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That's just bad math... Using a mean when they should be using a median. Throw Bill Gates onto a bus and the average bus rider earns billions a year... That'
by webwright 19y ago
That's just bad math... Using a mean when they should be using a median.
Throw Bill Gates onto a bus and the average bus rider earns billions a year... That's not particularly meaningful.
"Sorry, this is another myth. Entrepreneurship creates a lot of wealth, but it is very unevenly distributed. The typical profit of an owner-managed business is $39,000 per year. Only the top ten percent of entrepreneurs earn more money than employees. And the typical entrepreneur earns less money than he otherwise would have earned working for someone else."
(from Scott Shane, the author of "The Illusions of Entrepreneurship via http://blog.guykawasaki.com/2008/01/top-ten-myths-o.html http://blog.guykawasaki.com/2008/01/top-ten-myths-o.html)
- icky 19y ago> The typical profit of an owner-managed business is $39,000 per year. Before or after the owner/manager's salary? If the owner/manager isn't paying himself a salary, then it's more of an expensive hobby than a business.
- aston 19y agoProft = money left after paying expenses, salary included.
- michaelneale 19y agoI thought you said "throw Bill Gates under a bus" and it confused me.