Giving Credit Where Due: The Role of Privilege in Success (Vox)

Hand and money staircase isolated on whiteJason Ford, mentor with Backstage Capital, a fund investing in overachieving, underrepresented founders, as well as a board member and CTO at May Designs, reflects on how inherited privilege—but not simply financial privilege—led him to be a millionaire.

“While I may have some natural ability and put in my share of sweat and tears, the best pilot in the world cannot fly to the moon unless someone provides them with a rocket ship.”

Ford urges entrepreneurs to stop “taking credit for flying to the moon all by themselves,” as if their own support structures had nothing to do with their successes. Read more.

 

Less Judgy: People More Likely to Disclose Personal Info Online Than to Actual Person (Brookings)

Internet256New research indicates that Internet users are actually more likely to disclose personal information online that to a known face. The results are such that there is no evidence that concerns about privacy dampens customers’ enthusiasm for technology.

These data indicate that there is a quantifiable difference in consumer preferences that cannot be explained by factors like convenience and that likely reflect a privacy preference for doing business with remote entities that collect data, rather than immediately-present people who might judge us. Read more.

Trading Stocks Based on Trump Tweets (Fortune)

trump-twitterThe Twitter rants of President-elect Donald Trump can sometimes have an unexpected impact on the financial markets.  His recent criticisms of Boeing and Lockheed Martin, for example, sent shares in the defense and aerospace giants tumbling.

According to an article in Fortune, a new app has just been launched to help small investors by alerting them every time Trump tweets about a publicly traded company.

When Facts Fail: How to Convince Someone When Worldview Trumps Evidence (Scientific American)

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Why is it so hard to convince someone that their belief is not supported by fact? Social psychologists examine reasons why people hang onto their ideas despite overwhelming evidence disproving them.

Analyzing several real-world situations, the psychologists found that attempting to correct another’s beliefs with fact can, in some cases, reinforce misconceptions. This “backfire effect” is primarily due to the destabilization of the person’s worldview and sense of self, which often leads to the person to become defensive and refuse to listen. More in Scientific American.