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SforSingularity comments on The Twin Webs of Knowledge - Less Wrong
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I can think of 6 of my friends who became multi-millionaires at a young age. 4 of them got wild lucky breaks with stock options; 1 of them inherited it; 1 of them worked for 10 years to build a large company starting from nothing, which I think he still owns 50% of (the other 50% being owned by his initial angel investor).
So, 5 out of these 6 millionaires got there almost completely by luck. Ironically, at least 2 of these 5 are absolutely convinced that anyone in the US who is smart and works hard will become a millionaire.
that 5 of your friends all got very lucky seems very unlikely to me. Perhaps you have a biased sample of intelligent, motivated friends (i.e. more intelligent and motivated than average).
Perhaps Phil prefers making friends with people who are already millionaires.
It was not just luck in the stock-options cases. They wouldn't have gotten lucky if they weren't capable, motivated people. So, biased sample, yes. But, still, lucky.
saturn - No, I didn't initially know that they were millionaires.
how do you know? Do you have 5 other capable, motivated friends who shot for millionairedom and failed over and over again?
Which two?