alt Hacker NewsIn a thread about survivor bias, and you fall for the same trap. How many people coming from wealthy background end up failing?
Take Bill Gates, his father cofounded a law firm, and his mother was a board members of several firms. That is a very wealthy background, but not outrageously so. How many people of the same level of wealth became successful businesspeople? It's said that his mom being on the same board as IBM's CEO at the time was a more instrumental factor to his eventual success than his family's wealth, and his own effort of course.
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sho_hn • today at 2:16 AM
> but not outrageously so
Compared to 99.99% of the 8.3bn people on the planet, yes.
HN never ceases to amaze me with its conception of what "wealthy and successful" means.
> It's said that his mom being on the same board as IBM's CEO at the time was a more instrumental factor to his eventual success than his family's wealth, and his own effort of course.
This sounds a lot like "his family's wealth was a more instrumental factor than his family's wealth" since "being on a board" is pretty rarified air. It's not Gates-himself-level wealthy, but what percentile is that? 90th? 95th? 99th?