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Go start a business and see if the reality you experience agrees with your current ideology. Let's make it simple: Start a great local coffee shop wherever yo
by rebootthesystem 11y ago
Go start a business and see if the reality you experience agrees with your current ideology.
Let's make it simple: Start a great local coffee shop wherever you live. People like coffee. It's a safe business, right? You know there's demand. All you have to do is create an excellent product that is more appealing than the competition. Then go get some funding, get a loan, mortgage your home or, if you have it, dump your entire life savings into the business to fund it.
Come back in five years and read what you just wrote.
- giardini 11y agoThat is a cliche'. FWIW been there, done that, got the T-shirt. I still think Bouchaud/Mezard is onto something almost revolutionary. Bouchaud/Mezard's claims have a novel perspective but are consistent with other studies over the years. Society remains in a state of ignorance and denial of this simple idea: The rich are lucky, not skillful. A person may benefit from his/her skill, but not necessarily from his/her luck. Society should determine the partition of luck/skill in wealth, tax the luck and reward the skill. [Yes, I would tax lottery winnings very heavily, since they are nearly 100% luck!]
- maxerickson 11y agoIs your point that they are going to feel unlucky in five years? (Would it even take 5 years to go out of business?)
- rebootthesystem 11y agoA man holding a cat by the tail leans something he can learn in no other way. -Mark Twain That pretty much sums up my point.