> Rich kids can afford many throws. If they want to, they can try over and over and over again until they hit something and feel good about themselves.
I see this story repeated over and and over again on the internet, but I don't really see it playing out the same way in the real world.
I've seen a lot of "rich kids" try to start businesses, but then quickly realize that it's a huge amount of work and not guaranteed success. Then they look around and see all of their opportunities for safe, high-paying jobs that leverage their expensive education and their parents' network, and decide that taking one of those jobs is a much easier way forward.
I lived near a highly ranked MBA school for a while. I would constantly get LinkedIn requests from stereotypical "rich kid" MBA grads who banded together and wanted to "do a startup", but they just needed a few engineers to actually do all the work. It was funny to hear the pitches about how they'd give me 1-5% for doing all of the tech work of their company while all of them (up to 7, in one case) would handle the business side of things for me. No thanks.
There are definitely some "rich kid" startup founders out there, but a lot of the founders I've worked with over the years came more from the end of the spectrum where they grew up learning how to work hard, that money doesn't come easy, that they can't rely on parents to bail them out, and so on.
> It simply implies that in a case where both have considerable skills and effort, the 'rich kid' will get much farther
Well if you assume everything is equal but you give one person more money then, sure, that person has a higher chance of success.
But that's missing the point: Many important things are not equal between the two groups, and it doesn't always benefit the wealthier one when it comes to starting companies.
> I would constantly get LinkedIn requests from stereotypical "rich kid" MBA grads who banded together and wanted to "do a startup", but they just needed a few engineers to actually do all the work. It was funny to hear the pitches about how they'd give me 1-5% for doing all of the tech work of their company while all of them (up to 7, in one case) would handle the business side of things for me. No thanks.
If they kept trying, someone else probably said yes.
> but then quickly realize that it's a huge amount of work and not guaranteed success
The other path I've seen rich kids take is get a good enough job in sales and marketing where they're doing fine, but not as good as their parents.
Revision to the mean is real.
It's also like the three-generation rule for family businesses. The first builds it, the second maintains it, the third loses it.
Alternatively,
> My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel
To apply it to the dart game analogy I would argue it's just not as compelling to the rich kids. They can shoot shots if they want, but winning the stuffed animal isn't that exciting because they can have as many of those as they want without winning a dart game. The prize is much more exciting to someone who has to hit the shot to get the prize.
I see this story repeated over and and over again on the internet, but I don't really see it playing out the same way in the real world.
I've seen a lot of "rich kids" try to start businesses, but then quickly realize that it's a huge amount of work and not guaranteed success. Then they look around and see all of their opportunities for safe, high-paying jobs that leverage their expensive education and their parents' network, and decide that taking one of those jobs is a much easier way forward.
I lived near a highly ranked MBA school for a while. I would constantly get LinkedIn requests from stereotypical "rich kid" MBA grads who banded together and wanted to "do a startup", but they just needed a few engineers to actually do all the work. It was funny to hear the pitches about how they'd give me 1-5% for doing all of the tech work of their company while all of them (up to 7, in one case) would handle the business side of things for me. No thanks.
There are definitely some "rich kid" startup founders out there, but a lot of the founders I've worked with over the years came more from the end of the spectrum where they grew up learning how to work hard, that money doesn't come easy, that they can't rely on parents to bail them out, and so on.