A comment too good to let it fade away

Anonymous writes at Whiskey’s:

There is a concept of third generational decline. The idea being that among successful people the first generation is aggressive and talented. They typically work very hard and build a business, quite often in industries that are very unglamorous or have a low social status. Their children, if they inherit talent, are less ambitious and go into professions that require more education but less risk and work in order to succeed. Examples are doctors and lawyers. The third generation, having neither the will nor the ability then drifts into degeneracy fueled by daddy’s credit card.

Women by nature come in at stage two of this cycle. Vary rarely do you see successful first generation women. Generally speaking, most of these women had a father who put them through a good college which then allowed them to move into corporate life. None of these women get in at the ground level. They eschew start ups due to the risk involved rather preferring to try and take over existing businesses with a combination of talent and privilege. Worse, many of these professions such as doctors, lawyers, managers are ones where you have to be hands on in order to get paid. Owing a string of fast food franchises is messy and complicated but eventually you can hire someone to run the day to day operations. Entrepreneurs make money by owing a business or leverage not by billing $300 per hour and working 60 hours a week.

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