Usually we talk about falling social mobility as a problem of the poor staying poor. But America also has a problem with the rich staying rich. I wrote about how elites are getting better at preserving their status for their (mediocre) children.https://www.huffpost.com/entry/the-glass-floor-is-keeping-americas-richest-idiots-at-the-top_n_5d9fb1c9e4b06ddfc516e076 …
This story starts with an anecdote about Zach Dell mentioning that he’s an analyst at Blackstone even though he’s 22 with “little work experience” Why is that odd? Analyst is an entry-level position. Most firms recruit analysts straight out of undergrad
