Jeff Bezos in his annual shareholder letter:
Failure comes part and parcel with invention. It’s not optional. We understand that and believe in failing early and iterating until we get it right. When this process works, it means our failures are relatively small in size (most experiments can start small), and when we hit on something that is really working for customers, we double-down on it with hopes to turn it into an even bigger success. However, it’s not always as clean as that. Inventing is messy, and over time, it’s certain that we’ll fail at some big bets too.
Always a good read.
1. Single moms are the problem. Only 9 percent of low-income, urban moms have been single throughout their child’s first five years. Thirty-five percent were married to, or in a relationship with, the child’s father for that entire time.*
2. Absent dads are the problem. Sixty percent of low-income dads see at least one of their children daily. Another 16 percent see their children weekly.*
3. Black dads are the problem. Among men who don’t live with their children, black fathers are more likely than white or Hispanic dads to have a daily presence in their kids’ lives.
4. Poor people are lazy. In 2004, there was at least one adult with a job in 60 percent of families on food stamps that had both kids and a nondisabled, working-age adult.
5. If you’re not officially poor, you’re doing okay. The federal poverty line for a family of two parents and two children in 2012 was $23,283. Basic needs cost at least twice that in 615 of America’s cities and regions.
6. Go to college, get out of poverty. In 2012, about 1.1 million people who made less than $25,000 a year, worked full time, and were heads of household had a bachelor’s degree.**
7. We’re winning the war on poverty. The number of households with children living on less than $2 a day per person has grown 160 percent since 1996, to 1.65 million families in 2011.
8. The days of old ladies eating cat food are over. The share of elderly single women living in extreme poverty jumped 31 percent from 2011 to 2012.
Canada is at a crossroads. A gap has grown between the middle class and the wealthy. Now, that divide is threatening to erode a cherished Canadian value: equality of opportunity for all. This article is part of The Globe’s Wealth Paradox series, a two-week examination into how the wealth divide is shaping Canada’s cities, schools, social programs – and even its national sport.