My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
When rich people claim money doesn't make you happy, they're being hypocritical - if money is truly useless for happiness, they should be willing to give it away
The Reasoning
Revealed preference theory - people's actions reveal their true beliefs better than their words. Rich people keep their money despite claiming it doesn't matter, proving they actually value it highly
What Needs to Be True
- Rich people genuinely believe their own statements about money
- Money has zero utility for happiness at high levels
- Rich people aren't motivated by status or security
Counterargument
Rich people may keep money for security, legacy, or philanthropic purposes rather than personal happiness
What Would Change This View
Rich people consistently giving away wealth above their stated happiness threshold without being asked
Implications for Builders
Don't buy into anti-money narratives from wealthy people
Focus on wealth building as legitimate happiness strategy
Challenge hypocrisy in messaging around money and success
Example Application
“When a wealthy investor tells entrepreneurs that money isn't important, ask them to invest their personal wealth at below-market returns if money truly doesn't matter to them”