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No. Betting is a reasonable choice when you, like a VC can bet on a ton of options and still have cash left for immediate problems. All other times, betting is
by brain5ide 7y ago
No. Betting is a reasonable choice when you, like a VC can bet on a ton of options and still have cash left for immediate problems. All other times, betting is playing your luck and bound to fail.
- hef19898 7y agoFirst, I don't want to read to much into the OP regarding betting. Because there is something to it. Without risks no rewards. Yet what constitutes a risk and a reward differ significantly based on your resources. That being said, risking some of your resources, money, time, whatever, to get out of poverty is reasonable. Betting on a start-up might not be. Simply because if it goes wrong instead of rewards there might be debt and even worse poverty.
- Retra 7y ago>Without risks no rewards. This is a fallacy. The vast majority of people are rewarded for minimizing risk, not taking it. People justify extra risk for disproportionate reward, not reward in general. You have to take risks if you want relatively unbounded returns. Getting out of poverty does not require that at all.
- brain5ide 7y agoWhen you're in poverty, getting out of poverty is about risking, but not in a lottery kind of way you're talking about. It's about risking to get away with not spending the money on some immediate emergency and holding it for some bigger emergency in the future.