Author Topic: The thinking process behind gaining $5 Billion  (Read 2379 times)

Fields of Gold

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The thinking process behind gaining $5 Billion
« on: March 05, 2020, 03:58:31 PM »
Edited to clarify:

Imagine you immediately came into a fortune today.  After ALL taxes/liabilities are paid, the balance in your account is in excess of $5 Billion US Dollars.

The thoughts that run through the mind of what could be done with that amount of wealth!  The thinking process of having $5B could have value, even though right now most don't have $5 billion yet.  Perhaps the process could reveal inner needs and find a way to try to meet that need with a much lower net worth.

For example, if a family has low net worth now but with the $5 billion would have another child or adopt.  Maybe this family expansion could be afforded now with low wealth by moving to a lower cost home, etc.

Thoughts?
« Last Edit: March 05, 2020, 09:57:31 PM by Fields of Gold »

fell-like-rain

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #1 on: March 05, 2020, 04:19:01 PM »
If I had five billion dollars, Id run as a Democrat in 2024 and bribe 200 voters in American Samoa with $1mil each to vote for me, just so I can say I outperformed Bloomberg. And Id probably have a solid gold toilet, too.

But that doesnt mean I should strive to achieve those goals in the reality we live in.

PDXTabs

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #2 on: March 05, 2020, 04:30:34 PM »
Does that mean right now, without the $5B wealth, that one could find a way to expand the family with the current income?

Yea, probably.

Roland of Gilead

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #3 on: March 05, 2020, 04:42:30 PM »
If I had $5 Billion, I would put $4,999,990,000 in a saving account and YOLO $10,000 in the stock market.

GuitarStv

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #4 on: March 05, 2020, 04:45:19 PM »
Imagine you immediately came into a fortune today.  After ALL taxes/liabilities are paid, the balance in your account is in excess of $5 Billion US Dollars.

The thoughts that run through the mind of what could be done with that amount of wealth!  Not necessarily asking what you would buy/do. But could this thinking process of having $5B have value right now (without the $5B)?

For example, if your small family is on a budget now, but with the $5B would have another child or adopt orphaned siblings. Does that mean right now, without the $5B wealth, that one could find a way to expand the family with the current income?


There's honestly nothing in my life that I need to spend more money on.  I'd keep two million, and give the rest to charities and causes I believe in.  That kind of money isn't going to make me happy, but would likely cause complications and problems that I just don't want to deal with.

use2betrix

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #5 on: March 05, 2020, 05:08:37 PM »
I would give a lot to responsible friends, family, and charities. I would keep a significant amount as there are a lot of places Id want to live, vacations Id want to do, and *gasp* quite a few toys that I would buy. I would absolutely buy my dream Porsche, some snowmobiles, amongst other things.

The very first thing I would do is give my parents enough so they can retire. They arent far off (and in their early 60s) but Id like to be able to do that. I just called my mom this afternoon and told her for her birthday in a couple months Im getting her and my dad plane tickets to meet us for a long weekend vacation, as well as a nice AirBnB for the trip. I did the same thing for my Dads birthday in 2018. Im very fortunate that I am able to do that now, but Id like to do it even more.

TomTX

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #6 on: March 05, 2020, 05:17:39 PM »
I'm going to get in the next funding round for SpaceX, then spend most of my efforts on lobbying for clean air, clean water, clean energy and heavy enforcement against polluters.

Slow2FIRE

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #7 on: March 05, 2020, 07:34:33 PM »
I'd spend it all pursuing SLAPP lawsuits against companies/ people that do SLAPP lawsuits against average citizens in defense of crappy practices or products.

Fields of Gold

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #8 on: March 05, 2020, 08:28:35 PM »
With $5 Billion, one could may want to campaign for U.S. President if at least 35 years old and other Constitutional requirements (have lived in the US the last 14 years).   The thinking behind this could be the desire to govern.  Now, without $5 Billion, one could still fulfill part of that desire by volunteering on a citizen's commission or serving on a board, etc if not running for elected office. 

With $5 Billion, one could choose to purchase one professional sports teams in order to influence utilization of athletes and play calling.  Alternatively, without the $5 Billion, one could be a coach for your child's little league team.     

MrThatsDifferent

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Re: The thinking process behind gaining $5 Billion
« Reply #9 on: March 06, 2020, 01:08:29 AM »
Ohhhhh, $5B? Id finally be able to afford those foldable phones.

ROF Expat

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Re: The thinking process behind gaining $5 Billion
« Reply #10 on: March 06, 2020, 02:07:51 AM »
I like to tell myself that I'd be another Chuck Feeney. 

If you aren't familiar with him, I encourage you to look him up.  He earned more than 5 Billion in his lifetime and gave literally almost everything away.  I gather he is still alive and living frugally on a couple of million he kept for himself.  He kept his donations secret for many years. 
 


2sk22

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #11 on: March 06, 2020, 02:15:40 AM »
I'm going to get in the next funding round for SpaceX, then spend most of my efforts on lobbying for clean air, clean water, clean energy and heavy enforcement against polluters.

I like your list. I'd invest in high voltage DC transmission lines, grid scale battery storage, wide-spread adoption of permaculture, improved rainwater storage and reforestation.

Dicey

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Re: The thinking process behind gaining $5 Billion
« Reply #12 on: March 06, 2020, 05:21:43 AM »
I like to tell myself that I'd be another Chuck Feeney. 

If you aren't familiar with him, I encourage you to look him up.  He earned more than 5 Billion in his lifetime and gave literally almost everything away.  I gather he is still alive and living frugally on a couple of million he kept for himself.  He kept his donations secret for many years.
Wow! Here's a very interesting rabbit hole. Thanks for the mention, @ROF Expat. What a fascinating guy!

https://en.wikipedia.org/wiki/Chuck_Feeney

partgypsy

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Re: The thinking process behind gaining $5 Billion
« Reply #13 on: March 06, 2020, 05:45:58 AM »
I think I'd get into real estate. Maybe buy Greenland.

ChickenStash

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Re: The thinking process behind gaining $5 Billion
« Reply #14 on: March 06, 2020, 05:52:44 AM »
I'd put the first 4.5B towards hookers and blow. The rest I'd just waste.

partgypsy

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Re: The thinking process behind gaining $5 Billion
« Reply #15 on: March 06, 2020, 06:20:26 AM »
I like to tell myself that I'd be another Chuck Feeney. 

If you aren't familiar with him, I encourage you to look him up.  He earned more than 5 Billion in his lifetime and gave literally almost everything away.  I gather he is still alive and living frugally on a couple of million he kept for himself.  He kept his donations secret for many years.

Wow. That's amazing, and extremely admirable. Considering how he lived and what he did with his money he should be in the mmm hall of fame. 

Laura33

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Re: The thinking process behind gaining $5 Billion
« Reply #16 on: March 06, 2020, 06:45:52 AM »
I would bribe my way to the front of the line for this:  https://jalopnik.com/the-koenigsegg-gemara-is-a-1-700-hp-warp-speed-machine-1842059661.

Then I would probably atone by throwing a lot of money at alternative energy development.  Or advanced tech -- that's DH's current work focus, and for that kind of money, he could start his own program and run it the way he wants.

I do like the analysis, though.  I think "what would you do if money weren't an issue" is a pretty powerful question.  Because the reality is that most of us would go buy Stuff of some variety or another, or travel the world for a year or two, but at some point we'd find that Stuff and Travel isn't satisfying in and of itself, and we need to have a purpose and contribute.  (I would hope Mustachians would be a little further along this path than most, of course)  So the question really is:  what would you like your life to look like when you no longer need to support yourself and after you got over that first flush of excess?

DadJokes

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Re: The thinking process behind gaining $5 Billion
« Reply #17 on: March 06, 2020, 06:57:56 AM »
If you put the $5 billion in the market, you could set up 20,000 scholarships that pay out $10,000 every year using 4% withdrawal.

That'd be pretty cool. I'd probably keep about $10 million though.

Raenia

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Re: The thinking process behind gaining $5 Billion
« Reply #18 on: March 06, 2020, 07:23:18 AM »
If money were no object, the two things I've thought about wanting to do in the science world are:
1. Create a Journal of Negative Results to publish research that found no effect/no correlation.  Currently there is a massive bias in published research toward finding a correlation.  No one wants to publish "Study finds moderate chocolate consumption has no impact on heart disease" or "Lung cancer rates not affected by vegan/vegetarian/paleo diet."
2. Provide funding for replication studies.  In theory, the scientific consensus is achieved when multiple labs try the same test and get the same results.  In practice, there's no glory in confirming someone else's groundbreaking study.  This can result in common acceptance of flawed or biased results, until eventually someone trying to build on the accepted theory doesn't get the expected results and is able to refute the original study.

Unfortunately, neither of these things is something I could get started on without the massive funding.

On the personal side, I would want to:
3. Buy a property with a good amount of land for homesteading (5-ish acres would probably do nicely.  Bonus points for extra land for sustainable timber harvesting to support DH's woodworking hobby) - this is ultimately our plan for early retirement, but not feasible while working
4. Pay off my sister's student loans - not feasible while working toward our own retirement
5. Ensure both my parents and in-laws have comfortable retirements waiting when they're ready - I believe they'll all be ok without our help, but if they ever do need us we'll be there
6. Produce offspring (ideally 2) - we're on the way to being in a good position for this, and actively working toward it

Beyond that, probably donating toward climate change mitigation and sustainable clean water and energy for the developing world.  We currently donate to a few organizations each year, and I have a monthly donation toward Partners in Health, but we could do a lot more with more wealth.

partgypsy

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Re: The thinking process behind gaining $5 Billion
« Reply #19 on: March 06, 2020, 07:56:42 AM »
If money were no object, the two things I've thought about wanting to do in the science world are:
1. Create a Journal of Negative Results to publish research that found no effect/no correlation.  Currently there is a massive bias in published research toward finding a correlation.  No one wants to publish "Study finds moderate chocolate consumption has no impact on heart disease" or "Lung cancer rates not affected by vegan/vegetarian/paleo diet."
2. Provide funding for replication studies.  In theory, the scientific consensus is achieved when multiple labs try the same test and get the same results.  In practice, there's no glory in confirming someone else's groundbreaking study.  This can result in common acceptance of flawed or biased results, until eventually someone trying to build on the accepted theory doesn't get the expected results and is able to refute the original study.

Unfortunately, neither of these things is something I could get started on without the massive funding.

On the personal side, I would want to:
3. Buy a property with a good amount of land for homesteading (5-ish acres would probably do nicely.  Bonus points for extra land for sustainable timber harvesting to support DH's woodworking hobby) - this is ultimately our plan for early retirement, but not feasible while working
4. Pay off my sister's student loans - not feasible while working toward our own retirement
5. Ensure both my parents and in-laws have comfortable retirements waiting when they're ready - I believe they'll all be ok without our help, but if they ever do need us we'll be there
6. Produce offspring (ideally 2) - we're on the way to being in a good position for this, and actively working toward it

Beyond that, probably donating toward climate change mitigation and sustainable clean water and energy for the developing world.  We currently donate to a few organizations each year, and I have a monthly donation toward Partners in Health, but we could do a lot more with more wealth.

There is recognition of negative or null results of research studies. Towards that end for the last few years most any clinical trials have to be registered into clinicaltrials.org before data collection. When you register you have to enter what your primary and secondary analyses are. And, when the study is completed you need to upload the results in clinicaltrials.gov. Getting funding is dependent on completing this process.  So you don't need to spend the money. You just need to look at the final reports of studies in that database, and related databases in other countries. (Maybe you should pay me for the tip : )).

As far as the replication goes, yes, there is no fame or money in replicating other people's results. But most researchers do build on past research even if it is not an exact replication thus testing the theory or hypothesis. I don't know if there is one answer to this, but I do like the trend that journals require more reporting of actual materials, procedures as well as effect size (both so that someone else can try to replicate, as well as perform meta analysis). The Journal of Experimental Psychology does publish replication as well as non-replication of published work (though obviously the chance of publication depends on the importance of the finding or non-finding). Providing funding for replication studies would help.

If I had 5 billion, yeah I would want to think big, primarily by trying to help protect existing ecosystems, plants animals. Unfortunately many of those ecosystems are in other countries or international waters. Like, I couldn't buy the Amazon even if I wanted to.  The problem is that throwing money at it only does so much. We need to change people's value system. I'm a little stumped.
« Last Edit: March 06, 2020, 08:01:34 AM by partgypsy »

partgypsy

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Re: The thinking process behind gaining $5 Billion
« Reply #20 on: March 06, 2020, 08:09:09 AM »
I would bribe my way to the front of the line for this:  https://jalopnik.com/the-koenigsegg-gemara-is-a-1-700-hp-warp-speed-machine-1842059661.

Then I would probably atone by throwing a lot of money at alternative energy development.  Or advanced tech -- that's DH's current work focus, and for that kind of money, he could start his own program and run it the way he wants.

I do like the analysis, though.  I think "what would you do if money weren't an issue" is a pretty powerful question.  Because the reality is that most of us would go buy Stuff of some variety or another, or travel the world for a year or two, but at some point we'd find that Stuff and Travel isn't satisfying in and of itself, and we need to have a purpose and contribute.  (I would hope Mustachians would be a little further along this path than most, of course)  So the question really is:  what would you like your life to look like when you no longer need to support yourself and after you got over that first flush of excess?

This is hilarious (I'm not a car person). Around Valentine's day I ask the guy I casually see (who is a car person) if there is something that he would like, and he said something to the effect, "yeah this car, but it costs a million." I thought he was joking (about a million dollar car) but no.

Raenia

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Re: The thinking process behind gaining $5 Billion
« Reply #21 on: March 06, 2020, 08:32:13 AM »
If money were no object, the two things I've thought about wanting to do in the science world are:
1. Create a Journal of Negative Results to publish research that found no effect/no correlation.  Currently there is a massive bias in published research toward finding a correlation.  No one wants to publish "Study finds moderate chocolate consumption has no impact on heart disease" or "Lung cancer rates not affected by vegan/vegetarian/paleo diet."
2. Provide funding for replication studies.  In theory, the scientific consensus is achieved when multiple labs try the same test and get the same results.  In practice, there's no glory in confirming someone else's groundbreaking study.  This can result in common acceptance of flawed or biased results, until eventually someone trying to build on the accepted theory doesn't get the expected results and is able to refute the original study.

Unfortunately, neither of these things is something I could get started on without the massive funding.

There is recognition of negative or null results of research studies. Towards that end for the last few years most any clinical trials have to be registered into clinicaltrials.org before data collection. When you register you have to enter what your primary and secondary analyses are. And, when the study is completed you need to upload the results in clinicaltrials.gov. Getting funding is dependent on completing this process.  So you don't need to spend the money. You just need to look at the final reports of studies in that database, and related databases in other countries. (Maybe you should pay me for the tip : )).

As far as the replication goes, yes, there is no fame or money in replicating other people's results. But most researchers do build on past research even if it is not an exact replication thus testing the theory or hypothesis. I don't know if there is one answer to this, but I do like the trend that journals require more reporting of actual materials, procedures as well as effect size (both so that someone else can try to replicate, as well as perform meta analysis). The Journal of Experimental Psychology does publish replication as well as non-replication of published work (though obviously the chance of publication depends on the importance of the finding or non-finding). Providing funding for replication studies would help.

If I had 5 billion, yeah I would want to think big, primarily by trying to help protect existing ecosystems, plants animals. Unfortunately many of those ecosystems are in other countries or international waters. Like, I couldn't buy the Amazon even if I wanted to.  The problem is that throwing money at it only does so much. We need to change people's value system. I'm a little stumped.

Yes, there are some places for null results to be publicized, but that applies only to clinical trials, i.e. only the medical field.  I want to publish null results in other fields as well.  For instance, protein A was found to interact with protein B in a screening test, but further studies show they are not expressed in the same cell types, therefore the interaction is a fluke and not biologically relevant.  Oyster spawning rates appear unaffected by water pH within the range x-y.  Computer modeling suggests material G is not a good candidate for H use.  That sort of thing.  At least as of a few years ago when I was still in academia, it was almost impossible to get these "failed experiments" published.  You just had to keep going until you got a "success."

Also, funding basic research generally.  There's so much we don't know about how life on earth functions, but most of the money is geared toward late stage medical research or tech development, or things that are immediately commercializable.  The lab I worked in had two main projects and one collaboration going - 1) Trying to work out a small piece of the puzzle of cellular Ca+ regulation, 2) Trying to use manufactured protein segments to form a hydrogel for use as a wound protectant, and 3) Working with a protein that has an extremely sweet taste to find out which segment interacts with the tongue's receptors.  Guess which one was the pet project with no funding?

((I'm sure you're familiar with this issue already, just venting!))

On the replication front, the main goal would be to replicate on larger sample sizes and in the case of many human psychology/survey type studies, on more diverse samples (i.e. not college students :P).  Many effects that are found in small studies vanish when tested against larger and more diverse samples.

Protecting ecosystems is definitely a difficult one.  Lobbying for government protection may often be the most effective per dollar, but that depends on friendly and stable governments.  Things like cleaning up the plastic in the ocean and reforestation efforts can help, but don't seem to be enough.  Big projects like protecting the Amazon can easily get to the point where 5B doesn't look like that much money any more.  I'd have to do a lot more research on environmental science to get a handle on any particular effort.

BudgetSlasher

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Re: The thinking process behind gaining $5 Billion
« Reply #22 on: March 06, 2020, 08:35:58 AM »
  The thinking process of having $5B could have value, even though right now most don't have $5 billion yet.  Perhaps the process could reveal inner needs and find a way to try to meet that need with a much lower net worth.

Yes and no.

Yes: Knowing your want and needs today gives you something to work towards and shape your planning. If imanging a large sum of money helps free the thinker from the constraints they put on themselves, then yes it is helpful.

For myself, I do not think the a large sum of money is needed in trying to envision my desires for the future.

No: 5 Billion dollars blows well past the "I can take a risk on a new venture", through "I can take some time off of work", beyond "I can pay off all of my debt and retire" to "I can establish 500 trusts funds that pay out 300,000 a year at 3% WR (5,000,000,000/(300000/.03)), just sit on 150,000,000 a year for myself at a 3% WR (5,000,000,000*.03) or combine the two and have a really nice life and setup a trust fund each year that pays out six figures."

To me using the number 5 billion doesn't make me think, maybe I can work part time, change careers (with or without additional education), move to a different region or country, assemble a nice hobby workshop, or take some time off and build a home with my own two hands; all things I have day dreamed about in the last year (in various degrees of seriousness) without being prompted by a large lump sum. Instead 5 billion throws me straight into the world of pure fantasy and "because I can"; things like golden visa programs, giving those closest to me the opportunity to pursue other interests as well, buy huge swaths of land, absurd budgets for travel.

If I were to run such a thought experiment with a cash value, I would likely either use a sum that is somewhere between 5 years of living expenses and enough to retire with similar to current living expense.

partgypsy

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Re: The thinking process behind gaining $5 Billion
« Reply #23 on: March 06, 2020, 09:50:15 AM »
yes 5 billion is not a useful sum to me. Because in addition to be a benefit, it is also a burden (how to be a responsible steward). Instead what is helpful to me is sometimes, what would I do if money were no object? What would I be doing with my time? And how can I do that or work towards that given my existing situation or limitations?

mm1970

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Re: The thinking process behind gaining $5 Billion
« Reply #24 on: March 06, 2020, 10:26:17 AM »
I would buy a bigger house in my neighborhood.  No hurry.  But it wouldn't take $5B for that.  Maybe only $5M.

I'd set up a lot of college funds and scholarships.

Photograph 51

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Re: The thinking process behind gaining $5 Billion
« Reply #25 on: March 06, 2020, 11:13:05 AM »
Buy a property with a large amount of acreage so I could grow a lot of food.  Then set up a foundation to be able to give large sums to worthy projects.  And I would do everything I could to hide my wealth.

partgypsy

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Re: The thinking process behind gaining $5 Billion
« Reply #26 on: March 06, 2020, 11:35:22 AM »
If money were no object, the two things I've thought about wanting to do in the science world are:
1. Create a Journal of Negative Results to publish research that found no effect/no correlation.  Currently there is a massive bias in published research toward finding a correlation.  No one wants to publish "Study finds moderate chocolate consumption has no impact on heart disease" or "Lung cancer rates not affected by vegan/vegetarian/paleo diet."
2. Provide funding for replication studies.  In theory, the scientific consensus is achieved when multiple labs try the same test and get the same results.  In practice, there's no glory in confirming someone else's groundbreaking study.  This can result in common acceptance of flawed or biased results, until eventually someone trying to build on the accepted theory doesn't get the expected results and is able to refute the original study.

Unfortunately, neither of these things is something I could get started on without the massive funding.

There is recognition of negative or null results of research studies. Towards that end for the last few years most any clinical trials have to be registered into clinicaltrials.org before data collection. When you register you have to enter what your primary and secondary analyses are. And, when the study is completed you need to upload the results in clinicaltrials.gov. Getting funding is dependent on completing this process.  So you don't need to spend the money. You just need to look at the final reports of studies in that database, and related databases in other countries. (Maybe you should pay me for the tip : )).

As far as the replication goes, yes, there is no fame or money in replicating other people's results. But most researchers do build on past research even if it is not an exact replication thus testing the theory or hypothesis. I don't know if there is one answer to this, but I do like the trend that journals require more reporting of actual materials, procedures as well as effect size (both so that someone else can try to replicate, as well as perform meta analysis). The Journal of Experimental Psychology does publish replication as well as non-replication of published work (though obviously the chance of publication depends on the importance of the finding or non-finding). Providing funding for replication studies would help.

If I had 5 billion, yeah I would want to think big, primarily by trying to help protect existing ecosystems, plants animals. Unfortunately many of those ecosystems are in other countries or international waters. Like, I couldn't buy the Amazon even if I wanted to.  The problem is that throwing money at it only does so much. We need to change people's value system. I'm a little stumped.

Yes, there are some places for null results to be publicized, but that applies only to clinical trials, i.e. only the medical field.  I want to publish null results in other fields as well.  For instance, protein A was found to interact with protein B in a screening test, but further studies show they are not expressed in the same cell types, therefore the interaction is a fluke and not biologically relevant.  Oyster spawning rates appear unaffected by water pH within the range x-y.  Computer modeling suggests material G is not a good candidate for H use.  That sort of thing.  At least as of a few years ago when I was still in academia, it was almost impossible to get these "failed experiments" published.  You just had to keep going until you got a "success."

Also, funding basic research generally.  There's so much we don't know about how life on earth functions, but most of the money is geared toward late stage medical research or tech development, or things that are immediately commercializable.  The lab I worked in had two main projects and one collaboration going - 1) Trying to work out a small piece of the puzzle of cellular Ca+ regulation, 2) Trying to use manufactured protein segments to form a hydrogel for use as a wound protectant, and 3) Working with a protein that has an extremely sweet taste to find out which segment interacts with the tongue's receptors.  Guess which one was the pet project with no funding?

((I'm sure you're familiar with this issue already, just venting!))

On the replication front, the main goal would be to replicate on larger sample sizes and in the case of many human psychology/survey type studies, on more diverse samples (i.e. not college students :P).  Many effects that are found in small studies vanish when tested against larger and more diverse samples.

Protecting ecosystems is definitely a difficult one.  Lobbying for government protection may often be the most effective per dollar, but that depends on friendly and stable governments.  Things like cleaning up the plastic in the ocean and reforestation efforts can help, but don't seem to be enough.  Big projects like protecting the Amazon can easily get to the point where 5B doesn't look like that much money any more.  I'd have to do a lot more research on environmental science to get a handle on any particular effort.

I hear you. My phd, and where I started was in basic research (how does x work?). Now I work for other people, doing applied research. Don't get me wrong I like my job. But do feel the more interesting abstract questions, even if they don't have an immediate application, are still worth studying. 

Arbitrage

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Re: The thinking process behind gaining $5 Billion
« Reply #27 on: March 09, 2020, 01:57:51 PM »
Two chicks at the same time.

EliteZags

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Re: The thinking process behind gaining $5 Billion
« Reply #28 on: March 09, 2020, 04:21:12 PM »
Two chicks at the same time.

I feel blessed to have stumbled into that twice without so much as having to buy them drinks

BTDretire

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Re: The thinking process behind gaining $5 Billion
« Reply #29 on: March 09, 2020, 06:16:14 PM »
I have no interest or energy to try to build something with $5 billion.
But it would be amazing to seek out families in trouble, financial, or health wise and change there lives.
  It would be anonymously, I would not want people seeking me out.

John Galt incarnate!

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Re: Getting $5+ Billion post-tax: value in the thinking process?
« Reply #30 on: March 09, 2020, 06:24:36 PM »


But that doesnt mean I should strive to achieve those goals in the reality we live in.

I'd like to have just a measly $1billion.

But  I'd never want to do the work to acquire it.

Leisured

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Re: The thinking process behind gaining $5 Billion
« Reply #31 on: March 09, 2020, 08:42:49 PM »
My favorite charity is the Australian Fred Hollows Foundation, which cures cataracts in poor countries for a modest sum per operation. Rich countries already have a safety net, but in many poor countries, people who cannot see properly are likely to starve. $5B invested should return $200M a year, and will make a big hole in preventable blindness world wide.

If I were younger, I might buy an ocean research vessel, and have my own cabin, so I can accompany the ship on its journeys and projects.

Jack0Life

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Re: The thinking process behind gaining $5 Billion
« Reply #32 on: March 09, 2020, 08:55:33 PM »
Why stop at an imaginary $5 Billions ??
Nothing less than $20 Billions if we were to talk about some absurd amount of money.

julia

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Re: The thinking process behind gaining $5 Billion
« Reply #33 on: March 11, 2020, 06:35:51 AM »
5 Bil is probably not enough but I'd buy out major grocery chains and refuse to supply animal products, forcing most of the population to face climate change. Don't kill me.

DadJokes

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Re: The thinking process behind gaining $5 Billion
« Reply #34 on: March 11, 2020, 07:27:00 AM »
5 Bil is probably not enough but I'd buy out major grocery chains and refuse to supply animal products, forcing most of the population to face climate change. Don't kill me.

All that would do is open up the market for additional entrants, while your chains would lose money rapidly.

24andfrugal

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Re: The thinking process behind gaining $5 Billion
« Reply #35 on: March 11, 2020, 07:58:16 AM »
Interesting thought experiment, though I do agree that having such a sum comes with the pressure to be a responsible steward - both internally, for one's own conscience, and externally, since people know you have the money. It's a problem I'd be willing to take on, though ;)

First I think I'd figure out exactly how much money I needed to never have to worry about money again, and then I'd double or triple that just to be safe - which wouldn't even scratch the surface of this $5B. I'd buy the 2-3 houses I want (which should, all 3, barely crack $1M...maybe $1.5M). I'd work part-time, maybe 20 hours a week. I'd make sure my family (especially older family) got the very best healthcare imaginable. I'd knock out some debt for those closest to me. I'd give myself a monthly allowance to buy all the small things I want on a regular basis - steak, fish, $30 tubes of makeup, etc. I would probably go back to school at some point, since I miss that environment. I'd go on mission trips. I'd travel a lot more.

And then....the possibilities are endless. I'd spend a lot of time thinking deeply about what I really care most about and developing a strategy to donate, set up funds, etc. for those causes. Stewarding that money and overseeing its uses, ROI, etc. would probably be a part-time job's worth of work.

I might buy something - a grocery store, a sports team, something of the kind - but I'm not sure. I don't have any desire for really nice cars, big houses in HCOL areas, etc...but maybe I'd feel differently if those purchases were within my financial means?

spartana

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Re: The thinking process behind gaining $5 Billion
« Reply #36 on: March 11, 2020, 05:00:58 PM »
Buy ALL the toilet paper!

OK ok I'd give about 99% to charity. As someone who happily and comfortably lives on less then $20k/year I can't imagine I'd ever do anything with that much money.