Monday 15 October 2018

What is the biggest opportunity for becoming a billionaire today?

The only sure way to become a self-made billionaire today is to do the same thing that other self-made billionaires have done - create or invest in companies that can solve a lot of problems for a lot of people.
A billion dollars is a lot of money, and you have to do a lot of problem solving for a lot of people to warrant a valuation that large.
Fortunately, this is a lot easier today than it was in the past - both because businesses are easier to get off the ground, and accessing a global customer base is many times easier than it used to be. Access to information and cheap technology has certainly leveled the playing field a little bit more.
Unfortunately however, most companies will never reach a valuation anywhere close to a billion dollars.
The world is changing quite quickly and I'm willing to bet most companies that will eventually hit the billion dollar mark will be those that get the timing of their offering right, and establishes themselves as the leader in their space before bigger companies are willing to adapt to the changing world. You only need to contrast the differences between Amazon and Toys R' Us to see the importance of timing and quick adaptation.
If I had to guess, areas such as virtual / augmented reality, biotech, 3D printing, artificial intelligence, and robotics will see a huge upsurge of massively valuable companies in the next 10-20 years.
However, most billionaires would say after you hit a certain mark more money doesn't matter as much anymore, so I'd also bet that pursuing a field one enjoys working in will result in the wealth they’re looking for - even if it means having less than a billion dollars.

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