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I am done. I give up

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Re: I am done. I give up

#601
post #332
post #312

Earlier quoted context omitted.

You really don't think there is already more than enough inequality? I get the case for some capital accumulation. Capital does make for an amazing economic engine that we all benefit from. Capitalist countries are richer than non capitalist countries. Easy to understand. But there is a point where more capital accumulation and inequality just makes the rest of us become serfs to oligarchs.

I think we need more Elon Musks, yes. Although, obviously, we don’t want more people who got rich by being politicians.

Funny, I’d cite Elon Musk level capital accumulation and his decisions on how to allocate his capital over the last year as a perfect case study of the theory that, while capital accumulation can be a good thing, we also don’t want all our eggs in too few baskets.

Re: I am done. I give up

#602
post #200

Earlier quoted context omitted.

This is one of the underappreciated benefits of the Nordic-style welfare state: everybody can afford to fail. Unfortunately it's rarely discussed in society as such. The political parties that built these welfare states have traditionally been associated with worker unions, and entrepreneurship isn't high on their agenda. The Nordic right-wing parties got ideologically married to Thatcher-style neoliberalism and pref…

My intuition is that effective entrepreneurs generally have a strong conviction that they won't fail, and in any case wouldn't want to fall back on taxpayers if they did. They will also disproportionately be averse to paying social democratic tax rates once they, in their mind, inevitably succeed.

Travis Kalanick (Uber's founder) collected unemployment while working on his startup.

Re: I am done. I give up

#603

Since the late 90s, the fastest way to make money by doing very little is selling 'internet marketing' strategies. These strategies do work if you have a large following. They mostly do not work, at all, if you do not. So if you have a mailing list with engaged users (not bought), 100k+ twitter followers etc. The tips / books these people sell are usually actually from their own experience and they usually indeed mad…

Sounds like a 0-sum-game.

Just remember: There are only so many people willing to be suckered by the same pitch; so if you're selling a dream, your dream needs to be different enough so you can find new suckers.

Re: I am done. I give up

#604

I think programmers are often dismissive of business people. Most of us could probably do marketing or managerial jobs if we were interested since we're the ones who really build the product. How hard can the business side be right? People who are serious about business study MBAs for several years, because there's a lot to learn. You're not just going to learn it by reading some influencer blog posts. When you're pr…

> strategic. If you can assess a business idea like an investor you'll stop wasting time on things that are hopeless prospects to begin with Can you define this?

The main things are a huge (ideally uncontested) potential market and a sustainable competitive advantage (i.e. moat). This means it's VRINE - valuable, rare, inimitable (can't be copied), non-substitutable (nothing else will do), exploitable (people will pay for it).

What is VRINE may be proprietary technology (ideally patented), key strategic partners (e.g. suppliers, distributors, collaborators), or perhaps brand if you're first to market. You also need the relevant resources and capabilities (i.e. skills) to be able to make it happen or attract people who can help you.

You should be at the leading edge of a new trend before other people are aware of it so you can become the dominant product ("blue ocean") and become associated with the product category itself. However, this is easier said than done since innovation is often messy, with no clear end point, so agility and learning is key. Also, Apple were consistently second movers, in which case you need a clear differentiator (think Stripe focussing on ease of use, Apple on design, etc.).

You may also want to research value chain reconfiguration. This explains how you can avoid competing head-on in established industries in ways the incumbents just can't respond to rapidly because it cuts against the core of their business model. The classic example is low cost airlines.

These aren't hard and fast rules. But check out the Innovator's Dilemma to see why entrepreneurs will always be needed.

Re: I am done. I give up

#605
My advice, pivot to crypto. If you build anything, literally "anything" of actual substance, you can raise 7 figures easily in the next bull market. I've seen absolute dogsh*t nft projects and projects with barely working landing pages and no users raise millions. If you build an actual working product, then the incentives and grants on the layer 2 chains like Optimism and Arbitrum are there for the taking

Re: I am done. I give up

#606
post #556
post #544

Earlier quoted context omitted.

[flagged]

Please review the HN Guidelines before commenting. https://news.ycombinator.com/newsguidelines.html

I mean you're not wrong but you missed my point. There's always an angle. That's how everyone succeeds. You find your angle and you exploit it. Everybody has at least one.

You choose here to focus on the fact that some people have more angles available to them than others. You call them privilege and believe them to be unjust. If you do that too much, you'll defeat yourself and destroy your own agency.

Maybe you're right, maybe they are unjust, I do have opinions on that sort of thing, I also think the best places to indulge those opinions are at the ballot box and at my desk writing checks to nonprofits. I mean I do screw this up and focus my time/energy/attention on them at inappropriate times. But I know it is a screw-up when I do it. No one is serving the greater good by wasting time.

Re: I am done. I give up

#607
post #404
post #282

Earlier quoted context omitted.

Disclaimer: solo bootstrapper, currently growing reasonably, but still way below 1M ARR. I did start with a pilot / first customer and then started doing cold outreach, while trying SEO/ads/social without much success for a few years. I tried combining both product-led and sales-led, and addressing a lot of different kinds of businesses, but this ended up making my go-to-market more complicated and resulted in almost…

Looking to pivot to a similar approach, any chance I can reach out to you or follow you on Twitter?

Ditto

Re: I am done. I give up

#608

Earlier quoted context omitted.

> A big fact of the entrepreneur world is that it is hugely based on luck. And for anything with bigger ambitions than a lifestyle business, don’t forget connections. Most founders are still men from Ivies or Stanford. Just look at the “PayPal mafia” to see how inbred tech investing can be. Not that most entrepreneurs need or should expect VC funding, but this is HN, run by a VC. You can totally run a business and be…

Personally, I have a problem with the term lifestyle business. Without plenty of VC money, building and running a business is hard . VC backed up start-ups fit the "lifestyle" business definition a lot better, IMHO. One can play CxO, or chief engineer or whatever fancy title one wants to hold without putting the effort and years in, without actually worrying about those nasty things like profitability, cash flow or a…

Even with VC money, running a business is very hard. Accepting VC money means you just sold a big chunk of your business to people who want to see it grow at maximum rate at any cost. Most won't blink an eye at burning out every single employee including the founders, for example.

Running a business is always hard and will always be hard, since it's a competitive activity against other humans who are also clever, hard-working and ambitious. Non-hardworking founders need an incredible niche or they will eventually be driven out by competitors who are just as smart but work harder.

Re: I am done. I give up

#609
post #10

A big fact of the entrepreneur world is that it is hugely based on luck. Luck of finding the right idea, the right market, the right timing, the right connections, the right customers, the right employees, the right financing. The basic fact is that most startups and most entrepreneurial dreams fail or get consumed by another for their talent/clients. And as an entrepreneur you fight against all odds. Most will fail…

What’s unique about entrepreneurship is that, once you earn enough from it, it can fully replace your work.

“Hobbies”, relationships, family, etc don’t do that. If you can’t find fulfillment in your 9-5 you’re still stuck grinding through it everyday looking forward to get back to those things. 8 hours every weekday. A HUGE chunk of your life.

Re: I am done. I give up

#610
post #320

Succeeding in the startup world reminds me of the funfair analogy: The rich kid will have a go at throwing the dart at the balloon, and miss. But, because they're a rich kid, they just take out their wallet (or parents' wallet), get more stubs, and try again (and again) until they hit the balloon. The middle class kid will have a go at throwing the dart at the balloon, and also miss. Then they will walk away, saying…

So…you’re a rich kid?

Heh, it's been a tumultuous ride for my family.

Paternal grandad was a civil servant, and they were comfortable, but grandad died when dad was 6. Granny married a drunk and lost everything. Step-grandad beat them. My dad grew up a rebel. His saving grace was a teacher who said: I don't care if you don't come back to school, but promise me one thing: you'll read a book a week.

Mum and dad meet quite young, and have me when mum was still a teen. We're dirt poor, and they borrow a lot of money from maternal grandad, who is a gold miner with 7 kids. He gets my dad a job at the mine. The 80s in South Africa were boom years for gold, and everyone does well. My dad pays maternal grandad back all their debts, and I distinctly remember how our lives changed as a young chap. Not rich by any stretch, but we're not hungry or shoddily dressed. My dad is smart enough to spend money on important things, like getting us a home PC, and paying for skills, like my Karate and scuba diving.

However, in my late teens, things start changing again. Jobs dry up for dad, mum leaves him, he falls into depression. Finances rise and fall as dad gets back into work, and makes a bit of money day trading. I drop out of uni, as we can't pay for it anymore.

He meets a nice new lady, who inherited a piece of land, and they scrape just about enough money and know-how together to start developing the first phase of a four-phase development. But, he gets fucked by the bank.

https://en.wikipedia.org/wiki/Absa_Group_Limited#Mortgage_lo...

Three weeks after my wedding in 2014, he commits suicide. Either severely depressed, or so that the bank can't come after him. He leaves whatever they have left in a secure estate to the grandchildren, and stepmum can live in the house until she dies. The kids (me and sis, and 3 step sisters) inherit nothing.

Me? I was privileged enough to learn programming in school. The gold mines funded the schools well, and in 1990 already (when I was 11/12), our classroom had 20 Commodores in it. That was my saving grace: coding. I could earn good money, and self-fund most of my bad decisions.

(My first startup: we won Startup weekend, then got a £50K grant from Telefonica - all pure luck, and a little bit of tapping into the zeitgeist at the time: polling apps)

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