It's long been a hobby of mine, looking at the underlying patterns behind the super successful, and seeing what they did before they struck gold. This was the ground work that enabled them to get rich.
There is a significant lack of top notch education among them (read university, they all went to school...). If you subtract the applied technology ones, which require a huge amount of knowledge not attainable from a school (Google founders etc). its striking for the top of capitalism, to contradict our educational values.
So, a possible conclusion to this is, and this ties in with that viral piece on education, that your education has raised your mean standard of living, but significantly narrowed the spread.
Possible Factors involve: Following the sheep: That's what you're peers are doing, go into big corporation, safe job, clear progression and exits.
Related: Keeping up with your peers, afraid to start off as a minnow, earning £20k, when your peers are on £40k is not something many can swallow.
Education has actually closed your mind: You only see what you are taught to see. The option pricing, lbo models, the accounts, are all you know, and therefore thats all you chase, as it's what you're familiar with.
Pretty gutting considering what you pay for it.
T
I have to disagree with you that a top-notch education hinders your opportunities but rather that the type of people that get a top-notch education are not the type to be overly successful. To truly be successful, as you are saying, one must break from the norm and create a new standard or idea. This is not a characteristic typically found in the hyper type-A personalities seen at many of the ivies. Granted, these people are smart but there upbringing and personality does not fit well with the rebel risk-tasker and the entrepreneurial spirit. Thats why many of the most successful were brilliant but were not focused in school or something else and eventually found their passion and made it worth billions.
Just my two cents
*their (to be my own grammar nazi)
I agree with Hockey for the most part. However, I agree, in part, with Trazer as well. Some people need school to help get them to where they want to go. Then, there are others that either don't need school or aren't cut out for it. Obviously, there are different levels of success within each group.
That being said, education never limits your money making ability. I think most people (myself included) find their comfortable path and then won't risk leaving. Like you said follow the sheep, safe job, etc... However no degree can actually limit you. If I had the balls to I could take every penny I have and lever to the gills on real estate. In 10 years I'd either be bankrupt or a multimillionaire. In 25 years there's a chance I could be truly wealthy.
Other than the amount on capital they could start with a high school drop out, myself, a women's study phd, etc.... could basically do the same thing.
make sure to read http://www.wallstreetoasis.com/blog/why-youre-so-easy-to-replace
Raw intelligence plus good schooling are the primary drivers for admission into top schools.
But raw intelligence and good schooling are more like hygiene factors to get rich (you need a basic level to be in contention), not the main drivers. I would suggest it is 70% being in the right place at the right time and 30% having the balls and work ethic to take advantage of that - neither of which are predicted by being able to get into an Ivy.
Therefore you would expect the population of the super rich to look more like the population at large (where the vast majority of people don't go to an Ivy).
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