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Ok what is the adjusted risk of opening a business? Adjusted for competence that is.
It's more or less a truism that most businesses fail (to break even, forget survive). But most people would probably fail at getting STEM degree as well.
What is the risk for someone like me with a relatively high IQ, high conscientiousness, lack of emotion or lack of any retarded world models, fairly trustable person like me?
I've been thinking this because having met some unsuccessful entrepreneurs, I wouldn't trust them to manage a microwave, if that is my competition, then I might actually not be as doomed to the wage slave life as I think.
The successful ones I met are a better group on average, but not the entire group!
Of course ik ik it depends on a thousand factors, but let's just focus on this now. The average business owner is.... Average!
Most successful (as in "able to make a living", not in "super-rich") businessmen I know personally started a business because they were forced to by the circumstances. In one case a classmate of mine lost both his parents soon after graduating high school and it was literally a choice between risking everything and literal poverty.
On the other hand, I know several people who tried to start a business carefully and without taking unnecessary risks and it never took off.
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