What Bill Gates was doing at 20 years old(cnbc.com)
cnbc.com
What Bill Gates was doing at 20 years old
https://www.cnbc.com/2018/03/29/what-microsoft-billionaire-bill-gates-was-doing-at-20-years-old.html
143 comments
Read "The Accidental Zillionaire" Allen was smart but not $20B smart as his track record in post-Microsoft shows.
https://www.amazon.com/Accidental-Zillionaire-Demystifying-P...
https://www.amazon.com/Accidental-Zillionaire-Demystifying-P...
We will never know. Accordingly to Paul himself, he was the one with the grand vision. The title he chose for his book is hilariously confronting: "Idea Man".
Does anyone know what proportion of those who drop out of Harvard to make their own companies actually succeed? I suspect we only hear of the success stories of Gates, Zuckerberg, etc. But it would be interesting to know the facts.
Harvard, unlike some other Ivies such as Columbia, let's you take time off your degree without penalty to explore ventures and other ideas. So the ones who don't succeed may have simply returned to Harvard to complete their degrees. It is a multiclass, not binary, classification problem.
Makes sense. I am, and I'm sure many other people are too, guilty of modifying how risky and brave a story is afterwards. E.g. "I turned down these job offers to risk it all for this one venture" when in reality the other job offers would have waited a few weeks while you build options. I suspect telling yourself these kinds of stories probably helps boost your own confidence too.
Exactly. It's risk free.
If you become successful people will use it as bragging rights. Otherwise you go back and finish the degree and no one hears about it.
If you become successful people will use it as bragging rights. Otherwise you go back and finish the degree and no one hears about it.
That's an interesting question but it is possible that the number of companies that succeed from Harvard dropouts is actually higher than those of the companies from some unknown University dropouts. People don't usually get that a Harvard dropout has way different (and I mean way better) socioeconomic, cultural and intellectual circumstances to succeed than say some dropout from a below average University somewhere in the world.
Makes sense. If you're a moderately successful individual to go to Harvard, then if you make a decision to drop out to improve your circumstances then it's probably for a good reason, e.g. a good business venture. Similarly that's why we always hear the statistic about those who hop jobs often are the ones with the highest salaries. Whereas if you're less successful and go to a bad school or something, dropping out may also lead to a better life than your current situation, but the bar is a lot lower of what constitutes "better". Also, generally speaking, students in Harvard are probably more career-driven than the average person, so when they drop out they've probably given it more thought than others on average and thus are more likely to make a success of it.
I don't have any statistics, but I had several friends in high school who got into college and ended up dropping out. I don't think any of them regret it. Only one of them dropped out to start his own company. None of them went to Harvard or MIT.
This doesn't mean that college is a bad decision. It's probably the right decision for most people.
This doesn't mean that college is a bad decision. It's probably the right decision for most people.
It’s amusing that someone still thinks that Microsoft or a Billionaire are a needed descriptors in a title about Bill Gates.
I had this game with my friends where you are supposed to guess who you are (name on a note on your forehead). I wrote Bill Gates on a note, thinking that would be easy, and none of them knew who he was before i explained it. They are not stupid people and all of them have higher education. Just none of them in a technical field, also not americans.
In contrast, the Chinese high school students I met who signed up for free low-quality English lessons did know who Bill Gates was, though they didn't know the name "Microsoft".
Whoa, what is the name of that cool looking retro computer in the photo? Many old cheap early micro computers had absolutely terrible keyboards (apart from some of the later very successful ones like the commodores etc) as far as I remember, but that one looks very nice!
Radio Shack TRS 80-100.
https://en.m.wikipedia.org/wiki/TRS-80_Model_100
https://en.m.wikipedia.org/wiki/TRS-80_Model_100
> ... retro computer in the photo...
I don't think it was retro when the photo was taken.
I don't think it was retro when the photo was taken.
You don't-think correct!
> Gates and Allen both admitted later that they had lied and told MITS that they already had a version of BASIC for the Altair when they hadn't yet written the software. "We had nothing," Allen told CBS' 60 Minutes in an interview.
> But by the time the audacious pair met with MITS in New Mexico two months later, their programming language was ready.
> After selling that software to MITS, both Gates and Allen took jobs with the company in Albuquerque at the end of 1975, while also forming their own partnership, then called "Micro-Soft."
It seems even 40 years ago the only way to get ahead was to "hustle" and "growth hack". I wonder if Elizabeth Holmes also took inspiration from here...
> But by the time the audacious pair met with MITS in New Mexico two months later, their programming language was ready.
> After selling that software to MITS, both Gates and Allen took jobs with the company in Albuquerque at the end of 1975, while also forming their own partnership, then called "Micro-Soft."
It seems even 40 years ago the only way to get ahead was to "hustle" and "growth hack". I wonder if Elizabeth Holmes also took inspiration from here...
The hustle was getting the meeting, by the time they actually sold the software, it existed and worked.
I really, really, struggle to see anything wrong with that.
I really, really, struggle to see anything wrong with that.
Well, it might also have not worked (e.g. someone sells a client software they don't yet have, hoping to build it in the meantime before the delivery, but fails to finish it for whatever reason -- it might just take more time, or he finds out he doesn't have the needed skills).
That would have made a client wait based on a lie ('we already have the software') and depend of them (when the client could have gone shopping elsewhere where they do have the software he needs), which could have cost millions in damages (e.g. failure to get its products to market, because the component he though he bought didn't actually exist when it was supposed to delivered)...
That would have made a client wait based on a lie ('we already have the software') and depend of them (when the client could have gone shopping elsewhere where they do have the software he needs), which could have cost millions in damages (e.g. failure to get its products to market, because the component he though he bought didn't actually exist when it was supposed to delivered)...
MITS were not dependent on Gates and Allen for BASIC; MITS didn't even have plans to have a BASIC interpreter. They were approached by Gates and Allen out of the blue, and had no contract in place If they had not delivered, it wouldn't have set MITS back at all, though it certainly would have not helped sell more Altairs. MITS would have (likely was) free to entertain offers from other entities.
MITS might not have been.
But parent said they can't see anything bad with the behavior (lying about having something you don't have, to make a sell, and rushing to actually make it before the delivery deadline).
And it's something that can surely have bad (to very bad) results -- if you fail to make it, or if you make something sub par to what you promised.
But parent said they can't see anything bad with the behavior (lying about having something you don't have, to make a sell, and rushing to actually make it before the delivery deadline).
And it's something that can surely have bad (to very bad) results -- if you fail to make it, or if you make something sub par to what you promised.
hustling is a privilege.
So is posting on HN. How does that make it wrong?
just saying if you have no excuse for failure you just have to hustle, others blame their failure on others and don't see how others hustle to be successful,
Didnt Larry Ellison do the same thing with Oracle DB.
How to become rich:
Start out rich.
Start out rich.
Step one: Get rich.
That's incredibly naive. That completely devalues the hard work and genius of Bill Gates. Being rich had nothing to do with him spending the better part of his teens at the local university, working on their computer. Being rich had nothing to do with him selling his BASIC to MITS (Remember, he was hiding the fact that he was a student). Being rich had nothing to do with him selling an OS to IBM.
Your comment comes off as petty, and an excuse that unsuccessful people use to explain why they too aren't billionaires.
Your comment comes off as petty, and an excuse that unsuccessful people use to explain why they too aren't billionaires.
>Being rich had nothing to do with him spending the better part of his teens at the local university, working on their computer.
Is that so? I was doing roughly the same thing at roughly the same time (perhaps a couple years later). I talked my way into the local university to use their Unix machine. Was I able to do that because I was the son of an Electrical Engineer and because I attended the private school next door to the university? Hell yes.
Is that so? I was doing roughly the same thing at roughly the same time (perhaps a couple years later). I talked my way into the local university to use their Unix machine. Was I able to do that because I was the son of an Electrical Engineer and because I attended the private school next door to the university? Hell yes.
In 1968, the mothers of students in the school held a fundraiser so that they could purchase computer time on a mainframe DEC PDP-10, owned by General Electric. Both of the boys were very good with computers and programming. Gates and Allen contributed to the majority of use of all of the allowed computer time because they both enjoyed it so much. Because of how much time they had been using up on the computer, Lakeside made an agreement with Computer Center Corporation (CCC) so they could continue to provide computer time to their students.
...
However by 1970, CCC had gone bankrupt, which meant that the boys had to find another place to continue to work with computers. Luckily, Allen’s father worked at the University of Washington, so they gained access to computers there.
...
However by 1970, CCC had gone bankrupt, which meant that the boys had to find another place to continue to work with computers. Luckily, Allen’s father worked at the University of Washington, so they gained access to computers there.
But what about all the other kids who didn't use the time? They had the same privilege and wealth and never created a software empire. Or, maybe, there were hundreds/thousands of kids around the country that had access at that time and Gates/Allen were some of the few that had the inner drive and competitive spirit to excel at it.
It's pretty likely, in the 1970s, that the majority of teenagers with access to computer time were quite well off.
Of course he probably still worked pretty hard, but lots of people wouldn't have been within 100 miles of a computer before they were 20.
Of course he probably still worked pretty hard, but lots of people wouldn't have been within 100 miles of a computer before they were 20.
That's a rather broad generalization with no data to back it up. As an example otherwise, look at Bill Joy, founder of Sun and the son of a school vice-principal.
And so what if both just happened to be in the right place at the right time. Success isn't pre-ordained. There's always a little luck in every success story.
And so what if both just happened to be in the right place at the right time. Success isn't pre-ordained. There's always a little luck in every success story.
It's not like you are bringing the data storm with your dismissals of the advantages of wealth in the late 1960s and early 1970s.
You're the one trying to prove a point, I'm merely dismissing it as non-fact based.
You literally said Being rich had nothing to do with him spending the better part of his teens at the local university, working on their computer.
Yeah, he spent the time at the local university because he wanted to, not because he was rich.
"in the 1970s, that the majority of teenagers with access to computer time were quite well off." -- now that's a claim that has no facts backing it up
"in the 1970s, that the majority of teenagers with access to computer time were quite well off." -- now that's a claim that has no facts backing it up
His mom had a lot to do with the IBM deal. Whether you want to attribute her contacts at IBM that got her son in the door as a consequence of their financial status, is up to you. Personally, I doubt they are passing out personal favors to those with less.
Could be argued, if his family weren't rich, he probably wouldn't live close to a private university to begin with.
Also, he went to a private school that had a computer for him to use.
I watched an interview of his where he admitted that if he hadn't gone to private school, it is unlikely he would have ended up founding Microsoft.
Also, he went to a private school that had a computer for him to use.
I watched an interview of his where he admitted that if he hadn't gone to private school, it is unlikely he would have ended up founding Microsoft.
> Could be argued, if his family weren't rich, he probably wouldn't live close to a private university to begin with.
That's a bizarre claim. College towns nearly universally offer some of the most affordable housing and high quality standards of living in the US. They tend to have far lower crime rates than US cities, and radically cheaper housing.
Paul Allen came from a middle-class background and went to the same Lakeside private school that Gates did.
That's a bizarre claim. College towns nearly universally offer some of the most affordable housing and high quality standards of living in the US. They tend to have far lower crime rates than US cities, and radically cheaper housing.
Paul Allen came from a middle-class background and went to the same Lakeside private school that Gates did.
>Being rich had nothing to do with him selling an OS to IBM.
Yes, a stolen OS he had no part in developing.
I don't doubt that he's a competent programmer (or was at one point). I see no evidence that he's a great one. There are programmers with ten times his ability who will never see 0.01% of his money.
Yes, a stolen OS he had no part in developing.
I don't doubt that he's a competent programmer (or was at one point). I see no evidence that he's a great one. There are programmers with ten times his ability who will never see 0.01% of his money.
What's your point? What makes you the judge of a "great programmer"?
Who cares if there's programmers with 10x his ability, you're talking like programming skills should equal wealth. Sorry, no matter Bill Gates' programming skills, he was a genius at running and growing a business. Two totally different skill sets.
Who cares if there's programmers with 10x his ability, you're talking like programming skills should equal wealth. Sorry, no matter Bill Gates' programming skills, he was a genius at running and growing a business. Two totally different skill sets.
>What makes you the judge of a "great programmer"?
What makes the market the judge? It's picked some really terrible technology.
>Sorry, no matter Bill Gates' programming skills, he was a genius at running and growing a business.
Why is "running and growing a business" a good thing? I would say Microsoft is pretty good evidence that it's often harmful.
Do you think Elizabeth Holmes, Al Capone, and Bernie Madoff deserve to be rich? They were all pretty good at what they did.
What makes the market the judge? It's picked some really terrible technology.
>Sorry, no matter Bill Gates' programming skills, he was a genius at running and growing a business.
Why is "running and growing a business" a good thing? I would say Microsoft is pretty good evidence that it's often harmful.
Do you think Elizabeth Holmes, Al Capone, and Bernie Madoff deserve to be rich? They were all pretty good at what they did.
You're comparing criminals to Bill Gates? Really? Some people can't be argued with when they make wild baseless claims.
You're almost trolling. We're on the edge of defining what's good and bad.
Im this case I would also ask what where his parents doing when Bill Gates was ten.
I don't know for the US but performing well is very much a question of heritage and ancestry.
I don't know for the US but performing well is very much a question of heritage and ancestry.
[deleted]
At 20 years old, Microsoft billionaire Bill Gates was living the privileged life of a rich white kid. His father was a prominent lawyer, and his mother served on the board of directors for First Interstate BancSystem and the United Way. Gates' maternal grandfather was JW Maxwell, a national bank president.
If anything, the story about Bill Gates shows that your own success will change your childrens' future.
If anything, the story about Bill Gates shows that your own success will change your childrens' future.
That's not really what you should take from that.
K&L Gates is in the same building as the company I work for, despite multiple mergers 2 decades past retirement the Gates name is still on the door and it's not because of Bill.
William Gates is a very accomplished individual and a true philanthropist not many people would be schlepping through Africa in their 80's and 90's, especially people of his stature.
1976 (when Bill was 20) would be about 10 years after W. Gates co-founded his law firm and while for sure that they were well off that time I don't exactly know if they would be classified as "wealthy" especially by SV standards.
https://en.wikipedia.org/wiki/William_H._Gates_Sr.
My take on this is that if anything this proof that good parenting is important, there are plenty of other wealthy lines where the children do not amount to anything but managing not squander their heritage and fortune.
Don't get me wrong growing up in an upper middle class family or higher does have a lot of benefits it allows you to have the potential benefit of better education and values and it allows you to take risks that less fortunate individuals may not be able.
However I don't see anything that would prove that someone's success will change their children's future other than to give them a bigger bank account (which cannot be dismissed on it's own ofc).
K&L Gates is in the same building as the company I work for, despite multiple mergers 2 decades past retirement the Gates name is still on the door and it's not because of Bill.
William Gates is a very accomplished individual and a true philanthropist not many people would be schlepping through Africa in their 80's and 90's, especially people of his stature.
1976 (when Bill was 20) would be about 10 years after W. Gates co-founded his law firm and while for sure that they were well off that time I don't exactly know if they would be classified as "wealthy" especially by SV standards.
https://en.wikipedia.org/wiki/William_H._Gates_Sr.
My take on this is that if anything this proof that good parenting is important, there are plenty of other wealthy lines where the children do not amount to anything but managing not squander their heritage and fortune.
Don't get me wrong growing up in an upper middle class family or higher does have a lot of benefits it allows you to have the potential benefit of better education and values and it allows you to take risks that less fortunate individuals may not be able.
However I don't see anything that would prove that someone's success will change their children's future other than to give them a bigger bank account (which cannot be dismissed on it's own ofc).
> K&L Gates is in the same building as the company I work for, despite multiple mergers 2 decades past retirement the Gates name is still on the door and it's not because of Bill.
You are disagreeing with him but just adding to his points. If my father had a company with his name inscribed on a building I would have had some connections for my own business. Instead pop struggled to put food on the table and barely owned a flower pot
Rags to riches are fairy tales. Reality is different. Even Elon musk's father is a millionaire
You are disagreeing with him but just adding to his points. If my father had a company with his name inscribed on a building I would have had some connections for my own business. Instead pop struggled to put food on the table and barely owned a flower pot
Rags to riches are fairy tales. Reality is different. Even Elon musk's father is a millionaire
Isn't it his mother who raised him? Elon Musk also left South Africa to start in the USA, where he succeeded.
I guess: genetics + parenting > rich people background
Also, i think there is one generation in between poor and rich.
This is as fast as it goes:
1st generation: Poor
2nd generation: wealthy (mostly through entrepeneurial or hard work) where they explore investments. Mostly started a SMB or choose a profession with a lucrative income.
3rd generation: extremely rich: good investment decisions or a 0,01% company ( worth 100 million's).
Getting from 1 to 3 in one step is almost impossible. You need the stablility from the 2nd generation to get to the 3rd ( getting investment loans, contacts, ...) and the opportunity to "hit for the stars" multiple times.
I guess: genetics + parenting > rich people background
Also, i think there is one generation in between poor and rich.
This is as fast as it goes:
1st generation: Poor
2nd generation: wealthy (mostly through entrepeneurial or hard work) where they explore investments. Mostly started a SMB or choose a profession with a lucrative income.
3rd generation: extremely rich: good investment decisions or a 0,01% company ( worth 100 million's).
Getting from 1 to 3 in one step is almost impossible. You need the stablility from the 2nd generation to get to the 3rd ( getting investment loans, contacts, ...) and the opportunity to "hit for the stars" multiple times.
I would assume it's more parenting + rich people than genetics.
Also note that Bill Gate's mother sat on the board of open source foundation and she was the one that introduced IBM to Bill Gates and how her Son (Bill) had created this software.
I am an ex-IBMer and trust me, IBM never calls anyone. They have a mind of their own. It's a dinosaur dancing in these new arenas
I am an ex-IBMer and trust me, IBM never calls anyone. They have a mind of their own. It's a dinosaur dancing in these new arenas
It wasn't an open source foundation it was United Way https://en.wikipedia.org/wiki/United_Way_Worldwide in which Mary Maxwell Gates was the first woman to ever chair (she was the first woman in a few other places as well).
John Opel who became CEO of IBM in 1981 at the time was also on the same board.
The introduction according to the few sources I've read took place in 1982 or 1983 which was well after Microsoft has been founded and actually after Microsoft signed the first contract with IBM.
John Opel who became CEO of IBM in 1981 at the time was also on the same board.
The introduction according to the few sources I've read took place in 1982 or 1983 which was well after Microsoft has been founded and actually after Microsoft signed the first contract with IBM.
Genetics give you a greater chance of being smart ( if both parents are smart). Your statement seems to reasonate with me: 2nd generation : wealthy.
Eg. You need the stablility from the 2nd generation to get to the 3rd ( getting investment loans, contacts, ...) and the opportunity to "hit for the stars" multiple times.
Introduction to IBM is summarized under: contacts.
Eg. You need the stablility from the 2nd generation to get to the 3rd ( getting investment loans, contacts, ...) and the opportunity to "hit for the stars" multiple times.
Introduction to IBM is summarized under: contacts.
The jury is still out on the causal relationship between iq and net worth.
Amazing story. Another case of where personal connections really matter. Not some impersonal business decisions that people trust in. I mean that is some ultimate networking just very few people have.
His mother is a rich successful model. What poor person has the means to move to another country and start a tech company. How are you so massively illogical and incoherent in your ability to think?
Your statement seems to reasonate with me: 2nd generation : wealthy.
Wealthy =/= rich, it doesn't exclude rich people also. He could start a software business without a lot of parents money. Elon earned 22 million with Zip2 and they started it with angel investors. It's claimed that his father also provided $28,000 for starting it. ( that's peanuts)
I said: You need the stablility from the 2nd generation to get to the 3rd ( getting investment loans, contacts, ...) and the opportunity to "hit for the stars" multiple times.
Getting money from angel investors is summarized under: "getting investment loans".
You probably didn't read what i was saying: From poor to wealthy to rich. Elon did this. I never claimed that he went from poor to rich.
I think my ability to think is better than your ability to read.
Wealthy =/= rich, it doesn't exclude rich people also. He could start a software business without a lot of parents money. Elon earned 22 million with Zip2 and they started it with angel investors. It's claimed that his father also provided $28,000 for starting it. ( that's peanuts)
I said: You need the stablility from the 2nd generation to get to the 3rd ( getting investment loans, contacts, ...) and the opportunity to "hit for the stars" multiple times.
Getting money from angel investors is summarized under: "getting investment loans".
You probably didn't read what i was saying: From poor to wealthy to rich. Elon did this. I never claimed that he went from poor to rich.
I think my ability to think is better than your ability to read.
$28,000 is peanuts now?
In the grand scheme of things, sure, it's not much, but consider the time and place where he was that his father could just give him that much money.
In the grand scheme of things, sure, it's not much, but consider the time and place where he was that his father could just give him that much money.
I have a lot more in my bank and just bought a apartment in a pretty expensive area ( 30 years old)
I'm in no way rich, but have no money troubles. I also saved a lot, worked a lot and lived with my parents pretty long
I'm in no way rich, but have no money troubles. I also saved a lot, worked a lot and lived with my parents pretty long
And if you count all that was directly involved in the creation of this company ? How much does it become then ?
1) $28000 cash
2) Food & lodging for him and his brother in Palo Alto
3) two debt-free Stanford educations (him & his brother), including PhD (which he walked out on)
How much does that come to ?
1) $28000 cash
2) Food & lodging for him and his brother in Palo Alto
3) two debt-free Stanford educations (him & his brother), including PhD (which he walked out on)
How much does that come to ?
Where does it say his parents paid for it? Was the PhD a requirement, since he quitted it?
How expensive would renting an appartment be in that time, 750$ / month? Did he rent one? Because he doesn't have a house there and stays with friends a lot of the time https://www.quora.com/Is-it-true-that-Elon-Musk-does-not-hav...
He and a fellow student rented a vacant frat house and transformed it into a nightclub. Quite a daring and bold move for a low-income college student. ( https://sites.psu.edu/danielpassion/2017/03/24/entrepreneur-... )
Don't overreact. I never said he came from poor. Why do people keep misreading that?
How expensive would renting an appartment be in that time, 750$ / month? Did he rent one? Because he doesn't have a house there and stays with friends a lot of the time https://www.quora.com/Is-it-true-that-Elon-Musk-does-not-hav...
He and a fellow student rented a vacant frat house and transformed it into a nightclub. Quite a daring and bold move for a low-income college student. ( https://sites.psu.edu/danielpassion/2017/03/24/entrepreneur-... )
Don't overreact. I never said he came from poor. Why do people keep misreading that?
First paying for an extra year ... and then walking out on it, like Elon did, requires more than "not coming from poor" in my experience.
Now, granted, I'm not sure about that. I did not come from rich parents, and if I had walked out on any of my university years there was no way in hell I would see another dollar from parents for a long time.
Now, granted, I'm not sure about that. I did not come from rich parents, and if I had walked out on any of my university years there was no way in hell I would see another dollar from parents for a long time.
His parents were wealthy, like I said. Not rich ( not a requirement)
Also, Elon was free to do what he wanted. Not everyone has the same parents/conditionals, but that is off topic though
Also, Elon was free to do what he wanted. Not everyone has the same parents/conditionals, but that is off topic though
This has very little to do with good parenting and better education and not much to do with wealth.
People coming from a powerful, influential, well connected families have countless opportunities to start business or get into politics or anything else.
In many countries in the world any random 20-years-old trying to talk to IBM would be laughed at.
Research has shown that parents social connections are the most significant factor shared by today's billionaires.
People coming from a powerful, influential, well connected families have countless opportunities to start business or get into politics or anything else.
In many countries in the world any random 20-years-old trying to talk to IBM would be laughed at.
Research has shown that parents social connections are the most significant factor shared by today's billionaires.
>In many countries in the world any random 20-years-old trying to talk to IBM would be laughed at.
I think that may say more about the US than it goes about proving your point.
People greatly over estimate the level of power and influence the Gates had when MSFT was formed, everything I've read about them shows that both Bills parents were remarkably accomplished people.
When you think about old money and the rich and powerful organizing a divestment campaign against the apartheid in SA like his mother did isn't the first thing that comes to your mind.
Out of all of the examples of "Wealth begets Wealth" the Gates are probably the worst one I can think off.
I think that may say more about the US than it goes about proving your point.
People greatly over estimate the level of power and influence the Gates had when MSFT was formed, everything I've read about them shows that both Bills parents were remarkably accomplished people.
When you think about old money and the rich and powerful organizing a divestment campaign against the apartheid in SA like his mother did isn't the first thing that comes to your mind.
Out of all of the examples of "Wealth begets Wealth" the Gates are probably the worst one I can think off.
>Out of all of the examples of "Wealth begets Wealth" the Gates are probably the worst one I can think off.
On his Reddit ama he himself said that his upbringing contributed a lot to his success.
Also this doesn't say more about US but more about confidence and ' smoke and mirrors show' while starting out.
On his Reddit ama he himself said that his upbringing contributed a lot to his success.
Also this doesn't say more about US but more about confidence and ' smoke and mirrors show' while starting out.
Of course his up bringing contributed to his success but that doesn’t mean it was the money.
His parents were exceptionally successful and not just financially this can have a huge impact on the value system of the child especially if the parents are involved in education and parenting which in Bill’s case they were.
I mean Bill went to an exclusive private school (last year ranked 6th in the US) where he met Paul Allen and Ric Weiland. And all three had the opportunity to play around with a computer long before someone not of their means would be able to. I think we can pretty confidently say that Bill Gates would not have been 'Bill Gates' had he not been able to afford Lakeside.
No but Lakeside is also affordable to upper middle class today, and likely was even more affordable back then.
Don't get me wrong no one is arguing that money doesn't affect your future of course it does but it's only one factor and a factor with a lot of diminishing returns.
I don't personally see that Bill got where he did due to some exceptional wealth both because I don't consider the Gates pre-Microsoft exceptionally wealthy by US standards and that wealth can only grant you opportunities.
Considering who his parents were in terms of their achievements I'm also not so sure we can claim that Bill Gates without Lakeside would've not have been 'Bill Gates' sure it's nearly impossible to estimate the effect of each individual moment in ones life but if we take it on a macro level I think the character of his parents influenced him considerably more than their wealth.
To make my point even clearer at some point say magically $250,000 a year I don't think wealth is a factor in your success unless you completely inherit it (e.g. inheriting a business). At the point when you can live in a good and stable home, receive good education and discipline both at school and at home money isn't going to be the deciding factor in your success if it's your success.
Don't get me wrong no one is arguing that money doesn't affect your future of course it does but it's only one factor and a factor with a lot of diminishing returns.
I don't personally see that Bill got where he did due to some exceptional wealth both because I don't consider the Gates pre-Microsoft exceptionally wealthy by US standards and that wealth can only grant you opportunities.
Considering who his parents were in terms of their achievements I'm also not so sure we can claim that Bill Gates without Lakeside would've not have been 'Bill Gates' sure it's nearly impossible to estimate the effect of each individual moment in ones life but if we take it on a macro level I think the character of his parents influenced him considerably more than their wealth.
To make my point even clearer at some point say magically $250,000 a year I don't think wealth is a factor in your success unless you completely inherit it (e.g. inheriting a business). At the point when you can live in a good and stable home, receive good education and discipline both at school and at home money isn't going to be the deciding factor in your success if it's your success.
There is a major difference between a good school and private school with all rich connections. (Especially at this high level.)
It is also true that having money makes it much easier to be more involved in your child’s life.
[deleted]
"Less fortunate" has always read as a straight euphemism to me for "poor" - you've elicited its true, literal meaning for me for the first time.
It shows how grossly unfair the "fortune" of the wealth of parents' is... and it's becoming less and less fair over time.
More than ever, I think it's essential, that as much as possible we move towards ensuring everyone starts with the basics. Health, education... We can't control parenting, but we can create conditions for it.
It's not just fair for the individual, but fulfilling the potential of all makes for a better nation. This would not affect the people already at the top within a nation... except through the contest between nations. Those that do not nuture their human resources will be replaced by those that do.
This is how the USA rose to dominance... and this is how it falls.
It shows how grossly unfair the "fortune" of the wealth of parents' is... and it's becoming less and less fair over time.
More than ever, I think it's essential, that as much as possible we move towards ensuring everyone starts with the basics. Health, education... We can't control parenting, but we can create conditions for it.
It's not just fair for the individual, but fulfilling the potential of all makes for a better nation. This would not affect the people already at the top within a nation... except through the contest between nations. Those that do not nuture their human resources will be replaced by those that do.
This is how the USA rose to dominance... and this is how it falls.
It's not even a question that money helps but the question is how much and how.
It's also a question of what type of success were talking about as there are plenty of people from both less successful and more successful (pre MSFT) family lines that followed in their fathers/mothers footsteps rather than making it on their own.
If you are fortunate enough to live in a good/upper middle class home which values hard work and education and bestows it on you I'm not sure how much additional wealth and or power would be a factor if you are breaking on your own.
Both Bill's parents were very successful and hard working individuals with remarkable achievements I would even go out and say that his mother likely was more accomplished than his father considering the time and circumstances.
So at least in this case I wholly stand behind my assertion that how his parents lived had much more impact on Bill than their bank account.
P.S. I'm pretty sure that both Gates agree with you here is Sr. https://www.youtube.com/watch?v=w_JjmBhsk64 (short)
https://www.youtube.com/watch?v=IcE0L4tG3o4 (long).
And this isn't new he's been advocating for higher taxation, more accessible education health care etc. for as long I can find speeches or opinion/editorial pieces by him.
It's also a question of what type of success were talking about as there are plenty of people from both less successful and more successful (pre MSFT) family lines that followed in their fathers/mothers footsteps rather than making it on their own.
If you are fortunate enough to live in a good/upper middle class home which values hard work and education and bestows it on you I'm not sure how much additional wealth and or power would be a factor if you are breaking on your own.
Both Bill's parents were very successful and hard working individuals with remarkable achievements I would even go out and say that his mother likely was more accomplished than his father considering the time and circumstances.
So at least in this case I wholly stand behind my assertion that how his parents lived had much more impact on Bill than their bank account.
P.S. I'm pretty sure that both Gates agree with you here is Sr. https://www.youtube.com/watch?v=w_JjmBhsk64 (short)
https://www.youtube.com/watch?v=IcE0L4tG3o4 (long).
And this isn't new he's been advocating for higher taxation, more accessible education health care etc. for as long I can find speeches or opinion/editorial pieces by him.
Bill came from old money
That is debatable especially when you think old money e.g. Rockefeller etc.
His dad was hard working from the get go, didn't dodge the WW2 draft like plenty of "old money" people did and worked his arse off to achieve what he did.
As for Bill again I don't see anything where his "came from so called old money" badge would've contributed to his success considerably beyond what an upper middle class family could.
His actions outside of Microsoft also speak greatly to his character and go well beyond the typical SV billionaire or even the "typical" philanthropist.
I think the gates case is unique in terms where you have 2 very accomplished parents both Mary Maxwell Gates and William H. Gates Sr. which were accomplished on their own regardless if they were old money or not.
As for Bill again I don't see anything where his "came from so called old money" badge would've contributed to his success considerably beyond what an upper middle class family could.
His actions outside of Microsoft also speak greatly to his character and go well beyond the typical SV billionaire or even the "typical" philanthropist.
I think the gates case is unique in terms where you have 2 very accomplished parents both Mary Maxwell Gates and William H. Gates Sr. which were accomplished on their own regardless if they were old money or not.
Nowhere in this post do you successfully make the case that he's not old money. You may have demonstrated that he didn't fall victim to many of the tropes that his contemporaries did, but the fact remains he had (a lot) more than most people would at any point in time (including opportunities and contacts).
I still remember the moment when Bill Gates switched from being the "Microsoft guy" (during those times sort of akin to the new Satan) to being the "philanthropist" that he is now. I'd say it's been a very successful bit of public relations for him if this is how you see him now.
I still remember the moment when Bill Gates switched from being the "Microsoft guy" (during those times sort of akin to the new Satan) to being the "philanthropist" that he is now. I'd say it's been a very successful bit of public relations for him if this is how you see him now.
I don't understand why do I need to prove he isn't "old money" old money is a pretty defined term unless you want to use it in the most ambiguous way.
Both of his parents worked (and unquestionably very hard) for a living and while lived a comfortable life it wasn't one of some extreme affluence.
His parents is what we would for the most part consider upper middle class or "working rich" it's not like Bills childhood could be a backdrop to a scene in "all the money in the world" or anything similar.
I've also never considered Gates to be a Satan or anything of the sort regardless of Microsoft's practices I've always have had an admiration of him as well as many other successful people.
Both of his parents worked (and unquestionably very hard) for a living and while lived a comfortable life it wasn't one of some extreme affluence.
His parents is what we would for the most part consider upper middle class or "working rich" it's not like Bills childhood could be a backdrop to a scene in "all the money in the world" or anything similar.
I've also never considered Gates to be a Satan or anything of the sort regardless of Microsoft's practices I've always have had an admiration of him as well as many other successful people.
Its a bit more subtle than that you need to look at the signifiers and not just $$
Bill has a generational qualifier for example and look at his family background and where he went to school.
Bill has a generational qualifier for example and look at his family background and where he went to school.
I wouldn't say Bill was old money. Old money is where neither you nor your parents need to work for a living due to the success of some ancestor. Bill Gates was upper middle class, not old money, and even so is that really necessary and sufficient cause for his success? Like other posters here, I know many people more privileged than Bill Gates was and have done little to nothing with their lives, therefore coming from his parent's level of wealth is not even close to sufficient for success. There are also certain people who have made it to his level of wealth from more humble origins, notably John Rockefeller and Andrew Carnegie but more recently Jeff Bezos, who was middle class, therefore it is not necessary to come from Gate's parents level of wealth either.
If something is neither necessary nor even close to sufficient for success, how can you dismiss someone's success as due to it?
If something is neither necessary nor even close to sufficient for success, how can you dismiss someone's success as due to it?
how can you dismiss someone's success as due to it?
I don't think it's being dismissed as due to it, so much as it's acknowledging the near-necessity of it to attain success.
Gates went to a high school where the parents pooled money in order to buy mainframe time for their kids. Gates was seeing a therapist, which helped him focus and mature faster. He had the support to start a fairly wild venture with a friend.
Gates is incredibly intelligent, focused, disciplined, and was in the right place at the right time.
If I were in his shoes, I wouldn't have succeeded. Not because I lacked the resources, but because I'd have found the idea of writing a BASIC interpreter to be boring and wouldn't have seen it through. But I also probably wouldn't have had access to the technology necessary in the first place...
I don't think it's being dismissed as due to it, so much as it's acknowledging the near-necessity of it to attain success.
Gates went to a high school where the parents pooled money in order to buy mainframe time for their kids. Gates was seeing a therapist, which helped him focus and mature faster. He had the support to start a fairly wild venture with a friend.
Gates is incredibly intelligent, focused, disciplined, and was in the right place at the right time.
If I were in his shoes, I wouldn't have succeeded. Not because I lacked the resources, but because I'd have found the idea of writing a BASIC interpreter to be boring and wouldn't have seen it through. But I also probably wouldn't have had access to the technology necessary in the first place...
You are implying that poor people are a result of poor parenting, this is beyond stupid.
Poor parenting is a result of poverty. It is massively difficult to parent well when you are in financially dire situations constantly, surrounded by other people who are also in dire financial situations, and sending you kids to massively underfunded public schools.
Poor parenting is a result of poverty. It is massively difficult to parent well when you are in financially dire situations constantly, surrounded by other people who are also in dire financial situations, and sending you kids to massively underfunded public schools.
No one implied any such thing and there is a difference between being poor due to lackluster parenting / childhood and not growing up to be Bill Gates.
Families that nurture the value of good education (as in knowledge not a piece of paper) and hard work would quite likely have more successful children this is especially true when you can afford to lead by example rather than just yell do your homework.
Families that nurture the value of good education (as in knowledge not a piece of paper) and hard work would quite likely have more successful children this is especially true when you can afford to lead by example rather than just yell do your homework.
Emphatically agree. No child picks which family they are born into, let alone the circumstances, or the cycles they will have to break in any socio-economic bracket.
Re “rich white kid”
I understand being rich is relevant to this conversation.
But how is him being white relevant? You seem to imply that a white persons accomplishments are less meaningful, solely because they are white.
This feels like casual racism to me, which I don’t think should be acceptable in this type of discussion.
I understand being rich is relevant to this conversation.
But how is him being white relevant? You seem to imply that a white persons accomplishments are less meaningful, solely because they are white.
This feels like casual racism to me, which I don’t think should be acceptable in this type of discussion.
> But how is him being white relevant? You seem to imply that a white persons accomplishments are less meaningful, solely because they are white.
You have the relationship backwards: being white meant no barriers. He never showed up for a meeting to be pointed at the back door or asked whether he was there to apply for the job as janitor or security guard. Nobody assumed he was there to take notes. He didn’t face constant questions about whether he could actually do something or was just “the diversity hire”.
That’s huge, especially when you look at the stats for things like loan or VC approval rates. Starting a company as a white man isn’t easy but it’s still easier than what most other people have to do.
You have the relationship backwards: being white meant no barriers. He never showed up for a meeting to be pointed at the back door or asked whether he was there to apply for the job as janitor or security guard. Nobody assumed he was there to take notes. He didn’t face constant questions about whether he could actually do something or was just “the diversity hire”.
That’s huge, especially when you look at the stats for things like loan or VC approval rates. Starting a company as a white man isn’t easy but it’s still easier than what most other people have to do.
> He didn’t face constant questions about whether he could actually do something
Actually he is being questioned right now in OP's subtle statement that it was his 'rich whiteness' that was responsible for his success.
Actually he is being questioned right now in OP's subtle statement that it was his 'rich whiteness' that was responsible for his success.
Seems like a false equivalence. What were the negative consequences of him being rich? OP laid out what he would have experienced as a minority. If the only negative consequence of being rich is every once in a while you are called on it, how is that at all equivalent to the experience described by OP?
The thread you are in began with a question about him being 'white' and not just rich.
I never stated pure equivalence but I do believe both are examples of racism.
I never stated pure equivalence but I do believe both are examples of racism.
You have it backwards, the "no barriers" mainly came from being wealthy. I'll give a small anecdote: One of my friends is from a very wealthy family. He is a person of color. He was still able to gain admission to an elite boarding school, now works for a prestigious company, is respected by his peers, etc.
Privilege mainly comes from wealth. Of course it is a serious problem in society when certain groups have disproportionate poverty or less wealth, because that indicates some structural cause.
However in the modern day that cause is simply the fact that most people, regardless of skin color, do not move out of their parents' income decile. And when one group is already more economically disenfranchised than other groups, then that economic disenfranchisement will perpetuate itself.
Privilege mainly comes from wealth. Of course it is a serious problem in society when certain groups have disproportionate poverty or less wealth, because that indicates some structural cause.
However in the modern day that cause is simply the fact that most people, regardless of skin color, do not move out of their parents' income decile. And when one group is already more economically disenfranchised than other groups, then that economic disenfranchisement will perpetuate itself.
A recent study found that black men from rich families had notably different outcomes than white men from rich families:
https://www.nytimes.com/interactive/2018/03/19/upshot/race-c...
https://www.nytimes.com/interactive/2018/03/19/upshot/race-c...
Replace "black men from rich families" with "second-generation Italian-Americans from rich families" and you get the same result.
This is not about race, this is about belonging to a small network of Brahmin aristocracy in the US. For example, some people in New England will never invest in your startup (no matter how good it is), if your name does not look like "Landon Jefferson Bayard, III", or some such.
Even if you are white.
This is not about race, this is about belonging to a small network of Brahmin aristocracy in the US. For example, some people in New England will never invest in your startup (no matter how good it is), if your name does not look like "Landon Jefferson Bayard, III", or some such.
Even if you are white.
>Replace "black men from rich families" with "second-generation Italian-Americans from rich families" and you get the same result.
I highly doubt it.
There has been racism against lots of minority groups in the US, but few rise to the hundreds of years long legacy that exists to this day that is racism against African Americans.
I highly doubt it.
There has been racism against lots of minority groups in the US, but few rise to the hundreds of years long legacy that exists to this day that is racism against African Americans.
Additionally, there’s the question of passing: it’s much easier to blend in with a higher status group with similar melanin levels - pick up some clothes, learn some cultural signifiers, etc. That’s just not possible for someone with the disfavored skin color. Even a black kid raised by adoptive parents can’t avoid things like worrying every time they see a police officer.
Offtopic - But this NYT article has a very great interactive design to show the data.
Thank you for your anecdotal evidence and the obvious truism that wealth opens doors.
Black people make 57.50 to every 100 dollars a White person makes. The majority of wealthy people in America are white. 90% of all people lose their wealth by the 3rd generation. Therefore the slim ratio of wealthy black families are going to lose their wealth and it’s going to affect them much more.
The majority Black people have only just started to be able build wealth after Jim Crow, where white people have had hundreds of years.
People enjoy helping people that look like or remind them of themselves phenotypically, therefor even people that became new money, science would suggest will receive more help from the more numerous amount of wealthy white people.
Black people make 57.50 to every 100 dollars a White person makes. The majority of wealthy people in America are white. 90% of all people lose their wealth by the 3rd generation. Therefore the slim ratio of wealthy black families are going to lose their wealth and it’s going to affect them much more.
The majority Black people have only just started to be able build wealth after Jim Crow, where white people have had hundreds of years.
People enjoy helping people that look like or remind them of themselves phenotypically, therefor even people that became new money, science would suggest will receive more help from the more numerous amount of wealthy white people.
Considering black people were still living under Jim Crow just 11 years prior to 1976, it would have been impossible for a black person to enjoy the sorts of privileges that come from having rich and successful parents.
No one is devaluing his accomplishments, they are calling the article out for pretending he’s some kind of special snowflake, when in reality he had been dealt an ideal hand in life.
Articles like this remove all historical context to convince lower middle class people of all races that it just takes dropping out college and faking it to you make it to get what you want. This is not to say that there isn’t some truth to that, but let’s be real about the massive head start Gates got, so we aren’t just ultimately implying that poor people are lazy and deserve their lot in life, because if rich white boy Bill Gates can do it, anyone no matter how poor, unlucky, underfunded their public education or broken their family is can do it too.
I’m not saying people should just whine and accept their bad luck and victimize themselves either, you have to play the hand your dealt to the best of your ability, but articles like this just perpetuate a contextless ashistorical lie to sell to other mediocre neolibs.
No one is devaluing his accomplishments, they are calling the article out for pretending he’s some kind of special snowflake, when in reality he had been dealt an ideal hand in life.
Articles like this remove all historical context to convince lower middle class people of all races that it just takes dropping out college and faking it to you make it to get what you want. This is not to say that there isn’t some truth to that, but let’s be real about the massive head start Gates got, so we aren’t just ultimately implying that poor people are lazy and deserve their lot in life, because if rich white boy Bill Gates can do it, anyone no matter how poor, unlucky, underfunded their public education or broken their family is can do it too.
I’m not saying people should just whine and accept their bad luck and victimize themselves either, you have to play the hand your dealt to the best of your ability, but articles like this just perpetuate a contextless ashistorical lie to sell to other mediocre neolibs.
> they are calling the article out for pretending he’s some kind of special snowflake, when in reality he had been dealt an ideal hand in life.
How are those things mutually exclusive? Gates can be both a special snowflake, which he blatantly is, and have been dealt a great hand. That's the exact sort of combination you might expect to begin with if one were going to have a shot at yielding ~$140 billion in lifetime wealth generation.
Warren Buffett is also a special snowflake that was born into a similarly beneficial scenario.
I don't think I've ever read about a dullard, born into beneficial circumstances, getting to such extraordinary outcomes from something they built.
How are those things mutually exclusive? Gates can be both a special snowflake, which he blatantly is, and have been dealt a great hand. That's the exact sort of combination you might expect to begin with if one were going to have a shot at yielding ~$140 billion in lifetime wealth generation.
Warren Buffett is also a special snowflake that was born into a similarly beneficial scenario.
I don't think I've ever read about a dullard, born into beneficial circumstances, getting to such extraordinary outcomes from something they built.
Donald Trump
We don't live in a world where your race doesn't matter, unfortunately.
For most people it really doesn't matter, including most people in powerful positions. But we keep telling ourselves it does, unfortunately.
Ha. That seems like a good joke.
Try doing online dating as a White Guy and then doing it as an Asian guy: I can 100% assure you the response rate and experience is going to be wildly different.
Try doing online dating as a White Guy and then doing it as an Asian guy: I can 100% assure you the response rate and experience is going to be wildly different.
Would you get more responses from Asian girls on these sites though?
[deleted]
I'm not talking about dating prospects though.
It absolutely matters. Maybe it doesn’t matter to YOU, and that’s great, but it absolutely matters.
Racism is alive and well in this world, and saying it doesn’t exist does nothing to defeat it.
Racism is alive and well in this world, and saying it doesn’t exist does nothing to defeat it.
The data keeps telling us too, maybe we should listen to it, even if it makes you feel uncomfortable.
[deleted]
If race “doesn’t matter” to rich people, but is rather used as a tool by the rich to cause in fighting amongst the powerless (which is true and seems to be what you’re implying), then in fact race does matter as it affects how the powerless relates to each other. So racism matters, so you’ve contradicted yourself.
You are not aware of this certain concept called 'Social Capital', if you have disproportionately high successful people in your community, you are likely to succeed due to sheer community inertia.
You also get to enjoy a lot of otherwise impossible social biases in your favor. People tend to perceive your success to come naturally and hence set you up for it.
Other benefits include access to a network of successful people all over the economic ecosystem. That in itself is a huge boost to anything you would do.
You also get to enjoy a lot of otherwise impossible social biases in your favor. People tend to perceive your success to come naturally and hence set you up for it.
Other benefits include access to a network of successful people all over the economic ecosystem. That in itself is a huge boost to anything you would do.
In fact, reality is the exact opposite as what you describe. The more you know right? Let me educate you, in africa, whites are preferred in sales meetings because empirical evidence shows that simply having a white person present increases the chances of a sale.
So in REALITY elon musk had an even bigger advantage being white in africa than whites do in america.
You are now smarter and hopefully less racially bias
So in REALITY elon musk had an even bigger advantage being white in africa than whites do in america.
You are now smarter and hopefully less racially bias
He called MITS' president from his dorm room and got taken seriously. To achieve that requires a certain amount of salesmanship, but also a particular set of manners and polish.
Think a black kid - even a wealthy black kid - with a thick alabama accent would have had the same chance?
Think a black kid - even a wealthy black kid - with a thick alabama accent would have had the same chance?
It is about class, and old-boy network, not skin color.
Don’t worry, we’re used to it. (I’m a straight white male)
Not necessarily — I know several people who grew up in even more privileged households and never did anything useful with their lives.
Which is a story for the most of the priviliged children as they don't have too much motivation to excel in anything.
Wealth is not as great a motivator as people think and motivation and ambition exist in a broad spectrum. Most people want more money, yes, and will work harder to get it. But in order to "excel" (like Gates did) requires a different kind of ambition. It's a very complex issue, especially because we tend to mix professional success with wealth and because growing in a wealthy family grant you certain expectations, education and networks of friends that steer you toward certain goals.
> Wealth is not as great a motivator as people think and motivation and ambition exist in a broad spectrum.
On the contrary, it’s a demotivater. Hunger, both literal and figurative, is the greatest motivator. It’s not unheard of to find it in the affluent either, just not as common.
One other thing I’ve noticed is that the figuratively hungry never seem to be satiated. I say that as a complement. It doesn’t matter how they started, they won’t rest on their laurels as there’s more to conquer.
Combining that hunger with the resources and support network of a (relatively) affluent family is a surefire recipe for success.
On the contrary, it’s a demotivater. Hunger, both literal and figurative, is the greatest motivator. It’s not unheard of to find it in the affluent either, just not as common.
One other thing I’ve noticed is that the figuratively hungry never seem to be satiated. I say that as a complement. It doesn’t matter how they started, they won’t rest on their laurels as there’s more to conquer.
Combining that hunger with the resources and support network of a (relatively) affluent family is a surefire recipe for success.
There are tons of rich kids that don't even get to an iota of Bill Gate's success. You may claim that it's necessary (despite middle class Jeff Bezos as a counter example) but certainly not that it's sufficient. There are a lot more variables that must go into the equation. Dismissal based on initial social class is prideful, slothful, and envious excuse-making. That's 3 of the 7 deadly sins. Repent.
There are in fact a vast number of counter examples demonstrating it's not necessary to come from wealth to become a billionaire (no doubt it can be helpful under the right circumstances). The Forbes 400 is filled with examples and always has been.
A broad spectrum of recent well-known examples:
Jan Koum, Paul Allen, Steve Jobs, Sergey Brin, Jim Clark, Jerry Yang, Craig Newmark, Sheldon Adelson, David Tepper, Howard Schultz, Larry Ellison, Shahid Khan, John Paul DeJoria, Harold Hamm, Jensen Huang, Jack Dorsey, Ev Williams, Steven Spielberg, Oprah Winfrey, Marc Andreessen, Kirk Kerkorian, Carl Lindner, Ralph Lauren, Alec Gores, Ken Langone, Carl Berg, Thomas Peterffy, Michael Jordan, JR Simplot, Mark Cuban.
A broad spectrum of recent well-known examples:
Jan Koum, Paul Allen, Steve Jobs, Sergey Brin, Jim Clark, Jerry Yang, Craig Newmark, Sheldon Adelson, David Tepper, Howard Schultz, Larry Ellison, Shahid Khan, John Paul DeJoria, Harold Hamm, Jensen Huang, Jack Dorsey, Ev Williams, Steven Spielberg, Oprah Winfrey, Marc Andreessen, Kirk Kerkorian, Carl Lindner, Ralph Lauren, Alec Gores, Ken Langone, Carl Berg, Thomas Peterffy, Michael Jordan, JR Simplot, Mark Cuban.
You're right, being rich initially isn't a prerequisite of being rich later on, but it certinaly does help. If you were look at percentages of those who came from haves and have nots in a 400 person list, how would that turn out? You listed < 10%. If we expanded that list to something like the Forbes 10,000 what would that look like?
When I read "The Millionaire Next Door", I remember they actually found that the people who become wealthy actually tend to come from non-wealthy backgrounds. They hypothesized that later generations were more likely to have grown used to a consumption based lifestyle, and also felt freer to pursue non-lucrative but more appealing careers. For example, someone without a ton of money is more likely to go on and create a successful trucking business than get an art or history degree. They are also less likely to splurge on the new iPhone, car, etc., even after they manage to accumulate lots of wealth.
> If anything, the story about Bill Gates shows that your own success will change your childrens' future.
Of course, but think of all the rich kids and trust fund babies that end up doing nothing useful with their lifes. I think Gates family background was incredibly useful in his career (as is usually the case with most entrepreneurs) but still decided to do things that were out of the comfort zone for a kid in his situation. Most of the other kids would have opted to follow a career in finance or law and use his family name and connections to carve a comfortable "successful-in-appearence" professional life.
Wealth is not as great a motivator as we tend to think. Social and family expectations are much more important, especially in rich and upper middle class families, in determining what to do with your life. Gates took and odd bet. He could because the stakes weren't that high thanks to family money, and it paid off.
Of course, but think of all the rich kids and trust fund babies that end up doing nothing useful with their lifes. I think Gates family background was incredibly useful in his career (as is usually the case with most entrepreneurs) but still decided to do things that were out of the comfort zone for a kid in his situation. Most of the other kids would have opted to follow a career in finance or law and use his family name and connections to carve a comfortable "successful-in-appearence" professional life.
Wealth is not as great a motivator as we tend to think. Social and family expectations are much more important, especially in rich and upper middle class families, in determining what to do with your life. Gates took and odd bet. He could because the stakes weren't that high thanks to family money, and it paid off.
Who picks what family they're born into?
Are there enough privileged kids that actually do something with it for a greater good? Growing up with comforts can make you just as soft.
Don't get me wrong, I've always enjoyed Steve Jobs having fun at Bill Gates' expense. Still, if someone works hard to have a track record of helping others maybe it's something.
There's no need to venerate someone, but there's no need to take shots at people doing more than others too.
Are there enough privileged kids that actually do something with it for a greater good? Growing up with comforts can make you just as soft.
Don't get me wrong, I've always enjoyed Steve Jobs having fun at Bill Gates' expense. Still, if someone works hard to have a track record of helping others maybe it's something.
There's no need to venerate someone, but there's no need to take shots at people doing more than others too.
> rich white kid
Excuse me, but was Bill Gates back then or is the article right now being discriminative against the people without the privileges he had? The article rather depicts him as an influential figure that encourages all people to have "self-confidence", not confidence in their wealth or whiteness.
This comment, on the contrary, suggests people with the privilege to think twice before establishing any business, which is rather discouraging for those people, and detrimental for the community's well-being.
Excuse me, but was Bill Gates back then or is the article right now being discriminative against the people without the privileges he had? The article rather depicts him as an influential figure that encourages all people to have "self-confidence", not confidence in their wealth or whiteness.
This comment, on the contrary, suggests people with the privilege to think twice before establishing any business, which is rather discouraging for those people, and detrimental for the community's well-being.
>rich white kid
This is incredibly fatiguing. This isn't Reddit, or tumblr. Strive to be better.
This is incredibly fatiguing. This isn't Reddit, or tumblr. Strive to be better.
OK, I'll bite: How many other rich or richer kids did what Bill Gates did?
Ill bite, what power of poor kids could have done what Bill Gates did or more if they had an opportunity? We could do this forever. For every rich kid who did nothing line, I'll match you a poor kid who has busted their butt and will still get nothing.
Good genes!
Capital helps. Being in the right place at the right time helps (along with connections).
Being brilliant, having a vision, and working hard for decades helps significantly more than all of the above.
Being brilliant, having a vision, and working hard for decades helps significantly more than all of the above.
[deleted]
omg that TRS-80 wish someone make a modern day one, for raspberry-pi
[1]: https://www.thocp.net/companies/microsoft/microsoft_company....