Met a guy with a Bugatti Veyron got me thinking about life
I met a dude with a Bugatti Veyron recently.
They are degreeless 3rd generation agro business owners. Had real humble origins but they own lots of other commercial properties.
Made me think. When we think of high net worth individual or UHNWIs we think of well-spoken Ivy League types. But those aren't the template.
Many of the wealthy are ordinary people in speaking and articulation who just built wealth by owning small to medium scale enterprises in arrays of uninteresting or simple businesses.
Yet we always think the paths to it are hedge funds, wall street, ivy leagues etcetera.
Has anyone ever contemplated that income expansion comes through increasing productivity tied to how we get paid ? In other words instead of getting paid by the hour if we owned any stupid business and got paid by the output sold that alone in itself is a vocation that can beat any thing else.
Yet we spend 20-30 years working on someone else's ship being dolts who can be replaced at a whim.
Even in Formula 1, the real genius is the man who owns the platform not the one who has a team. The F1 platform owner gets paid regardless of who wins.
In other words, most people have no equity or ownership in the the firm they work in. Who cares how much you get paid. The real source of wealth is owning factors of production. Whether it's owning land (as it was during the age of empires) or nowadays, owning a stake in a company or owning even a rental property.
Owning shit that is productive is key here. I'm starting to think the real reason most people don't become rich is not because they're dumb or not capable. Compounding sums of money, investing, reinvesting, and doing that over a lifetime in and out of itself is a job and effort in itself. Most people do not have the time, patience, interest, or frankly boring ness to do all the boring shit involved in realizing financial freedom.
So they sit in some cubicle or desk for 30 years even though it caps their growth.
Look up Bruce Halle if you think this theory is crap. Who knew you can make billions in discounted tire repair shops.