Why I Quit My Job to Start a Tech Company • Hacker News Board

Re: Why I Quit My Job to Start a Tech Company

#71

Post by zem » Thu, Aug 04, 2011, 5:44 AM UTC

UncleOxidant wrote: post #10

Doing the opposite now. Spent the last year in a very early stage startup. Finally got fed up with the low pay ("but we're giving you equity...") and the lack of direction. It seemed like every other week we had a new direction. And the latest new direction was so bizarre that I'm tempted to make a mockumentary about the whole thing. Finally had enough of the startup scene; I'm going to go to work for a very large se…

same here - gave six years of my life to a startup, finally threw in the towel, joined a large company and (three weeks into my new job) have never been happier at work.

Re: Why I Quit My Job to Start a Tech Company

#72

Post by tzuptzup » Thu, Aug 04, 2011, 6:17 AM UTC

ca136 wrote: post #62

kevinskii wrote: post #59

Earlier quoted context omitted.

A person who spends his childhood as a poor immigrant and then goes on to achieve considerable financial success through hard work and merit is "accomplished," not "privileged." That he would be willing to risk everything on a startup is indeed courageous.

As other people have mentioned, it's a lot easier to try a startup when you've had a chance to save money from a $250,000 salary. Plus, you have the experience working for a big PE firm so you know you can always find another great job. I love hearing these stories, but his 'risk' wasn't really as great as someone who quits an $80,000 job with $10,000 in savings. I know that story too well :)

Indeed, but still, you gotta give him some credit. Not sure that I would take a shot at entrepreneurship given a comfy six figure salary.

Re: Why I Quit My Job to Start a Tech Company

#73

Post by rogerjin » Thu, Aug 04, 2011, 9:26 AM UTC

UncleOxidant wrote: post #10

Doing the opposite now. Spent the last year in a very early stage startup. Finally got fed up with the low pay ("but we're giving you equity...") and the lack of direction. It seemed like every other week we had a new direction. And the latest new direction was so bizarre that I'm tempted to make a mockumentary about the whole thing. Finally had enough of the startup scene; I'm going to go to work for a very large se…

curious that this is the top rated comment. Seems a lot of people have had this experience. It's a shame that you joined a startup with no direction. Give the scene another try. There are entrepreneurs who know what they're doing.

Re: Why I Quit My Job to Start a Tech Company

#74

Post by pagejim » Thu, Aug 04, 2011, 10:59 AM UTC

UncleOxidant wrote: post #10

Doing the opposite now. Spent the last year in a very early stage startup. Finally got fed up with the low pay ("but we're giving you equity...") and the lack of direction. It seemed like every other week we had a new direction. And the latest new direction was so bizarre that I'm tempted to make a mockumentary about the whole thing. Finally had enough of the startup scene; I'm going to go to work for a very large se…

One yearns to work in/start a startup, yet the other side of mind is too accustomed to the stable, perhaps a bit predictable and boring, life that comes with a job in a stable company. Its a hard choice!

Re: Why I Quit My Job to Start a Tech Company

#75

Post by astrec » Thu, Aug 04, 2011, 12:39 PM UTC

jhen095 wrote: post #70

jjtheblunt wrote: post #50

One observation: the slight against Warren Buffett is unmerited and undeserved. He is at least as good an example as this person of not living lavishly even with adequate money to do so.

My interpretation of this "slight" is that Warren Buffett uses money as a measure of success. It does not imply any sort of lifestyle just that he strives to be more successful and that means having more dollars. After having read a biography on Mr. Buffett I agree with OP on this and disagree that it is "unmerited and undeserved"

Of course he uses money as a measure of success, he's an investor!

Buffet did an interview on CNBC some years ago where the question where he was asked about success and his reply was something to effect of "Success doing what you love and doing it well".

This rings true to me.

A little anecdote told by my father in law, who was Buffett's pilot for a time, tells of Buffett being welcomed home to Omaha by a hostess. On remarking that he'd lived in the same house for 50 years it's claimed she said "Gee! You must have a lot of equity in that house Mr. Buffett."

Whether this speaks to the unpretentiousness of Warren Buffett or the unworldliness of the hostess is an exercise for the reader.

Re: Why I Quit My Job to Start a Tech Company

#76

Post by prpatel » Thu, Aug 04, 2011, 3:23 PM UTC

UncleOxidant wrote: post #41

agotterer wrote: post #21

Earlier quoted context omitted.

Startups aren't for everyone and not all startups are created equal. It would be unfair to assume all startups are misdirected and low paying. There are plenty of positions that pay market rate salaries and give equity. While you can definitely make a greater base salary at a semiconductor company or "adult" job. You miss out of the potential upside of startup equity, the excitement of a growing startup, wearing many…

> Startups aren't for everyone and not all startups are created equal. It would be unfair to assume all startups are misdirected and low paying. True. Didn't mean to imply that. This particular one was misdirected and low-paying. > You miss out of the potential upside of startup equity How many startups actually make it to the point where the equity is worth something? I'm guessing it's under 5% of them (even in good…

Over here at TripLingo, we collaborate on the direction of the company. Our fearless leader(tm) however, has set the vision from the beginning, and continues to impress the vision with some small tweaks as we've moved forward. But we're a small team still - only 6 core folks - so YMMV if you're in a larger startup.

Re: Why I Quit My Job to Start a Tech Company

#77

Post by polyfractal » Thu, Aug 04, 2011, 7:44 PM UTC

ca136 wrote: post #62

kevinskii wrote: post #59

Earlier quoted context omitted.

A person who spends his childhood as a poor immigrant and then goes on to achieve considerable financial success through hard work and merit is "accomplished," not "privileged." That he would be willing to risk everything on a startup is indeed courageous.

As other people have mentioned, it's a lot easier to try a startup when you've had a chance to save money from a $250,000 salary. Plus, you have the experience working for a big PE firm so you know you can always find another great job. I love hearing these stories, but his 'risk' wasn't really as great as someone who quits an $80,000 job with $10,000 in savings. I know that story too well :)

On the flipside, someone who makes very little also knows how to live with very little. I make $30k and have $5k in the bank - I am not terribly worried about quitting my job in the near future. I already make garbage salary, living off my own savings won't be very different.

Re: Why I Quit My Job to Start a Tech Company

#78

Post by Iv » Fri, Aug 05, 2011, 4:10 PM UTC

Maro wrote: post #29

Iv wrote: post #6

Earlier quoted context omitted.

Props for that but I am not sure that replacing the money metrics by the buzz metrics is the way to go.

This thread is freaking me out =) So you start a company and you're not supposed to care about money nor buzz? So how do you measure success? The answer for a for-profit company must ultimately be money.

It is about the success of an individual, not about the success of a company.

The success of a company, IMHO (and in the not so humble opinion of M. Ford) has three components : the bottom line, the reputation and the employees. So yes, buzz and money are on the top 3.

Re: Why I Quit My Job to Start a Tech Company

#79

Post by bane » Mon, Aug 08, 2011, 4:45 PM UTC

UncleOxidant wrote: post #10

Doing the opposite now. Spent the last year in a very early stage startup. Finally got fed up with the low pay ("but we're giving you equity...") and the lack of direction. It seemed like every other week we had a new direction. And the latest new direction was so bizarre that I'm tempted to make a mockumentary about the whole thing. Finally had enough of the startup scene; I'm going to go to work for a very large se…

So what you're saying is that pivoting is different than thrashing about?