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> And 9 out of the top 10 American billionaires are self-made. Is there really such a thing as self-made? I honestly don't believe so. Otherwise, I think more

> And 9 out of the top 10 American billionaires are self-made. Is there really such a thing as self-made? I honestly don't believe so. Otherwise, I think more people would do it.

filoleg 7y ago
Disagreed. Simply said, not everyone has the chops to do it, not even mentioning luck. If that wasn't the case, we wouldn't have a demand/supply graph for software engineers in the US so screwed up, given how much pay one can get and how few credentials are required for it, especially compared to other similarly paying jobs. Not saying that those situations are perfectly comparable at all, just trying to make a point that "if it was so good and easy, why isn't everyone successfully doing it" isn't really a solid argument for this.
- throwaway55554 7y ago
  Well, to be fair, I said "more" not "everyone". Also, if it were true that people could be "self-made", we'd see a more diverse selection of "self-made" people. Instead, we see races and genders that aren't doing anywhere near as well as other races and genders.
  - filoleg 7y ago
    If you think about diversity in terms of "races and genders", then I agree with you, there could be more of that. If you think in terms of financial upbringing, we got a lot of diversity going. US has an insane turnover in terms of wealth, with a really high number of first gen millionaires and billionaires. Also note the fact that 70% of families losing wealth just a generation or two down the road[0]. Which is imo a very good thing, as it brings more evidence and support for the "self-made" theory. In terms of social upbringing, just look at the numbers of top-tier CEOs and founders who are children of immigrants or immigrants themselves[1]. 0. https://money.com/rich-families-lose-wealth/ https://money.com/rich-families-lose-wealth/ 1. https://www.cnbc.com/2018/05/30/us-tech-companies-founded-by-immigrants-or-the-children-of-immigrants.html https://www.cnbc.com/2018/05/30/us-tech-companies-founded-by...

> And 9 out of the top 10 American billionaires are self-made. Is there really such a thing as self-made? I honestly don't believe so. Otherwise, I think more people would do it.

filoleg 7y ago

Disagreed. Simply said, not everyone has the chops to do it, not even mentioning luck. If that wasn't the case, we wouldn't have a demand/supply graph for software engineers in the US so screwed up, given how much pay one can get and how few credentials are required for it, especially compared to other similarly paying jobs. Not saying that those situations are perfectly comparable at all, just trying to make a point that "if it was so good and easy, why isn't everyone successfully doing it" isn't really a solid argument for this.

throwaway55554 7y ago
Well, to be fair, I said "more" not "everyone". Also, if it were true that people could be "self-made", we'd see a more diverse selection of "self-made" people. Instead, we see races and genders that aren't doing anywhere near as well as other races and genders.
- filoleg 7y ago
  If you think about diversity in terms of "races and genders", then I agree with you, there could be more of that. If you think in terms of financial upbringing, we got a lot of diversity going. US has an insane turnover in terms of wealth, with a really high number of first gen millionaires and billionaires. Also note the fact that 70% of families losing wealth just a generation or two down the road[0]. Which is imo a very good thing, as it brings more evidence and support for the "self-made" theory. In terms of social upbringing, just look at the numbers of top-tier CEOs and founders who are children of immigrants or immigrants themselves[1]. 0. https://money.com/rich-families-lose-wealth/ https://money.com/rich-families-lose-wealth/ 1. https://www.cnbc.com/2018/05/30/us-tech-companies-founded-by-immigrants-or-the-children-of-immigrants.html https://www.cnbc.com/2018/05/30/us-tech-companies-founded-by...