be donating over 50 mil making your cost strain even more). You'll be eating at fancy restaurants and maybe get a fancy chef and you'll be eating more expensive and imported food items...and over a year, can cost upto 10 mil..maybe more. Now comes your friends, who have most likely abandoned you, if not then they're still with you and have an eye on your assets and you're probably buying them much more expensive stuff in parties, and that sort costing upto lets say 2 mil a year. already in 2 years time span you're left with around 50-100 million dollars..and over the next 2-3 years youre huge asset of 900 million needs tremendous maintenance at high end service centres, and you will have run through the left over 50-100 mil in about a year and are already in tremendous debt in the 4th-5th year and have to go bankrupt, get back your jobs that you had, but now your bosses or interviewers dont like you coz they know you left the job and you can't manage money..so you are left jobless. no friends anymore... and not in a relationship anymore coz the new fancy girlfriend you picked up in your span as a billionaire doesn't love you, but just had eyes on ur cash, and when you go bankrupt...she leaves for a different guy..so you're in depression all in all....
This is a very similar situation happening to most lottery winners and peeps like that who just took huge tons of money without thinking of a steady source of income...and its near damn impossible to manage a billion dollars without atleast a 50-100 million income a year. =)
oh!! And I forgot....a billion bollars, in 1 year becomes worth 750 mil coz of money depreciation, nad in the next yr, 600 mil, and then 500 mil if you dont spend most of it in the first 2-3 years. =)
Exactly!!
if you own a company or investing strategies, then you already have an income of 50-100 mil a year...but you have to realise, you're starting a new company or investment plan, and it takes upto 5 years for a startup to actually make a single penny profit..and upto 10 years for it to go upto the million dollars level. also, you'll have spent a lot of money on the startup as well.. =)
Similar with investments, =)
A house you buy, if you're going bankrupt in 3 years, is gonna value from 50 mil to 10 mil coz of depreciation and of usage =)
the silly scenario you say....is the exact condition of 99% of lottery winners...and lottery winners gain around 500 mil. a billion is even harder to manage =)
you cant sell your maintenance costs, your bank accounts, your servants and helpers etc. =)
A house worth 50 mil will take around a year for someone to actually buy it. by then you're already bankrupt and living in the streets coz you sold your house =)
The situation here is that someone just plonked a billion into your bank...the way you're telling to manage is actually quite impractical..although theoretically correct =)
h-i-s-t-o-r-y-2 wrote:
By the way if you put one billion in a bank account earning 2% interest your income is 20 million a year. You could simply invest the billion and live on the interest.
again....you get an income of a stable economy then...and you cant spend the billion at all coz then int will go down...
Banks dont allow to keep more than 50 mil or so so you have to put in investing like other billionaires do, the only issue is you cant make a single mistake and you're pushing in investing of billion level in a span of 1-2 years while real billionaires(successful) have done it for decades =)
also...taxes on the billion dollars will be huge too. so count that as well =)
h-i-s-t-o-r-y-2 wrote:
Houses don't depreciate. They go up in value. If what you're saying is true why are there billionaires today? How come they aren't all bankrupt? It's simple. They own corporations, which like I said you could buy. I didn't say start one.
99% of lottery winners do not go bankrupt. A few do.
Yes sorry, its actually 70% who go broke..still a large percent of peeps.
true about houses...but you have to sell it..taking a year and you have to look for a new house relocate and all that, costing even more.
Current billionaires as I said, had a steady source of income before they made their billions.
you cant just like that buy a huge million-billion dollar range company in a term of 3 years, and even then, lets say you manage to do it, you have to pay salaries for a huge num of peeps.
A company will only be willing to sell itself if its itself near bankruptcy and has you or no other choice. You have to pick up a whole billion dollar company from the ground up, impossible as the company's losing money too, and you're already left penniless buying the company, then trying to bring it up.
You have to think about what would a billionaire do and from his pov...not what would an average bloke do if placed in his shoes =)
h-i-s-t-o-r-y-2 wrote:
Where do you get the ridiculous idea that having a lot of money makes you go broke? You watch too much television. One or two people who won a few million in the lottery bought crazy things like jets and big houses then couldn't afford the taxes on them. You could not possibly spend a billion dollars. Go ahead make a list and tell me none of it has value that doesn't actually go up not down. Money in the bank does not lose value it gains interest. Money invested in companies can go up or down but there are plenty of businesses that pay dividends on stocks that exceed 6 or even 8% a year. That's 100 million a year in interest. Do you realize that a billion dollars is 1000 x a million?
Read articles or watch youtube or documentaires on real situations of lottery winners. Earning a billion is very very different from immediately getting a billion.
Its true I cant name 1 thing worth billion. but I can name dozens of real life necessities of a billionaire to manage his money on over 3-4 yrs which is a huge timespan. =)
tru that a billion is a 1000x million, it doesnt prove anything. =)
When you're analyzing a situation, you have to think from the pov of the person there!! you're thinking in the same way all lottery winners thought before they lost their life. =)
You're just considering cash....you need to consider time too =)
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