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Maybe true, but the article is pretty much replacing what you'd call "career porn" with what I'd call "persistence porn." About the kid who walked in the snow w

Maybe true, but the article is pretty much replacing what you'd call "career porn" with what I'd call "persistence porn." About the kid who walked in the snow wearing nothing but a t shirt every day to get his degree, yadda yadda.. ignore the fact that Sam Walton he had a rich stepdad who financed his businesses, that he was in a prestigious fraternity and secret society at UoM, and had a number of other benefits that are simply not available to your average hard-working chump.

adventured 9y ago
> benefits that are simply not available to your average hard-working chump What smart investor seeks out "average chumps" exactly? That's an excellent way to lose money. Your setup is a rather amusing contradiction. You think the $200,000 (Walton put in $50,000) - inflation adjusted - that his step-father put in, was unavailable to everyone else and it made all the difference in Walton's success? I grew up in an extremely poor part of the country, financing like that was available to a lot of business people. It's typically how most new small businesses that required any meaningful capital got started: other people in the community with money would invest, as banks would never risk their capital without collateral. $250,000 is about what it costs to open a small convenience store. The Ben Franklin store Walton opened and operated, was a very successful venture. His father-in-law made an extraordinarily smart investment. As it turns out, Walton wasn't an average chump.
- TheWrongGuy 9y ago
  That's all fine, and you're right: Sam Walton was talented and it was a smart investment. You've interpreted my "average hard-working chump" to mean "not a talented businessman" which is not what I meant. I just think that if you got a bunch of money from your father in law and were part of prestigious society that needs to be part of the story. If it's omitted, I have to think that the author is intentionally pushing an alternate but equally-inaccurate view of how success happens.
truedato 9y ago
Reminds me of a few arrived-with-20-dollars-in-pocket-but-am-part-of-royal-family very successful high tech folks I know. Their success was still very very hard won. But being part of royalty doesn't often make it in the most inspiring stories.

adventured 9y ago

> benefits that are simply not available to your average hard-working chump What smart investor seeks out "average chumps" exactly? That's an excellent way to lose money. Your setup is a rather amusing contradiction. You think the $200,000 (Walton put in $50,000) - inflation adjusted - that his step-father put in, was unavailable to everyone else and it made all the difference in Walton's success? I grew up in an extremely poor part of the country, financing like that was available to a lot of business people. It's typically how most new small businesses that required any meaningful capital got started: other people in the community with money would invest, as banks would never risk their capital without collateral. $250,000 is about what it costs to open a small convenience store. The Ben Franklin store Walton opened and operated, was a very successful venture. His father-in-law made an extraordinarily smart investment. As it turns out, Walton wasn't an average chump.

TheWrongGuy 9y ago
That's all fine, and you're right: Sam Walton was talented and it was a smart investment. You've interpreted my "average hard-working chump" to mean "not a talented businessman" which is not what I meant. I just think that if you got a bunch of money from your father in law and were part of prestigious society that needs to be part of the story. If it's omitted, I have to think that the author is intentionally pushing an alternate but equally-inaccurate view of how success happens.

truedato 9y ago

Reminds me of a few arrived-with-20-dollars-in-pocket-but-am-part-of-royal-family very successful high tech folks I know. Their success was still very very hard won. But being part of royalty doesn't often make it in the most inspiring stories.