Wealth follows power-law (top 1% has more wealth in the world than bottom 99%).
But it’s NOT that the top 1% is significantly more skilled than everyone else. Skill follows normal distribution.
What explains the wealth concentration then?
Turns out - it’s luck.
But it’s NOT that the top 1% is significantly more skilled than everyone else. Skill follows normal distribution.
What explains the wealth concentration then?
Turns out - it’s luck.
Simulations have shown how being lucky is the topmost attribute of the wealthiest.
It makes sense & I wish more people realise this.
You can increase the surface area of your luck by taking more shots of high upside / low downside opportunities (startups are great at this).
It makes sense & I wish more people realise this.
You can increase the surface area of your luck by taking more shots of high upside / low downside opportunities (startups are great at this).
But it's also important to remember that luck is not something that can be totally controlled.
Even if you take more shots at opportunities, there is no guarantee that you will be successful.
So don’t question your self-worth when you might simply not be as lucky as some others
Even if you take more shots at opportunities, there is no guarantee that you will be successful.
So don’t question your self-worth when you might simply not be as lucky as some others
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