The average American is not an unexpected $400 bill away from bankruptcy. This has been debunked countless times. Per the US government's own detailed statistics (BLS), the median household has $1000 per month leftover after all ordinary expenses. That's literally money available to piss away on whatever after all the basic lifestyle expenses, so it will definitely cover a $400 expense.
Americans have a lot of discretionary income. While there is a part of the population that cannot afford an unexpected $400 expense, that only applies to 10-15% of the population, per Federal Reserve studies.
Am American. Did go bankrupt. Bill was $4k. Hospital trip.
You’re quoting the fed and seem a little out of touch with the realities that most Americans face on a day to day basis. I didn’t grow up in a bad part of town. I’m a successful programmer.
I am probably more in touch with that reality than most people here. I have decades of first-hand experience with the economics of being poor in America, and had to dig out of holes much larger than $4k. Never went bankrupt, though I came close once. I am financially comfortable now but I still have a lot of contact with that world, and am familiar with their finances.
The Federal Reserve and BLS data accurately reflects the realities average Americans face day to day in my experience. Individual situations are always somewhat unique and varies a bit depending on where you live in the US, but the statistics are broadly correct.
Also Jeff Bezos was born to a high school attending mom who worked as a secretary and went to night school after she quickly became a single mom - he built a rocket company
I honestly don't understand. If your point is someone who has only worked jobs for minimum wage is never going to suddenly start a rocket company I'd say you're correct. Especially if someone built or found their safety net on their own, I don't think we should begrudge them having it.
How do you think this works? Do you think 'anyone can do it' means winning the lottery? It means working really hard, getting lucky along the way, and being smart - that likely means getting into finance if it's the 80's and early 90's and tech if it's late nineties and aughts. It doesn't happen overnight.
The reality is, though, that you don't have to be born to millionaires to be one of the richest people in the world.
Musk was a co-founder. He joined the company as effectively employee 4. He became chairman of the board after employee 3 (including the two original co-founders) and was the primary designer of the Roadster from that early point. He basically bankrolled the entire original set of funding (around 90% of it).
The settlement just said that they could call themselves founders. Equally, a settlement could've also been reached that said that everyone involved could call themselves "buttholes".
What doesn't change regardless of that settlement is the fact that Musk didn't actually found (or "start" if folk wanna get all nitpicky bEcAuSe SeTtLeMeNt SaYs So) the company, invested a year after it was founded, and didn't become CEO for another four years.
First, there's a difference between bringing someone onboard the day after incorporation and the timeline I mentioned. Second, what are you bringing your friend onboard for? Were you collaborating on this idea with them before you incorporated? Or did you bring them on because you realized you needed more money (eg, Musk)?
Early investor is what he was, along with chairman, then CEO, but it's disingenuous to call him a founder. The settlement you referenced is really just dick swinging.
The legal result of the settlement is that Musk can call himself a (co)founder, and so can Straubel & Wright. Even Eberhard agreed to that.
You may personally feel he's not entitled to the title, but that's just it, a personal feeling. He's literally legally entitled to have this title. Why contradict people on the internet, and say "actually, Musk is not a founder of Tesla"? If anything, it is (right now) disingenuous to claim he is not a founder, given that maybe not all people know the full history and some may believe that he didn't (legally) earn the title.
Legal isn’t some gotcha. He is entitled. But he wasn’t a founder of Tesla.
I think pg would agree. He’s made the distinction in the past, and he knows more about startups than pretty much anybody. You can’t onboard a founder; it’s not a personal feeling, and some legal ruling doesn’t change that.
Americans have a lot of discretionary income. While there is a part of the population that cannot afford an unexpected $400 expense, that only applies to 10-15% of the population, per Federal Reserve studies.