Re:Is success tied to having rich parents?
by xboxnolifes on Tuesday February 15, 2022 @10:53AM
(#30348109)
It depends what you are measuring as the risk. The risk of lowering your quality of life may decrease with wealth, but the risk of your business failing likely stays roughly the same. Thus, more appetite for risk.
Re:Is success tied to having rich parents?
by aqme28 on Tuesday February 15, 2022 @10:57AM
(#30348147)
Yes, that's the implication.
E.g. Poor and rich alike are at risk of losing the capital they put into the business. For the rich that might be daddy's money, while for the poor that might be their life savings. Both are at risk of being unemployed and without healthcare. For the rich that might be fine, but for the poor that could be life-threatening.
Sigh.
No, it's not an appetite for risk. It's that those risks get less risky.
People become more "risk tolerant" when those risks are less of a threat to them, their survival, their future, etc.
That's a little like saying "Rich people eat at more expensive restaurants than poor people because they have the appetite for it." No, they don't. They have the same appetite as a poor person. They just have more ability to pay for the better restaurant.
Duh.