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The privilege of risk

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Re: The privilege of risk

#51

Post by WalterBright »

dvt wrote: post #7

Risk becomes a vehicle by which privilege reinforces itself – only the privileged can take risks and only risk is rewarded. This is patently untrue. My parents emigrated to the States in 1997 (from the post-Communist Romania) with two briefcases, two kids, and $2,000 -- hardly privileged. After their Visas expired, we technically had illegal immigrant status (after a few thousand dollars in lawyer fees and many years…

I also know immigrants who came to the US with little more than a suitcase and became millionaires. Non-wealthy people start businesses and succeed at them all the time.

Re: The privilege of risk

#52

Post by bobbygoodlatte »

hkmurakami wrote: post #27

>deification of risk This is the crux of the problem, and the sooner we can get away from this, the better off we will be. Risk is fine. Take it if it makes sense for you. But don't glorify it and don't worship it.

Agreed. I think Silicon Valley has an unhealthy culture of driving folks towards taking un-necessary risk. We glorify "hustling" non-stop, and overlook how destructive that advice can be to individuals

Re: The privilege of risk

#53

Post by WalterBright »

frgtpsswrdlame wrote: post #11
dvt wrote: post #7

Risk becomes a vehicle by which privilege reinforces itself – only the privileged can take risks and only risk is rewarded. This is patently untrue. My parents emigrated to the States in 1997 (from the post-Communist Romania) with two briefcases, two kids, and $2,000 -- hardly privileged. After their Visas expired, we technically had illegal immigrant status (after a few thousand dollars in lawyer fees and many years…

>Obviously, I don't have the same kind of opportunities as a rich trust-fund kid from Manhattan. But I'll be damned if I don't try. I recently quit my cozy six-figure job in ad-tech to try and bring some of my ideas to fruition. Will I fail? The odds are stacked against me -- I've failed before and failing sucks. The purpose of life is not wallowing in self-pity, but rising above the adversity. I leave you with this…

Having a $1M house doesn't make one a millionaire; it might come with an $800,000 mortgage, and the net would be $200,000.

Re: The privilege of risk

#54

Post by tempYeez »

Tomminn wrote: post #3

I remember talking to a friend, who was stressed about the risk in her next career move, and I said: "Realistically, the worst case scenario is that you have to move back in with your parents for a while, and I'm pretty sure they'd be stoked to have you back." And she just burst out laughing. Because it had never occurred to her that that is exactly the limit of how much it was possible for her to materially suffer.

Yeh I think this is exact point. Your friend didn't even understand the amount of privilege middle america has that they could move back home or have a parent pay for rent. My parent couldn't even afford a plane ticket back home little less moving back into a 3brd apartment that already has 5 people. If a poor person or immigrant fails you could easily become homeless. If a middle american fails you get 3 meals a day on a couch.

Re: The privilege of risk

#55

Post by tempYeez »

colemannugent wrote: post #4

Risk becomes a vehicle by which privilege reinforces itself – only the privileged can take risks and only risk is rewarded. Which is not to say we should all be cautious and people or institutions should never venture to do unusual things. I agree with what the author is trying to say here, but disagree with the second part of the first sentence. Everyone can take risks, and risk is not the only factor that determine…

You're thinking too big. Imagine failing, and what your choices would be. If you'd have a guaranteed home then you're ahead of some. I've known people in SV who lived in trailers who want to become entrepreneurs and can't really go home.

Re: The privilege of risk

#56

Post by Terr_ »

ballenf wrote: post #36

I've always puzzled at Jesus' parable of the talents: > ‘Master, you delivered to me two talents; here, I have made two talents more.’ 23 His master said to him, ‘Well done, good and faithful servant. You have been faithful over a little; I will set you over much. Enter into the joy of your master.’ 24 He also who had received the one talent came forward, saying, ‘Master, I knew you to be a hard man, reaping where yo…

The most charitable interpretation I can think of (as an agnostic) is that the servant who took no risks with their investment is like a person who avoids chances to do good because they are afraid to "lose" under the existing system of Jewish religious rules.

An example of this is in the parable of the Good Samaritan, where ostensibly-virtuous people ignore the victim, because to intervene would make them ritually-unclean. Another case would be where Jesus seems unafraid to mingle with beggars and prostitutes, to the confusion and consternation of other religious figures at the time.

From a modern standpoint, we do not have many of those rules drilled into us, so the "risk of having a net increase in sin" simply isn't on our radar. For example, if someone is drowning we think nothing about which hand we use to pull that person from the water.

Re: The privilege of risk

#57

Post by maxsilver »

WalterBright wrote: post #53
frgtpsswrdlame wrote: post #11

Earlier quoted context omitted.

>Obviously, I don't have the same kind of opportunities as a rich trust-fund kid from Manhattan. But I'll be damned if I don't try. I recently quit my cozy six-figure job in ad-tech to try and bring some of my ideas to fruition. Will I fail? The odds are stacked against me -- I've failed before and failing sucks. The purpose of life is not wallowing in self-pity, but rising above the adversity. I leave you with this…

Having a $1M house doesn't make one a millionaire; it might come with an $800,000 mortgage, and the net would be $200,000.

> Having a $1M house doesn't make one a millionaire; it might come with an $800,000 mortgage,

Sure, but being able to swing a $800k mortgage is almost the same thing. You'd need an income of roughly $200k/yr, which would put you well above the top 10% of incomes nationwide.

Re: The privilege of risk

#58

Post by batiudrami »

maccard wrote: post #34
Tomminn wrote: post #3

I remember talking to a friend, who was stressed about the risk in her next career move, and I said: "Realistically, the worst case scenario is that you have to move back in with your parents for a while, and I'm pretty sure they'd be stoked to have you back." And she just burst out laughing. Because it had never occurred to her that that is exactly the limit of how much it was possible for her to materially suffer.

I feel like you're totally missing the point here. Not everyone can move back in with their parents for a while, I certainly can't. Despite earning an above average salary (nothing in comparison to bay area) in the UK, I still couldn't afford to just drop my job, and take a year to try and earn some money, I'd starve to death.

I think you're both making the same point :)

Re: The privilege of risk

#59

Post by dvt »

maccard wrote: post #37
dvt wrote: post #7

Risk becomes a vehicle by which privilege reinforces itself – only the privileged can take risks and only risk is rewarded. This is patently untrue. My parents emigrated to the States in 1997 (from the post-Communist Romania) with two briefcases, two kids, and $2,000 -- hardly privileged. After their Visas expired, we technically had illegal immigrant status (after a few thousand dollars in lawyer fees and many years…

> Investing $10,000 and 6 months of your life in a startup is not ruin-inducing Can I just point out that it's not ruin inducing if you have a 100+k job and parents who live in a 1mm+ dollar house. Losing 10k and quitting my job for 6 months in the process would be pretty much ruin inducing for me right now. I don't have the option to go back and live with my parents for a while, and of course, it depends on your def…

> Not everyone earns 6 figures and can save up 10k to gamble on a venture, and to assume that everyone can is incredibly entitled.

Maybe you can point out where I made that assumption.

My post wasn't even about my risks, but rather my parents'. Obviously risk should be mitigated. My point was this: hey look at these underprivileged people that barely spoke English and had no rights that came over to the US with two kids and no money. In two decades and with a lot of hard work, pain, setback, prayer, and tears, they built a life for themselves.

Their kids were deeply affected and are also trying to push boundaries in their own way. For my dad, the risk was was moving to the US. For me, the risk is starting my own company. What is your risk? As they say: you can't win unless you play.

Re: The privilege of risk

#60

Post by dvt »

soulbadguy wrote: post #48
dvt wrote: post #7

Risk becomes a vehicle by which privilege reinforces itself – only the privileged can take risks and only risk is rewarded. This is patently untrue. My parents emigrated to the States in 1997 (from the post-Communist Romania) with two briefcases, two kids, and $2,000 -- hardly privileged. After their Visas expired, we technically had illegal immigrant status (after a few thousand dollars in lawyer fees and many years…

You seems to be mixing a lot of perspective to arrive at your conclusion. Let's try to unpack them one by one : > This is patently untrue. My parents emigrated to the States in 1997 (from the post-Communist Romania) with two briefcases, two kids, and $2,000 -- hardly privileged. Compared to whom ? the average american in 1997 or the average Romanian in 1997 ? I am pretty sure compared to the average romanian your par…

> As an immigrant myself, i am not sure what definition of risk you are using to call immigrating from Romania to the US a risk.

Leaving everything behind to move to a new culture when you barely speak any English and bringing your young family with you is not a risk? I vehemently reject this premise.

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