I've read countless articles like this one but for some reason, this is the first one where I felt like I personally connected with the story.
Lost Diamonds: How our current system is failing underprivileged talent
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Re: Lost Diamonds: How our current system is failing underprivileged talent
#22For a year or so I've been keeping an ad hoc record (a text file!), to the best of my ability, of all my financial losses due to personal mistakes - so, moving out of my old apartment a month late was a 1200$ mistake, and dropping and breaking my phone was a 200$ one. I'm also trying to keep track of very risky behavior that didn't become an actual financial loss: driving in NYC during the blizzard last year didn't actually lead to my car being damaged, or to requiring a tow, but the chance of one of those happening was at least substantial, probably 20-50% - so it's a financial error of a few hundred dollars, maybe, anyway (this doesn't have to be precise).
I've learned from this that I lose far more money to incidental errors than I realized. Lots of small expenses like parking tickets, breaking things, misplanning my day and paying for Lyft/Uber or other luxuries to make up for lost time, buying things I already own, etc - it all really adds up.
But a few days ago I mentioned this to a friend, and after a second of thought she just said, "well, isn't it nice that all your mistakes can just be fixed with money?"
Re: Lost Diamonds: How our current system is failing underprivileged talent
#23I wish I could remember where I read this, but I once heard it explained to me as this: It's easy to deride the journey of the rich college student: 80-hour internships at Goldman Sachs, unpaid positions in government, etc. But, the things that are done by successful people are hard, as hard as walking a tightrope. The difference is that rich students walk this tightrope over a bed of pillows. Poor students walk it o…
This is even more the case with the legal system.
Regular infractions (under-age drinking, recreational drugs, shoplifting) are minor speed bumps for kids in a middle-class family. But for a poor family, they can send people on the wrong track indefinitely.
Re: Lost Diamonds: How our current system is failing underprivileged talent
#24I benifitted from systems hat supported school choice. I hope uS governments (local, state, and federal) support the same. Active and interested parents with active and interested teacher with options to align students with the best educational solutions can only be good for students.
Re: Lost Diamonds: How our current system is failing underprivileged talent
#25I benifitted from systems hat supported school choice. I hope uS governments (local, state, and federal) support the same. Active and interested parents with active and interested teacher with options to align students with the best educational solutions can only be good for students.
Re: Lost Diamonds: How our current system is failing underprivileged talent
#26I wish I could remember where I read this, but I once heard it explained to me as this: It's easy to deride the journey of the rich college student: 80-hour internships at Goldman Sachs, unpaid positions in government, etc. But, the things that are done by successful people are hard, as hard as walking a tightrope. The difference is that rich students walk this tightrope over a bed of pillows. Poor students walk it o…
I knew someone who was so aggressively proud of their success, having founded and grown a successful business. He'd talk your ear off about how people like him were the ones adding value to society and how unsuccessful people are just lazy and don't try hard enough or don't take enough risks, or are just deadbeats, and how successful, hard working people are punished with taxes--you know, the standard soapbox speech. I mean, reading that description, he sounds like that cliche "Cartoon Republican Villain", but it really was that way!
What he wouldn't easily admit was how this successful business was his sixth try, having blown what, to me, seemed like a small fortune on each of his previous attempts. He always had a rich family to fall back on, living off of them while he dreamed up his next attempt to "add value." Finally (inevitably), one of them stuck, so obviously this is proof that he's self-made and his success was due entirely to his own "hard work".
If you grow up poor without a fallback, you pretty much have one shot, if you're even able to save up for that one. You mess up, and you're pretty much hosed. On the other hand, with an infinite money cushion, you get to keep shooting until you hit the target. What's the saying? Going from $0 to $1M is almost impossible--going from $1M to $2M is almost inevitable.
Re: Lost Diamonds: How our current system is failing underprivileged talent
#27This seems to me to be a great example of why school choice is important. Those opposed to school choice would have this kid staying in a falling school to serve their social agenda.
I get it, we should make all schools "good schools," but while we're waiting for that to happen, must the smart and motivated be the pawns?
Re: Lost Diamonds: How our current system is failing underprivileged talent
#28For a year or so I've been keeping an ad hoc record (a text file!), to the best of my ability, of all my financial losses due to personal mistakes - so, moving out of my old apartment a month late was a 1200$ mistake, and dropping and breaking my phone was a 200$ one. I'm also trying to keep track of very risky behavior that didn't become an actual financial loss: driving in NYC during the blizzard last year didn't a…
did you remind her that you were only tracking financial mistakes?
Re: Lost Diamonds: How our current system is failing underprivileged talent
#29I wish I could remember where I read this, but I once heard it explained to me as this: It's easy to deride the journey of the rich college student: 80-hour internships at Goldman Sachs, unpaid positions in government, etc. But, the things that are done by successful people are hard, as hard as walking a tightrope. The difference is that rich students walk this tightrope over a bed of pillows. Poor students walk it o…
>> What's less obvious is how nerve-wracking it is to know that there are real consequences. Danger creates stress, and stress ruins results. Paradoxically, if you know you have more than one shot, you're more likely to succeed on your first try.
I think this depends on the person. Some people work better under pressure, others not. There is a real danger of postponing, procrastination, and not taking things seriously if you have a comfortable life already.
I meet many successful people from very poor backgrounds who complain to me about their children being lazy and much less motivated than they were.
Re: Lost Diamonds: How our current system is failing underprivileged talent
#30The most important thing nobody teaches lower class people is how to work "the system."
"work hard" is the catch phrase everybody shouts from the roof tops.
It's a lot like tax filing / accounting, or hiring a lawyer for a public trial.
In the case of the lawyer, society has recognized how absolutely hopeless it would be to defend yourself in criminal court, and the law entitles every individual to an attorney. A lawyer helps you navigate the 'courts system'.
Tax filing is similar but less extreme. You can make a simple error on your taxes, or grossly overpay without an accountant. An accountant helps you navigate the 'tax system'.
Everyone with some level of wealth understands the value of a good lawyer or a good accountant.
To make it simple: when you're coming from poverty there are many important things that "you don't know that you don't know". Coming from wealth, you have the advantage of "knowing about what you don't know".