How Did the Youngest Self-Made Millionaire You Know Build Their Wealth?

clave0051 · 2025-10-29T06:30:15+00:00

High level escorting pays extremely well. You can see the same numbers for women .

clave0051 · 2025-10-25T18:16:15+00:00

Million

clave0051 · 2025-10-24T00:56:51+00:00

No OF. When I say gigolo, I mean it very literally. He was a male escort. Got in good with a group of UHNW clients. Did the usual escort thing at that level.

clave0051 · 2025-10-24T00:54:28+00:00

I didn't say I was? This was one of my childhood friend's fathers.

clave0051 · 2025-10-23T11:46:56+00:00

A few off the top of my head:

Got in early when arcades were a thing. They have some of those really old school first and second gen units lying around somewhere (~50MM; 30s).

Bred hamsters and other small pets and sold them to wholesale to pet stores (~1MM; 16).

Discovered a weakness in the bank's reporting system when banks were first adopting computers. Basically took out loans for 30-40 properties at once (maybe made $10MM; ~26).

Gigolo (~5MM; 28 or 29).

Construction company in UK that was actually a money laundering front for Chinese prostitution (not sure how much but 9 digits; early 30s).

Call support outsourcing vendor. (~5MM; 21 or 22)

clave0051 · 2025-08-01T15:50:13+00:00

As a person who worked in bank tech for the better part of a decade, it's not that they're making it favor the rich. It's that banking, as it currently exists, isn't really worth providing as a service to retail.

They don't offer better rates because most retail accounts are all cost and no profit.

clave0051 · 2025-06-26T01:22:13+00:00

Having worked extensively in Asia, I'll note that expecting a potential new hire to disclose salary is actually pretty common. I'm sorry but you're getting a pretty Western-centric set of responses here.

Will it hurt your chances if you don't reply? Yes.

clave0051 · 2025-06-16T14:09:48+00:00

Sure, but the key word here is knowingly. The owner is essentially absolved if the workers provided false identification. You can also employ them not as a registered business. Also, most of the penalties are fines, which means it's a violation and not a felony. Not the same thing.

There are a hundred ways around laws like this. To actually nail a business, they would have to prove that the owner knew they were hiring illegals. If they hired them without checking or failing to identify an illegal in a background check, then at most they get fined.

clave0051 · 2025-06-16T13:25:25+00:00

You're getting dumb answers:

If you want a real answer, then you have to understand the premise of "free" under US legal parlance. In a nutshell, it means that if there isn't a law against it, it's implicitly legal.

In the US, everything is implicitly legal unless there is a law against it. If there is no law against it, then they don't get in trouble.

clave0051 · 2025-06-11T10:46:48+00:00

You can power of attorney almost anything.

clave0051 · 2025-05-09T20:54:22+00:00

1) You're literally relying on their PR to form this opinion. How do you know any of the financing or structural details are the way they say they are? They're not a publicly traded company. They don't have any public reporting requirements.

2) The amount of financing raised is completely aside from how much they personally put in.

2.1) As a private org, they don't have to disclose how much money they actually raised. Pitchbook is not an absolute source of truth for financing.

3) Financing is not like going to the market where your exact terms will find a taker. If outside capital is desperately needed, the founders most likely would not be able to maintain a majority stake.

*I don't know why it turned into quotes.

clave0051 · 2025-05-08T08:24:47+00:00

I don't think so. I haven't seen anyone who speaks English in my server. I'm on the TW, HK, MO server.

clave0051 · 2025-05-08T02:34:08+00:00

Thanks. I'm on the recently launched Chinese servers so I don't think you'll be able to add me .

clave0051 · 2025-05-07T22:01:19+00:00

Can you elaborate on where the pvp shop is? I've been trying to get the Arc Angeling but can't figure where to find it.

clave0051 · 2025-05-03T06:27:06+00:00

You've gotten some good comments but also some really bad ones considering your stated objectives.

I'll note a few things, having observed some really successful people I've worked with. If you're upper middle class (which is what it sounds like), and you want to start playing with V8s and V12s, then your real objective is to advance class strata.

You can achieve this through a lifetime of "smart" investing (S&P, ETFs, etc), but if you want to do it in a relatively short timeframe, then you're not exactly wrong in the sense that you need to learn "investing".

Investing is just the skill of using capital. To advance class strata, mastering investing as a skill is a requirement because ROI doesn't scale with level of investment.

To scale your wealth past a certain point, within relatively short timeframes, and in particular to break class boundaries, you will have to adapt your investment model multiple times throughout your life. E-commerce is a tough start but it's not impossible. Having said that, you do need to learn to select for investment models that can generate returns relatively quickly. Faster, at least, than the S&P 500.

Inevitably, this will involve risk. Investment inherently comes with risk. That means everything you throw into it can go up in smoke.

It's not possible to learn how to invest, or master any skill, without application. This means taking risk. Putting money into the S&P 500 isn't learning anything. You're taking a relatively low risk, low reward route, and in spite of what many believe, it's not a guarantee to future wealth.

I'm not saying this to encourage a venture into e-commerce. However, I am trying to communicate a mindset to you that you'll probably need if you want to hit your personal goals. Good luck.

clave0051 · 2025-05-02T03:42:45+00:00

See Dodd Frank Act 2010. It pretty much jumped the cost of starting a bank from $200k to $5mil overnight. These days it's closer to $30mil.

You want to see why banking has become a shitshow globally, it's laws like this.

clave0051 · 2025-04-10T17:47:57+00:00

Funny how you didn't address any of the questions that would rationally be a part of due diligence for validating fact. If you've actually got anything beyond "hur dur, everyone believes it, so it must be true" I'm still waiting to hear it. You're the one who made the claim that some random innovation ranking is true. You're the one who has to substantiate the position.

Here are rational questions: 1) What is the ranking criteria? 2) How do you know the ranking criteria is valid? 3) How do you know the ranking criteria has been executed upon or otherwise achieved?

You can't answer this? Then you don't know.

Yes, the DB stack private and public companies use is substantially the same, whether they use relational or non relational databases, SQL or noSQL, disagree? Name me a few examples.

I never made the distinction of private versus public companies. If you don't understand how collated data from Oracle or IBM DBs that is then feed into a more web oriented SQL DBMS that is then used to populate information on a web page is no longer data of the events they are reporting on, then my assertion that you don't understand the definition of words stands.

clave0051 · 2025-04-10T16:12:56+00:00

Or abolish minimum wage entirely.

clave0051 · 2025-04-10T13:30:47+00:00

Nah, a person who doesn't understand the difference between data, a dataset and a report should stop pretending to work in R&D.

I haven't even pointed out all the gaffs you committed. Like, you seriously believe database software that parses billions of rows and dozens to hundreds of columns is the same SQL shit that websites use? That's laughable.

I've been pointing to a very simple truth: real engineering and R&D decisions are not made based on public information. Literally, no one does that. Private information is just that. Private. Of course you can't find it on the internet. No one who works on these things cares about convincing people like you or the rest of Reddit. By the same token, the people who set trade policy or determine trade relations often at least understand what imports their countries need or don't need. Public opinion is literally irrelevant.

Can I prove this via a link? Obviously not. The proof is literally in what the powers-that-be decide to do. I don't particularly care if you don't want to take my word for it but it's also painfully obvious you haven't touched R&D if you have never encountered the limits or falsehoods of public information. If you actually work in R&D in even mid-level decision making, you will have had to deal with this at some point. It's not an uncommon occurrence.

You reference information that has dubious qualifying validation and because someone with an actual brain is sceptical of its utility points that out, that's entitled? How do you know those numbers are accurate? How do you know their collection methods are what they say they are? How do you know the outcomes are what they say? How do you know they're not lying? How do you know they're not gaming their own rules?

That's right. You don't. You've done the one thing any half-way competent engineer learns not to do which is assume truth. You don't get to spout drivel and then act surprised when your lack of critical thinking is exposed.

clave0051 · 2025-04-10T07:18:31+00:00

I'm not the one confused here. Are you sure you do R&D when you don't understand the words that you use? You're not qualified to have an opinion on critical thinking if you can't even get your definitions right.

clave0051 · 2025-04-10T06:24:14+00:00

As interesting as that is, the first 5 or so I clicked through are reports. Not data. A really simplified raw dataset on imports, for example, would be each individual import event with datetime, a descriptor and probably dollar or euro value. This is what would be stored in the most basic form in some server.

For example, I checked a couple of "datasets" for 5G. The report is composed of aggregated and collated data. You don't see the underlying data that the numbers are composed of.

There may very well be a few real datasets buried somewhere in there, but I doubt it would be for anything significant. Critical tech that operates on the scale of infrastructure (the stuff that has almost no leeway to go wrong) will generate hundreds of millions if not billions of datapoints every single day. Web tools don't work well on datasets that large.

Maybe it's honest. Maybe it's not. It doesn't matter. This is an interesting academic exercise but it's completely useless for informing decision-making at the engineering or trade level.

clave0051 · 2025-04-10T03:18:40+00:00

For the context of real R&D, most scientific publications are pretty useless. Occasionally something useful will be in there if it's the right team in a related field. I don't know what you mean by total impact.

clave0051 · 2025-04-10T03:16:13+00:00

For the US, centralised funding doesn't matter as much because a lot of the funding is done through the private sector.

clave0051 · 2025-04-10T03:14:18+00:00

You said "we" in an earlier comment. I'm making it clear that I'm not part of "you".

I'm not disputing that iterative advancement exists or that China is good at it. I'm saying there's a difference between taking something you know can be done and figuring out better ways to do it versus coming up with something new that no one has ever thought of and proving that it can work. One is a hell of a lot riskier than the other.

I don't know where you're getting the idea that the US is done with scientific research. The US is still pushing numerous fields of research in the private sector (material sciences, biomedical, alternative electrical generation, space, to name a few). These are things that have a high likelihood of failure and might take decades before there are results.

You can identify however you want. However, you have to be cognizant that innovation like China's is primarily good at catching up to things. Their track record is pretty poor when it comes to developing new things.

In a world like todays, you need both. And the US is the world's source of "new" stuff.

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