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> No, but he did make a million times more risky bet than the typical minimum wage worker. He took a risk in absolute monetary terms perhaps, but not risk in t
by soVeryTired 7y ago
> No, but he did make a million times more risky bet than the typical minimum wage worker.
He took a risk in absolute monetary terms perhaps, but not risk in terms of consequence. Having spent a few years being relatively high up in DE Shaw, the worst that might have happened to him if his business failed is that he'd move to a smaller house.
Contrast that situation with someone who might struggle to make rent if their business failed, and tell me who's really taking the bigger risk.
- mrep 7y agoHow would Jeff bezos be in a better situation than some small business owner if both companies failed?
- ylmm 7y agoHow would he not? Are you really arguing that someone with D.E. Shaw and Princeton on his resume would be in the same position as, in your words, a "typical minimum wage worker"? Even ignoring the signaling value of D.E. Shaw and Princeton, are you arguing that the wealth he'd accumulated in his career up till that point is comparable to that of the "typical minimum wage worker"? Then are you arguing that a hedge fund manager and a "typical minimum wage worker" face the same relative risk when they invest the same amount of money? In other words, are you saying that someone who has 110,000 dollars in savings and someone who has 11,000 dollars in savings face the same risk if they both invest 10,000 dollars?