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  1. #11
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    Quote Originally Posted by SurlyAdam View Post
    Poor grammar is part of it...
    Nitpicking might actually make you "rich" Just because people might not be highly educated doesn't mean that they're not able to become wealthy. Maybe book-smarts isn't that big of a deal? It's the experience that matters more. People who have a "vision" for the future an they're determined to achieve things. Others who lack ambition might or might not get "rich". Who knows, there are so many variables.

  2. #12
    pathwise dependent FDG's Avatar
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    Quote Originally Posted by Fluffywolf View Post
    This, and to further explain it. Supply and demand. Demand most definatly being the most important factor in getting rich. Or rather said, the breaking point and how you work it in terms of competition.
    Yeah. Given that there is a constraint in resources, people cannot demand every type of good (something they would probably do without scarcity - hard to say anyway, since we have evolved in a situation of scarcity, thus we are hard-wired to think in that context). The next question would be: how do people fail to produce something that other people demand? First of all, there might be economies of scale (i.e. unless you are born rich, some ideas are extremely hard to develop); secondly, if everybody actually produces something that people demand (a good which is easy to reproduce), then on the whole the chosen industry will get less rich, since competition will lower the net profit.

    Again, I think that cloud totally lacks a basic understanding of economics. Read a book and you (cloud, not fluffy) hopefully will stop engaging in such silly reasoning.

    it's in a company's best interest to put as many barriers to entry as possible for potential competitors.
    Well, if your "as possible" entails something akin to "as long as leads to a rise in profits", then I agree with you. However, in most practical situations barriers to entry actually lower profits, since a lot of effort is needed in order to implement them.
    ENTj 7-3-8 sx/sp

  3. #13
    The Architect Alwar's Avatar
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    Quote Originally Posted by Sky is BLUE! View Post
    Maybe book-smarts isn't that big of a deal?
    Intelligence is not linked to wealth, according to a US study, but I bet being a selfish piece of shit with no integrity is!

  4. #14
    Nips away your dignity Fluffywolf's Avatar
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    Quote Originally Posted by Alwar View Post
    The Raw Story | Intelligence not linked to wealth, according to US study

    But I bet being a selfish piece of shit with no integrity is!
    Lol, yeah. I've had many situations in which I could've thoroughly abused system in order to get better. I try to keep things ethical as much as possible however. And I do sometimes find that honesty does not pay, at all. Not in currency that is. But as long as I'm staying in on the positive side of the scale, this is how I prefer to do business.

    You still need to be extremely sharp and tough though. When doing business, people will try to abuse you from all directions. And you need to keep taking them head on. This is the most stressing and tiring part of the work I do. But sometimes, when it gets turned around onto the oppressors. Oh god, it feels so good.
    ~Self-depricating Megalomaniacal Superwolf

  5. #15
    The Architect Alwar's Avatar
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    Quote Originally Posted by Fluffywolf View Post
    And I do sometimes find that honesty does not pay, at all.
    When I used to do consulting work I learned that the real money was made by people who prolonged the problem as long as they could. You can see it in many types of work. Take a car salesman, which makes more--the one who honestly wants to get you a good deal or the right vehicle for your particular needs? Or the one willing to manipulate you in order to sell you the car with the highest profit margin? You could probably think of endless examples.

    Edit: Well looky here, guess which grad students are most likely to cheat?

  6. #16
    Senior Member durentu's Avatar
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    Quote Originally Posted by Alwar View Post
    When I used to do consulting work I learned that the real money was made by people who prolonged the problem as long as they could. You can see it in many types of work. Take a car salesman, which makes more--the one who honestly wants to get you a good deal or the right vehicle for your particular needs? Or the one willing to manipulate you in order to sell you the car with the highest profit margin? You could probably think of endless examples.

    Edit: Well looky here, guess which grad students are most likely to cheat?
    I usually find that self interested entities do that. But entities that are for the benefit of others are more efficient. Not sure if I explained it well.

  7. #17
    Dreaming the life onemoretime's Avatar
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    Quote Originally Posted by FDG View Post
    Well, if your "as possible" entails something akin to "as long as leads to a rise in profits", then I agree with you. However, in most practical situations barriers to entry actually lower profits, since a lot of effort is needed in order to implement them.
    In the short term, yes. However, this usually leads to even greater profits in the long term; this was Sam Walton's entire business model (cut margins to where others couldn't compete - barrier #1, sign price exclusivity agreements - barrier #2). Once he got by on razor-thin margins enough to assemble a bit of working capital, he plunged all of that into establishing economies of scale (shipping, store size) in order to crush the competition, whose models were all short-term oriented.

  8. #18
    Senior Member miked277's Avatar
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    a lot of people want to become sports stars, but few have the physical gifts and the willingness to push themselves hard enough.

    a lot of people want to be smart, but few have the drive or curiosity to compel themsevles to study.

    a lot of people want to be rich, but few are disciplined enough to build wealth.

    opportunities abound; most people are simply not trained, don't have the will to work for it or even don't truly want to become rich. some people are, whether they admit it or not, completely happy not being wealthy.

    to sum up, it's a combination of motivation, natural ability and culture.
    I'm feeling rough, I'm feeling raw, I'm in the prime of my life.

  9. #19
    Black Magic Buzzard Kra's Avatar
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    Quote Originally Posted by miked277 View Post
    a lot of people want to become sports stars, but few have the physical gifts and the willingness to push themselves hard enough.

    a lot of people want to be smart, but few have the drive or curiosity to compel themsevles to study.

    a lot of people want to be rich, but few are disciplined enough to build wealth.

    opportunities abound; most people are simply not trained, don't have the will to work for it or even don't truly want to become rich. some people are, whether they admit it or not, completely happy not being wealthy.

    to sum up, it's a combination of motivation, natural ability and culture.
    This.

    I also find that many people don't realize that you don't usually achieve wealth through one venue. Most wealthy individuals have spread their assets into several markets with promising outlooks.

    However, no matter how intelligent or good at investing you may be, there will always be some element of chance involved. The trick is, don't be afraid of taking those chances I suppose.

  10. #20
    Senior Member alcea rosea's Avatar
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    Maybe not everybody wants to get rich at all?

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