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A poor person betting everything... a poor person usually doesn't have much, besides the time and dedication.

duchenne 7y ago
GP's point of view: A poor person can have a small safety net that separates him from absolute poverty and homelessness. If they start their own business, fail, and end up without enough money to pay for the rent, the consequences could be terrible. They also have a finite time to save enough for a descent retirement. Spending several years on a startup with a high fail rate can dramatically reduce the quality of their old days.
malux85 7y ago
There’s a big difference between poor and zero, and a poor person betting on a startup can hit zero really quick. At zero, you cannot pay rent and are likely to get evicted. Once evicted you are potentially NFA, which means you can’t get a bank card posted to you if you have problems with your card. How can you pay for food? Where can you use the bathroom? What about the electricity bill before you got evicted? The electricity bill that was late and now unpaid that’s ruining your credit score? Now you have bad credit and will find it harder getting a flat. The above sentences where not chronologically cohesive because there’s so much working against the poor and those at zero, and I’m on mobile, I couldn’t take an hour to type it all out. How on earth do you expect a poor person to do a startup, when they can barely feed themselves and keep a roof over their head?
- huffmsa 7y ago
  Same way my great-grandfather did it. He preferred the risks associated with going to America over the known outcome of staying in his little village.
  - watwut 7y ago
    Most of immigration happened during high risk dangerous and unstable times. Most immigrants were not bored of super safe and stable life where they came from. They were running away, because original place was dangerous.
    - huffmsa 7y ago
      So then you're comparing the know risks of war and famine to the unknown risks in the target country. Which for a lot of American history has been war and crop failure.
      - lotsofpulp 7y ago
        Comparing your great grandfather’s situation to a poor person today doesn’t make sense to me. Their choices, consequences, and access to information are vastly different.
        huffmsa 7y ago
        There's less risk today. If your company fails, you're in debt, but you probably won't die in a ditch. So why not jump feet first into what you want to do? To quote the eminent Shia LeBouf "It's you're life, don't let your dreams be dreams. Just do it"
        crankylinuxuser 7y ago
        Its easy to say platitudes from rich people. When there's little/no social net when you fail, failure is disastrous. I'm diabetic. I'm nearly chained to a company with a decent medical plan, since our "wonderful" country has little to impetus to fix medicine. So failing means 'not able to go to the doctor and not afford my drugs'. Failure also means 'not affording rent'. Failure also means being unemployed, and no way to get unemployment. So where being a business owner means it could free my way out of poverty, the %success rate for me absolutely must be balanced with the failure rate and the ramifications aforementioned.
        huffmsa 7y ago
        Mr LaBeouf comes from a broken home. His father has struggled with drugs and alcohol to self medicate his Vietnam War PTSD. He started performing at age 10, pretended to be his own manager to get signed with an agency. He's exactly the "live without a net" kind of guy we're talking about.
watwut 7y ago
Heathcare that was provided by employer before and house in low crime area, say.
hatmatrix 7y ago
There is opportunity cost (of a stable industry job) that the educated but poor person is foregoing.
- bluGill 7y ago
  Note that by not foregoing that opportunity cost the poor person can save up enough of a safety net for his children to take a risk. Generations are important. A poor person with a family is best not taking risks. However they can bring up enough of a safety net for their children.

GP's point of view: A poor person can have a small safety net that separates him from absolute poverty and homelessness. If they start their own business, fail, and end up without enough money to pay for the rent, the consequences could be terrible. They also have a finite time to save enough for a descent retirement. Spending several years on a startup with a high fail rate can dramatically reduce the quality of their old days.

malux85 7y ago

There’s a big difference between poor and zero, and a poor person betting on a startup can hit zero really quick. At zero, you cannot pay rent and are likely to get evicted. Once evicted you are potentially NFA, which means you can’t get a bank card posted to you if you have problems with your card. How can you pay for food? Where can you use the bathroom? What about the electricity bill before you got evicted? The electricity bill that was late and now unpaid that’s ruining your credit score? Now you have bad credit and will find it harder getting a flat. The above sentences where not chronologically cohesive because there’s so much working against the poor and those at zero, and I’m on mobile, I couldn’t take an hour to type it all out. How on earth do you expect a poor person to do a startup, when they can barely feed themselves and keep a roof over their head?

huffmsa 7y ago
Same way my great-grandfather did it. He preferred the risks associated with going to America over the known outcome of staying in his little village.
- watwut 7y ago
  Most of immigration happened during high risk dangerous and unstable times. Most immigrants were not bored of super safe and stable life where they came from. They were running away, because original place was dangerous.
  - huffmsa 7y ago
    So then you're comparing the know risks of war and famine to the unknown risks in the target country. Which for a lot of American history has been war and crop failure.
    - lotsofpulp 7y ago
      Comparing your great grandfather’s situation to a poor person today doesn’t make sense to me. Their choices, consequences, and access to information are vastly different.
      - huffmsa 7y ago
        There's less risk today. If your company fails, you're in debt, but you probably won't die in a ditch. So why not jump feet first into what you want to do? To quote the eminent Shia LeBouf "It's you're life, don't let your dreams be dreams. Just do it"
        crankylinuxuser 7y ago
        Its easy to say platitudes from rich people. When there's little/no social net when you fail, failure is disastrous. I'm diabetic. I'm nearly chained to a company with a decent medical plan, since our "wonderful" country has little to impetus to fix medicine. So failing means 'not able to go to the doctor and not afford my drugs'. Failure also means 'not affording rent'. Failure also means being unemployed, and no way to get unemployment. So where being a business owner means it could free my way out of poverty, the %success rate for me absolutely must be balanced with the failure rate and the ramifications aforementioned.
        huffmsa 7y ago
        Mr LaBeouf comes from a broken home. His father has struggled with drugs and alcohol to self medicate his Vietnam War PTSD. He started performing at age 10, pretended to be his own manager to get signed with an agency. He's exactly the "live without a net" kind of guy we're talking about.

watwut 7y ago

Heathcare that was provided by employer before and house in low crime area, say.

hatmatrix 7y ago

There is opportunity cost (of a stable industry job) that the educated but poor person is foregoing.

bluGill 7y ago
Note that by not foregoing that opportunity cost the poor person can save up enough of a safety net for his children to take a risk. Generations are important. A poor person with a family is best not taking risks. However they can bring up enough of a safety net for their children.