|Someone commented to Paul Graham last month (original thread: http://apps.ycombinator.com/item?id=1320439):|
"pg, unfortunately for America, in recent years most of the highest paid people (to the tune of hundreds of millions per person) have been financiers. Even fairly successful outcomes in the start-up world, such as Mint.com to take a random example, don't make founders that rich.
I suspect if you look at the new inclusions in Forbes 400 list over the past 10 years, that list (of deltas) would be dominated by Finance. This is not a good thing."
"Instead of assuming this, why don't you check and tell us? It should be pretty easy; historical Forbes 400 data is available online."
I decided to go check and tell everyone, and Paul Graham is wrong about the Forbes 400 showing startups having a higher return than Wall Street. According to the Forbes 400 data, between 1999 and 2009:
- 211 new people entered the Forbes 400 list during this ten-year period.
- Of these, 59 were from finance.
- 17 were from technology.
I think the record speaks for itself.
You can see the raw data at http://www.forbes.com/lists/home.jhtml?passListId=54&passYear=1999&passListType=Person, http://www.forbes.com/lists/2009/54/rich-list-09_The-400-Richest-Americans_FinalWorth.html.