How a 21 year old Made $2.5 Million Online and Blew it all in a Year

Hurr-Durr

Hurr-Durr

Hurr-Durr.com <-OBEY
Aug 18, 2010
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Back when he was able to get away with sending cheap ass traffic to high paying UNTARGETED ypn ads. He couldn't do that today even with the same amount of traffic.
The first thing he fucked up with is buying the bimmer M6 brand new. I see them barely used for about 30 cents on the dollar.
 
Naah, his first mistake was that he couldn't differentiate between getting lucky and being legitimately good at the game.

Kind of like Kevin rose.
 
Rob_TID said:
Naah, his first mistake was that he couldn't differentiate between getting lucky and being legitimately good at the game.

Kind of like Kevin rose.
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True, Kevin is gambling with his money as well. He is one of the angel investors diving into startups like Squareup, zynga (lucked out on that one), foursquare etc. His future now is depending on luck. Digg has already dugg its own grave might as well say. He should sell it on flippa! :rolleyes:
 
i've seen and heard of a ton of stories like this... easy come easy go... same as those lottery winners ...
 
DaLee said:
Digg has already dugg its own grave might as well say. He should sell it on flippa! :rolleyes:
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In that last video on Ferris' blog, you could see that Rose could hardly contain his contempt when Tucker Max's name was brought up. Kid comes off as kind of a hater.
 
A friend of my old man's, made a few million, then startd being a baller. He lost everything within a few years, through spending his money, lack of diversification and resting on his laurels.

A few years later he was a millionaire again. This time he stayed with his shit car, crap house and normal life. He's now richer than he ever was.

I think losing it all is what some idiots require to truly understand they have to actually manage their money. Some just spend it as quick as they earn it by trying to show everyone they've made money and, amusingly, are currently in the process of losing it as quick as they can.
 
EricVonDoobie said:
"Powerball Ticket worth US$315 million. The jackpot won by Whittaker was the highest ever in the United States at the time and Whittaker chose the cash payment option receiving a check after taxes for about US$113.4 million."

Holy fucking fuck, is that accurate? The government takes 2/3 of his lotto cash?
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The federal government takes 35% of it right away as income tax. The state government aslo gets its share. However, to entice people to take the annuity plan they take off another 15-20% of the gross amount if you request cash. So yeah, they do. I'd rather have my lottery winnings go towards elder care then having an actual tax for it though.
 
EricVonDoobie said:
"Powerball Ticket worth US$315 million. The jackpot won by Whittaker was the highest ever in the United States at the time and Whittaker chose the cash payment option receiving a check after taxes for about US$113.4 million."

Holy fucking fuck, is that accurate? The government takes 2/3 of his lotto cash?
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NO. If you take the cash option, you receive a much lower amount- I think a little over half. But really this is supposed to be equivalent. You are choosing to take the amount of cash that would be required to purchase the annuity that would pay out the full amount over time. It's not so much enticing anyone to choose one or the other as it is cash now that is equivalent to the total amount paid over time. Taxes are high but not that high. I do feel bad about the government punishing all the hard work involved in purchasing a Lotto ticket, though.
 
JohnCJackson said:
NO. If you take the cash option, you receive a much lower amount- I think a little over half. But really this is supposed to be equivalent. You are choosing to take the amount of cash that would be required to purchase the annuity that would pay out the full amount over time. It's not so much enticing anyone to choose one or the other as it is cash now that is equivalent to the total amount paid over time. Taxes are high but not that high. I do feel bad about the government punishing all the hard work involved in purchasing a Lotto ticket, though.
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...

1. The lottery is in place to fund state & local government.

2. The amount that's taxable depends on the lottery and jurisdiction you're in.

3. The advertised jackpot is the annuity value; the cash value is lower.

FWIW someone I used to be friends with (still know) won the Powerball for $86mil, ended up getting $32mil in cash... Moved to Tennessee and no one's heard from him since.
 
I would encourage him to look at john rohns video "Avoid being broke and stupid"... here is the highlight of the clip...

"Being broke is bad, but, being stupid is what is really bad....and what is really really bad is being broke and stupid..."

For those of you who want to see the clip it can be seen here... [ame="http://www.youtube.com/watch?v=_TjXy2pJXJI&feature=channel"]YouTube - Broadcast Yourself.[/ame]
 
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