Newsletter #240 2-Parent Privilege, Charlie Munger, The Fall of Young Unicorn Founders
RIP Charlie Munger
Announcements
This coming week is the last week to hang before I go back to Greenville for the holidays!
Weekly Shoutout
Y’all shoutout to Stanford for being such an awesome place! I almost got to meet Bjarke Ingels (the event turned into a Zoom bc of a flight delay)
Food for Thought
Is having 2 parents becoming a new kind of privilege?
Chris Williamson of the Modern Wisdom podcast recently did an interview with a woman named Melissa Kearney, author of “The Two-Parent Privilege: How Americans Stopped Getting Married and Started Falling Behind.”
What I think is wilder is that children of married moms are more likely to earn college degrees than children of unmarried moms — regardless of the mother’s education level!
Dads need to step up…and they have been! It was 66% more likely for children to live with their father in 2022 than in 1950 #NarrativeViolation
Crowd Pleasers
Y’all Charlie Munger passed away just a few months of shy of turning 100 years old this week!!!
It’s wild because I had just downloaded “Poor Charlie’s Almanack” the night before after seeing Stripe Press reprinted it
This epic graph is in honor of his legacy to the investment world
It’s easy to look at Berkshire Hathaway’s success and forget just how much patience it took Charlie and Warren to achieve their legendary investment performance: >90% of Buffet’s wealth he gained after he turned 60! #Snowball
Mind-Benders
Where did all the entrepreneurial prodigies go? Despite the rise of the Thiel Fellowship, the age of unicorn founders has gone up in the last decade!
However, the myth of the college dropout billionaire is often misleading because the data shows a different story…#StopAgeism
The average age of a successful startup founder is 45. A 50-year-old founder is twice as likely to start a successful company as a 30 year old; a 60-year-old founder is 3 times more likely to start a successful company as a 30 year old. (source).
I think younger founders are more likely to have a great idea for a startup, but older founders are more likely to have the wisdom and experience and EQ and other qualities of self-management that allow them to take a great idea and turn it into an actual business.