I have asked this question to countless people (mostly in hair salons) as an alternative to small talk, and it always yields interesting results.
Rules:
- You get the money right now, right where you are. If it’s 10pm and you’re in the middle of nowhere, your money will still go poof at 11pm.
- As a result of the above, tell us what time it is and roughly where you are (big city, desert, small town, …)
- You must spend the money. You cannot give it to someone to hold on to it for you for a while.
- Normal world rules apply, e.g. you cannot buy a $250k car at a dealership in 1h in cash, and you cannot buy a house in 1h either.
- Remember that getting from where you are to the place you need to go takes time. Factor that in!
Edit: I’m glad you guys had fun with this one. Feel free to post similar hypothetical questions. I kinda like these.
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It is possible to buy a car in less than an hour, though I agree that you can’t buy real estate that quickly. New Yorkers might be able to pull off stocks, if the money comes to them while the NYSE is open, but I’m not in New York (or Chicago, for the Mercantile Exchange, or…)
It’s kind of a bizarre question, though. I have several small business owner friends. Could I get them to mark up a croissant to $1M, with the understanding they’ll cut me in on the revenue?
If not, then what really are the terms of the question? Arms length transactions only? How will that be adjudicated?