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The people making currently making money off meme stocks doesn't equate to 20% of the country. And there's no direct evidence that those people are getting 'ric
by whoknew1122 6y ago
The people making currently making money off meme stocks doesn't equate to 20% of the country. And there's no direct evidence that those people are getting 'rich.' Outside of the few whales that are profiting off the (somehow?) legal pump and dump scheme that is WallStreetBets.
Rich is having a high networth. It's a lot more dependent on what social class in which you were raised (and therefore what networks you can access, and what role models you have) than your IQ.*
My IQ puts me easily in the 95th precentile of tested individuals, but I grew up poor to two alcoholic high-school dropouts.
On the other hand, I have a friend who grew up with CEO father who sits on boards of major public companies. This friend spent college (at a lower-to-mid tier school) as a D1 athlete pounding beers while dealing and using massive amounts of cocaine. This friend will tell you I'm the smartest person he's ever met. He's said it to multiple of his contacts while in my presence.
He pulls in hundreds of thousands of dollars a month due to his daddy's connections, while I scratched and clawed my way to rise above my station and get hired by a FAANG.
*This is completely ignoring that IQ is based off an extremely biased, standardized test and a horrible proxy for intelligence.
- paulpauper 6y agodo you think you would have gotten the fang job if your IQ were only 100. IQ, although far from prefect, is highly predictive of ability. Sure, not all high IQ people become coders, almost all coders are high IQ.
- whoknew1122 6y agoYes, I could've with enough persistence. 100 IQ is average. With enough work, someone with an average intelligence can be a successful coder.