Page 1 of 2 1 2 LastLast
Results 1 to 25 of 40
  1. #1
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,067

    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
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  2. #2
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    30,881
    I have always wondered this ^^
    Lee Lau - xxx-er is the laziest Asian canuck I know

  3. #3
    Join Date
    Dec 2005
    Location
    Posts
    15,780
    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

  4. #4
    Join Date
    Jan 2008
    Posts
    10,102
    Quote Originally Posted by Meadow Skipper View Post
    Casual observation confirms this.

    But ffs, what is the way societies can optimize the returns they get for investments?
    Subsidizing purchases of rabbits feet, 4-leaf clovers and horseshoes?

    Randomly placing pennies on the ground?

  5. #5
    Join Date
    Oct 2010
    Posts
    1,744
    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.

  6. #6
    Join Date
    Dec 2012
    Posts
    17,749
    Quote Originally Posted by The Tortoise View Post
    Malcolm Gladwell's book Outliers sort of gets into this. Truly successful people are almost never the result of talent alone.
    What about Josh Allen?

    Go Bills!
    "timberridge is terminally vapid" -- a fortune cookie in Yueyang

  7. #7
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,067
    What about Josh? It is a "Team" sport and without a strong supporting cast he is Joe Burrow, so Josh is lucky, Joe not so much.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  8. #8
    Join Date
    Sep 2001
    Location
    Before
    Posts
    27,911
    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 <<<

  9. #9
    Join Date
    Dec 2012
    Posts
    17,749
    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

  10. #10
    Join Date
    Sep 2001
    Location
    Before
    Posts
    27,911
    >>ahem<<
    Merde De Glace On the Freak When Ski
    >>>200 cm Black Bamboo Sidewalled DPS Lotus 120 : Best Skis Ever <<<

  11. #11
    Join Date
    Aug 2006
    Posts
    8,965
    Gladwell is a contrarian conservative POS

  12. #12
    Join Date
    Jun 2020
    Posts
    5,526
    Quote Originally Posted by The Tortoise View Post
    Malcolm Gladwell's book Outliers sort of gets into this. Truly successful people are almost never the result of talent alone.
    Almost?

  13. #13
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,067
    Quote Originally Posted by Buster Highmen View Post
    In America, being an asshole wins out over the intelligent.
    So a lucky asshole trumps all?
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  14. #14
    Join Date
    Sep 2001
    Location
    Before
    Posts
    27,911
    Quote Originally Posted by liv2ski View Post
    So a lucky asshole trumps all?
    Smart asshole who's lucky. I dabble in all three.
    Merde De Glace On the Freak When Ski
    >>>200 cm Black Bamboo Sidewalled DPS Lotus 120 : Best Skis Ever <<<

  15. #15
    Join Date
    Sep 2010
    Location
    Tejas
    Posts
    11,859
    Quote Originally Posted by liv2ski View Post
    So a lucky asshole TRUMPs all?
    Lol. Good one.

  16. #16
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,067
    Quote Originally Posted by Buster Highmen View Post
    Smart asshole who's lucky. I dabble in all three.
    Hmmm, I guess I kind of fit that mold too. I have certainly been lucky.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  17. #17
    Join Date
    Jan 2010
    Location
    2 hours from anything
    Posts
    10,732
    Quote Originally Posted by bodywhomper View Post
    Gladwell is a contrarian conservative POS
    Huh? Malcom Gladwell? The same guy who promotes being Anti-racist? He always seemed to be more center left to me.

  18. #18
    Join Date
    Jan 2010
    Location
    2 hours from anything
    Posts
    10,732
    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

  19. #19
    Join Date
    May 2009
    Location
    inpdx
    Posts
    20,197
    Money isn't the measuring stick people think it is.

  20. #20
    Join Date
    Jul 2016
    Location
    NY
    Posts
    3,301
    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.

  21. #21
    Join Date
    Sep 2010
    Location
    Tejas
    Posts
    11,859
    Quote Originally Posted by Brownski View Post
    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.
    Case in point: https://www.tetongravity.com/forums/...ase-the-Kraken

  22. #22
    Join Date
    Nov 2008
    Location
    between campus and church
    Posts
    9,925
    Quote Originally Posted by ::: ::: View Post
    Money isn't the measuring stick people think it is.
    Inverse proportion to penis size?

  23. #23
    Join Date
    Jan 2009
    Location
    907
    Posts
    15,645
    I've saved billions. I guess that makes me some kind of a freak with a jet?

  24. #24
    Join Date
    Oct 2010
    Posts
    1,744
    Quote Originally Posted by J. Barron DeJong View Post
    Almost?
    Well yeah, surely somewhere there must be an exception.

  25. #25
    Join Date
    Feb 2007
    Location
    Hood River
    Posts
    661
    Quote Originally Posted by ::: ::: View Post
    Money isn't the measuring stick people think it is.
    Exactly. This article is missing the key point. Once you have basics covered there is a lot more to happiness than $$.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •