NaughtyRob

Bullshit to the OP. My family was always poor but I've always had that drive to be my own boss.

__________________
[email protected]
Skype: 17026955414
Vacares Web Hosting - Protect Your Ass with Included Daily Backups

TrafficTitan

If you look at any of the legendary start up billionaires like Elon Musk or Bill Gates they all had these traits:

> Genius level IQ
> Absurd work ethic and motivation
> Outlandish vision and dreams

All 3 of these are very rare traits. People with all of these traits are almost inevitably rich. There could be cases where poor people have these traits and then pass them on to their kids but it doesn't seem likely.

12clicks

yes, we're all very happy for your anonymous claims of success.
please don't muddy up what we've been saying with your home from the day job BS. No one said all it takes is hard work. It takes hard work, intelligence, and the will to succeed.
No one ever said it was hard work alone, we've said imagining it takes your parent's money to succeed is a silly lie.

ilnjscb

Dude, now you're grouping, and insulting. At this point we disagree and the dialogue has become pointless.

nesasrb

What a good post!!!

Bladewire

And the winner is: 12 Clicks!


Move along now, next!

__________________

ilnjscb

I have to lose some time, statistics again

American Psycho

This is simple common sense.

If one has money, a good education and time ie not working 50hrs a week to pay basics then its easier to startup a business.

Personally i started from $0 and a single hard working mom with no backing.

I had no backing when i started but i know it would have been much easier if i have say $100k capital and didnt have to work 3 jobs to get the money to start up.

Being from that school i respect those who start with no backing % 1000 more than those who's parents paid to start a business for them.

American Psycho

Gates came from a wealthy family.
just as do the owners of bangbros / rk come from successful fathers with money. Both cases their father not only helped with money but also invaluable advice for a young startup.

My dad was no where around. If he helped id be 10x more successful.

This is a rather stupid argument imo.

Common sense gives the correct answer.

Family backing ie money and help increases chache of successfully starting up.

12clicks

no, common sense tells you that the family didn't ALWAYS have money and that at some point, these parent's ancestors or the parents themselves started with nothing and succeeded. So actually, ALL successful families had someone start with nothing and then provide a leg up for their offspring.
and you never hear about the rich kids who squandered all of their money and disappeared.

American Psycho

No one ie myself or the article said all entrepreneurs are from wealthy families. Just that its more likely when you are from a family that well off, and yes that observation bases on their research just makes sense beyond looking at the stats.

ClaireMonroe

^^^ This

sperbonzo

The OP, and anyone else interested in this, should read "Outliers".


Here is a synopsis:

Synopsis

Outliers has two parts: "Part One: Opportunity" contains five chapters, and "Part Two: Legacy" has four. The book also contains an Introduction and Epilogue.[6] Focusing on outliers, defined by Gladwell as people who do not fit into our normal understanding of achievement,[3] Outliers deals with exceptional people, especially those who are smart, rich, and successful, and those who operate at the extreme outer edge of what is statistically plausible.[2] The book offers examples that include the musical ensemble The Beatles, Microsoft's co-founder Bill Gates, and the theoretical physicist J. Robert Oppenheimer. In the introduction, Gladwell lays out the purpose of Outliers: "It's not enough to ask what successful people are like. [...] It is only by asking where they are from that we can unravel the logic behind who succeeds and who doesn't."[2] Throughout the publication, he discusses how family, culture, and friendship each play a role in an individual's success, and he constantly asks whether successful people deserve the praise that we give them.[2]

The book begins with the observation that a disproportionate number of elite Canadian hockey players are born in the first few months of the calendar year. The reason is that since youth hockey leagues determine eligibility by calendar year, children born on January 1 play in the same league as those born on December 31 in the same year. Because children born earlier in the year are bigger and more mature than their younger competitors, and they are often identified as better athletes, this leads to extra coaching and a higher likelihood of being selected for elite hockey leagues. This phenomenon in which "the rich get richer and the poor get poorer" is dubbed "accumulative advantage" by Gladwell, while sociologist Robert K. Merton calls it "the Matthew Effect", named after a biblical verse in the Gospel of Matthew: "For unto everyone that hath shall be given, and he shall have abundance. But from him that hath not shall be taken away even that which he hath."[7] Outliers asserts that success depends on the idiosyncrasies of the selection process used to identify talent just as much as it does on the athletes' natural abilities.[7]

A common theme that appears throughout Outliers is the "10,000-Hour Rule", based on a study by Anders Ericsson. Gladwell claims that greatness requires enormous time, using the source of The Beatles' musical talents and Gates' computer savvy as examples.[3] The Beatles performed live in Hamburg, Germany over 1,200 times from 1960 to 1964, amassing more than 10,000 hours of playing time, therefore meeting the 10,000-Hour Rule. Gladwell asserts that all of the time The Beatles spent performing shaped their talent, and quotes Beatles' biographer Philip Norman as saying, "So by the time they returned to England from Hamburg, Germany, 'they sounded like no one else. It was the making of them.'"[3] Gates met the 10,000-Hour Rule when he gained access to a high school computer in 1968 at the age of 13, and spent 10,000 hours programming on it.[3]

In Outliers, Gladwell interviews Gates, who says that unique access to a computer at a time when they were not commonplace helped him succeed. Without that access, Gladwell states that Gates would still be "a highly intelligent, driven, charming person and a successful professional", but that he might not be worth US$50 billion.[3] Gladwell explains that reaching the 10,000-Hour Rule, which he considers the key to success in any field, is simply a matter of practicing a specific task that can be accomplished with 20 hours of work a week for 10 years. He also notes that he himself took exactly 10 years to meet the 10,000-Hour Rule, during his brief tenure at The American Spectator and his more recent job at The Washington Post.[2]

Reemphasizing his theme, Gladwell continuously reminds the reader that genius is not the only or even the most important thing when determining a person's success. Using an anecdote to illustrate his claim, he discusses the story of Christopher Langan, a man who ended up owning a horse farm in rural Missouri despite having an IQ of 195 (Gladwell claims that Einstein's was 150).[2] Gladwell points out that Langan has not reached a high level of success because of the dysfunctional environment in which he grew up. With no one in Langan's life and nothing in his background to help him take advantage of his exceptional gifts, he had to find success by himself. "No one—not rock stars, not professional athletes, not software billionaires, and not even geniuses—ever makes it alone", writes Gladwell.[2]

Later, Gladwell compares Langan with Oppenheimer, the father of the atomic bomb. Noting that they typify innate natural abilities that should have helped them both succeed in life, Gladwell argues that Oppenheimer's upbringing made a pivotal difference in his life. Oppenheimer grew up in one of the wealthiest neighborhoods in Manhattan, was the son of a successful businessman and a painter, attended the Ethical Culture Fieldston School on Central Park West, and was afforded a childhood of concerted cultivation.[7] Outliers argues that these opportunities gave Oppenheimer the chance to develop the practical intelligence necessary for success.[7] Gladwell then provides an anecdote: When Oppenheimer was a student at University of Cambridge he attempted to poison one of his tutors. He avoided punishment, and continued his studies by using the skills gained from his cultivated upbringing in his negotiation with the university's administrators, who had wanted to expel him.[7]

In chapter nine, Marita's Bargain, Gladwell advances the notion that the success of students of different cultures or different socio-economic backgrounds is in fact highly correlated to the time students spent in school or in educationally rich environments. He describes the Knowledge is Power Program (KIPP) which helps students from about 50 inner city schools across the United States achieve much better results than other inner city schools' students and explains that their success stems from the fact that they simply spent more hours at school during the school year and the summer. Gladwell also analyzes a 5-year study done by Karl Alexander of Johns Hopkins University, demonstrating that summer holidays have a detrimental effect on students of disadvantaged backgrounds, who paradoxically progress more during the school year than students from the highest socio-economic group.

Before the book concludes, Gladwell writes about the unique roots of his Jamaican mother, Joyce, a descendant of African slaves.[1] Joyce attended University College in London, where she met and fell in love with Graham Gladwell, a young mathematician. After moving together to Canada, Graham became a math professor and Joyce a writer and therapist. While Gladwell acknowledges his mother's ambition and intelligence, he also points out opportunities offered to his parents that helped them live a life better than those of other slave descendants in the West Indies. Gladwell also explains that, in the 18th century, a white plantation owner in Jamaica bought a female slave and made her his mistress. This act inadvertently saved the slave and her offspring from a life of brutal servitude.[8] As one of the slave's descendants, this turn of luck led to Gladwell's relatively successful position in life. Summarizing the publication, Gladwell notes that success "is not exceptional or mysterious. It is grounded in a web of advantages and inheritances, some deserved, some not, some earned, some just plain lucky",[8] and at the end of the book, he remarks, "Outliers wasn't intended as autobiography. But you could read it as an extended apology for my success."[2]





.

__________________
Michael Sperber / Acella Financial LLC/ Online Payment Processing

[email protected] / http://Acellafinancial.com/

ICQ 177961090 / Tel +1 909 NET BILL / Skype msperber

TheSquealer

To clarify the "10,000 hour rule" as someone that's read all of K Anderson Ericssons work, it is a reference to the average amount of time in terms of practice (repetitions and reachesit it takes to achieve world class performance in a particular domain (art, sports etc) it also assumes a very specific type of practice which he calls "deliberate practice" ... meaning basically that athlete for example, that has to get it right, that has to be perfect, that doesn't stop trying until they are happy with the result. Those people that ruthlessly practice the fundamentals and never ever ever stop trying to perfect the most basic aspects of their domain (Kobe shooting and making 1000 free throws before stopping practice etc). It doesn't mean "just give a half assed effort long enough and you'll qualify for the Olympics"

takethebluepill

99% of you in this thread are referring to entreprenaurs that would be in the top .01% or less of the general population. The Warren B's, the Bill G's, The Donald T's of the world. Truth is, an entreprenaur is anyone that has created their own employment. This includes the one man hot dog vendor in New York, the couple owned restaurant in Toronto, and so on. So, when looking at the correct definition of an entreprenaur, the whole premise of this thread is utter bullshit.

Further, there is one old time poster in this thread whose comments are even more ironic. This particular fella spent years making a living out of pushing fake virus detectors that actually installed malmare and adware onto computers and today has more cross sells in his programs that you can shake a stick at. (Although I think shoving said stick up this individuals ass would be a much more satisfying then simply shaking it). And this fella thinks he is a successful entreprenaur. Newsflash...cheating and defrauding is not being a smart business person. It's fraud. Anyone can do it. Most simply choose not to.

12clicks

I'd rather be the rich old timer than the broke as a joke nights and weekends complainer.
But thats just me.

nico-t

You're an old timer, but i doubt that you're rich though. Or you would have moved out of your moms basement already.

12clicks

#1 I doubt he's talking about me as we never had a virus detector or malware product.
#2 don't project your pathetic life onto others. It makes you look silly.
#3 shouldn't you be out looking for a job? God knows, you don't make a living in adult.

Bladewire

__________________

nico-t

it's a hommage to mr-t, strangely it doesn't really gets accepted though

Drake

Personality traits (ambition, opportunistic, risk-taking, delayed gratification, planning) and sufficient intelligence (managerial level IQ) are probably most important. But like American Psycho said, money bolsters these things to higher levels.

Lots of wealth is multi-generational. For example, Donald Trump's wealth started two generations earlier with his German immigrant grandfather who took the initiative to open bars/hotels along barren roads for miners seeking riches during the Gold Rush. He eventually parlayed that capital into a construction company. Donald's father would take that money and knowledge and apply it in New York. The wealth he amassed was handed down to his children, including Donald, who grew the fortune even more in Manhattan.

Trump's grandfather could probably never have been as financially successful as Donald (taking inflation into account) because he came from nothing, but he did well for himself by trying his best with what was available. It starts from somewhere. Each successive generation built on the previous one. I don't think it's a knock against Trump to say that his success is in part due to the financial legacies created by his grandfather, and later by his father. Trump could have still failed but he succeeded in growing the business further.

The takeaway is the try your best, and if you fall short of your financial dreams, you can at least lay the groundwork for your children to build on, giving each generation a greater chance. Being fortunate enough to be born into wealth is a very rare privilege.

Drake

To give greater perspective on the rarity of true wealth, here are figures from the Credit Suisse Global Wealth Databook (2014) https://publications.credit-suisse.c...41B58C5EA591A4 . Refer to page 26. These are the number of "high net worth" individuals in the world:

1,391,200 individuals have a net worth of USD $10 - $50 million

128,200 individuals have a net worth over USD $50 million

There are only about 1.5 million people on earth that have $10 million or more. Note that there are 7000 million people on earth.

But there are over 30 million with net worths of $1 million or more:

30,785,900 individuals have a net worth of USD $1 - $5 million

2,532,800 individuals have a net worth of USD $5 - $10 million

wehateporn

Just need a house in London for that

__________________