The Rich Are Not Who We Think They Are. and Happiness Is Not What We Think It Is(nytimes.com)

The Rich Are Not Who We Think They Are. and Happiness Is Not What We Think It Is

https://www.nytimes.com/2022/05/14/opinion/sunday/rich-happiness-big-data.html

1 comments

    >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.

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    >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.