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ErrataA reader provided some very interesting feedback on the Paul Graham essay on how people get rich. As a refresher, PG looked at the original Forbes 400 list in 1982, and noticed that the big sources were inheritance, oil, and real estate. Today, finance and especially technology are better-represented. But, as this reader notes:
And especially:
This is a very interesting point! If there's such a strong power law distribution for company returns, why don't we see more cofounders, employee-#1s, and ultra-early angels on the lists? We do see some, but not many. One possible reason is that founding and investing skills correlate—two of Google's earliest investors did not get rich investing in Google, but got rich by co-founding Sun Microsystems and Amazon, respectively. Books
Open Thread
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Surviving a Combinatorial Explosion
Friday, April 23, 2021
Plus! Sanctions, Cautiously; Adtech Always Adds Layers; Unfundable Mines; Less Marginal Business
Longreads + Open Thread
Monday, April 19, 2021
Wealth, Speech, Taiwan, Legitimacy, Charter Cities, Licklider
Longreads + Open Thread
Saturday, April 10, 2021
Geezer Teasers, Intel, Vaccines, Message Board Theorists, Roblox Correspondents, Projects
Decoupling, Digital Currency, and the Consumer of Last Resort
Friday, April 9, 2021
Plus! A SPAC Modest Proposal; Scraping for Profit; Post-Cookie; Best Buy Bundle; Debt is Here; The Short-Selling Cycle
Longreads + Open Thread
Saturday, April 3, 2021
Wrestling, Genomes, World's Fair, Defense, Cities, Flying Cars
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