2 ms·
It's attitude and sheer luck. People in the US seem to take more risk, this leads to huge rewards (start-ups) but also leads to an insane amount of inequality i
by Rainymood 8y ago
It's attitude and sheer luck. People in the US seem to take more risk, this leads to huge rewards (start-ups) but also leads to an insane amount of inequality in wealth. I have never seen more in-your-face wealth inequality than in America (and yes, I've been to China and Asia in general quite often). Then a second component is the sheer amount of people trying their luck. Imagine that winning in a startup is like tossing a coin with a p=1e-7 probability of landing on "win". The Netherlands has 2.000.000 people aged 20-30 and the US has 40.000.000 people aged 20-30. Imagine that all these people start a startup we have a probability of P(X>0) with n=2.000.000, p=1e-7 is given by 0.18 and the probability for P(X>0) with n=40.000.000, p=1e-7 is 0.98. The point I'm trying to make is that a lot or more people in the US try to start something, this leads to many more failures, but also to some singular huge successes.
- lawrenceyan 8y agoDoesn't the European Union have around 500 million people though in it's population? America is only like 325 million people I think.
- oblio 8y agoThose 500 million are on average quite a bit poorer than the average American (regarding disposable income and therefore the willingness to risk a long period of 0 income to start a business). Especially in the Eastern part. Mississippi (!) has higher GDP per capita than most EU countries.