How to get wealth: Entrepreneurship versus Employment

How to get wealth: Entrepreneurship versus Employment

I always say that there is a lot of ‘survivorship’ bias in entrepreneurship. Wealth is a different matter entirely. People make the mistake of thinking that there is always a direct correlation between wealth and entrepreneurship, I tell them that if you plot the data points of all failures, there is probably more correlation between

I always say that there is a lot of ‘survivorship’ bias in entrepreneurship. Wealth is a different matter entirely.

People make the mistake of thinking that there is always a direct correlation between wealth and entrepreneurship, I tell them that if you plot the data points of all failures, there is probably more correlation between failure and entrepreneurship.

I have relatives who became very wealthy from investing savings from work. Others who became very wealthy by leveraging networks from their long careers in employment. I was the tool they used to work outside while they were inside working and building those careers. I am not even as rich as a fraction of their wealth.

Where I made the greatest mistake was not leveraging on those same networks they built, I decided to build mine to prove a point. 20+ years later, I realized that maybe they were right when they wanted me to “work for them” rather than “hustle”

Google and Facebook creates new millionaires daily. They are not their partners like us outside but their employees or acquihires. Enjoy the tweets…

 

What are your thoughts?

 

Editor’s Note: Intro paragraph was written by Swifta CEO Victor Asemota and originally appeared here. Tweets by @Gidimeister.

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