This is about finance, not about start-ups. Yes, there's overlap, but it's different. But even if we agree to your point (and I bet PG would agree that there's

This is about finance, not about start-ups. Yes, there's overlap, but it's different. But even if we agree to your point (and I bet PG would agree that there's an element of luck), the pie fallacy is still there. People ought to be able to flip a coin to try to generate wealth. "If wealth was the inevitable result of hard work and enterprise, every woman in Africa would be a millionaire. " Puh-leez. If wealth was the inevitable result of hard work, I'd be out-performed by every jock I went to high school with. HN readers aren't relying on work-ethic, we're relying on our minds. We learned how to study independently and apply what we've learned.