I personally seen this firsthand. Over ten years ago I got a job at a small software company. In the short time I was there they went from 50 employees to an international company. For better or worse most people now know the name of this company. The employees that were there before me got an insane amount of pre-IPO stock. Most of them were kids. Early 20's and it was their first job out of high school now they are worth 7 to 8 figures.
The insanity I saw after you give a bunch of 20 somethings a ton of cash. I worked with one guy that would hammered and forget where he parked his BMW. Take a Taxi. Bite the Taxi driver and get kicked out. Sleep in the street and get up to go to work the next day. Absolute insanity.
There is no doubt that we know the downside to having a lot of money, very quickly, and at very young ages.
We see this most often, at least publicly, with athletes. Suddenly 22 or 23 year old kids have millions.
They cannot handle it.
It seems we see a lot of that with Bitcoin yet, for some reason, they were able to handle it better. Maybe it was because they all HODLed.
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