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Notes -
A lot of the paths that made money in the older generation got institutionalized. For sales and trading type roles or even Ibanking you read a lot of old stories of a guy just met someone then is at major bank. (Epstein, Michael Lewis. High profile on this path. Many others). Now it’s institutionalized and still pays well but there are 5-10 highly profitable firms and to get in you need to be “math Olympiad winner” and the competition is against a global population. Plus you have to a great degree lost the ability to get equity in form because the competitive moats have increased a lot.
It does feel like the current career paths offer less stability and your career can end quickly even with fairly strong credentials. The exception is a huge explosion in government work which I would include health care in.
Probably some new routes are emerging and in 25 years we will see a bunch of rich people who just started doing something.
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