Normally @paulg is a very precise guy. Claiming that "startups are for rich kids" is not precise. You could say "basketball is for tall guys" is false and find counterexamples to "invalidate the claim." However, that does not deny the HUGE advantage of height in basketball.
Height in basketball is a bad analogy, because its value increases something like linearly, whereas in startups it's more of a threshold: growing up really poor is a huge disadvantage, but there's not much advantage in being rich rather than middle class.
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This is a bad example. Height in basketball also has value up to a threshold. There are large diminishing marginal returns after being about 6'9 currently in the NBA.
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That’s not necessarily true. The value of height only increases linearly if accompanied by skill which is obviously negatively correlated to height in b-ball. I also think it’s wild to say the wealthy aren’t advantaged in any entrepreneurial field vs anyone not wealthy.
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How is it different? Let's define the following for basketball (wild guesses) - poor: 5'2" (it's just not happening) to 5'9" (maybe) - middle class: 6' 2" -ish - rich: 6'6" and taller
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Sure, you can be 5'9" and play basketball. And of course, the analogy is not perfect because height is limited. Nevertheless, let's assume that reflexes, aim and speed are evenly distributed over height. This chart speaks for itself.pic.twitter.com/NDVDpzEO4e
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I don’t even get the argument here.
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Mine: your economic background has a huge influence on your chances of startup success, just like your height has a huge influence on your odds of NBA success. There is a "no chance" threshold and a "significantly better odds" threshold in both.
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Sorry
@paulg the data is against you on this one. http://www.tothemean.com/2014/08/31/height-contributions-in-nba.html …Thanks. Twitter will use this to make your timeline better. UndoUndo
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Startups are for ppl with enough money to think they won’t live on the streets if they fail
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Which probably technically is a very small percentage of people who have the skills to make a success of a startup. Because those same skills make you employable. So if you fail you can just take a job at another company again.
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To launch a startup, the only thing you need access to is a free public library. Anyone can do it in the USA.
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Uh-huh, and is the public library going to cover the costs for registering and incorporating that business?
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