Thanks for posting this video clip.
We used to have a saying from rags to riches to rags in three generations. It’s a challenge to get that next generation to be ambitious when they are spoiled.
“””We used to have a saying from rags to riches to rags in three generations.”””
I saw it many times in the construction biz. The third generation kids have no idea what hard work is.
Exactly right. The silver spoon effect. Being spoiled destroys any sense of motivation or ambition.
The reason for such a pattern is the failure of parents to teach their kids to have ambition, develop skills and good habits, and to think about and plan what they want to accomplish and how they intend to support themselves and progress in life. The rich have the handicap of assuming that successful family history and the necessary attitudes and ways of thinking are transmitted by example. Often, that does not happen, and parents instead have to actively teach their kids.