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Why Should I Start a Startup?

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Re: Why Should I Start a Startup?

#271
post #208

Earlier quoted context omitted.

If my husband risked our financials to the point that our 2 years old have to live in car while I am pregnant, the hell I would object. Financial misfortune or unemployment or not having choice is one thing, being irresponsible to that level just because you want to "feel like special doer" quite another. Sometimes it is not the wife, sometimes it is the wife. And other times it is being responsible and considering c…

This. My partner has no problem supporting me and I her; but we work together. And we don't take stupid risks just so that I can feel the thrill of competition. I compete at my job -- I compete with myself to do better, to improve the company against all the challenges set before me, to provide more for my family. There's nothing special about being an entrepreneur other than the privilege and ability to take serious…

This comment swings way too far in the other direction-- of course there is more to being an entrepreneur than privilege. That might help give you a chance at success, but it doesn't come remotely close to making that success a reality!

Re: Why Should I Start a Startup?

#272

Earlier quoted context omitted.

As a counterpoint: My spouse's ongoing education is currently dependent on my regular income. Once she graduates it'll effectively double our collective income and hopefully give her her first good career. I'm not sure how I could sell gambling all of that on a 90% chance of failure even if I wanted to. Sounds like the act of a gambling addict. Also, if you need to gamble your family's livelihood to find out if your…

You don't think financing your spouse education is a gamble? Who is to say you won't get divorced right after she's done? That's honorable, but at the same time a huge risk.

The fact that we were together for 7 years before we were married, and the experiences that came with that. We were a thing long before I had any money to speak of (or any real financial prospects), and she's supported me through quite a bit as I've supported her. If she's milking me for my money then I have no shame, because she'll have outdone Machiavelli several times over to hide it this well for this long.

Sometimes people actually love each other. I'm lucky in that regard.

Re: Why Should I Start a Startup?

#273

Earlier quoted context omitted.

This. My partner has no problem supporting me and I her; but we work together. And we don't take stupid risks just so that I can feel the thrill of competition. I compete at my job -- I compete with myself to do better, to improve the company against all the challenges set before me, to provide more for my family. There's nothing special about being an entrepreneur other than the privilege and ability to take serious…

This comment swings way too far in the other direction-- of course there is more to being an entrepreneur than privilege. That might help give you a chance at success, but it doesn't come remotely close to making that success a reality!

Unsuccessful entrepreneur is still an entrepreneur. Somehow the image of entrepreneurs tend to be someone who succeeded in the end, but plenty did not and they should count too - whether the cause was own mistake or bad luck.

I agree that there are also entrepreneurs that are not privileged and basically can afford risks because it can not get worst. And also enterpreners that don't take unreasonable financial risks - if you know you can get well paid job whenever you want to (as a coder or in friends/familly company) then it is less of risk.

Nevertheless, an original attempt to label responsible decision making as "excuse" and stigmatize it in favour of "following passion" or proving whatever to yourself or other emotions based decision was misguided. I don't know why some people treat it as decision you are supposed to make no matter what circumstances and skills. If they are really naturally ok with it, they should not need others to make the same decision.

Re: Why Should I Start a Startup?

#274

Earlier quoted context omitted.

As a counterpoint: My spouse's ongoing education is currently dependent on my regular income. Once she graduates it'll effectively double our collective income and hopefully give her her first good career. I'm not sure how I could sell gambling all of that on a 90% chance of failure even if I wanted to. Sounds like the act of a gambling addict. Also, if you need to gamble your family's livelihood to find out if your…

>In 10 years I'll likely have enough saved up to seriously consider my own business, and enough contacts/professional clout to go back to regular work if it fails. I'll also have 10 more years of business experience to draw on, likely from at least 2 more companies. Why do a startup now, or God forbid right when I graduated, when I have/had the fewest resources and the fewest advantages? You'll also be a decade older…

Yes to the first three, but my salary will also be 10 years better as will my Spouse's. Low 6 figures combined or better (our target for 10 years) is more than enough for a family and massive savings per year unless you decide to buy a mansion or live in SanFran. Certainly enough to bootstrap something.

The state of my back is thankfully entirely within my control. I stay fit, and that includes keeping my back strong and loose, as well as investing in a good chair and monitor stands (considering a standing desk). I have no desire to walk into work with my head practically below my shoulders like some of my older co-workers.

As for business opportunities, I see no reason why there should be fewer in 10 years. Different sure, but likely just as many. There are still plenty of areas of growth in technology, no reason to think they'll be dwindling in 10 years.

Younger single people do have some advantages. They can undercut experienced professionals on salary and can move at the drop of a hat. Which is why if/when I start a business I won't be competing with 20-somethings on writing CRUD apps. :)

Re: Why Should I Start a Startup?

#275

Earlier quoted context omitted.

This article is selling a narrative that you want to hear with a huge dollop of confirmation bias as andy_ppp points out. It's not very likely that you or your family are that 0.01%[1], but it is very likely that you think you are exceptional. (I wish you all and your family all the best, but one needs to be very careful around this kind of narrativium.) [1] Made up number, obviously.

The opposite side of the problem is that sometimes people continually tell you you're exceptional, talented, capable, and driven, while you point to your record of actual accomplishments and proclaim your mediocrity. And by "you" I of course mean "me".

you could also just have a ton of below average coworkers so your mediocrity is still amazing. This is what happens in highschool sports. Folks mistake "above average" which is get you to college sports (I played D3 I know) with exceptional, eg Pro, or even All Star Pro. Few can even tell at that level.

I enjoyed myself a lot by going to a place where I was continually challenged in a domain I didn't know, games. Learned a ton, including humility, and got way better. It broke a lot of my assumptions or held beliefs with plain evidence to the contrary.

Re: Why Should I Start a Startup?

#276
post #243
post #242

Earlier quoted context omitted.

depends on your definition of rich

$1m/yr

If you want to remain an employee maybe some hedge fund / investment bank quants ? A (senior) partner at mckinsey ? something like that maybe ?

But yeah, 1m/yr is hard if you don't own stakes in the business. And if you make that much as a partner at mc or EY for instance, it's because you have boughts shares of the firm when entering the partnership and that you've worked looong hours for over a decade.

Maybe being super high up at big tech firms through earned stocks ? Well, once you've had a high position at a big tech firm, you can easily go into consulting / start doing conferences and start making real cash. But that'll hardly be before 35-45 years old I don't think.

Re: Why Should I Start a Startup?

#277
post #257

Earlier quoted context omitted.

Yeah that's not gonna happen. Startups are lots of work for low pay, with the lottery ticket that you might be the 1% who makes it out. You ask for a megacorp salary and you'll be laughed out the door.

How exactly are startups supposed to get the best engineers without paying market rate for labour? Given the emphasis on only hiring rock stars, you would think that startups would offer higher salaries than megacorps. Relying on your prospective employee being too dumb to notice the raw deal that she is getting is not a recipe for hiring good employees.

Work and growth opportunities, the promise of being paid out if it succeeds. At a startup you can play with the latest hot technologies and if the startup is growing fast enough you can accelerate your career into positions faster than a large corporation.

Re: Why Should I Start a Startup?

#278
post #229

Earlier quoted context omitted.

A meta observation around the reaction to the word "exceptional" based on some posters' comments: - lomnakkus: "It's not very likely that you or your family are that 0.01%[1], but it is very likely that you think you are exceptional." - deepGem: ", being frustrated with day to day life doesn't make one exceptional." I think the problem here is that Mz's chosen word of "exceptional" makes it look like a superior attri…

"different"? FWIW, at least as far as I can know my own mind, my comment wasn't spurred by any notion of perceiving as OP being "arrogant" or thinking that they are "a special snowflake" or anything like that. It's just that unlikely statistical events are... unlikely even though they often do happen to someone (in aggregate). As an individual, and without compelling evidence, it's simply meaningless to think that yo…

It's just that unlikely statistical events are... unlikely even though they often do happen to someone (in aggregate).

You may think you mean well, but your original comment came across as ugly and dismissive and personally attacking. I didn't provide any evidence that I am some extreme outlier because a) that wasn't the point and b) people who know me already know I am twice exceptional and don't need that elaborated on.

You also fail to understand some basics about statistics and life, the universe and everything and that is this: That which is a longshot is unlikely to happen to any specific individual, but guaranteed to happen to someone. So if it is "one in a million odds," with a human population of 7 billion people, there should be 7000 such people somewhere on earth.

Given that this is the internet, you can easily run into any one of those 7000. Like you, they just need an internet connection, which is as common as dirt these days. You could even stumble into a forum that, for some reason, tends to aggregate such individuals. In which case, dozens, hundreds or even thousands of the people actively participating in the forum could well be that "1 in a million" outlier.

You completely misread my original comment and then personally attacked me and told me that I am basically an idiot who just likes the narrative they are selling. Nothing could be further from the truth.

I was Director of Community Life for a few months for The TAG Project. While I was director, I got support for attending a gifted conference in the Boston area and I heard speak or met some of the luminaries in the gifted field, such as Kathi Kearney.

Prior to the conference, Kathi Kearney was already internet familiar with me due to my work for The TAG Project, and we had a nice little conversation following her presentation. Based in part on that conversation, I strongly suspect that my oldest son's IQ can be guestimated as "probably over 200, possibly waaaaay over." He also has such big problem areas that he was almost an idiot-savant when he was a child, and I really had to work with him to get him functional in some areas.

We will never know what his IQ actually is because you cannot accurately peg an IQ that high with adult testing and he is now 30. Last I heard, such people need to be properly assessed by a qualified professional specializing in such things by about age 7 in order to have any kind of accurate IQ number (and he was 12 before he was identified as gifted, in part due to his poor school performance).

So hand-wavy guestimates based on mom's discussion with some luminary in the gifted field is as good as it will ever get. That and perhaps someday he will be famous for his work and widely lauded as a "genius." That would be cool, but I honestly don't care if it goes that way or not. Such things are not hugely important to me. They never were, which is why I gave up my National Merit Scholarship in my teens, dropped out of college and went and did the wife and mom thing for a lot of years. (shrug)

Re: Why Should I Start a Startup?

#279
post #237

Earlier quoted context omitted.

This article is selling a narrative that you want to hear with a huge dollop of confirmation bias as andy_ppp points out. It's not very likely that you or your family are that 0.01%[1], but it is very likely that you think you are exceptional. (I wish you all and your family all the best, but one needs to be very careful around this kind of narrativium.) [1] Made up number, obviously.

I'm not sure exceptional is the right word. I wouldn't even call it 'gifted'. Maybe its just being able to function better when the conditions are not ideal and the pressure is up, as opposed to when things are fine and there is nothing to worry about.

There are multiple definitions of gifted, including "having a special talent." It doesn't inherently mean that someone has a genius level IQ. By various definitions, 10 percent or more of the population can qualify for the label, last I heard, back when I was involved in such things.

Re: Why Should I Start a Startup?

#280
post #62

He sounds twice exceptional -- gifted, but with some sort of learning disability or handicap of some sort. Twice exceptional people often appear to be "average" but find an "average" or normal life enormously frustrating. Because of having some sort of handicap, it can take a lot to get them going. Once they get going, they often outperform others. Life is vastly better for them when they can create their own niche b…

Twice exceptional people often appear to be "average" but find an "average" or normal life enormously frustrating Like all correlation to causation misconceptions, most people read this and imply the converse. I find the normal life exceptionally frustrating, so I must be exceptional, hence I must do a startup. I am questioning if this is indeed true. I believe that this is a misconception, being frustrated with day…

most people read this and imply the converse.

I am not responsible for strangers on the internet reading my comments and twisting them to mean something I did not intend at all. I have been online long enough to know that it is not possible to open my mouth online at all without someone, somewhere wildly misinterpreting my words and having zero desire to make a good faith effort to actually understand my point. I do my best to frame things carefully, but, to some extent, I have simply had to make my peace with the fact that people are gonna people and there is nothing I can do about that.

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