This article from Seth Stephens-Davidowitz describes a paper (here) that examines who are the people in the top 0.1% of earners in the US, making at least $1.58 million per year. It was interesting to me in that many of those people were not high-status jobs, but rather owning unsexy businesses such as a car dealership or a beverage distribution operation. Obviously, this has implications for how we structure society, but it could also be a good thing to keep in mind for those interested in earning to give- owning a plumbing company might be a better route for some than trying to make it big on wall street.
An interesting thought, but I think this overlooks the fact that wealth is heavy tailed. So it is (probably) higher EV to have someone with a 10% shot at their tech startup getting huge than one person with a 100% chance of running a succesful plumbing company.
https://www.nytimes.com/2022/05/14/opinion/sunday/rich-happiness-big-data.html
This article from Seth Stephens-Davidowitz describes a paper (here) that examines who are the people in the top 0.1% of earners in the US, making at least $1.58 million per year. It was interesting to me in that many of those people were not high-status jobs, but rather owning unsexy businesses such as a car dealership or a beverage distribution operation. Obviously, this has implications for how we structure society, but it could also be a good thing to keep in mind for those interested in earning to give- owning a plumbing company might be a better route for some than trying to make it big on wall street.
An interesting thought, but I think this overlooks the fact that wealth is heavy tailed. So it is (probably) higher EV to have someone with a 10% shot at their tech startup getting huge than one person with a 100% chance of running a succesful plumbing company.