1/ Here are some REALLY interesting findings from a controversial empirical paper asking: *WHY do some people become ENTREPRENEURS?* Of the many findings + hypotheses, a few stand out -SIGNALING theory -REJECTING a system that REJECTS them...
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Replying to @wolfejosh @BarbarianCap
I'm an entrepreneur. Why'd I become one? Simply because I though I could earn more and achieve higher status through entrepreneurship than wage slavery. I wasn't rejected by the system (I had a good job). Most great entrepreneurs have good jobs (Bezos at DE Shaw is an example).
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Totally. Plus - maybe you meant it by higher status - more freedom (pick your projects, time off), no bosses to report arbitrary KPIs to. Much of this applies to voluntary freelancers as well, which is the logical next step for many high achievers in my field.
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If we wanna add economic theory for fun: if employee contribution is Pareto the highest achievers have a huge incentive to be outside of the system.
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As Taleb would say, economic theory and academia follow reality, but yes I agree. It's maximally efficient for the super talented people to chase long-term market efficient processes (entrepreneurship) over random less market efficient ones (being selected as CEO of GE).
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(Great example of teaching birds how to fly by the way)
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