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There are quite a few immediately available 'financial high-flyers' among the YC alumni. I'd venture that they've all achieved 1% status much more through intel

There are quite a few immediately available 'financial high-flyers' among the YC alumni. I'd venture that they've all achieved 1% status much more through intelligence, creativity, commitment and resourcefulness than by birthright, luck or psychopathy. This is a pretty cynical piece.

duncan_bayne 12y ago
Monbiot is a rabid anti-capitalist; see http://en.wikipedia.org/wiki/George_Monbiot#Activism http://en.wikipedia.org/wiki/George_Monbiot#Activism ... "[the climate change campaign] is a campaign not for abundance but for austerity. It is a campaign not for more freedom but for less. Strangest of all, it is a campaign not just against other people, but against ourselves." Bear in mind, he's describing something he supports, here. At least he's honest.
bootload 12y ago
"... they've all achieved 1% status much more through intelligence, creativity, commitment and resourcefulness than by birthright, luck or psychopathy ..." I don't disagree with this statement for founders being truly having the 'intelligent, creative, committed and resourceful' attributes you state but are they 100% responsible for the outcome? Are these attributes true indicators of their success? Is this misattribution bias after the fact? Follow the money. What would a 'high-flyer' breakdown look like? Would they be mostly US based (including foreign born), White/Asian, tertiary educated males? (bias acknowledgement). Did they need extra funding? How many received VC money? How did the VC choose one particular company/idea over others (by skill or luck?) How did the founders get their money? (hint: is it harder for non validated entities to raise VC money or not?) Given the high failure rate of Startups and VC investment, the article may well apply to those who supply capital.
wycx 12y ago
Go learn the difference between rent seekers and the productive.

duncan_bayne 12y ago

Monbiot is a rabid anti-capitalist; see http://en.wikipedia.org/wiki/George_Monbiot#Activism http://en.wikipedia.org/wiki/George_Monbiot#Activism ... "[the climate change campaign] is a campaign not for abundance but for austerity. It is a campaign not for more freedom but for less. Strangest of all, it is a campaign not just against other people, but against ourselves." Bear in mind, he's describing something he supports, here. At least he's honest.

bootload 12y ago

"... they've all achieved 1% status much more through intelligence, creativity, commitment and resourcefulness than by birthright, luck or psychopathy ..." I don't disagree with this statement for founders being truly having the 'intelligent, creative, committed and resourceful' attributes you state but are they 100% responsible for the outcome? Are these attributes true indicators of their success? Is this misattribution bias after the fact? Follow the money. What would a 'high-flyer' breakdown look like? Would they be mostly US based (including foreign born), White/Asian, tertiary educated males? (bias acknowledgement). Did they need extra funding? How many received VC money? How did the VC choose one particular company/idea over others (by skill or luck?) How did the founders get their money? (hint: is it harder for non validated entities to raise VC money or not?) Given the high failure rate of Startups and VC investment, the article may well apply to those who supply capital.

wycx 12y ago

Go learn the difference between rent seekers and the productive.