It's pretty simple. The Unexotic Underclass Doesn't Have Cash. In 2007, the bottom 60% of the country had 4.2% of the country's wealth. https://en.wikipedia.org/wiki/File:U.S._Distribution_of_Weal... Frankly, it doesn't make sense to target anyone but the top 40% of the country. Roll a 20 sided die. If you roll a 1, put in the pile that goes to the bottom 60%. If you roll a 2-20, put it in the money that goes to the…
100% this. As per the laws of free market capitalism if a niche in the market is underserved the market will step up and supply to the markets demand. On Wall st where the author has worked, any market inefficiency is arbitraged away. Where there is profits to be made the market will find them. I just don't think there's any big viable markets there, it would be nice if the author could identify at least 1 product id…
The Unexotic Underclass
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Re: The Unexotic Underclass
#142Earlier quoted context omitted.
Yeah, but there are a LOT of poor people. For reference: http://en.wikipedia.org/wiki/The_Fortune_at_the_Bottom_of_th...
Total USA household wealth is somewhere around $50T, GDP $15T. Per parent post, the bottom 60% has 4.2% of wealth: that's $2.1T, or average $11,150 per person - most of which is not "disposable" (tied up in home, car, and other nonliquid essentials). Assuming same distribution for income, that's averaging $3,343 - again, most of it not "disposable" (rent, gas, food). Yes, there are a lot of them ("poor" still being a…
Re: The Unexotic Underclass
#143It's really great to see poor white people considered as people in need. (It would have been even better if the article considered poor asians, too. They're not all rich doctors.) It's a huge demographic that's desperately in need of help, but it doesn't score you any brownie points to help the "unexotic"--just as the article highlights. As a result, many languish in poverty instead of fulfilling their full potential…
Re: The Unexotic Underclass
#144This is crossposted from my comment in the MeFi discussion of this article. I don't buy that startups are just targeting rich people. It's perhaps part of it, but not all of it. They are targeting people like them, young, single childless generally white guys. I see a million dating sites, but very few sites for married people, which are still a huge chunk of the adult population. Though I seem to recall at least one…
Healthcare and legal services startups sound like a great idea.
Re: The Unexotic Underclass
#145That was epic. And this is the heart of everything: >>>It’s not rocket science: people build what they know. Cosmopolitan, well-educated young men and women in America’s big cities are rushing into startups and building for other cosmopolitan well-educated young men and women in big cities. Until you've become part of the exotic underclass -- or an over-50 perma-unemployable (tick tick tick) -- you won't see these pr…
Re: The Unexotic Underclass
#146This is a nice read. Is there any place where we can learn more about these problems? as in, a place (blog/site etc) that lists problems that are real world problems to solve, than twitter/facebook type?
If you want my opinion on the main obstacles against making the world a better place: - gentrification and separation of the rich and poor - social services being a giant wasteful bureaucracy rather than a streamlined, responsive, empowering structure - gridlock in the US legislature as far as finding real solutions, leading to lack of regulations where they should be and mis-managed and destructive overregulation in others
Everyone towards the bottom is overworked and have no leftover energy and willpower to jump through all the arbitrary hoops to improve their lot in life. Something needs to change with how wealth, free time, and the benefits of efficiency are distributed in society, or the country will go into further decline and unrest.
Re: The Unexotic Underclass
#147Those aren't technological problems.
Re: The Unexotic Underclass
#148It's really great to see poor white people considered as people in need. (It would have been even better if the article considered poor asians, too. They're not all rich doctors.) It's a huge demographic that's desperately in need of help, but it doesn't score you any brownie points to help the "unexotic"--just as the article highlights. As a result, many languish in poverty instead of fulfilling their full potential…
Poor people of all colors suffer much more from class-based discrimination. Rich people spend their money on trifles like ipads and gaming computers rather than trying to help their struggling neighbor. Maybe it has something to do with how separated we all are, that rich people probably haven't even really talked to a poor person in years, and operate based on stereotypes and contempt.
Re: The Unexotic Underclass
#149Earlier quoted context omitted.
I like this idea quite a bit, although I'm not exactly sure it would be a startup in the end because the willingness (ability?) to pay amongst the target market here must be quite low, I imagine. Just free styling here, but the way to go about it would be to bundle a sort of 'package' of tools into a couple of various tiers, from easy (low input of time/funds) to challenging (more pricey/difficult). One wrinkle is th…
How about show your fellow human beings a modicum of respect. They aren't your lab rats. Maybe if your upper-class, power-heavy minority would reevaluate all the patronizing aspects of their philanthropic efforts, poor folks wouldn't have learned helplessness from the futility of their situation, and would actually have the energy to lift themselves up. Drug dealing, crime, and prostitution are sometimes seemingly th…
I'm not interested in respecting and not-patronizing people. I'm interested in a better world and fixing the problems.
A big part of why people are poor (and/or delinquent) is, let's face it, because of how their brains work. Sure, there are lots of socio-economic factors keeping people down, but it's never an either-or issue. And I'm not saying that we should stop trying traditional poverty-bootstrapping tactics, but rather that cognitive enhancement is worth looking into also.
For instance, there was a study done in a prison that showed that fish oil can reduce violent tendencies[1]. It's also known to help with child ADHD[2].
(Actually, the interventions I have in mind would focus more around positive psychology, metacognition/mindfulness training, and applied rationality aka scientific self-help. Just using the fish oil as an example since it's well studied and is a very simple measure to take.)
Also, poor people should be happy that the "upper class" take an interest in raising them up. What do you prefer, patronizing philanthropists or corrupt elites who don't give a rat's ass as to their wellbeing at all?
[1] Influence of supplementary vitamins, minerals and essential fatty acids on the antisocial behaviour of young adult prisoners - http://bjp.rcpsych.org/content/181/1/22.full
[2] Multiple studies - http://examine.com/show_rubric_effect.php?id=2&effect=AD...
Re: The Unexotic Underclass
#150Earlier quoted context omitted.
To quote the article: "a cultural disregard for intelligence, empathy and respect" Not to say its impossible. Its just going to have to be very covert. Part of a game of some sort, but not K-12 ridiculously blatant educational game like space invaders where you have to solve an addition problem to fire the anti-missile missile (I think I actually had to play that one in school...) (Edited to add EVE Online is basical…
Acting even more patronizing towards the poor is not the answer.