Why rich friends are so important to success

Opportunity is a function of density

Opportunity is a function of surrounding oneself with successful people.

Studies show that individuals end up resembling their five closest friends in various aspects of life. While they may have similar incomes, their financial outcomes vary greatly.

To achieve financial security and success, it is advisable to be... See more

Why is this decision so powerful? Chetty’s team has a possible answer for that. Three of the biggest predictors that a neighborhood will increase a child’s success are the percent of households in which there are two parents, the percent of residents who are college graduates, and the percent of residents who return their census forms. These are ne... See more

“The important thing about friends is that you need to have them before disaster befalls you. One reason is that, as we shall see later, people are only likely to make the effort to help you if they are already your friend. We are all much less likely to help strangers or people we know only slightly – despite what we sometimes claim. Making friend... See more

Scholars who study social networks have attempted to classify the strata of friendship. “Best,” “close,” “good,” “casual” and “acquaintance” is one taxonomy they use. “Support clique,” “sympathy group,” “friendship group,” “clansmen” and “acquaintances” is another. These scholars have imagined friend networks as a pyramid, with close friends and fa... See more

Where you live largely determines who you know. Who you know largely determines the richness of your life and your access to wealth and information. Your network is a form of wealth. It brings you friends, career opportunities, or a spouse. Committing to a geography and developing a network increases your access to all the experiences and resources... See more

Any skill or attribute you claim makes you unique—”I’m really funny”, “I’m good at shining shoes”, “I’m an attentive lover”—you can always find someone else better than you on that dimension. They’re funnier, fitter, richer, sexier, smarter, or better at shining shoes than you are. We can’t help but desperately compete in this unwinnable game of ha... See more