Apparently the thinking about salaries goes from poor to rich: ... hourly salary ... monthly salary ... yearly salary And at some point: Thinking in hourly salary again
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oh so that's what people call the circle of life!!
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Where is this from?
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In 2017-2018, Bill Gates made $268k/hour on his roughly $91B fortune. So I guess it's possible?
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Nice contextualizing. Makes it clearer that “my time is $200k/hr” for regular mortals is kind of a negotiation trick / attempt at psychological hack
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With a full time schedule that's $400M/yr. The man is rich but I don't think he's *that* rich.
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Difference between "full time" vs "smart time". I allow 2 hours of my day to be spent doing for others. In that sense, I have a scarce supply of 700 hours. Regardless of demand for Accountants, I bill based on scarcity. New hours = $400, Old Hours = $80. John is same.
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You have a marginal rate of $400, and work to replace lowest worth Old Hours with New Hours. So long as new work > deprecation, one is increasingly profitable. Seeking for a pure and complete swap is unprofitable. The objective is Marginal Profit, not total profit.
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Example. An $80 / hr task is worth $80. Best there is = $120. Swapping 100% of $40 tasks with $80 tasks = 100% gain, but 100% of tasks maxing out at $120. Better is to swap to $400 / hr task, 5% of hours = 95% spent doing $40 tasks, 5% doing $400 / hr tasks.
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One creates longterm growth, the other creates longterm stagnation. Likewise, in budgeting, one needs X to live. Say $40,000 for 'wealthy' individual. This means they could swap out 100% of working hours for $400 / hr tasks, if they reduce the scarcity of supply to 100 hrs / yr
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Managing investment dollars, etc, is in effect an hourly rate of return. If one has $100 Mil of investments to manage, and prefers leisure over work, adding a 10% gain using 50 hours = $200,000 / hr. $200k is redic, but like.... $1,000 / hr could be normal for multimillionaires.
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What is the source of this quote?
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For those asking about the source:https://www.thecut.com/2017/08/ellen-pao-silicon-valley-sexism-reset-excerpt.html …
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What’s that from?
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His thinking is flawed though. You still have to do the work, pay attention to the details.
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But just think... one hours work = Telsa Roadster
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Goals
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