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> strenuous effort by these people strenuous effort by their employees or are you telling me that the average billionaire works 50000 hours a day?
by goodpoint 2y ago
> strenuous effort by these people
strenuous effort by their employees or are you telling me that the average billionaire works 50000 hours a day?
- AlexandrB 2y agoTo steelman the argument that wealth is earned, this kind of stuff tend to follow a power law. So a 10% increase in effort or talent can result in a several fold increase in wealth - especially when the effects of compounding interest are considered. This is most apparent in sports or the arts. Being just a little bit better at baseball can be the difference between a million dollar contract and being stuck in the minor leagues. Of course the question of whether we should want success to follow a power law is a different matter. As is the role of luck. Going back to the sports example, being born at the right time of year can be a huge, permanent advantage[1]. [1] https://medium.com/@connorbaldwin28/why-athletes-tend-to-be-more-successful-if-they-are-born-in-the-early-months-of-the-year-the-23f624c52416 https://medium.com/@connorbaldwin28/why-athletes-tend-to-be-...