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by aljp 2587 days ago
A million times more risky bet? By what measure? The risk to his livelyhood? His savings? That kind of hyperbole might help your argument, but I think it's wrong in a few regards. If he came from a lucrative job in the finance industry that means that he had a position to fall back on if it didn't work out, he would have had plenty of capital to bankroll his business without hefty, high-interest loans. His interest on those loans would almost definitely be lower because he is less risk to the lender. He would also have had connections in the business lending industry but I think that is getting too specific for my argument.

Compare this to someone who has a background in retail or a warehouse worker, the personal and financial risk of starting a business is arguably higher. In order to accrue the savings to start their business they would have to work far more hours, and if it doesn't work out they may never have the opportunity to try again. They have less job security if the business fails. They have less savings, and may completely deplete their savings and incur a large debt if it doesn't work out.

I'm not saying that Jeff Bezos didn't earn some of his keep, or that Amazon doesn't provide a lot of service, but I would say the risk vs reward of his business is atronomical compared to the average business startup. The entire idea that he took a risker bet starting a business than a minimum wage worker is, I think, totally wrong, it's utterly ridiculous, and lacks any perspective on what minimum wage workers have to stress about.

1 comments

Exactly, we should just be upfront when we say that his success is due to both luck and hard work. Hard work is a given, and many people do that. But to really succeed you need a good dose of luck as well, and luck is not something you "work" for
Hard work is the most idiotic concept ever. If one works hard,he usually stays in the same place for 30 years. One needs to work smart,not hard...