Introduction

Josh Barren and Rob Lockenauer are co-authors of the article Do Most Family Businesses Really Fail by the Third Generation, published in Harvard Business Review last year. The three generations rule of law is almost a generation ago to begin with but there's not really any support for the idea that most wealthy people are poor again by the time the third generation comes along. Josh: There's this myth, when we talk about the three generations mythology, it's really this notion that the businesses are doomed to fail.