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Agreed to an extent. I think Bill Gates deserves some credit for his success. Just look to the number of failures in Silicon Valley with huge startup money and
by eggy 10y ago
Agreed to an extent. I think Bill Gates deserves some credit for his success. Just look to the number of failures in Silicon Valley with huge startup money and well-educated youth; it doesn't guarantee success.
I remember seeing an article in a NYC newspaper in the late 70s or early 80s that followed up on the first winners of Lotto in the State. The majority of them spent it on cars, fur coats, hookers, booze, drugs and other things, went into debt and didn't escape their former poverty. Some wound up in jail.
I grew up in poverty, and my father upon reading it remarked, 'Money is worthless to somebody who doesn't understand the value of a buck.' Very true in my experience, as I have aged and observed.
I couldn't find the original article from I believe the Daily News or Post, but here's one from the The Atlantic along the same lines: http://www.theatlantic.com/national/archive/2012/03/terribly-sad-true-stories-lotto-winners/329903/ http://www.theatlantic.com/national/archive/2012/03/terribly...
- TheOtherHobbes 10y agoThat's because when you grow up with money you either have so much that you can do all the usual things and you won't run out, or you already have an investment machine in place for you. Lottery winners certainly don't have the latter, and often don't have the former either. They may think $1 million makes them rich, but it really doesn't. Money is as much about training and education as anything else. It's a lot easier to handle if you get that training and education than if you don't.
- rbanffy 10y agoConsider we only know about him because he didn't fail. He deserves some credit but people brighter than him had less financial success regardless of their initial wealth.