Unlike early tech IPOs where public investors captured enormous gains, today's blockbuster IPOs arrive at such inflated valuations that almost all value has already been extracted by private investors, leaving minimal upside for the retail market.
The original purpose of buying an S&P 500 index fund was diversification. With the 'Magnificent 10' tech companies now comprising nearly 40% of the index's value, it has morphed into a highly concentrated investment in a single sector, undermining its role as a broad market proxy.
While offering flexibility, remote work robs young professionals of crucial career catalysts available only in an office: spontaneous mentorship, peer relationships, and the increased visibility that leads to promotions. The office is a feature for career development at this age.
Salespeople are often the highest earners because they possess a rare trait: the resilience to 'eat shit' and consistently face rejection from prospects who don't want to be contacted. This ability to endure rejection, more than any other skill, is what ensures a lucrative career in sales.
For graduates lacking discipline, a two-year investment banking program provides a 'swift kick in the ass.' It's an intense, bootcamp-like experience that forcibly instills a strong work ethic and a practical understanding of capital markets that cannot be replicated in an academic setting.
Entrepreneurship is romanticized despite its high failure rate. In contrast, the ability to navigate the politics and structure of a large corporation is an underrated skill that provides a more stable, risk-adjusted path to wealth creation than the volatile journey of a founder.