Great post. There is research done at the MiT that also supports the fact that intelligent people (ppl with high iqs) find it difficult to make choices and stick to them even after having known which choice is most likely to benefit them the most.
His examples are wrong though, it's much better to move from being a drugdealer into other legal businesses, even with the cost of learning, than to stay where you are. So yes, drug dealers should make iPhone apps (or buy realestate etc...)
it's much better to move from being a drugdealer
into other legal businesses, even with the cost of
learning ...
Exactly. The question to ask is whether what you know now is what you should know tomorrow (or, is what you knew yesterday still appropriate for today).
And then decide if the cost of transferring is worth it.
A problem with sticking with what you know and what has brought you success in the past is that times and markets change.
The gigolo probably should open a bike shop. But hire someone to run it. Running a bordello is likely to get his ass in jail. Which also suggests that not every move to a related field makes sense. Going form one dubious activity to another dubious activity might not be the best business choice.
One issues I've seen with developers who want to have a business is that they tend to stick to what they know, while not checking to see if what they know lends itself to a sustainable business.
Stability is hugely under rated these days.