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Peloton’s former billionaire CEO says he’s lost all his money and had to sell his possessions (finance.yahoo.com)
submitted 2 months ago by return2ozma to c/upliftingnews
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[–] [email protected] 95 points 2 months ago* (last edited 2 months ago) (2 children)

(in response to him selling the family home)

"My family took it well," the 53-year-old told the New York Post. "My wife's super supportive. My kids are probably better for it, if we're keeping it real."

Just another demonstration of how the Hedonic Treadmill effect means becoming a billionaire won't meaningfully improve your life compared to the negative impact you inflict upon all of society by taking millions of dollars of worker's and consumer's value from them!

[–] [email protected] 44 points 2 months ago (1 children)

When "keeping it real" goes wrong.

[–] [email protected] 54 points 2 months ago (2 children)

His family's darkest hour is my family's wildest, most impossible dream.

Actually I don't know many people who actually dream of that kind of wealth - just enough stability and security to be able to live modestly from a life of labour and in to retirement.

[–] dohpaz42 31 points 2 months ago (1 children)

I firmly believe I could live comfortably for the rest of my life if I had $2-3 million.

[–] IMongoose 48 points 2 months ago (1 children)

I once told my boss that I could quit if I won a million dollars and lived off of 5% interest. He said no you couldn't, think about car payments, house, all expenses, $50k a year wouldn't cover that. Then I reminded him that $50k was more than I was currently making, by kind of a lot. He shut up very quickly lol.

[–] dohpaz42 15 points 2 months ago

I’m pretty sure house and car are two of the three most expensive expenses a person has. Pay them off immediately and you won’t need much else to survive.

[–] Mog_fanatic 12 points 2 months ago

For real. My dream is just to know I'm not a car accident, broken bone, random sickness, or mild rolled ankle from complete and utter financial ruin. I can't even imagine that kind of security.