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0 pointscosmodisk6y ago0 comments

I often think that if I were a billionaire,I'd rather spend hundreds of millions on some cool R&D projects rather than having some 100 meter boat that one uses a only a few times a year. I could at least walk around in 20 or so years and say "I funded this" rather than pointing at a rusting boat nobody will ever care about.

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9 comments · 3 top-level

est316y ago· 2 in thread

Paul Allen had both:

https://en.wikipedia.org/wiki/Octopus_(yacht)

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

https://www.cs.washington.edu/building

In fact this tradition of rich people founding universities and research is nothing new. Stanford University was founded by a couple who said "The children of California shall be our children" after their child died. Andrew Carnegie founded the Carnegie Technical Schools, and John Harvard donated money and his library to a college founded two years earlier.

sytelus6y ago

Allen donated about $2 billion to charitable causes [1] when he was alive. This included several whimsical stuff that wasn't research like Experience Music Project and Museum of Science Fiction. Relatively I believe he spent far more on luxuries he liked including world's most expensive yatch(es), fleet of private jets, mensions around the world, private music concerts, few sports teams here and there.

[1] https://www.philanthropy.com/article/Paul-Allen-s-2-Billion-...

ryanmercer6y ago

> This included several whimsical stuff that wasn't research like Experience Music Project and Museum of Science Fiction.

While not research, those things can have profound impacts on people. Several years ago a Star Wars exhibit came to the Indiana State Museum here in Indianapolis, they had an entire section dedicated to both the prosthetic devices in the film and in real life, one of the video segments playing next to some props from the film and real prosthetic devices was a clip of one of the inventors of the real technology talking about how watching the film version directly led to him pursuing his career and working directly on various prosthetic devices trying to make it a reality.

These sorts of experiences could have profound impact on the creative process for one or more individuals that might have far more profound effects for society than active research.

chrshawkes6y ago· 2 in thread

In many cases people will be more interested in your boat rather than a bunch of startups nobody's ever heard of.

newsbinator6y ago

... unless one of those startups cures a/some cancer, heart disease, Parkinson's, Alzheimer's or ALS or something.

If I were a billionaire, that's exclusively where I'd be putting my money, selfishly.

keypusher6y ago

That’s a strange sentiment for thread on OpenAI, considering it is one of many startups founded a guy who decided to take the millions from his sale of PayPal and do cool R&D projects like spaceships, electric cars, solar power, AI, and brain-machine interfaces. Good thing Elon Musk didn’t buy a boat I guess.

johnvanommen6y ago· 2 in thread

> I often think that if I were a billionaire,I'd rather spend hundreds of millions on some cool R&D projects rather than having some 100 meter boat that one uses a only a few times a year.

Billionaires buy cars and boats because they're stores of value. For instance, a Mclaren from the 90s is worth more today than when it was sold.

simonh6y ago

Sports cars and boats cost a fortune to maintain. They're terrible financial vehicles.

TheSpiceIsLife6y ago

This article is more than five years old, so I'll let it speak for itself:

This shows that in the 12 months to the end of June the value of classic cars as a whole was up by 28%, which compared with a rise of 12% for the FTSE-100 index of leading shares and a 23% slump in the price of gold.

https://www.theguardian.com/business/2013/sep/07/luxury-inve...

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