3 Million Americans Got Rich From Boring Businesses. Here's How, with Owen Zidar & Eric Zwick

Economists Owen Zidar and Eric Zwick reveal their research on "Everywhere Millionaires"—roughly 3 million Americans who own private businesses like auto dealerships, beer distributorships, and dental practices, collectively worth more than ten times the Forbes 400. Most of these owners didn't start rich, and many bought their businesses from retiring owners using seller financing. The conversation covers why owning all of a small business can rival a startup equity slice, which unglamorous industries produce the most wealth, how to run cheap experiments to reduce risk, and when to double down versus diversify.