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The startup world demonstrates there's nothing systemically restricting people from being upwardly mobile. The formula for wealth in America is simple; create
by hnal943 16y ago
The startup world demonstrates there's nothing systemically restricting people from being upwardly mobile. The formula for wealth in America is simple; create a product that people want.
The fact that creating something people want is difficult is a universal truth, not an indictment of our democracy.
- JanezStupar 16y agoWhat you're missing is that nowadays to make it you have to corner a market - thats how internets works. Not many mom and pops type business opportunities on the net.
- hnal943 16y agoI disagree that the only type of business on the internet is a google or a facebook. However, assuming they are, they were still started as the brain child of a few people who were not rich when they started. Also, both google and facebook cornered markets that didn't exist 20 years ago. Where did that market come from? No one else got wealthy because of search or social networking?
- JanezStupar 16y agoI just implied that to really make it (in context of this thread mind you), to get into top 5% of income you have to corner a market (existing or new). That means risk. East German swimmer or Chinese gymnast kind of risk. For each billionaire there are such and such number of people who "got to grow as people". In my humble opinion the swing towards egalitarianism was an anomaly in human history. Can we make this anomaly into a new status quo? Recent developments show that very unlikely.