4 ms·

I agree with your synopsis. Wages are too deflated for good overall economic prospects. If I can criticize ourselves, it is with this: I think millennials ar

I agree with your synopsis. Wages are too deflated for good overall economic prospects. If I can criticize ourselves, it is with this: I think millennials are too risk-averse, not because the opportunities are out there in waiting, but because the job opportunities are so poor. There comes a point when you live in some degree of (relative) poverty at which not making a startup is dumber than making one. There seems to be two cohorts of entrepreneurs. Working class ones forced into it by desperation and upper middle class ones who see it being at worst a good contribution to their CV if they fail, with unlimited upside. The acqu-hire system attests to this as a valid strategy because paper certs have such limited signaling potential now that everybody has them. Honestly in either case it is a hard road. It is so much easier just to give up. Part of the reason I think people come here is the invigoration of seeing other minds at work.

huac 10y ago
> upper middle class ones who see [entrepeneurship] being at worst a good contribution to their CV if they fail, with unlimited upside. Bridgewater told me, and others, that they love students who do things outside of traditional finance internships. 'Go travel the world! Go start a startup! Don't do wealth management!' The attitude feels so much like that New Yorker article about traveling the world with only a backpack, phone, and a trust fund [0]. It's not just a line on your CV - it's a great story to talk about in the interview. But the opportunity cost is very high, unless you're rich enough where that doesn't matter. [0]: http://www.newyorker.com/humor/daily-shouts/why-i-quit-my-job-to-travel-the-world http://www.newyorker.com/humor/daily-shouts/why-i-quit-my-jo...