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A comment on Can a $310M startup avoid due diligence?. Parent comment

Re:Can a $310M startup avoid due diligence? by missedthecue on Monday February 07, 2022 @03:33PM (#30250655)
If you did intelligence tests on 1000 American centi-millionaires and 1000 randomly selected Americans, do you think the difference in scores would be undetectable?
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Re:Can a $310M startup avoid due diligence? by thr0wawayf00 on Monday February 07, 2022 @04:48PM (#30251781)
Yes, because a tremendous amount of wealth is inherited. The idea that the vast majority of wealthy Americans are self-made is a myth.
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Re:Can a $310M startup avoid due diligence? by missedthecue on Monday February 07, 2022 @05:04PM (#30251991)
80% of US millionaires are first generation.

https://www.washingtonpost.com/wp-srv/style/longterm/books/c....

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Re:Can a $310M startup avoid due diligence? by nsv on Monday February 07, 2022 @05:46PM (#30252487)
Big difference between millionaire and centi-millionaire or billionaire though. You can save a million dollars just by making the median American salary and making large contributions to your 401k over 40 years, due to the power of compound interest.
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Re:Can a $310M startup avoid due diligence? by webmaven on Tuesday February 08, 2022 @02:52PM (#30263640)
> 80% of US millionaires are first generation.

Apples and oranges. Most of the wealth is not most of the wealthy people.

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Re:Can a $310M startup avoid due diligence? by majani on Monday February 07, 2022 @05:30PM (#30252284)
Inheritance doesn't start and stop at money. There are other inherited traits that may influence the scores of the people in the study.
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Re:Can a $310M startup avoid due diligence? by speleding on Tuesday February 08, 2022 @03:49AM (#30256189)
Intelligence is hereditary too, in large part, so that would lead to the opposite conclusion right?
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