An accomplished serial entrepreneur
What do these things even mean anymore?
What do these things even mean anymore?
Happens when one launches more than one venture one after another. Longevity of venture is not typically a concern to unlock this moniker.
Dude makes a startup, gets some VC money, gets paid and leaves in a couple of years when their contract is up. Repeat.
It usually takes at three generations of highly-successful individuals:
Gen 1: Manual labor, kid goes to college and gets a professional job
Gen 2: Professional has a decent home, can provide a basic safety net, and can push / encourage / raise kid to be academically competitive at an elite level.
Gen 3: Starts a business which reaches millions of dollars / enough to be independently wealthy.
You can add one more generation if you also want to break into the monied power class. That's on the very, very fast end. It's usually much more than that, since it's rare each generation will have a highly-successful individual.
It's better than no mobility. We had no mobility just a few hundred years ago.
It takes many forms afterwards. I think many here/on this topic view this as a happily ever after scenario where then there is a family tree full of successful people doing interesting things at low personal risks.
My grandpa was a Gen 4 in your lineup. He was essentially a trust fund kid that never worked and just squandered the significant savings and assets of his depression era parents. My dad got some rather minor assets. Or so I heard growing up. In reality he got a free house, the one I grew up in, and several debt free rental units/cash flow. Not luxury apartments but growing college town type market. He was essentially a minor league trust fund kid who was bitter about having to work to afford everything he wanted (something he never saw his dad do). He kept a mediocre job and never strived for much. He was more interested in exotic cars, fashion, women, etc. He ultimately blew through all his inheritance in by my young adult years. I got nothing but a stable home environment growing up. Paid for my own college, cars, and everything else. I know many others in similar situations where gen 4-6 seems to be highly correlated to addiction, crime, etc. and just never strive for more.
I feel like I’m just starting over with no real advantage. Similar to maybe what gen 2 had.
This is my translation from "富不过三代”, an old Chinese saying about the impossibility of sustaining wealth.
In some similar way, the power and wealth of a nation also is unsustainable. Every powerful nation falls eventually.
And even the whole earth undergo patterns of up and down. 20th century seems a peak of human civilization, and 21 century seems a slow match to the inevitable crash...
Thats what I was tought as a kid... although oop north in the UK they say "clogs to clogs in three generations".
*) Or bring a positive net result, but this is a bit more difficult.