Seth Stephens-Davidowitz

Well, they're not quite as bad as some people think. There are definitely a lot of restaurateurs that are in the top 0.1% or 1%, but it's nowhere near as good as, say, an auto dealership or a beverage distribution company or some other companies.

Well, they're not quite as bad as some people think. There are definitely a lot of restaurateurs that are in the top 0.1% or 1%, but it's nowhere near as good as, say, an auto dealership or a beverage distribution company or some other companies.

so what is it what is it about auto dealerships or beverage distribution companies that make them the path to wealth well they actually have legal protections against like against competitors so you can't just start an auto dealership there are kind of laws of who's allowed to do this uh so uh you know one danger of being in business uh i'm an economist so there's something called the zero price condition which is basically if you have profits

so what is it what is it about auto dealerships or beverage distribution companies that make them the path to wealth well they actually have legal protections against like against competitors so you can't just start an auto dealership there are kind of laws of who's allowed to do this uh so uh you know one danger of being in business uh i'm an economist so there's something called the zero price condition which is basically if you have profits

so what is it what is it about auto dealerships or beverage distribution companies that make them the path to wealth well they actually have legal protections against like against competitors so you can't just start an auto dealership there are kind of laws of who's allowed to do this uh so uh you know one danger of being in business uh i'm an economist so there's something called the zero price condition which is basically if you have profits

someone else will start a business and you're a competing business and they'll kind of charge a lower price and they'll take away all your profits. And that happens a ton in business. I think, you know, people don't realize just how hard it is to actually have a business that's consistently making money. So, you know, legal protection is definitely a good path to making some money.

someone else will start a business and you're a competing business and they'll kind of charge a lower price and they'll take away all your profits. And that happens a ton in business. I think, you know, people don't realize just how hard it is to actually have a business that's consistently making money. So, you know, legal protection is definitely a good path to making some money.

someone else will start a business and you're a competing business and they'll kind of charge a lower price and they'll take away all your profits. And that happens a ton in business. I think, you know, people don't realize just how hard it is to actually have a business that's consistently making money. So, you know, legal protection is definitely a good path to making some money.

But there are other businesses that have their own protections that aren't legal. So market research turns out to be a really good business. Just a large percent of people who start market research businesses end up in the top 1% or top 0.1%.

But there are other businesses that have their own protections that aren't legal. So market research turns out to be a really good business. Just a large percent of people who start market research businesses end up in the top 1% or top 0.1%.

But there are other businesses that have their own protections that aren't legal. So market research turns out to be a really good business. Just a large percent of people who start market research businesses end up in the top 1% or top 0.1%.

Yeah, they are very low. It's not as crazy as you might sometimes think trying to be a celebrity because there are ways you can dramatically increase your odds. The data also shows. And there have been actually studies of artists and what it takes to be a successful artist.

Yeah, they are very low. It's not as crazy as you might sometimes think trying to be a celebrity because there are ways you can dramatically increase your odds. The data also shows. And there have been actually studies of artists and what it takes to be a successful artist.

Yeah, they are very low. It's not as crazy as you might sometimes think trying to be a celebrity because there are ways you can dramatically increase your odds. The data also shows. And there have been actually studies of artists and what it takes to be a successful artist.

And usually what separates them is not necessarily the art they've created, that the art is so much better than everybody else's, but they were just much more aggressive hustlers.

And usually what separates them is not necessarily the art they've created, that the art is so much better than everybody else's, but they were just much more aggressive hustlers.

And usually what separates them is not necessarily the art they've created, that the art is so much better than everybody else's, but they were just much more aggressive hustlers.

So, for example, there have been studies of hundreds of thousands of painters, and they found that the painters who made it traveled widely to every possible gallery, different regions of the country, different countries. Any gallery that would take them, they showed their work there, and eventually they kind of stumble on a big break.

So, for example, there have been studies of hundreds of thousands of painters, and they found that the painters who made it traveled widely to every possible gallery, different regions of the country, different countries. Any gallery that would take them, they showed their work there, and eventually they kind of stumble on a big break.

So, for example, there have been studies of hundreds of thousands of painters, and they found that the painters who made it traveled widely to every possible gallery, different regions of the country, different countries. Any gallery that would take them, they showed their work there, and eventually they kind of stumble on a big break.