No, I called you precisely on labor theory of value. It is nothing short of incredible you manage to read between the lines in a one-liner.
It is obvious that you can't really have any social advancement without any supporting social dynamics. Also odds are overwhelmingly against any given individual becoming a billionaire from a commoner background… yet the examples are numerous, and particularly in tech.
I'm not commenting about merits of Graham's observations as am not a venture capitalist. But the LTV bit you were on, that's some ancient bullshit. I lived in the tail end of USSR, could observe first hand how well it worked.
It is obvious that you can't really have any social advancement without any supporting social dynamics. Also odds are overwhelmingly against any given individual becoming a billionaire from a commoner background… yet the examples are numerous, and particularly in tech.
I'm not commenting about merits of Graham's observations as am not a venture capitalist. But the LTV bit you were on, that's some ancient bullshit. I lived in the tail end of USSR, could observe first hand how well it worked.