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Rich people never want to acknowledge their luck, because it doesn't fit the "self-made" narrative. edit: to please the pedants, I should have said "many rich people", as to not imply "all". My fault.
Cynical but doesn't match my experience, plenty of rich people acknowledge luck
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Rich people never want to acknowledge their luck, because it doesn't fit the "self-made" narrative. edit: to please the pedants, I should have said "many rich people", as to not imply "all". My fault.
The "luck" of many wealthy people is that they were born to wealthy parents (Walton family, Gates, etc).
Nassim Taleb again, after mere comfortability ita a long road of blackjack and 100 hour workweeks.
Maybe a bit OT: The other day I read an interview with a local guy in his 20s that struck gold with crypto, he'd invest something like $20k, and turned it into $40M. He basically went all in on one alt-coin before the marked exploded late last year, and the coin went up 2000x. When asked about it, he of course came up with a narrative that this wasn't just dumb luck. He had had worked hard for those $20k, and he had…
Maybe the real takeaway from his story is to bet big in a new market to get rich. And if you lose it all, earn more and do it again. It would have happened in the early days of the internet just the same. Yes, it's incredibly risky but at least it has a better chance than playing the lottery. Like Nassim Taleb says, bet on things with a limited downside and unlimited upside. And if you don't try, nothing will happen.
Penny stocks and junk bonds, a classic recipe for attaining mega wealth.
Maybe a bit OT: The other day I read an interview with a local guy in his 20s that struck gold with crypto, he'd invest something like $20k, and turned it into $40M. He basically went all in on one alt-coin before the marked exploded late last year, and the coin went up 2000x. When asked about it, he of course came up with a narrative that this wasn't just dumb luck. He had had worked hard for those $20k, and he had…
Rich people never want to acknowledge their luck, because it doesn't fit the "self-made" narrative. edit: to please the pedants, I should have said "many rich people", as to not imply "all". My fault.
Lou Reed
The one that always bugs me is when rich, successful people tell others to follow their heart or passion. It's easy to follow your heart once you're already rich. The other one is that rich people don't think about money, which is bullshit. It's all they think about, even if they don't show it.
Following your heart can also be a great filter. If you maintain some level of compassion and integrity, you will create a product that customers want.
It’s one thing to signal by wearing nice clothes to a company outing where you make an impression on the person who can materially affect your future income.
It’s another thing to consider every aspect of your life in the lens of “what would the wealthy do?”
I really have no interest in allowing others to make decisions for me, and I don’t understand the mindset
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Fair point. My numbers are probably off on everything now. Before the 2020s era inflation you could definitely pick up a mens one used for $2k, like a Datejust model for example. Likewise a $70k car is neither particularly rare or exotic now with how much the average car price has been pushed up by big trucks and EVs.
It's pretty easy to add a few options and pay $70K or more for a Ford F-150 these days. At least here in Canada. People love their pickup trucks.
The Tesla Model 3/Y range can easily run up above $70k with options now, and the bigger Tesla Model S/X is a six-figures vehicle!
Likewise, gas powered BMWs seem to have disappeared in the $30-40k range and pretty quickly get into the $50k+ range.
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> even though you can't buy crypto with cash and crypto cannot be converted directly to cash I have bought and sold crypto primarily using cash for the last ten years, what are you talking about. Yes, many people use an exchange. Many do not.
Physical cash? How?
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The nuanced take is that luck is something that can be “made” through putting oneself in situations conducive to getting lucky through exposure, networking, and repeated attempts / not giving up. You might be able to get successful people to admit that they were in the right place at the right time, but they’ll almost always qualify that with how much effort they put in to be in that situation.
> repeated attempts / not giving up Being able to afford that wouldn't be lucky, it would imply some sort of per-existing wealth or at least a solid support network.
I was presenting it primarily through the lens of a mindset that is undaunted by failure and having the motivation to avoid giving up prematurely.
Successful writers and entertainers often share stories about how they were rejected dozens and dozens of times before finally getting noticed. I have friends who wanted to change careers by moving to a different industry and they must have submitted hundreds of job applications before they managed to get their junior level role.