I would recommend reading "How to get rich" by Felix Dennis. He had a sense of a humour, but was quite wise too.
He's also a really good poet.
How to get rich without getting lucky
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Re: How to get rich without getting lucky
#12Earlier quoted context omitted.
Honestly, I think that's true for a lot of VCs. They have to sound like they are smart and know the secrets of the industry so that entrepreneurs reach out to them (and many times on extremely skewed terms). But truth be told, a lot of VCs have been incredibly lucky with 1-2 bets they've made. Just a couple days ago was an article on front page of HN by Sam Altman about how to run a company, whereas he himself has ha…
Not all VCs are created equal. We work for quite a few of them and the range of knowledge, connections, personalities, founder friendliness and ethics is quite broad. As a result of that there are VCs that you really don't want to have anything to do with and VCs that it is a pleasure to work with and that go to bat for the founders of the portfolio companies they've invested in with great regularity.
I don’t have experience to say beyond seed stage, but at seed stage, especially given the explosion in funds, this is most definitely true. Even as a YC startup, VC interactions I’ve had have ranged from “I could give two shits about you” to “I’m a mensch even when I have to say no”. Founders remember who belongs in what camp and talk to each other about such things a lot.
Re: How to get rich without getting lucky
#13I know very few people that got rich without getting lucky and none of them would have been rich if they had followed this list. The majority of them simply went into finance, consulting or real estate at a young age and invested their income smartly (retrospectively!). After the first million rolls in if you're young enough compound returns will take care of the rest if you can postpone altering your life-style.
But one important part of their success was to invest their income. I know too many people that use their money to consume. Investing early in your life is what makes the difference. It's very easy to spend it on little things and claim to not have anything to invest.
Re: How to get rich without getting lucky
#14”If you secretly despise wealth, it will elude you.”
How to be a Silicon Valley thought leader: talk like a Catholic’s handbook but replace “God’s mercy” with “wealth”.
Re: How to get rich without getting lucky
#15I disagree with everything that guy says and as of two months ago I am a millionaire before I turn 30.
Pessimism is what keeps you from following the herd of lemmings over the cliff.
Re: How to get rich without getting lucky
#16op forgot the "have rich parents","go to an elite school", "be born in a rich country" and some others similar to these.
This article was "how to get rich without getting lucky", of course those things weren't in it.
Re: How to get rich without getting lucky
#17”If you secretly despise wealth, it will elude you.” How to be a Silicon Valley thought leader: talk like a Catholic’s handbook but replace “God’s mercy” with “wealth”.
I despise money and I have more than I know what to do with. When the only bargaining chip for a company is one you don't value much negotiations become interesting.
I'd rather sit in a dark room and masturbate. Since I can't do that and still have food I have to work. Since it takes so long to not look like I crawled out of the sewer I need to work full time. Since I have to work full time and apparently I have valuable skills (other than masturbating) they have to pay me ridiculous amounts of money to keep me interested.
The people who are passionate about their work sound like they are convincing themselves very hard why getting paid so little is good for them. This includes pretty much all 'founders' I've known.
Re: How to get rich without getting lucky
#18I disagree with everything that guy says and as of two months ago I am a millionaire before I turn 30. Pessimism is what keeps you from following the herd of lemmings over the cliff.
can you elaborate on what you disagree about?
Re: How to get rich without getting lucky
#19Re: How to get rich without getting lucky
#20op forgot the "have rich parents","go to an elite school", "be born in a rich country" and some others similar to these.
This article was "how to get rich without getting lucky", of course those things weren't in it.
That is the premise behind those points and the ones raised by the op: Luck is never part of the equation, just ask your average rich guy from rich families.