I got pennies for my thoughts now I’m rich
50 Cent ft. Eminem – Patiently Waiting
The phrase “A Penny for your thoughts” originated in the 16th Century as a way to ask someone who seems lost in thought or disengaged from the conversation to share what they are thinking. In the year 1522, Sir Thomas More wrote in “Four Last Things”: “It often happeth, that the very face sheweth the mind walking a pilgrimage, in such wise that other folk sodainly say to them a penny for your thought”.
When looked at from a higher level, the phrase itself pokes at societies valuing outside-the-box thinkers – and even placing monetary value on gaining insight. “Pennies” are paid towards thoughts that stand outside of common thinking, and 50 Cent is using the phrase to both reflect on the journey to his own success, as well as providing a snippet of advice for those looking to do the same.
The relative worth of a penny from 1522 to the present day is £6.32 and there is a difference of opinion on the number of thoughts a person has per day – ranging from 20,000 to 70,000 – with 50,000 being the widely accepted figure. If you were to get a penny’s worth from 1522 and multiply it by 50,000 you would have £316,000 per day. The reason for this is because the penny was significantly more valuable at the time the saying originated compared to the present.
50 Cent has remained relevant for the majority of the last 2 decades through his unique style of rap, acting career and numerous business ventures including Vitamin Water, SMS Audio and his own clothing line. It is a widely accepted belief that the key to wealth is through increasing the streams of income, and 50 leads by example.
Start-ups exist to challenge old ideas and methods with outside-the-box thinking and make a name for themselves whereas existing businesses need to constantly innovate in order to stay in business. In the present day, you may not gain pennies for your thoughts but rather be allowed to simply exist as a brand or a business because of increased competition.
When e-commerce giants such as Amazon and eBay emerged in the late 90s, they challenged the status quo of consumerism on a global scale. Steve Jobs once said “It’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.” Amazon and eBay challenged the millennia-old way of shopping with their online shopping platforms – which people didn’t know they wanted until they saw them in action – and this led many retailers into administration, some examples being HMV, Blockbuster, Maplin and Toys R Us.
In conclusion, ideas challenging outdated views and innovative thoughts are essential in determining the number of pennies one receives – if any – on their journey. Thoughts do not need to be different, rather they can stem off an initial idea for it to remain relevant in a constantly developing world.
How valuable have your thoughts been so far?
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