My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“anytime a rich person tells you money doesn't make you happy just ask them for their money”
What It Means
People's actions reveal their true beliefs better than their words - if money truly didn't matter, wealthy people would give it away
Why It Matters
Exposes the gap between stated beliefs and actual behavior, helping identify when advice is self-serving
When It's True
When wealthy individuals discourage others from pursuing money while hoarding their own wealth
When It's Risky
May oversimplify complex motivations for keeping wealth (security, legacy, philanthropy)
How to Apply
Challenge anti-money advice from wealthy sources
Apply revealed preference analysis to evaluate credibility
Focus on what people do rather than what they say
Example Scenario
“A wealthy entrepreneur telling young people that money isn't important while continuing to pursue profitable ventures themselves”
Related Knowledge
Dumb vs Dumbass Decision Framework
A framework distinguishing between lack of intelligence (dumb) and poor judgment despite intelligence (dumbass).
Handle public employee termination situations without legal and PR disasters
Employee termination handled with dignity, no legal exposure, minimal negative PR, company reputation protected
Revealed Preference Assessment
Evaluate people's true beliefs and priorities by observing their actions rather than listening to their stated positions
Money continues to increase happiness well beyond basic needs
Wealth accumulation is a rational happiness optimization strategy
elon's not dumb but he's a dumbass and there's a big difference
Intelligence and good judgment are separate capabilities - smart people can consistently make terrible decisions
When rich people claim money doesn't make you happy, they're being hypocritical - if money is truly
Revealed preference theory - people's actions reveal their true beliefs better than their words.