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Ask HN: Is it too late to do a startup after 35?

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Re: Ask HN: Is it too late to do a startup after 35?

#31

Post by drawkbox »

Not at all, developers usually don't really have the scope to put out great products before then It takes a good 10 years of coding before you can make products from design to development to maintenance and live mode, and some good working time to understand problems that need solving.

You are actually in the prime age for entrepreneurship. Go get it.

Paul Graham and Robert Morris started Viaweb when they were 31/30 years old and sold it after a couple of years.

VCs do want younger because it is better terms/leverage (http://business.time.com/2013/03/14/ask-the-expert-the-best-...) but if you have a good company/product that is investable you will get investment, or if you make a product people want, people will want it if you get it in front of them. I think the bias toward funding only young is also probably harming products differentiation.

However you can understand why VCs go younger, mainly because success of those kids is like an emerging underground band that might sell out stadiums one day. They want in earlier than other VCs or before anything of value has been created so it is under their umbrella. VCs are hipsters in that they are trying to find value before others see it.

VCs main goal is to pan for Zuckerbergs like gold upstream from the blue ocean well before the red ocean, because in 5-10 years time they might be their 1 in 10 successes needed. It is a risk they are willing to take to get potential big companies very early.

But you can build a company that makes you a success where you can create your own freedom at any age, you might do it so well you don't need investment, or it may make your company more robust and market tested because you have to bootstrap instead of seeking investment.

Great people with great products find a way.

Some links on ages of entrepreneurs:

http://www.quora.com/What-successful-Internet-entrepreneurs-...

http://www.forbes.com/sites/krisztinaholly/2014/01/15/why-gr...

http://techcrunch.com/2011/05/28/peak-age-entrepreneurship/

https://hbr.org/2014/04/how-old-are-silicon-valleys-top-foun...

http://venturebeat.com/2014/10/31/why-middle-aged-entreprene...

https://smallbusiness.yahoo.com/advisor/older-entrepreneurs-...

Re: Ask HN: Is it too late to do a startup after 35?

#33

Post by wooyi »

The biggest challenge I find with ex-corporate mid 30s folks is their inability to reduce their personal burn and lifestyle in order to survive the startup process to succeed. The question you're asking is the wrong one. It's not how old you are. The question is, can you do without your pay, sustain your family (if you have one) and the mental stress around that, for 18-24 months before your startup becomes profitable (or you raise money).

Usually from mid 30s people, the answer is hell, no.

Re: Ask HN: Is it too late to do a startup after 35?

#34

Post by lscore720 »

Of course you're not too old! I highly recommend taking a vacation or simply stepping outside of your bubble first - this'll be a big part of determining product/market fit if you're trying to make something viable for the masses. At your age, it's important to have the wisdom & experience to separate fact from fiction in start-up success stories.

Re: Ask HN: Is it too late to do a startup after 35?

#35

Post by USNetizen »

wooyi wrote: post #33

The biggest challenge I find with ex-corporate mid 30s folks is their inability to reduce their personal burn and lifestyle in order to survive the startup process to succeed. The question you're asking is the wrong one. It's not how old you are. The question is, can you do without your pay, sustain your family (if you have one) and the mental stress around that, for 18-24 months before your startup becomes profitabl…

Actually, the answer is most commonly yes, and more so than someone in their 20's that is burdened with student debt and no experience or industry contacts. Mid-30's people have savings, assets, credit history and other funds. Plus, they potentially have a spouse to cover expenses while the startup grows. That is the best kind of investment in terms of supporting a new business.

The stats don't lie - the average founder is late 30's to early 40's. The 20-something wunderkind is a Silicon Valley thing, not reality for the rest of the country's businesses.

Re: Ask HN: Is it too late to do a startup after 35?

#37

Post by rgrieselhuber »

seanmcdirmid wrote: post #23
USNetizen wrote: post #4

You are absolutely not too old. Actually, contrary to the Silicon Valley stereotype, most startup founders are between their late 30's and early 40's - where they have the perfect mix of remaining youthful drive and critical industry experience (it is also, coincidentally, the age range where fluid intelligence of youth and crystallized intelligence of wisdom intersect and balance out). The fastest growing startups a…

If you have a family, obligations, the amount of risk you can take on might be more limited. It's ok taking equity in leui of a decent salary in your 20's when single, but this is much harder when life goals change after having a kid.

This largely depends on if your spouse prefers security and predictability over risk and adventure, as well as your ability to persuade them towards the latter.

Re: Ask HN: Is it too late to do a startup after 35?

#38

Post by rayiner »

seanmcdirmid wrote: post #23
USNetizen wrote: post #4

You are absolutely not too old. Actually, contrary to the Silicon Valley stereotype, most startup founders are between their late 30's and early 40's - where they have the perfect mix of remaining youthful drive and critical industry experience (it is also, coincidentally, the age range where fluid intelligence of youth and crystallized intelligence of wisdom intersect and balance out). The fastest growing startups a…

If you have a family, obligations, the amount of risk you can take on might be more limited. It's ok taking equity in leui of a decent salary in your 20's when single, but this is much harder when life goals change after having a kid.

Single people have to feed and house themselves--married people can often lean on their spouse. My former boss started the company in his late 30's, after working in industry and having three kids. His wife paid the bills, allowing him to bootstrap without having to seek outside investment.

Re: Ask HN: Is it too late to do a startup after 35?

#39

Post by kabdib »

About 15 years ago I met a 65 year old (a founder of Adobe) who was considering "taking another run at the fence."

The term "taking another run at the fence" refers to flocks of turkeys, who are often crushed against short fences when the flock panics. They are stupid birds and don't know that they are able to fly above the fence.

For me, the considerations are:

- Time away from family

- Likelihood that the compensation will ultimately be crap

I can compensate for the long hours by taking care of myself, and by working smart.

Re: Ask HN: Is it too late to do a startup after 35?

#40

Post by vidarh »

seanmcdirmid wrote: post #23
USNetizen wrote: post #4

You are absolutely not too old. Actually, contrary to the Silicon Valley stereotype, most startup founders are between their late 30's and early 40's - where they have the perfect mix of remaining youthful drive and critical industry experience (it is also, coincidentally, the age range where fluid intelligence of youth and crystallized intelligence of wisdom intersect and balance out). The fastest growing startups a…

If you have a family, obligations, the amount of risk you can take on might be more limited. It's ok taking equity in leui of a decent salary in your 20's when single, but this is much harder when life goals change after having a kid.

There was a period after my son was born where I definitively wouldn't have tried another startup, but that too changes quickly (he's 6 now)

And while, yes, I can't gamble my income as I could before, I've never gone more than 1 month without income despite having been through more than half a dozen startups, and I've never had to trade a decent salary to get equity other than at my first startup (at 19; we were all clueless of business and hopelessly underfunded - we started an ISP with about $50k and lived on our student loans for the first year).

Maybe I've just been lucky, but fear of losing my salary just does not factor in to me. Nor does the idea of having to sacrifice salary. When joining my last startup, I took 7.5% in options coupled with a salary offer 20% above my previous job, with the only sacrifice being that I put in evenings and some weekend work for "free" for a few months before our A round closed.

Incidentally the founders of the last startup I mentioned above were both older, one of them had three young children, and a wife who worked part time on another startup.

Many at my age have reached the level of financial stability where setting aside enough savings to be secure for a year or two of uncertain income is easy enough to even make bootstrapping less stressful if I were to opt for that.

The biggest change for me is that my priorities have changed. I'm not so interested in chasing after the billion dollar exit, as I've come to realise how little money matters to my happiness, and that will change how/when/what I do next time I start a company or join another startup.

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