Who spends 10k/year on a car, that seems incredibly high. Also I'd say most people spend more than 10k/year indirectly on upgrading their health, but I'd count things like "not eating cheap food all the time" as one of those, or for example, moving to a places in less crime-ridden areas. And people rationally will spend money like that before they try experimental drugs.
Also - you can't really go buy this OTC anyway so it's not really a substitutable good.
A bit aside, I am bullish on these compounds. Tirzepatide is a discovery on the same order of magnitude as any - even potentially bigger than all the recent ML stuff. It's not even close to it's full potential. The data shows it's the only thing we have that really squashes diabetes and obesity with minimal side effects, but also has big positive effects on addiction, heart, bones, liver, brain, and immune system.
The addiction effects alone could change the world tremendously for the better if it's made easier to get and easier to ingest. I gave one of my Mounjaro shots I wasn't going to use to someone who had been trying to quit cigarettes for a decade and they were basically in tears a few days later telling me they went two full days without smoking, the first time they'd ever even gone a few hours since they were young.
> Who spends 10k/year on a car, that seems incredibly high.
You may need to recalibrate your intuition. Average payment on a new car purchase in the US is almost $9,000/year. Average used car payment is >$6,000/year. This is before taxes, insurance, gas, etc. It is common to spend $10,000/year on owning a car in the US.
The Americans who don't spend a lot of money on car-related expenses are the outliers. Despite this, the median American household still has $12,000 per year leftover after all of their ordinary expenses like paying for cars. Average Americans have high incomes, profligate spending patterns, and poor savings behavior.
The average new car buyer. The average payment on a new car is now $726 per this source (some sources have even higher numbers). That's about $8700 per year. That plus insurance, fuel, and maintenance puts you well over $10k.
If you put 200,000 miles on a $50,000 40 mpg car over 10 years, that's $50,000 for the car, $15,000 for insurance, $25,000 for gas, and almost certainly more than $10,000 for tires, maintenance and repairs.
There is a rule of thumb that the purchase price of the car is 1/3 of the cost over its lifetime. That's pretty generous in 2024 since cars now have better mileage, better reliability and cost more, but it's almost certainly more than half the cost.
You clearly don't know a lot of people who aren't wealthy. The majority of people I know couldn't spend 10k on anything except absolute necessities, let alone a car. Of those who do have vehicles, none of them spend $10k/year and if they did it would damn near break them.
Seriously, I don't mean to be rude, but god damn this is out of touch for people who are struggling.
Before you accuse someone of being out of touch, take a look at the average new car transaction price. It's now up to $47K. When you factor in loan payments, insurance, maintenance, and fuel then a huge number of people are spending $1K/month or more on their vehicles. These are literally average people, not wealthy.
They were clearly talking about the average American, not "people who are struggling". Ignoring whether or not it is wise, the majority of American households can technically afford to spend this much on a car and a large percentage do.
nwienert|1 year ago
Also - you can't really go buy this OTC anyway so it's not really a substitutable good.
A bit aside, I am bullish on these compounds. Tirzepatide is a discovery on the same order of magnitude as any - even potentially bigger than all the recent ML stuff. It's not even close to it's full potential. The data shows it's the only thing we have that really squashes diabetes and obesity with minimal side effects, but also has big positive effects on addiction, heart, bones, liver, brain, and immune system.
The addiction effects alone could change the world tremendously for the better if it's made easier to get and easier to ingest. I gave one of my Mounjaro shots I wasn't going to use to someone who had been trying to quit cigarettes for a decade and they were basically in tears a few days later telling me they went two full days without smoking, the first time they'd ever even gone a few hours since they were young.
jandrewrogers|1 year ago
You may need to recalibrate your intuition. Average payment on a new car purchase in the US is almost $9,000/year. Average used car payment is >$6,000/year. This is before taxes, insurance, gas, etc. It is common to spend $10,000/year on owning a car in the US.
The Americans who don't spend a lot of money on car-related expenses are the outliers. Despite this, the median American household still has $12,000 per year leftover after all of their ordinary expenses like paying for cars. Average Americans have high incomes, profligate spending patterns, and poor savings behavior.
spicybbq|1 year ago
The average new car buyer. The average payment on a new car is now $726 per this source (some sources have even higher numbers). That's about $8700 per year. That plus insurance, fuel, and maintenance puts you well over $10k.
https://finance.yahoo.com/news/average-auto-loan-payments-ex...
bryanlarsen|1 year ago
There is a rule of thumb that the purchase price of the car is 1/3 of the cost over its lifetime. That's pretty generous in 2024 since cars now have better mileage, better reliability and cost more, but it's almost certainly more than half the cost.
That's over $10,000 a year
chrsw|1 year ago
https://www.edmunds.com/bmw/x3/2022/cost-to-own/
twojacobtwo|1 year ago
Seriously, I don't mean to be rude, but god damn this is out of touch for people who are struggling.
nradov|1 year ago
https://www.coxautoinc.com/market-insights/kbb-atp-january-2...
jandrewrogers|1 year ago
38|1 year ago
itsoktocry|1 year ago
Not sure where you get "everyone" from, but look at the average car cost, plus insurance and fuel and maintenance; $800 is nothing.
downrightmike|1 year ago