I was watching that show Shark Tank today and the last pitch was interesting where apparently the people asking for an investor had a wealthy family who had already invested two million dollars into them. However, they still haven’t achieved the desired level of success. This then brought up a remark from one of the regular investors on how she never invests in a rich kid’s business as people who are dirt poor are more hungry and desperate to succeed. She was saying that she felt their biggest liability was their rich dad.
That was definitely a remark that was kind of surprising as generally speaking I don’t think you can stereotype everyone like that. If anything, I think there are probably just more odds that someone with a poor background has been through harder times in life where they are more likely to be able to persevere through many obstacles to succeed. On the flip-side, I think the main negative of never being extremely rich would create different obstacles such as you are more potentially more generous and hence more likely to be susceptible to people who just want your money in a disguised sympathy way. Example, like lottery winners who lose everything fast.
Ultimately, it all comes down to life experience. This was the first time I have heard a wealthy person talk down about others who start a business largely because they come from a financially fortunate background. It almost makes me think of like Paris Hilton types of debate too though. Example, if the ultimate end goal for everyone in her type of field is to get attention and notoriety to then make money couldn’t you say she did just that? Tricky conversation when we are talking purely from a business point of view huh?