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Generational wealth is way overstated. Steve jobs didn’t have generational wealth. Airbnb was funded by selling obama branded cereal.
by prestigious 5y ago
Generational wealth is way overstated. Steve jobs didn’t have generational wealth. Airbnb was funded by selling obama branded cereal.
- JKCalhoun 5y agoYes, we can point to exceptions.
- asteroidbelt 5y agoInherited wealth is rather an exception: https://www.cnbc.com/2019/09/26/majority-of-the-worlds-richest-people-are-self-made-says-new-report.html https://www.cnbc.com/2019/09/26/majority-of-the-worlds-riche... Of course, rich kid will not end up like poor kid, but they will be much less rich than their parents.
- nec4b 5y agoWhat exceptions? Don't you have any restaurants or dry cleaners or any other small businesses around where you live which were started by poor immigrants?
- KSteffensen 5y agoThat seems like a strange comparison. Apple and my local kebab shop are not businesses in the same league and never will be.
- nec4b 5y agoI hope you don't think only a multi billion dollar companies count as success. The point is: a lot of poor people start businesses all the time and a lot of them end up successful.
- oblio 5y ago> The point is: a lot of poor people start businesses all the time and a lot of them end up successful What's "a lot". My bet is on the majority failing, and by that, I mean, going bankrupt before even breaking even.
- nec4b 5y agoI don't know. A lot more than there are companies like Apple or Google. Don't you see how many small businesses are around you when walking down a random street. Anyway why does it even matter? If only 49% of them succeeded which is less than majority, would that mean poor people cannot become successful entrepreneurs?
- KSteffensen 5y agoI would not count working 12+ hours per day 7 days a week, while barely making each months rent as success. As far as I can tell that's the reality for most non-franchise stores, small restaurants, etc.
- deleted 5y ago[deleted]