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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

#31

Post by slzuok »

> As Gladwell points out, it’s often only possible for poor kids like me to reach their potential when we have a champion who can not only show us the way but help carry us there.

This is just how simple it is.

And the ones that get help are not the ones that need it, which leads to bad results. VCs are not interested in funding poor people, whatever their abilities or vision.

VCs invest in Stanford grads, where 90%+ of the students are from well off backgrounds (look it up). Why? So if something goes wrong they can say to their LPs "It's not my fault, they went to Stanford!"

A young Steve Jobs would have a harder time raising money today than he did in the 70's. And he'd have a harder time than any random person who got into Stanford - where the admissions program is easily gamed by the wealthy and connected and the graduation rate is 95%.

The limited help available is all being directed at the ones that need and utilize it the least.

The upside for poor people is that being poor forces ones to grow as a person. Steve Jobs used to walk across town to eat free food at the hare krishna temple...no wealthy person could ever imagine what deep reservoirs of drive a thousand humbling experiences can create in a person. It's something you would wish for your child despite the pain required.

Re: Lost Diamonds: How our current system is failing underprivileged talent

#33

Post by germinalphrase »

ajkjk wrote: post #22

For 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…

Another way of thinking about this is the phrase: it's expensive being poor.

If you don't have the excess income to absorb these small mistakes/oversights/misfortunes then there are secondary effects (job loss, civil fines, court fees, etc.) that can destroy you financially.

Edit: butchered my phrase

Re: Lost Diamonds: How our current system is failing underprivileged talent

#34

Post by sctb »

nostromo wrote: post #5

Edit: you can disregard this comment now as the article and title are updated to the (much better) originals. It's a good story, but the title is fairly misleading. It sounds like he did "mess up" a few times. But ultimately he persevered thanks to a tenacious teacher. It seems the real message is to keep pushing forward, even if you stumble. Clicking through to the original Medium article suggests that Vox is respon…

Thanks, we've updated the link and title from http://www.vox.com/platform/amp/first-person/2016/9/27/13062....

Re: Lost Diamonds: How our current system is failing underprivileged talent

#35

Post by vlunkr »

It's also evident in this story that another challenge that faces many poor kids is a simple lack of knowledge about what career and education options are available to them. I applied for college on time because my mom made sure I did. It wasn't high on my priority list.

Re: Lost Diamonds: How our current system is failing underprivileged talent

#36

Post by harryjo »

briandear wrote: post #27

This 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?

What happens when everyone chooses the same good school?

Re: Lost Diamonds: How our current system is failing underprivileged talent

#37

Post by googletazer »

ryandrake wrote: post #26
trjordan wrote: post #3

I 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 see what you're saying, but to be the devil's advocate - someone at some point in the family of "Cartoon Republican Villain" was also a poor sob with a single shot to make it. The tragedy is that he forgot, or never knew about it.

Re: Lost Diamonds: How our current system is failing underprivileged talent

#38

Post by zo1 »

trjordan wrote: post #3

I 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…

That is all the more reason to praise and appreciate those individuals that come out ahead, despite such circumstances. But I would say it's not a reason to excuse and attribute poor performance due to difficult circumstance, which is generally the type of thing such a story/explanation is used for. And it's unfortunate that it's used for such a narrow use-case, when it could rather be used to inspire.

Re: Lost Diamonds: How our current system is failing underprivileged talent

#39

Post by zem »

germinalphrase wrote: post #33
ajkjk wrote: post #22

For 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…

Another way of thinking about this is the phrase: it's expensive being poor. If you don't have the excess income to absorb these small mistakes/oversights/misfortunes then there are secondary effects (job loss, civil fines, court fees, etc.) that can destroy you financially. Edit: butchered my phrase

"expensive being poor", you mean?

Re: Lost Diamonds: How our current system is failing underprivileged talent

#40

Post by SilasX »

nostromo wrote: post #5

Edit: you can disregard this comment now as the article and title are updated to the (much better) originals. It's a good story, but the title is fairly misleading. It sounds like he did "mess up" a few times. But ultimately he persevered thanks to a tenacious teacher. It seems the real message is to keep pushing forward, even if you stumble. Clicking through to the original Medium article suggests that Vox is respon…

... no, I think it's more important to take away that our system is keeping a lot of people at 0.1x when they could be 10x, not that a few 1.2xers could become 3xers if they really pushed it.
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