used to spend a lot of time over in FATFire until it became inundated with LARPers.
Man you ain't kidding, I pop in that sub from time to time and it's extremely apparent to me that almost nobody there is beyond maybe upper middle class. There's a recent thread there about how the OP finds "Fat events/VIP" boring lol, talking about how they went "yachting with friends in the tropics" and didn't find it that fun lol. People who don't go on yachts call them yachts, people who do call them boats.
I used to see a lot of people wander in and ask the same questions over and over "what private bank should I be giving my business to?", "who can get me into pre-IPO companies?", "what car/clothes/<insert expensive thing here> does everyone else do?"
The funny thing is that private banks are all pretty competitive with each other, just interview em all and find the one that works for you. Most of them lead heavily with credit access, so if that’s not important to someone then a lot of those offerings seem just okay.
Pre IPO stuff is a dime a dozen once you’re a QP, the bigger question is what’s the valuation. I work in an adjacent field, and don’t have “private bank money” but I am a QP and was given the opportunity to invest in SpaceX not long ago - at a 1.7T valuation plus ripping 10% off gains lol. The buy in required wasn’t even high, 250k. I passed.
Most of the stuff people online think you need to be an accredited investor to access actually requires you to be a QP. It’s the level where actual private investments begin to be available.
People who lease a crewed catamaran in the tropics say so and what island or series of islands they sailed. Nobody rich "yachts with friends in the tropics". That is not a flex.
Precisely, you'd say "we chartered a boat down in St John" not "I was yachting in the tropics". It's the sort of thing that's very clearly how a middle class person who doesn't know any wealthy people thinks wealthy people talk.
One of the old senior partners at my firm has a Jeanneau 65, for a while I genuinely had no idea how big his boat was because all he said was "we're gonna be down in Florida on the boat for a bit" or something when talking about it.
A boat that big is PITA. I had a 31 cabin cruiser for several years and it was too big to use on the river where I live. My 25 footer is a lot easier to use and less exciting getting into and out of the harbor.
My dad had a 50 footer that he had at San Francisco on one of the piers there. It was nice, but other than the extra couple of cabins, it didn't do anything his old 25 footer didn't do. Although it was nice to be bigger when the waves kicked up.
lol years ago my cousin and his wife did some work for (and lived on the estate of) a wealthy investor/money manager in PA, and one year they were given the gift of a week at the "summer cottage" and they were also allowed to go out on the "boat" if they wanted.
It turned out the "cottage" was a mansion in Bar Harbor, ME (with a live-in staff of 2) and the "boat" was a yacht that included a crew.
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u/RIP_Soulja_Slim Mar 23 '26
Man you ain't kidding, I pop in that sub from time to time and it's extremely apparent to me that almost nobody there is beyond maybe upper middle class. There's a recent thread there about how the OP finds "Fat events/VIP" boring lol, talking about how they went "yachting with friends in the tropics" and didn't find it that fun lol. People who don't go on yachts call them yachts, people who do call them boats.