Re:Entrepreneurs who regret starting businesses
by brianwawok on Tuesday April 04, 2023 @12:32PM
(#35442259)
Isn't the trope that the first generation makes the wealth, the second generation maintains it, and the third spends it?
True, but those throws are still expensive, and the prize is worth less than the cost to play. This is what downward mobility looks like. It's a kid who grew up wealthy, but ended up upper middle class because they weren't as lucky/ambitious/talented as their parents. It happens a lot, but it isn't dramatic, and the outcome isn't "bad," so it doesn't get much attention, but downward mobility absolutely happens.