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The Rich Are Not Who We Think They Are. and Happiness Is Not What We Think It Is (nytimes.com)
6 points by mcamaj on May 16, 2022 | hide | past | favorite | 1 comment


    >First, rich people own. Salaries don’t make people rich nearly as often as equity does.

    >Second, rich people tend to own unsexy businesses. These include auto repair shops, gas stations and business equipment contractors.

    >The third important factor in gaining wealth is some way to avoid ruthless price competition, to build a local monopoly. Auto dealerships have legal protections.
---- >My data-driven advice for getting rich for someone with good analytical skills and deep experience in a field is to start a market research business. Use your specialized knowledge in the field to write up reports; sell them widely and charge a fortune to your contacts in the field. I have estimated that more than 10 percent of owners of market research businesses are in the top 0.1 percent.

---- >In the end, Dr. Killingsworth found, the effects of money level off: You need to keep doubling your income to get the same happiness boost.

    >The activities that make people happiest include sex, exercise and gardening. Weather plays only a small role in happiness. People are consistently happier when they are out in nature.
----

    >Sometimes, big data reveals a shocking secret. At other times, big data tells us that there is no secret. And that’s the case with happiness.

    >The data-driven answer to life is as follows: Be with your love, on an 80-degree and sunny day, overlooking a beautiful body of water, having sex.

    >It’s a lot easier than owning an auto dealership.




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