For real this is crazy. I know a lot indian homies and by far the majority of their parents own some type of businesss, did stocks and rest are doctors. Tonight I just found out one of my indian dudes dad owns subways, can am pizzas, mcdonalds, and a damn sports bar...
This indian excellence got me puzzled. These are 1st generation immigrants just excelling in this money shyt. What I want to understand is how this came to be? Why haven't U.S Black people (not from Africa) done something similar?
We should be owning way more business than these people but we don't. Why is that?
I've explained it before but don't believe this whole "only the wealthy" come to America stuff, the wealthy of most countries either stay there or go to Europe
This is how the majority of immigrants who make do it, keep in mind this is anywhere from a 20-40 year process
ll use Indians and Asians as the example of this
1. These people in there community reinvest in there business , they do as much shopping as possible in there own community stores and no where else . There clothes , there food , there liquor , there entertainment they get it all inside there own communities and by communities i just don't mean there own block i mean they will drive out there wait to there Asian or Indian towns and spend $$$. That's real economic stimulation
2. There is a lot of "hand me down" businesses in those communities ( not hand me down poverty that happens in black and Hispanic communities) What i mean by this is the following
Generation 1: Comes to america breaks there back working and living as frugal as possible , emphasis educations as much as possible to there children , but has a medium level to low level of education themselves, continues working up to 3 jobs, saves X amount of money, helps family when they come live with them, buys property and opens up FAMILY RUN small business "ABC store"( Can be anything from a corner store to a dentist office). They now retire go back to homeland , leaves "ABC store" to children and family.
Generation 2 : The children + family members of Gen 1. The children who have now received a higher education because of there parents push ( also has small to no debts ) expands the business even more and makes it more profitable than there parents could , they are now able to give the family members who were making very little money to start off with more money, so now they too can start to get there children educated. The children of Gen 1 , now adults instill the importance of business management to children , buy more property, retire at a early age leave "ABC store" to there children.
Generation 3: Children of Gen 2, Grand Children of Gen 1. Come into the family business highly educated with No debt and very nice saving fund. There only job at this point is to bring as many family members into the family business as possible so they too can prospers at this point they are very Americanized and highly respected within there community The business is now run by almost all family members, the children of GEN 3 who are born with large savings ( for college) can now chose to integrate themselves into the family business OR chose to open there own business (all while continuing the cycle) OR can chose another career path. The "ABC family business" is still in the family and everyone prospers.
Think about every Chinese buffet, 7-11, dunkin donuts , gas station etc run by Indians, Chinese and Arabs THIS is how they operate that how they are able to "make it" here. Its a group survival mentality. They don't wait for no white man hand me out.
So you see its not just about accumulation of wealth and education its about doing those things AND helping others to do it to, not right away but slowly over time.
Pumping gas, dealing with riff raffs that come into your store?