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Research: The Average Age of a Successful Startup Founder Is 45

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Re: Research: The Average Age of a Successful Startup Founder Is 45

#101

Post by cabaalis »

conductr wrote: post #61
opportune wrote: post #46

Earlier quoted context omitted.

“Non-technical cofounder in early 20s” sounds like a massive red flag to me. Ideas are cheap, execution is what matters

This is common sentiment but I disagree. As a tech person, I’d much rather partner with a non-tech person already selling and raising funds. Sounds like a winning combo but the parent just didn’t want to go on the path this specific person was heading down.

I've always been better with an "idea man" to work with. I'd be careful though with an inexperienced non-technical cofounder, as they tend to not understand the intricacies of implementation. Setbacks will happen, and I have seen non-technical cofounders place a ton of blame on the technical ones when things go wrong. A rift in the relationship could mean the end of the business.

Re: Research: The Average Age of a Successful Startup Founder Is 45

#102

Post by sien »

Swizec wrote: post #97
brianwawok wrote: post #86

Earlier quoted context omitted.

I am not sure it ignores it. For someone who is 18 and very creative, the facts you posted could be helpful to say that they have a chance to be insane lucky if they have the aprox 1 in a billion set of skills and timing required to make it to market. On the other hand, the stats in the article point out that for someone in their 30s or 40s, they have 1/(10? 50?) chance to be able to found a successful startup, for s…

Lady Gaga worked hard and got rich and famous. But you’re probably not Lady Gaga. It’s funny that we understand this hit-based reality for music, tv, movie, and sports stars, but can’t seem to grasp it when it comes to startups.

Surely it's understood.

The difference is that far, far fewer people have a moderately successful entertainment career compared to the many people who have successful software development careers.

With startups the distribution would be less like software developers but still not as extreme in terms of outcome as for entertainment. Ff you have a company that you sell for 5M or whatever that you own a quarter of you've done very well by normal standards but barely feature in value with the huge tech companies.

Re: Research: The Average Age of a Successful Startup Founder Is 45

#103

Post by readhn »

georgewsinger wrote: post #84

These studies often ignore the power law. The vast majority of value generated in tech is powered by a tiny number of companies. Here are the five most valuable tech companies as of 2017 vs. the age of the founders: 1. Apple: $570.7B explained - Jobs: 21 - Woz: 26 2. Alphabet: $560B - Larry/Sergey: 25ish 3. Microsoft: $434B - Gates: 19 - Allen: 22 4. Amazon: $365B - Bezos: 29 5. Facebook: $354B - Zuckerberg: 19

These are once in a life time exceptions - all these people were there at the exactly right point in place, history and time. A lot of people have done very well for themselves who were there at the exactly the same point time ("millionaire good").

In the majority of all other cases - experience combined with additional ingredients leads to success.

Re: Research: The Average Age of a Successful Startup Founder Is 45

#104

Post by readhn »

canadapups wrote: post #50
formalsystem wrote: post #29

I always find it interesting when these sorts of threads are posted. I for one look at them as am I too old to be starting my own company or should I chill out because I still have time. Fundamentally I think there's limited value in drawing lessons from these stories because you're probably your own best judge of whether you should quit your job or not. Your risk tolerance lowers as you get older but your skills wil…

I learnt to code and started my online business in my 30s because it's fun. Age shouldn't stop anyone from fun.

30s is young. 20s is still a child.

Re: Research: The Average Age of a Successful Startup Founder Is 45

#105

Post by antoniuschan99 »

bonestamp2 wrote: post #25
adventured wrote: post #12

Earlier quoted context omitted.

I'm in my late 30s now, after two decades as an entrepreneur. My brain was quicker at 21, memory was slightly stronger (slightly faster, easier recall), and I had greater endurance at working productively in very long stretches. And despite that, due to learning how to work more effectively, how to be far more productive with my use of time, understanding what mistakes to avoid, I'm a dramatically better entrepreneur…

I met with a non-technical cofounder a few months ago who is in his early 20s. He had a great idea for a product and was looking for a technical co-founder (he also had an investor who already put up some money and he was already deeply involved in the sales channel and had two customers already sold). I have no doubt this product would very successful. Probably not a unicorn, but could make a few people quite wealth…

It's all about the focus.

In the end, the system that a company is built from will be complex.

Execution is about knowing which parts of the system should be complex and which parts should be simple.

Re: Research: The Average Age of a Successful Startup Founder Is 45

#106

Post by simonebrunozzi »

ekanes wrote: post #45
simonebrunozzi wrote: post #26

Earlier quoted context omitted.

I am 41, startup CEO for ~14 months, and currently having one of the worst days since the company started. (edit: actually, the worst day period). Although you might be right on statistics, I am 100% sure 10 years ago I wouldn't have had the maturity or the experience or the grit to face this day, the way I do right now. Also, don't forget that today's returns are huge, compared to 10-20 years ago, and that today's e…

Sorry to hear about today. Hang in there, you got this!

Thanks!

Re: Research: The Average Age of a Successful Startup Founder Is 45

#107

Post by ehnto »

georgewsinger wrote: post #84

These studies often ignore the power law. The vast majority of value generated in tech is powered by a tiny number of companies. Here are the five most valuable tech companies as of 2017 vs. the age of the founders: 1. Apple: $570.7B explained - Jobs: 21 - Woz: 26 2. Alphabet: $560B - Larry/Sergey: 25ish 3. Microsoft: $434B - Gates: 19 - Allen: 22 4. Amazon: $365B - Bezos: 29 5. Facebook: $354B - Zuckerberg: 19

There is chasm between a small business and a $570b business and all of it is still success.

Re: Research: The Average Age of a Successful Startup Founder Is 45

#108

Post by ablekh »

georgewsinger wrote: post #84

These studies often ignore the power law. The vast majority of value generated in tech is powered by a tiny number of companies. Here are the five most valuable tech companies as of 2017 vs. the age of the founders: 1. Apple: $570.7B explained - Jobs: 21 - Woz: 26 2. Alphabet: $560B - Larry/Sergey: 25ish 3. Microsoft: $434B - Gates: 19 - Allen: 22 4. Amazon: $365B - Bezos: 29 5. Facebook: $354B - Zuckerberg: 19

These are outliers (as unicorn companies are, in general).

Re: Research: The Average Age of a Successful Startup Founder Is 45

#110

Post by solveit »

georgewsinger wrote: post #84

These studies often ignore the power law. The vast majority of value generated in tech is powered by a tiny number of companies. Here are the five most valuable tech companies as of 2017 vs. the age of the founders: 1. Apple: $570.7B explained - Jobs: 21 - Woz: 26 2. Alphabet: $560B - Larry/Sergey: 25ish 3. Microsoft: $434B - Gates: 19 - Allen: 22 4. Amazon: $365B - Bezos: 29 5. Facebook: $354B - Zuckerberg: 19

Sure, I could believe that young people have a better chance of founding a $100B business. But I (and almost everyone else thinking about founding a startup) isn't going for the $100B moonshot, just becoming your "everyday" successful entrepreneur with a <$100M exit is quite enough, and I find it very plausible that 45 year olds are much, much better at building those.
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