if it were that easy to just keep a billion, everybody would be running to the lotteries, no billionaire would be working their asses off to actually become a billionaire =)
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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h-i-s-t-o-r-y-2 wrote:
I'm a retired teacher. I suggest you take your scenario to your economics class and see what the teacher says.
sorry, didn't know that and called you 'buddy'.
Yeah...I'll ask my economics teacher as well...but if you see the real statistics, there's like a 0.00002 or something chance of a company making it into the billions... =)
There's obviously a possibility that someone just gets a billion and doesn't become bankrupt in the next few years..but those chances are pretty low =)
First I thoght it is a no brainer to take the money. But on second thought... I have enough money to live from and can earn more money in the future... So why not take an artistic skill that will stay for life. (If it is just the certificate without the skill, it would be wortless though.)
Dec 12, 2021
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#26
DreamscapeHorizons wrote:
Nobody is gunna take the GM title over the money.
I might, since my brain isn't a fully developed and functioning adult brain yet
Dec 12, 2021
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#27
h-i-s-t-o-r-y-2 wrote:
smh. Your logic has many flaws.
Yes people who win a few million in the lottery have gone broke but a billion is a whole lot more than a few million. There is hardly a thing you can buy with that much money to begin with. Even people today who have a billion don't spend it on the nonsense you mention, they own companies and/or invest it. Also, if you can actually find a $50 million house (I'll bet you can't), you can sell it. The same goes for anything you buy. You can't even list a billion dollars worth of things to buy unless you buy a company or a dozen baseball teams. These things all have value and can be sold if your silly scenario becomes an issue.
you could buy several large yachts and aircraft and spend money on their maintenance...probably run through a billion if you really wanted to. by the time you sell them, you might owe more than you get for them. it would take expert stupidity, but could probably be done.
Dec 12, 2021
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#29
h-i-s-t-o-r-y-2 wrote:
Also, if you can actually find a $50 million house (I'll bet you can't)
Pretty easily, actually.
https://www.wsj.com/articles/manhattan-home-at-aman-new-york-in-contract-for-55-million-11639080075?cx_testId=3&cx_testVariant=cx_5&cx_artPos=1&mod=WTRN#cxrecs_s talks about a condominium that sold for $55 million. Only 6300 square feet, albeit a very pricy location. There are links to other articles on comparably priced sales at the end of the article.
That said, $50 million is a drop in the bucket if you are worth $1 billion. I'd probably spend a few hundred million on a castle in Britain or something.
WomenBishopping wrote:
Take the money, and use it to pay off all of your opponents to let you win until you become GM. Or, you know, hookers and coke.
That's the best idea yet lol =)
1 billion$ .
No need to think
Dec 13, 2021
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#33
just think of all the chicks i could get if I had a grandmaster degree!!!
Speaking of chicks:
https://en.wikipedia.org/wiki/The_Millionaire_Matchmaker
Waiting for The Grandmaster Matchmaker...
Dec 13, 2021
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#35
I think one must be tilting horribly to think that being a GM is anything equivalent to being a billionaire. Tilting horribly or dreaming of something unattainable and thinking that because it's impossible it's that much more worthwhile.
Don't worry about being a GM. No one can unless they have enough ability that it was never in question anyway.
ron10023 wrote:
h-i-s-t-o-r-y-2 wrote:
Okay I'm done here. You're just a kid. Take some economics courses when you get to high school. Learn some things. Turn off the tv.
I'm already in high school buddy and have economics courses =)
That is very sad news. Every day we hear people complaining about schools, and taxes, and how their money is being wasted. It takes these real life examples to see how right they really are.
We can easily get a grandmaster to coach us on chess with 1 billion dollars though, just use 1 million to hire someone to coach you until you are good enough.
1 billion, easy choice.
Dec 14, 2021
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#39
a better comparison would be IM title (skill included, average 2450 perf) or a free year's worth of pay (i.e. your annual paycheck without tax)
lfPatriotGames wrote:
ron10023 wrote:
h-i-s-t-o-r-y-2 wrote:
Okay I'm done here. You're just a kid. Take some economics courses when you get to high school. Learn some things. Turn off the tv.
I'm already in high school buddy and have economics courses =)
That is very sad news. Every day we hear people complaining about schools, and taxes, and how their money is being wasted. It takes these real life examples to see how right they really are.
The sad thing is that there is some merit to the argument that giving most people a billion dollars would destroy their lives. The problem is that it isn't really an economic issue. It's more about how it would uproot their position in society and completely scramble their personal relationships. It also makes them a target for scamming and manipulation, etc.
I've researched and wasted days of my life researching this stuff...finally I have a place to use it =)