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The key to getting rich and staying rich is figuring out how to risk other people's money. If you want to buy millions of lottery tickets, or launch a startup,
by onion2k 4y ago
The key to getting rich and staying rich is figuring out how to risk other people's money. If you want to buy millions of lottery tickets, or launch a startup, or start a poker career, or anything really, it's far better to do it without risking your own security. Let other people invest in your venture for a reasonable return if you succeed, but also make sure you some non-trivial amount of equity for yourself so you make a killing if it's wildly successful.
This is how most VC backed unicorns have worked. The early investors made a lot, but the founders who mostly only risked their time, energy, and opportunity-costed salary made far, far, far better returns.