It's easy to gamble if money isn't yours. If your day to day survival depends on every dollar, then you don't have the freedom to dick around with investments.

[–] Rogue@feddit.uk 6 points 5 hours ago (1 children)

It's easy to gamble if money isn't yours.

To my knowledge Musk is gambling with his own money, not hedge fund capital or something.

If your day to day survival depends on every dollar, then you don't have the freedom to dick around with investments.

But, yes, this is correct. If you're extremely wealthy then you can keep gambling. If you fail you still have a million other chances. So you're kind of guaranteed to succeed eventually.

Whereas the common person has one chance. If they fail that's it.

[–] gamer@lemm.ee 4 points 3 hours ago

To my knowledge Musk is gambling with his own money, not hedge fund capital or something.

Well, he had to get financing from multiple banks to purchase Twitter