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Re:The stock market is the cheapest since 1980 by ryandrake on Monday December 28, 2020 @01:53PM (#25561969)
As a parent with a kid, this inevitable bifurcation into "dirt poor" and "ultra rich" is obvious, and on every parent's mind these days. This is making school life for kids punishingly competitive. It's a-few-winners-take-all, with most of the winners already pre-determined by being born rich. Every middle class parent is taking extreme steps to get their kid a chance of being one of those winners.

When I was a kid, there was college+professional job out there for the A and B students, and there were jobs at the factory or mill out there waiting for the C and D students. Now, it's success for the A++ students with the "right" extra-curriculars (and for the too-rich-to-fail kids), and unemployment/meth/prison for the remaining A, B, C, and D students.

Re:The stock market is the cheapest since 1980 by nostrademons on Monday December 28, 2020 @02:20PM (#25562261)
I'm seeing this, but the irony is that this is a losing strategy for many parents. I know a ton of people who internalized this lesson, got a Ph.D, and have been stuck in post-doc limbo for a decade. Or they went to law school and washed out when they realized they hated it (at least one of whom is now dead from what I think was suicide), or became a dentist and had their practice eviscerated by COVID.

Meanwhile I did basically no homework between the ages of 11-24, graduated 2 years late from college after flunking a couple courses, spent all my "free" (= homework/class) time reading and fiddling around with computers, and ended up in one of those hot jobs. My parents freaked about me ever having a job or living on my own - my mom sent me a graduation card that said "Some call it graduation. We call it a miracle." I matched her final salary (after 35 years in the workforce) in my first year out of college.

IMHO, the best skills you can teach your kid these days are: 1) supply & demand 2) compound interest 3) how to read what's "hot" and what people really care about 4) how to form a mental model of what's in someone's head and trade with them so they get what they want and you get what you want 5) statistics and 6) whatever labor-saving technologies of the day can make things more efficient and throw people out of work. That was software when I was a kid; it's probably things like deep neural nets and robotics now, and may be biotech/nanotech/material science by the time kids today get into the workforce. Lots of middle-class parents fight the last war and prepare their kids for the world they entered as 20/30-somethings. They need to stop stressing over economic realities now (which will be totally different by the time our kids enter the working world) and teach general principles for being able to look around you and make sense of the world, then trust the kid to be able to do that on their own.

Re:The stock market is the cheapest since 1980 by marvin on Monday December 28, 2020 @05:32PM (#25564044)
Completely off topic, but: Do you have a blog or a twitter feed? I've been reading your comments on HN for a while, and you often have insights and observations that I find valuable.
Re:The stock market is the cheapest since 1980 by nostrademons on Monday December 28, 2020 @06:11PM (#25564422)
Not yet, but I've been thinking of starting blogging. Wanted to get a little more established in my team at work first (I just started a new job 6 months ago), plus take care of some family stuff. Thanks for your interest!
Re:The stock market is the cheapest since 1980 by tonyedgecombe on Tuesday December 29, 2020 @02:20AM (#25567562)
>IMHO, the best skills you can teach your kid these days are...

But it sounds like you just lucked into your career because you enjoyed computers.

Re:The stock market is the cheapest since 1980 by powerapple on Tuesday December 29, 2020 @03:52AM (#25567970)
How do you know they would be better if they didn't get a Ph.D and stuck in postdoc? It is not like that's the worst they can have. The alternative of failure may be another million possible way of failure.