The Hidden Role of Luck in Life’s Success Stories

Was re-watching a video from Veritasium titled Is Success Luck or Hard Work? and its one of my favorites, so let’s break it down here.

Consider this interesting observation from the world of hockey: players born in January tend to be more successful than those born later in the year. Why? Simply because they’re older and bigger than their peers in youth leagues, which gives them an initial advantage that compounds over time. This seemingly minor circumstance of birth timing creates a ripple effect that can influence an entire career trajectory. referenced from https://www.youtube.com/watch?v=3LopI4YeC4I&ab_channel=Veritasium

The same principle applies in broader contexts. Take Bill Gates, for example. While his intelligence and work ethic are undeniable, his path to success was paved with fortunate circumstances: being born into a wealthy family, attending a school with rare access to computers in the 1960s, and connecting with the right business partner at the right time. These advantages, though not of his making, played a crucial role in his extraordinary success. referenced from https://www.youtube.com/watch?v=dbRgeiSiL48&t=520s

We humans have a tendency to underestimate luck’s influence while overestimating our own contributions – a phenomenon known as egocentric bias. This is particularly true for those who’ve achieved significant success. When people reach positions of power or wealth, they often develop a belief that the world is fundamentally fair and that their success is primarily due to their own merit.

This isn’t to diminish the importance of hard work and talent. Rather, it’s about developing a more nuanced understanding of success. Acknowledging luck’s role in our achievements doesn’t make them less meaningful; instead, it can lead to greater empathy, gratitude, and a more balanced perspective on both success and failure.

And I strongly believe that, recognizing our own good fortune can make us more likeable and happier. It fosters humility and encourages a more compassionate view of others who might not have had the same advantages. This awareness can inspire us to give back to our communities and work toward creating more equitable opportunities for others.