Study says being rich is determined by chance rather than intelligence or talent

[anavir]

some lucky persons become rich by a chance rather than intelligence is because mostly of the intelligent one are egocentric..they dont want to be  managed because of their pride..while the less intelligent do accept what advices they received as long as they think it would help..they readily take what ever chances they incounter so we can say that being rich is determined by chance

[jaysabi]

In this manner, it could be just as well said that it is not market utility per se, which produces wealth, but rather money which people pay for a product or service marketed. And what does it take from my argument? I think nothing. Or do you think that market utility, or customers money, for that matter, comes on its own? You also need plenty of luck to find a bestseller idea that you can make money on. So how is it actually different from saying that you still need luck, plenty of luck, to become wealthy nowadays?

No, market utility is what induces people to spend money. Your explanation is superficial as it only looks at the surface level of what is happening (money changing hands) instead of looking at why money is changing hands (people find the product/service useful and agree to exchange their money for it). Money only represents wealth, market utility of products is what actually creates wealth. Money is just a representation of value that has been created, but market utility is what is what actually creates value.

But that's the whole point that I was trying to get across! I specifically came up with this "superficial" example to show you that your "market utility" is actually of the same kind of superficiality. I could rephrase your own words and say that you are looking at only the effect instead of looking at the cause which made this utility possible in the first place. In today's world of relentless competition you should have a lot of luck to find something which would be worth marketing and could obtain that utility.

Microsoft had been a no-name until they stroke a contract with IBM, which was thanks to his mother being a friend of an IBM CEO. They had nothing apart from a shitty version of a shitty computer language.

Let's assume this is 100% true as written. Luck played a part in that Mary Gates helped secure an early contract, but luck did not make Microsoft's products desired by IBM or the rest of the world. If the product was "shitty" as you say, IBM doesn't use it and the rest of the world doesn't desire it. Luck didn't make Microsoft's products useful and therefore demanded, intelligence of the builder and market utility of his product did.

You obviously fail to see my point. You don't see the forest for the trees. Microsoft's products were not shitty, they were so-so at best (in fact they quite were). There were more than enough competing products likely much better than Microsoft's but their developers didn't have their mothers on friendly terms with CEO's of biggest corporations. This is where luck comes to matter a lot, actually enough to make all the difference.

Market utility isn't superficial because it's the actual root cause of wealth. You couldn't turn that example around because simply reversing the words wouldn't make it true. Money isn't actual wealth, it's a representation of wealth you've accumulated through the efforts of what you offer the market, either through the products you make or the services you offer. The more utility those goods and services have, the more money you ultimately will acquire. But you don't get the money without the utility, that's how you know it's the cause of it.

I see your point perfectly fine, I just think it's wrong. (Also, I only parroted the language you used, and then you later disputed your own point.) The fact remains that no amount of luck is going to keep Microsoft's products in demand. They have to be useful for that to happen. Luck played a role to a certain extent in the start of Microsoft, but market utility of the products they create blows luck out of the water in terms of how much value they've created in the world.

[Hell-raiser]

You obviously fail to see my point. You don't see the forest for the trees. Microsoft's products were not shitty, they were so-so at best (in fact they quite were). There were more than enough competing products likely much better than Microsoft's but their developers didn't have their mothers on friendly terms with CEO's of biggest corporations. This is where luck comes to matter a lot, actually enough to make all the difference.

Market utility isn't superficial because it's the actual root cause of wealth. You couldn't turn that example around because simply reversing the words wouldn't make it true. Money isn't actual wealth, it's a representation of wealth you've accumulated through the efforts of what you offer the market, either through the products you make or the services you offer. The more utility those goods and services have, the more money you ultimately will acquire. But you don't get the money without the utility, that's how you know it's the cause of it.

If so, why don't you address the point which I made? How are you going to create that market utility in the first place when you have to compete with or rather against corporations which have literally thousands of personnel in R&D departments? In most cases, your only chance is pure luck, end of story.

I see your point perfectly fine, I just think it's wrong. (Also, I only parroted the language you used, and then you later disputed your own point.) The fact remains that no amount of luck is going to keep Microsoft's products in demand. They have to be useful for that to happen. Luck played a role to a certain extent in the start of Microsoft, but market utility of the products they create blows luck out of the water in terms of how much value they've created in the world.

Which point do you refer to here?

But never mind. Isn't it Microsoft which is famous for having employed a full range of dirty tricks to stifle competition at all costs in 1990's (see Browser Wars)? Isn't it Microsoft which was trying out all sorts of FUD and smear campaigns to defame and ridicule Linux in early 2000's (see Infamous Microsoft FUD Campaigns Against Linux)? Isn't it Microsoft which was subsidizing SCO when the latter had filed a bunch of lawsuits against companies involved in Linux in some way (see Microsoft Funding of SCO)? The ugly truth is that whenever there is really free competition in the field and equal starting conditions, as it happened, for example, in the mobile sector, Microsoft sucks badly, another end of story.

[craZyLovE0916]

I believe so. There are so many intelligent people in the world who are poor and then many not so intelligent people who are rich. It depends on what you do with the opportunities which are presented to you when luck shines on your side. A lot of people have missed chances to be rich due to not using the opportunities which they were presented with.

[fairytale]

If you possess both intelligence and talent you can be rich if you can maximize both and of course don't forget the hard work. rich by chance? yeah. like winning in the lottery or trough inheritance.

[slyfox]

Hi,

Luck is not everything.

Neither is talent, or intelligence.

You need a bit of all that. You need to be daring.

AND you need to be born in the good family. You don't necessarily need to be rich (but it helps A LOT) but what you really need is a great environment in which growing up. Just because what you learn when you grow up can hardly be caught up afterwards. Your family will transmit culture, behaviour, opinions, way of being with other people. That may not seem a big deal but it is.

And if you pay attention to those "great stories" of people starting from nothing and inventing something truly amazing... Well, actually in most cases they grew up in families that had no big issues with money and that had enough to allow them go to school. Even if they chose to drop school, they had financial means to go. And that makes a huge difference!

I agree with this, in fact it has been demonstrated that in order to reach some high intellectual achievements you need to have a stable family, like always there are exceptions to this  but most of time you will see that those who became great scientists or artist or poets came from wealthy families that allowed to them to think in something else besides money.

[okissabam]

I think being rich is determined by both intelligence and talent; both works in harmony thus makes someone rich if you are smart and talented at the same time. It is actually a big advantage for someone who has both traits.

[waichi]

Some rich people are rich because of their courage and determination. They may not that intelligent unlike those people who graduated with flying colors but they do have the knowledge of how will they do business. I do not believe they are lucky, I believe they just deserve it because of their hardships.

[Starone1]

Some rich people are rich because of their courage and determination. They may not that intelligent unlike those people who graduated with flying colors but they do have the knowledge of how will they do business. I do not believe they are lucky, I believe they just deserve it because of their hardships.

Yes because knowledge is wisdom but it takes determination to us your knowledge as well, if you will have knowledge but you are not well planned and you have no determination in your life it is useless, having strength and determination is very important to live good life, even being bitcoin businessmen it is very important to be determined, strengthen and  faithful that bitcoin will rise for you only thing you will have to do is holding and waiting it to rise and grow to  be ready for selling.

[bib24]

Luck alone will not make you rich for long, you also need intelligence to plan and courage to put it in action, being assertive with positive outlook is a plus.

[Dreamchaser21]

I think being rich is determined by both intelligence and talent; both works in harmony thus makes someone rich if you are smart and talented at the same time. It is actually a big advantage for someone who has both traits.

You will only succeed if you know how to use your talent well, for me this is all about hard work and committing to your goal. Its not easy to become rich but if you believe that one day you’ll succeed then you will be inspired to do better.

[slyfox]

Yes i will definitely agree that being rich is sometimes determined by chance. But we all know that rich people nowadays are those who came from a wealthy clan. There are also chances that a certain people become rich because of luck and some other people get rich because of their hardwork and determination to get what they want in life. Another thing to consider is the skills, techniques and the talent that is being used  plus the resources to be use to start a business and become succeesful someday.

The way the world is, it has been in a way that the rich will keep getting richer and sometimes the poor getting poorer unless by chance they are able to get out of that jinx. I would say everything about life is by chance and the truth is that if you want to actually check the average of those who are wealthy, just few of them are smart and intelligent while for some of them, the smart and intelligent ones are the ones busy building their dreams. Sure, we cannot always rely on chance, but one way or the other, it just happens.

Well it makes sense that the rich keep getting richer, if they got their riches due to skill then the more money they have the more chances they have to use that money to produce even more money so I do not really find that surprising the fact they can use their wealth in order to improve their position even further, the difficult thing is to improve your position when you lack resources, and that is why many people that have talent and skills remain poor.

[Dheo]

I think being rich is determined by both intelligence and talent; both works in harmony thus makes someone rich if you are smart and talented at the same time. It is actually a big advantage for someone who has both traits.

You will only succeed if you know how to use your talent well, for me this is all about hard work and committing to your goal. Its not easy to become rich but if you believe that one day you’ll succeed then you will be inspired to do better.

Yeah, if you believe that you can be rich someday and you are determined to become a successful in the future you should be smart especially in the skills you have. All of us have a different talent .just do what ever we can do to be successful.

[Lion34]

Why I share a partial view expressed. I do not want to believe chance is a major factor to be  or overrated than talent and intelligence. How would someone explain the rise of Albert Einstein, Abraham Lincoln who was raised in poverty and riddle by failure, Thomas Edison who in his quest to invent light bulb try 999 times. Can we attribute this to chance. For instance Africa was acknowledged as the cradle of civilization centuries ago, but what wen wrong? We give into lackadaisical altitude hence we become victims of circumstance. I Strongly believed that intelligence and talent if probable worked out will bring about  the much craved "chance".

[kyucryp]

this study is true most of the rich people come from rich families. But there is still a chance for us to try and innovate to create new things that can make us a new rich person. Bitcoin has created many new rich people hopefully in the future bitcoin still exist and make the poor rich.

[Hell-raiser]

Why I share a partial view expressed. I do not want to believe chance is a major factor to be  or overrated than talent and intelligence. How would someone explain the rise of Albert Einstein, Abraham Lincoln who was raised in poverty and riddle by failure, Thomas Edison who in his quest to invent light bulb try 999 times. Can we attribute this to chance. For instance Africa was acknowledged as the cradle of civilization centuries ago, but what wen wrong? We give into lackadaisical altitude hence we become victims of circumstance. I Strongly believed that intelligence and talent if probable worked out will bring about  the much craved "chance".

The problem is there are over 7 billion people living today and just having an intelligence above average, a beautiful mind of sorts, is already a game of chance in itself. You have to be born with brains of no equal. In other words, whatever you may come up with has already been tried multiple times and it didn't work. As to what happened to Africa, nothing did. It is basically the things that happened outside of Africa that made all the difference. Apart from that, a chance is a chance, you can't work your way toward it because then it won't be a chance, as per definition.

[Sled]

I don't think that it is only determined by the chance because it is always about determination and how hard working you are. If you are really hard working then you can easily reach to become rich because being rich just need work and patience and if you have those two which is determination and also patience then you can become rich and you don't need to depend on chance.

[Blue Bell]

I don't think that it is only determined by the chance because it is always about determination and how hard working you are. If you are really hard working then you can easily reach to become rich because being rich just need work and patience and if you have those two which is determination and also patience then you can become rich and you don't need to depend on chance.

Hard work is the key to success so a hardworking person can be more successful than a working person. if you know how to work then it is good, increasing price of bitcoin will help you get more profit and you will rich faster than before, getting fast profit is not the issue but getting profit and wasting it is the issue so for me it is important to be determined that you will not waste your earning and you will work hard so you can get your goal you will but have to do much but fix your goal of investment and then work for it, focus on your way to get rich, with high determination.

[Btcwashu]

I don't think that it is only determined by the chance because it is always about determination and how hard working you are. If you are really hard working then you can easily reach to become rich because being rich just need work and patience and if you have those two which is determination and also patience then you can become rich and you don't need to depend on chance.

Hard work is the key to success so a hardworking person can be more successful than a working person. if you know how to work then it is good, increasing price of bitcoin will help you get more profit and you will rich faster than before, getting fast profit is not the issue but getting profit and wasting it is the issue so for me it is important to be determined that you will not waste your earning and you will work hard so you can get your goal you will but have to do much but fix your goal of investment and then work for it, focus on your way to get rich, with high determination.

Bitcoin is the sharp tool that gives a chance to the people to the life of being rich, a lot of people now are reach because of the bitcoin. Some people are rich now because of their ability and one of my example is Manny Pacquiao who are rich now because of his talent in boxing and William Henry Gates III is an American business magnate, investor, author, philanthropist, humanitarian, and principal founder of the Microsoft Corporation who are now rich because of his intelligence. For me being rich is all about your hard work and determination to reach your goals and dream.

[franzkie345]

In my own opinion, I do believe that we can determined it by the ability of the a person. Many people were became rich just because of their abilities. Yes I do believe in chance, Of  course if you have a chance you should grab it. Some people also used their intelligence to become rich.

That is true, some people are becoming rich because of their abilities not by intelligence. But it is just a plus factor that you are a skilled and a intelligent person. but chances? yes I do believe in it, If you have it then grab it.