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Consider this thought experiment designed to help people understand the difference between “a million” and “a billion.” You and a friend each enter a lottery with several large prizes. But there’s a catch: If you win, you must spend $50,000 of your prize money each day until it runs out. You win a million dollars. Your friend wins a billion. How long does it take each of you to spend your lottery windfall? As a millionaire, your encounter with runaway consumerism is surprisingly short. You go bust after a mere 20 days. If you win on Thanksgiving, you’re out of money more than a week before Christmas. (Sorry, Cousin Ana, the lottery money ran out before we bought your present, but we did get you the Orange Crush umbrella!) For your billionaire friend, resources would hold out a tad longer. He or she would have a full-time job spending $50,000 a day for… 55 years. Approximately two generations. Almost 14 presidential terms. One wait to hear your name called at the DMV. 1 billion—1,000,000,000—is a number.
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