I think status (https://news.ycombinator.com/item?id=35400562 https://news.ycombinator.com/item?id=35400562 ) is a bigger deal than personal risk. Status lessen

I think status (https://news.ycombinator.com/item?id=35400562 https://news.ycombinator.com/item?id=35400562 ) is a bigger deal than personal risk. Status lessens personal risk, by getting buy-in from others. This can work even with poor people who have connections and status within their community. Status not only gets buy-in from others for business operations, but gets buy in from customers, which is required for any business to survive and thrive. I've had Adam Neumann, in particular, in mind while reading this thread. He famously had multiple shots. Some of these may have been while just a child of the upper middle class, but his most recent big ones were because of his connection to status within the upper class. It's kind of like the failing upward of executives of broken companies. Once you get past a certain level of status it's really, really hard to lose it all so much that you can't get buy in from others. https://www.theatlantic.com/magazine/archive/2020/11/wework-reeves-wiedeman-billion-dollar-loser/616477/ https://www.theatlantic.com/magazine/archive/2020/11/wework-... > What distinguished Neumann, along with his ambition, was “his connection to capital,” Wiedeman writes. Neumann had married Rebekah Paltrow, a wealthy cousin of Gwyneth Paltrow and a kabbalah devotee. She invested part of a $1 million nest egg in WeWork and introduced her husband to Manhattan’s Kabbalah Centre, where he met other well-off backers.