On becoming top 10 richest people in 8 years

Discussion in 'Trading' started by ChkitOut, May 19, 2012.

  1. So it looks like zuckerberg is worth about 20 billion. That puts him in and around top 10 or 15 or so richest people in america.

    So, I gotta ask. Am I the only one that finds something fundamentally wrong that you can do that in 8 years? From scratch?!?! Starting at zero??


    Doesn't this sort of defy the laws of phsyics or something?
     
  2. Nothing wrong with that because it's the nature of technology that allowed him to create social networking, a vast market that had never existed before. FB has been able to get nearly 1 billion users in 8 years, which is something never accomplished in history until Zuckerberg.

    Historically, the fastest fortunes were created from businesses focused on new technologies at the time. Carnegie with steel, Gates with software, etc.
     
  3. Nothing wrong and this is the fastest way to riches in this era
    1) learn programming.
    2) form a startup, sell it or go IPO.
    3)Enjoy
     
  4. and another thing, why does it seem like its always ivy league kids that get to this point. can't somebody from a freaking lower tier school come out with a great idea that takes off? what the hell.

    so for fun i just thought of a random company that i like and lets see who runs the joint. lets go with zappos, i like shoes and its a good company..

    Tony Hsieh - Harvard grad! Ahhhhhhhhhh!!!!! :p
     
  5. Napster.
    FedEx. (I think)
    Five guys
     
  6. You own. Or you are owned.

    Startup ideas are like the lottery.
     
  7. Can't hate on someone is making the big money. All he had was an idea at the start. An idea turned into this.
     
  8. Wealth is not a physical world thing but a derivative of power and a mind object. Physics (AKA the science of war - another idea) is about a world that we can touch. No human can touch 20 billion dollars. The real world has limits, our ideas seem to have few limits. When did you see a tree become 100 trees in 8 years?

    Just my thoughts.
     
  9. So Zuckerberg made $20 Billion? He is the exception to the rule where small businesses like his grow into large businesses. Small businesses are like small traders 95% fail. So you have to give Zuckerberg credit. Few small businesses succeed to be profitable long term. Most are broke within 5 years.

    One in 100,000 business owners hit the jackpot like FB or MSFT or AAPL for whatever business reasons. I have run small businesses and I can testify how hard it is to succeed even when all factors point to business success. So, no 1 in 100,000 big successes does not defy the laws of physics.

    Here is a quote from D and B from May 2011:

    “ …Small businesses and entrepreneurs are driving innovation and job creation in today's recovering economy. In the U.S., there are over 23 million small businesses that employ nearly 81 million workers and produce annual sales in excess of $6 trillion. Small businesses, however, still face many challenges including the continued housing market slump, wavering consumer confidence and slow job growth across all business segments. There has been some increase in the number of small businesses in the U.S. and growth among small business industries. Despite these positive trends, small business failure rates have increased by 40% from 2007 to 2010.”

    http://www.dnbgov.com/pdf/DNB_SMB_Report_May2011.pdf
     
  10. nkhoi

    nkhoi Moderator

    Sean Parker one of early FB founder finished HS only.
     
    #10     May 19, 2012