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09-23-2022, 11:16 AM #1
If you're so smart why aren't you rich?
Interesting article. I guess luck isn't highly overrated. I always saw life as two paths. If you go down one, the results are better than the other.
If You’re So Smart, Why Aren’t You Rich? Turns Out It’s Just Chance.
The most successful people are not the most talented, just the luckiest, a new computer model of wealth creation confirms. Taking that into account can maximize return on many kinds of investment.
What factors, then, determine how individuals become wealthy? Could it be that chance plays a bigger role than anybody expected? And how can these factors, whatever they are, be exploited to make the world a better and fairer place?
We finally get an answer thanks to the work of Alessandro Pluchino at the University of Catania in Italy and a couple of colleagues. These guys have created a computer model of human talent and the way people use it to exploit opportunities in life. The model allows the team to study the role of chance in this process.
The results are something of an eye-opener. Their simulations accurately reproduce the wealth distribution in the real world. But the wealthiest individuals are not the most talented (although they must have a certain level of talent). They are the luckiest. And this has significant implications for the way societies can optimize the returns they get for investments in everything from business to science.
https://getpocket.com/explore/item/i...-s-just-chance
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09-23-2022, 11:39 AM #2Registered User
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I have always wondered this ^^
Lee Lau - xxx-er is the laziest Asian canuck I know
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09-23-2022, 11:46 AM #3
Casual observation confirms this.
But ffs, what is the way societies can optimize the returns they get for investments?
And this has significant implications for the way societies can optimize the returns they get for investments in everything from business to science.
https://getpocket.com/explore/item/i...-s-just-chance
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09-23-2022, 12:37 PM #4
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09-23-2022, 12:42 PM #5Registered User
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Malcolm Gladwell's book Outliers sort of gets into this. Truly successful people are almost never the result of talent and hard work alone.
Last edited by The Tortoise; 09-23-2022 at 02:20 PM.
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09-23-2022, 12:47 PM #6
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09-23-2022, 12:59 PM #7
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09-23-2022, 01:12 PM #8
In America, being an asshole wins out over the intelligent.
Merde De Glace On the Freak When Ski
>>>200 cm Black Bamboo Sidewalled DPS Lotus 120 : Best Skis Ever <<<
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09-23-2022, 01:17 PM #9
What about Bobby Stainless? He's killing it in Music City and providing content and free Carfax's to all of us here.
"timberridge is terminally vapid" -- a fortune cookie in Yueyang
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09-23-2022, 01:19 PM #10
>>ahem<<
Merde De Glace On the Freak When Ski
>>>200 cm Black Bamboo Sidewalled DPS Lotus 120 : Best Skis Ever <<<
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09-23-2022, 01:20 PM #11
Gladwell is a contrarian conservative POS
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09-23-2022, 01:21 PM #12
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09-23-2022, 01:21 PM #13
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09-23-2022, 01:22 PM #14
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09-23-2022, 01:25 PM #15
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09-23-2022, 01:33 PM #16
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09-23-2022, 01:36 PM #17
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09-23-2022, 01:43 PM #18
I’ll add the article seems pretty spot on from my experience and I engage with a lot of wealthy business owners. Being an entrepreneur is especially dependent on luck. Hence why most successful entrepreneurs have failed, often multiple times, before succeeding.
My own experience follows this as well. I’m not the worlds most talented accountant in my field, but I had the right relationships, took a risk, started a new division of a company, and have gotten compensated better than most. I’m not a 1%er but do well enough. I constantly think about that, and it results in self-doubt at times. I like to think that many others who are more narcissistic would think they deserved it all and then some and hopefully the people I oversee are better off with me.
Sent from my iPhone using TGR Forums
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09-23-2022, 01:47 PM #19
Money isn't the measuring stick people think it is.
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09-23-2022, 01:58 PM #20
You don’t have to be an asshole to wind up rich but you usually have to be cheap. You don’t become a millionaire by earning a mill. You get there by saving a mill.
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09-23-2022, 02:02 PM #21
Case in point: https://www.tetongravity.com/forums/...ase-the-Kraken
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09-23-2022, 02:02 PM #22
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09-23-2022, 02:06 PM #23
I've saved billions. I guess that makes me some kind of a freak with a jet?
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09-23-2022, 02:19 PM #24Registered User
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09-23-2022, 02:57 PM #25Registered User
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