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/biz/ - Business & Finance

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1636761 No.1636761 [Reply] [Original]

>the poorest people are in the finance seciton

really makes me think

>> No.1636773
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1636773

>>1636761
and the others are statistical lottery winners i presume?

>> No.1636794

>>1636761

Because no one gives a shit about 'finance'. Finance isn't sexy. Snapchat, instagram and Facebook is the shit - it's what the sheeple care about, being able to show off their shallow and vainglorious lives.

>> No.1637972

There's more money in starting a business.


>>1636794
A claim by a lot of smart people in the VC world is that a majority of smart college grads head to Wall St because of its allure, rather than starting companies that impact the world.

Peter Thiel in Zero to One claims that this is a sign of something he calls 'indefinite optimism', where people flood to industries like law and finance. Whereas 'definite optimism' leads people to study STEM and seek to make a tangible impact.

The founders of the companies you mentioned - besides Evan Speigle (Snapchat) which I'm not sure about - wouldn't be considered power users of their products.

Zuckerberg was apparently considered kind of a programming prodigy at Harvard and Kevin Systrom (instagram) was a DIY hustler throughout his life.

The ex - Wall St blogger Financial Samurai talks about this, and his inability to buy his $4 million dollar dream home in Hawaii with his savings, concluding that being an entrepreneur is the best path to making money.

Here's the post: http://www.financialsamurai.com/bankers-techies-and-doctors-youll-never-get-rich-working-for-someone-else/

If you're plan is to make money investing, here's a quote from another post:
>It took me 16 years to build a portfolio that generates over $200,000 a year in income. It took only four years to build the same income blogging. Why?

Martin Shkreli also talks about this.

tl;dr: Plenty of people get into finance but more money is in building something people love.

I like finance as much as the next guy here (or at least I used to). I've read books on HB and IB's. I've watched hours of hedge fund manager talks and keynotes. The first job I ever really wanted as an adult was to work at an investment bank.

It's just not the path to make the most money.

>> No.1637985

>>1636761
30 under 30 is bullshit. It includes celebrities and useless people that shouldn't even be on the list.

>> No.1638215

>>1637985
I'll have to retract some of what I said:
http://www.marketwatch.com/story/finance-not-tech-is-driving-growth-in-us-billionaires-2016-02-25

And I've also read that banking makes more millionaires than any other profession (though obviously this wouldn't include starting your own business)

Still, overall it's clear that entrepreneurship wins at least imo.

>> No.1638227

>>1638215
Are you planning to go down the path of entrepreneurship?

>> No.1638239

>>1638227

Yes but I'm currently stuck in a Big 4 audit job I desperately want out of..

>> No.1638240

>>1637972
>Plenty of people get into finance but more money is in building something people love.
no shit

>> No.1638248

>>1638227
I don't know. I've researched it more than most people. Probably like the 1% of the 1%.

I'm just learning to code right now to a point where I'm employable. One step at a time.