How do you set your kids up to be the next Mark Zuckerbergs or Larry Pages?
Serial entrepreneur Charles Tips has the most popular Quora answer on this topic with more than 5,200 upvotes from people like the co-founders of Zynga-owned Farmville and Google-owned Wavii.
Tips has a couple kids and says he has numerous friends who are self-made billionaires.
Step 2: 'Do NOT send them to public school NOR to the prep schools that are just our public schools on steroids.'
This isn't the recipe for every billionaire. Mark Zuckerberg attended a prepschool for high school. Other billionaires never graduated 12th grade.
But in Tips' opinion, someone as atypical as a billionaire is going to need an atypical education. He says his kids began working an assortment of jobs when they were pre-teens and traveled a lot doing things like filming documentaries and driving boats.
'If you want conventional minds, get them a conventional education,' Tips says.
In other words, don't let them be lazy. Because, as Tips says, 'getting rich takes work' for which you need 'stamina.'
By generosity, Tips doesn't mean money. Being present is more valuable for others.
'The only real wealth is the time you have, and whenever you have a chance to use your time well for others, do it and do it fully,' he writes. 'Giving money without time can be a way of creating distance.'
If you teach your kids to only associate with good people, they won't learn how to deal with the jerks. And your kids will need to know how to interact with and defeat all types of people to win in business.
'The world is full of arseholes and swindlers and your kids will need a radar for it, and they need to suffer the consequences so that they develop an arsenal of techniques for dealing with it,' Tips writes. 'They need to be superb judges of character. You can't teach good behaviour by isolating them from bad behaviour.'
A 'grubstake' is an investment. If you don't risk your money and invest it, you won't make a lot of money in return.
'No grubstake. No billionaires,' Tips writes. 'You can't be a capitalist without capital and the willingness to put it all at risk.'
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