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It often happens that those parents in addition to $1m also "lend" a vast amount of knowledge of how certain social structures and systems work, and how to oper
by jedmeyers 10y ago
It often happens that those parents in addition to $1m also "lend" a vast amount of knowledge of how certain social structures and systems work, and how to operate efficiently within them. They also can serve as a "trust provider", which is a great thing to have when executing business transactions.
If given the opportunity to choose between those things and the money, I would take the "inside knowledge" every time. So even if (for some reason) you decide to limit the amount of money parents can "lend" to their children, it still won't solve the issue of disparity.
p.s. You think Elizabeth Holmes of Theranos got to where she was couple of years ago (before the fiasco unfolded) just because her father, a former Enron employee, gave her some money?
- CJefferson 10y agoThat sounds like an interesting experiment. My parents provided neither money, nor knowledge on social structures. Personally, I'd take the money. I can learn social structures, I can't "learn" a giant pile of bootstrap money.
- Swizec 10y ago> Personally, I'd take the money. I can learn social structures, I can't "learn" a giant pile of bootstrap money. But if you already know the social structures, you don't need to learn the pile of money. You can just go ask for it!
- int_19h 10y agoIt very much depends on the society in question. The value of social capital has a different price tag in cash (in a sense of how much real value you can derive by leveraging it) in different places.