"Springer made his first killing during the bubble of 1999, Bloomberg reported, when he pocketed $100 million by selling his first venture to Millennium Pharmaceuticals."
"Springer made his first killing during the bubble of 1999, Bloomberg reported, when he pocketed $100 million by selling his first venture to Millennium Pharmaceuticals."
No, you don't. It's still a crap-shoot.
I don't discount the importance of skill and hard work in this story. I'm sure there was a lot of that, and I'm sure it was a necessary ingredient ... but it wasn't a sufficient ingredient. This is still a story about making two bets and winning twice. A lot of people who were also skilled and hard-working made bets that were just as good based on information available at the time. Most didn't even win the first bet, so were never in a position to make the second. If these two bets hadn't worked out, we'd be reading a different story about someone else's two bets that did. The names change; the story doesn't. What lesson, exactly, are we supposed to take away from that?