The article does have a point though, definitely more common for people with a good buffer to start startups.
Entrepreneurs don’t have a special gene for risk, they come from rich families
61–70 of 81 posts
Re: Entrepreneurs don’t have a special gene for risk, they come from rich families
#62Earlier quoted context omitted.
I agree we shouldn’t create a culture of excuses but at the same time you have to notice that most successful founders come from wealthy backgrounds and the rest seem to be immigrants (who might be wealthy as well?). The average HN poster lives in a Silicon Valley bubble and doesn’t realize this.
I am one of those immigrants who were “wealthy”, which meant my family was able to save money for years to afford my plane ticket to the USA. When I came here I was one of the poorest kids at school. Stop making excuses.
Strawman. No one is making excuses, we are explaining the massive and very uncomfortable inequalities that no one seems to bring up around here. The fact that this article is so highly upvoted but has such disdain in the comments tells me there are a lot of silent folks out there who understand what is going on.
Re: Entrepreneurs don’t have a special gene for risk, they come from rich families
#63This is just more of the pervasive attitude of grievance and blame gaming we have these days. Yes, some entrepreneurs come from rich families. But many more are for example, the immigrants that come here and have no choice but to become an entrepreneur to support their families. Entrepreneurs are everywhere. They are running pop ups at the flea market. They cook your food in the restaurants. There's a +billion entrep…
If your definition of "entrepreneur" is "people doing what it takes to stay alive" then literally everyone is an entrepreneur and the term has lost any particular meaning.
I would take entrepreneur to mean "an individual who undertakes an unusually risky venture in order to have access to exceptional personal gains" and from that perspective it seems almost axiomatic that people who start with more capital have less downside risk, which in turn makes it easier to be an entrepreneur, so more of them will do it and with more success than the relatively less-resourced. What part of that do you disagree with, if any?
> Stop letting idiots build imaginary barriers to your life outcome. Just go find a way and do it.
Just buy enough tickets and you're guaranteed to win the lottery! How hard could it be?
Re: Entrepreneurs don’t have a special gene for risk, they come from rich families
#64Earlier quoted context omitted.
This is an awful take. From experience, being “wealthy” in a third world country translated to being on one of the lowest brackets of poverty here in the USA.
but if you're earning "a lot" in 3rd world country, then you probably have e.g skills and with skills it'll be easier for you to transfer yourself and you aren't going to start from the bottom
Re: Entrepreneurs don’t have a special gene for risk, they come from rich families
#65It is simple. 1. Some people take risk because they CAN and probably what they have seen from their family/parents (a.k.a rich/privilege). It is the cool thing to do. 2. Some people take risk because they WANT to regardless of their family situation (I am in this category). I just cannot see myself working in a job. 3. Some people take risk because they HAVE to. They have nothing else going on for them and doing thei…
There are also some simple facts about growing up poor. Even giving a poor person a lot of money does not put them in the same boat as someone who grew up around the mentality of "money as a tool" instead of "money as a scarce resource." There are biological differences [1] to growing up poor vs wealthy. Those differences are often compounded by poor nutrition which leads to poor health and other real impairments [2] including learning impairment and unwise decision making.
Within your three categories, 1 and 2 look awfully similar to my eyes. There is a luxury of time, knowledge and choice implied. 3 is a wildcard for great success or great failure often decided by luck. Great failure might mean homelessness or even death. Smartly, many people in category 3 opt for life and an underpaying 9-5 (or several of them) rather than rolling those dice.
[1] https://www.sciencealert.com/being-poor-not-only-affects-you... [2] https://pubmed.ncbi.nlm.nih.gov/10946800/
Re: Entrepreneurs don’t have a special gene for risk, they come from rich families
#66This is such a horrible take I am not going to give the article a click. I know two successful entrepreneurs who come from a situation of struggle in third world countries. Also my girlfriend, who grew up in poverty in Pennsylvania, and now is on her third stable business. We are creating a culture of excuses for anybody who fails at chasing their dreams or doesn’t even have the motivation to do so; the equivalent of…
You seem to be implying that it's a moral failing of some kind to NOT be an entrepreneur - am I reading you right? As though failing at a risky undertaking - or not bothering in the first place - is something that needs to be excused?
Re: Entrepreneurs don’t have a special gene for risk, they come from rich families
#67Earlier quoted context omitted.
1) You’re probably not rich in the sense of generational wealth. 99% of people aren’t. 2) There’s no aspect of luck in your success? If you had gotten sick, would you be where you are now? If the company that hired you had gone with another candidate, would you be where you are now? Did a friend refer you to your job? If you had been born in a different time or a different country, would you have the same opportuniti…
> You’re probably not rich in the sense of generational wealth. 99% of people aren’t The majority of people who start new businesses do not have generational wealth. In fact, those who achieve generational wealth often turn into investors who collaborate with entrepreneurs. > If the company that hired you had gone for another candidate, would you be where are now? There were half a dozen other offers waiting. Looking…
Re: Entrepreneurs don’t have a special gene for risk, they come from rich families
#68Re: Entrepreneurs don’t have a special gene for risk, they come from rich families
#69It is simple. 1. Some people take risk because they CAN and probably what they have seen from their family/parents (a.k.a rich/privilege). It is the cool thing to do. 2. Some people take risk because they WANT to regardless of their family situation (I am in this category). I just cannot see myself working in a job. 3. Some people take risk because they HAVE to. They have nothing else going on for them and doing thei…
Each daily opportunity, for engaging with others, trying challenges and implementing entrepreneurial activities is a chance to move every so slightly in the direction of success. If you accumulate enough of these, and in the positive direction, you will achieve you success target.
However, each of these activities, offers the chance for a negative outcome, ever so slight in the negative direction. A random walk, just by the simple nature of life, can easily line up in front of you a series of negative outcomes that will push you too much into the opposite direction, or simply just to far from your intended target.
So you will run out of time, opportunities, capital, stamina, luck, space or creativity. In other words, and as somebody said: The multiple ways in which some are successful, are just one of many infinite ways in which other can be unsuccessful. You just have to encounter an enough number of negative events.
For a better society successful parties should promote true understanding of many reasons why one can be "successful".
"Life’s winners think success was earned even if it was down to luck"
https://www.newscientist.com/article/2210263-lifes-winners-t...
"Bucca’s team explored the subject by creating a version of President that involved almost no skill, and in which the influence of the starting conditions could be dialled up or down. They recruited about 1000 people through a website, Amazon Mechanical Turk, giving people $2.50 for taking part and a $5.00 bonus if they won.
Whoever was randomly picked to play the first card in round one of the game always had an advantage that meant they were most likely to win that round. In some versions, this starting advantage was further boosted: after the cards had been dealt for round two, the winner of round one was able to swap one or two of their weakest cards with the strongest ones of their opponent. In other versions, the opposite happened: the starting advantage was weakened by the previous loser getting good cards from the winner."
"At the end of their game, people were asked if it had been fair. Regardless of the conditions, winners were more likely to say yes than losers. Even when the winners benefited from receiving either one or two strong cards from their opponent, they were twice as likely to judge it a fair game as the losers. What’s more, in most versions of the game winners were more likely than losers to attribute success in the game to talent – even though the game required very little."
"It’s not just how the game is played, it’s whether you win or lose"