Reply to I don’t know a single person making 7 figures

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A lot of well paid lawyers on this thread. But reminder: No one on earth makes more money than successful business owners. The super rich don't get that way because someone is paying them a salary. They get rich from owning businesses that become incredibly valuable. [/quote]

Very true.

Lawyers do, however, know how to read something, identify relevance, and respond accordingly.

You keep harping on business owners having a better chance of becoming “super rich”. No sh$t. It’s an entirely different risk-reward calculus: exponentially more absolute failures, proportionally much less likely to be a moderately successful low-level millionaire, and a slightly greater but still infinitesimally small likelihood of becoming “super rich”.

In any case, that’s not at all the subject of this thread, so I don’t know why you keep posting different variations of the same statement.

Oh wait, yes I do. Envy and insecurity.

[/quote]

PP here. This was actually the only post I wrote. I think you're confusing me with someone else who doesn't think being a lawyer would be incredibly boring. I'm not jealous. I own a TON of Nvidia stock I bought ten years ago so honestly I'm probably a lot wealthier than you. [/quote]

It is hard to hold Nvidia for 10 years...so man ups-and-downs...you have some fortitude to hold.  I was lucky that my kid who knows AI casually mentioned to me 18 months ago that he thought Open AI's new release may actually be something so buy Nvidia as a way to play it.  What a ride since then.

I agree with you and I find the entire DC / BigLaw mentality to just be so silly.  It reminds me of the scene in the Social Network when Sean Parker says "$1MM is not cool"...at which point the BigLaw partner would stand up and say "heck yeah it's cool" and walk out of the meeting.

I travel a ton to SFO and work with start-ups and the environment is electrifying and optimistic and people dream and think big...and DC BigLaw is all about just grinding to earn your $2MM per year.

FWIW, I know several BigLaw partners and NONE want their kids to follow in their path...a large part of that is because they know generative AI will be disruptive, because their own firms are figuring out how to incorporate it to make their lives richer, but cut down on the number of pesky associates.  Anything to improve profits-per-partner baby![/quote]

They think reducing the number of associates is going to improve profits per partner?  Do they not know how law firm profitability works?  You need those associates billing hours to get those profits.  No associates, no billable hours, no profits.[/quote]

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