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MIT Tech Review reports on a new study which used computer model to analyze wealth distribution in society. It concludes that the majority of riches do not result from talent, intelligence or hard work - but luck. Those who succeed most in modern society are born well and experience several 'lucky events' which they exploit, but are of mediocre talent. The study's abstract states that the model has potential for encouraging investment in the genuinely gifted, and summarizes:
"...if it is true that some degree of talent is necessary to be successful in life, almost never the most talented people reach the highest peaks of success, being overtaken by mediocre but sensibly luckier individuals. As to our knowledge, this counterintuitive result - although implicitly suggested between the lines in a vast literature - is quantified here for the first time."
(Score: 1, Flamebait) by The Mighty Buzzard on Sunday March 04 2018, @03:20AM (8 children)
Lack of reading comprehension. He made an absurd statement and I invited him to put his money where his mouth is.
My rights don't end where your fear begins.
(Score: 1, Insightful) by Anonymous Coward on Sunday March 04 2018, @03:22AM (7 children)
You're still equating two situations that are entirely unlike one another. There was no reason to bring up lottery tickets at all.
(Score: 2, Insightful) by The Mighty Buzzard on Sunday March 04 2018, @05:13PM (6 children)
Fine, I'll explain it like I would to a small child. If he genuinely believes luck is what creates wealth, then buying lotto tickets is infinitely wiser than saving for retirement. Now, do you still need further help removing your head from your ass?
My rights don't end where your fear begins.
(Score: 1, Insightful) by Anonymous Coward on Sunday March 04 2018, @06:49PM (2 children)
If "you" means YOU then yes, you need help. I understand you're head has gotten awfully big of late so it'll be hard, but I'm sure it won't be the last large object you stuff up there.
(Score: 3, Funny) by The Mighty Buzzard on Sunday March 04 2018, @11:25PM (1 child)
Damnit, did I leave my webcam on again?
My rights don't end where your fear begins.
(Score: 0) by Anonymous Coward on Monday March 05 2018, @04:45PM
I guess its hard to tell with your head surrounded by gluteus maximii.
(Score: 0) by Anonymous Coward on Monday March 05 2018, @05:50PM
That's not an argument being made. No one said that absolutely everything comes down to luck. Once again, an invalid comparison. Deny it all you like, but your point about lottery tickets was irrelevant.
(Score: 1) by i286NiNJA on Monday March 05 2018, @07:29PM
Maybe we can consider not being stupid to be a sort of luck.
I don't know the odds but I know that if you pulled together a bunch of 18 - 21 year olds and asked them have some success related conversations you'd hear some "interesting" things if you prompted them to talk about gambling, hard work, the value of credentials, or running a business. The sad thing is if you pulled together the least successful 10 years later you'd still hear the same bullshit.
Let's see if I can get a few people to respond to this thread with anecdotes about how they got to assistant manager of nothing by getting a degree in anything and working hard until their big break came, and of course how the Millennials can't do this. I expect also to hear from the regular population of "entrepreneurs" on the internet who "did it all themselves" but are paradoxically one government regulation away from being completely broke.
(Spoiled old men and liars)
These are the sorts of people raising most of a generation, these are the people that most young people are using as role models. 'How to get the job your father was downsized and laid off from" , not super good advice.
Of course if you grow up surrounded by people who are actually successful, then your chances of confidently making wise life decisions goes up considerably. Not only that but being a young person with the financial freedom to take risks and casually find your place in life instead of desperately clinging to your first job is a big deal. If you travel to the richest cities in the world, where the wealth comes first before it trickles down the the commoners, peasants, serfs and wageslaves; You'll see that there are huge populations of young, barely employed, rich kids. Oh they think they're broke, the rude barista who can barely keep it together enough to brew a latte without incident, who do you think that is... really? They're all there on their parents dime so they can be there and available where opportunity knocks with regularity. Finding pleasurable volunteer positions is almost a certain pathway to eventually getting an easy cosmopolitan life. If you can afford to work for free until you make friends with all the elderly idle rich running the place.
You think that kind of real opportunity is available to the daughter of a used car salesman and a CNA in Cleaveland, OH? What about the son of a Tyson meats plant middle manager in Arkansas?
Lol these represent households in the upper half of the middle class but there is no fucking way they can expose their children to the type of opportunities that actually rich people can, at best they get an old car and a college fund.
(Score: 2) by Wootery on Wednesday March 07 2018, @10:34AM
A real pity to spoil that straw-man, Buzz.