4 ms·
> Reversal of Fortune is a 2005 Showtime documentary that asks the question "What would a homeless person do if they were given $100,000?" That sounds like suc
by sedachv 10y ago
> Reversal of Fortune is a 2005 Showtime documentary that asks the question "What would a homeless person do if they were given $100,000?"
That sounds like such a great film about this issue. Ted sounds like a really hard-working recycling bum. Since Ted is employing himself, Ted is an entrepreneur.
A good thought experiment to put this into perspective is: what happens to the average employed person when they are given $100,000? Except we do not have to do a thought experiment; this scenario occurs thousands of times a year all over the world for lottery winners. The largest study of lottery winners that I know of found that receiving (average) $100,000 doubles the chances of a person going bankrupt: http://www.mitpressjournals.org/doi/abs/10.1162/REST_a_00114 http://www.mitpressjournals.org/doi/abs/10.1162/REST_a_00114
Some people who win the lottery and go bankrupt end up worse off than before winning the lottery (also worth looking at: http://brandongaille.com/22-lottery-winners-bankrupt-statistics/ http://brandongaille.com/22-lottery-winners-bankrupt-statist...). Ted, on the other hand, after spending a few months living the high life, went back to his old recycling business.
A lot of former tech entrepreneurs who gave up their dreams of running their own business (even some who went through Y Combinator!) can stand to learn a lesson from Ted's perseverance and positive attitude.