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Wasn't Elon Musk very close to failing with Tesla and Space X around 2008? He claimed he suffered a nervous breakdown because of it. If he'd failed back then, w
by mettamage 6y ago
Wasn't Elon Musk very close to failing with Tesla and Space X around 2008? He claimed he suffered a nervous breakdown because of it. If he'd failed back then, we probably wouldn't be talking about it today.
Also, Bill Gates had a lot of help from his mom when he needed it most (getting an in with IBM). He had the right leverage.
I've seen people in my life that had access to the right leverage (meaning: the leverage they could use suited their personalities). In all cases they were successful. I believe strongly that when you have leverage that other people do not have access to, and knowledge on how to safely use that leverage then you'll be financially successful.
For example, I feel that a disproportiante amount of children with rich parents benefit from housing prices rising [1]. Even if rich children first start completely in debt, simply by owning a house that on average returns 10% (since it will be in a nice area) that they can later rent out is already a ticket to retirement before one starts working.
Before asking how people can become successful, simply ask yourself if they had a strong form of leverage that they were able to use effectively? If so, then you might want to reconsider that you could have done it as well.
[1] https://webcache.googleusercontent.com/search?q=cache:q8zP-Np_GDEJ:https://www.washingtonpost.com/news/wonk/wp/2016/05/10/the-incredible-impact-of-rich-parents-fighting-to-live-by-the-very-best-schools/+&cd=12&hl=en&ct=clnk&gl=nl https://webcache.googleusercontent.com/search?q=cache:q8zP-N... -- weak source I know, but I bet that it's true.