Thread by @balajis

It’s actually pretty important to have an agreed-upon quantitative framework for teasing out the relative contributions of luck vs skill vs hard work vs initial conditions.

Gets to core questions about what is inherited privilege vs actual accomplishment.

We recognize that athletes, mathematicians, models, and singers all have intrinsic talents.

Anyone can pick up a ball, pencil, mirror, or microphone and quickly see if they have comparable gifts.

This makes people accept nonuniform outcomes. No entitlement to a Super Bowl Ring.

For anything involving others, though — especially management or finance — many believe no skill is involved. It’s all lucky, lazy fat cats.

I don’t believe we can convince them they are wrong.

I believe we need to make them CEOs & investors too. Make it easy to try their luck.

From afar many seem to think CEOs just keep their feet up on a desk. Or that it’s easy to multiply money with no risk.

If this is the case, by reducing the capital cost to be CEO and investor, anyone can prove how easy it is by doing it.

And thereby benefit themselves & others.