And this is, in large part, because of the "Matthew Effect," named for the biblical Matthew and which we all know as the phrase "the rich get richer." We have a system in which small, initial advantages confer dramatic differences in outcome: https://en.wikipedia.org/wiki/Matthew_effect
These are the facts of our system. This is not to discount hard work or anything of the sort. It's to put the lie to the claim that a poor person has worked less hard than a rich person. That may or may not be true. There are rich people who don't work hard at all. There are poor people who do. But we have enough data to know that a poor person has to work hard to get rich, but that is in and of itself not sufficient. It also requires luck. A rich person does not have to work hard at all to stay rich and get richer. They can quite literally pay someone else to do that for them, or rig the system to ensure its outcome.
Alex....I know you're a rocks-jock...I went to school full of engineers and understand how smart they can be (but with limits). That said, to say that one doesn't know how the world works is just silly. And that phrase is used above is often by people far more affluent than us. Answer me this.... how many payrolls have you paid (were responsible) for? If none, methinks you choose your barbs better.
"how many payrolls have you paid (were responsible) for? If none, methinks you choose your barbs better."
This is quite possibly the weakest, and stupidest, insult I've ever seen in my life. I didn't inherit daddy's business, Roger, so no, I haven't paid payrolls. More importantly I HAVE LITERALLY ZERO INTEREST IN DOING THAT. I own my own business, and I am my own boss, and I have no interest in being anyone else's, except in which that's the best way to meet our goals. I help build start-ups to solve problems in energy and prevent harm to people and the environment. I am a scientist and technical leader, and that's what I want to be, not a payroll processor.
You see I am not a processor but an owner who has a responsibility to those I have employed. Thus the term meeting a payroll. You should try it sometime as it is a profound/rewarding experience. People are the operations biggest asset and we all work together to move the business forward. Everyone has a role that is equally important and are compensated accordingly. No one is forced to say but work on their own accord. Together it is a win-win proposition. Wouldn’t you agree that this is the best way forward?
Sounds great, that's why I like worker-owned/cooperative businesses. Anything else is just a scheme to enrich one or a small group of owners through the unequal skimming off from the labor of workers. In other words, a form of legalized theft.
It's called luck, Roger. "Successful" egotists consistently underestimate the role of luck in their success.
https://hbr.org/2021/06/dont-underestimate-the-power-of-luck-when-it-comes-to-success-in-business
Yes, luck, and often unethical exploitation, duplicity and deceit. I'm sure Roger could give a riveting lecture on the topic.
https://www.goodreads.com/book/show/26597345-success-and-luck
A human being has already written a concise summary, so you don't have to let ChatGPT tell you what it's about.
One of the best predictors of economic success in the U.S. for children is their zip code: https://www.edpost.com/stories/zip-code-may-not-be-destiny-but-its-as-hard-to-fight-as-gravity
And this is, in large part, because of the "Matthew Effect," named for the biblical Matthew and which we all know as the phrase "the rich get richer." We have a system in which small, initial advantages confer dramatic differences in outcome: https://en.wikipedia.org/wiki/Matthew_effect
These are the facts of our system. This is not to discount hard work or anything of the sort. It's to put the lie to the claim that a poor person has worked less hard than a rich person. That may or may not be true. There are rich people who don't work hard at all. There are poor people who do. But we have enough data to know that a poor person has to work hard to get rich, but that is in and of itself not sufficient. It also requires luck. A rich person does not have to work hard at all to stay rich and get richer. They can quite literally pay someone else to do that for them, or rig the system to ensure its outcome.
Preparedness + Opportunity = Luck
An adage fit for a child. Not people who have actually learned how the world works.
Alex....I know you're a rocks-jock...I went to school full of engineers and understand how smart they can be (but with limits). That said, to say that one doesn't know how the world works is just silly. And that phrase is used above is often by people far more affluent than us. Answer me this.... how many payrolls have you paid (were responsible) for? If none, methinks you choose your barbs better.
"how many payrolls have you paid (were responsible) for? If none, methinks you choose your barbs better."
This is quite possibly the weakest, and stupidest, insult I've ever seen in my life. I didn't inherit daddy's business, Roger, so no, I haven't paid payrolls. More importantly I HAVE LITERALLY ZERO INTEREST IN DOING THAT. I own my own business, and I am my own boss, and I have no interest in being anyone else's, except in which that's the best way to meet our goals. I help build start-ups to solve problems in energy and prevent harm to people and the environment. I am a scientist and technical leader, and that's what I want to be, not a payroll processor.
You see I am not a processor but an owner who has a responsibility to those I have employed. Thus the term meeting a payroll. You should try it sometime as it is a profound/rewarding experience. People are the operations biggest asset and we all work together to move the business forward. Everyone has a role that is equally important and are compensated accordingly. No one is forced to say but work on their own accord. Together it is a win-win proposition. Wouldn’t you agree that this is the best way forward?
Sounds great, that's why I like worker-owned/cooperative businesses. Anything else is just a scheme to enrich one or a small group of owners through the unequal skimming off from the labor of workers. In other words, a form of legalized theft.
"we all work together to move the business forward."
WTH do you think I'm doing in the businesses I work with Roger?