11 yo and his friends are always coming up with ideas for beating the system. I told him that the really big money is not in little tricks like that, but in making things that help people.
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Very successful startups often turn out in retrospect to have beaten the system in some sense. But that was not the path that led to them. Their founders weren't asking "How can I beat the system?" but rather "What would be cool to build?"
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Interestingly, the naive belief that money is made primarily by beating the system is shared both by people who are eager to do it, and by people whose ideology is based on opposing it. The difference is that many of the former eventually learn they're mistaken.
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Adding value is normally about helping people so this is good to see!
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Pls tell the 11 yr old, at modern capitalism society , just leverage up, make things big, u get rich even ur firm fail
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Disingenuous when YC actively encourages breaking the law by ignoring regulation. All crime is “I want to build something cool” too the difference is if you have integrity and work within the law or not.
@airbnb founders knowingly committed crimes for example.Thanks. Twitter will use this to make your timeline better. UndoUndo
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My usual strategy, or that's how my mind works is: If this is A and this is B: how can I use and create win-win for A & B both to make C - which adds value to A & B. Adding value to current systems, is much better than investing in and creating a new system.
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Of course, now I'm v curious to understand some of the ideas you 11 year old has been putting together - anything you can mention without outing?
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It's easy to see how you can make a quick buck by cheating. The path to wealth creation is more hazy, at first.
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When one has to navigate the existing system, to solve a problem, without beating it but slowly changing the system for the better, makes a perfect combination for a successful and profitable business !
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Interesting. Had the mental model that bureaucratic arbitrage existed as an opposite opportunity to rent-seeking on the other side of regulation. With people like Travis Kalanick being the stars of that game
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Do you consider the following to be beating the system? 1. Exploiting inefficiencies in the system ( arbitrage ) 2. Regulatory capture 3. Rent seeming
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How do people skip the create value/beauty part of the equation? Not a meaningful existence, IMHO.
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