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I am done. I give up

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Re: I am done. I give up

#791
After building a few startups and working at a few, I spent a lot of years advising people who wanted to start a startup, and 99% of the time I told them not to waste their time and money. They massively underestimate how hard and expensive it will be, how many skills are needed... and how much LUCK has to do with it.

With my million dollar startup, it was years of research and stupidly hard work, and I had a tech and marketing background to build off of... and I had the luck of meeting the assistant to an Internet marketing "guru" in a bar and giving them a ride home. That assistant got the marketer to promote my product, which got others to promote. Without that bit of luck, it wouldn't have been nearly as successful. In truth, I probably would have gone bankrupt.

Another example... the year that YC startup school accidentally let everyone in, they had a speaker who was talking about what market fit looks like. They failed over and over again, building stuff nobody cared about. They had wasted nearly $500k of investment and were down to the last few dollars, and one of the founders had an idea. The guy speaking implemented it just to prove his cofounder wrong! That idea went viral and they grew into a unicorn.

In my opinion the talk wasn't about market fit. It was a cautionary tale about how lucky you need to get. Last I checked, I read that 82% of venture funded startups fail, even with all that money, talent, and connections. We rarely hear about them. We hear about the success stories, which expound upon the hard work and great idea and seem to overlook how much luck was a factor - and it always is a giant factor.

Having said that, I do think success can be engineered for some startups, if you have the time, money, patience, and constitution to go through lots of small quick failures to find that market fit, and then build your product with the support of a community. And, I think luck can be engineered for some people, like by going to conferences, being nice and providing value... and by befriending the assistants of influential people.

Re: I am done. I give up

#792

My current advice, which seems to be working well so far, is to do small tasks for huge government corporations and organizations for FREE, no questions asked. Don't know how well this could work in the American context, but this has worked for 3 places I've lived in (UK, UAE, India). You don't earn cash but you will earn an INSANE amount of goodwill and connections. The next time, they need a tech solution, they'll…

Any outreach examples?

Just an instance, I built a small feature module for the local transport authority, which could be easily integrated into their existing app. Through that tiny bit of weekend work, I was appreciated by the CEO of the public transport department of the transport authority. I could use him as a reference to get many further connections.

Re: I am done. I give up

#793

After building a few startups and working at a few, I spent a lot of years advising people who wanted to start a startup, and 99% of the time I told them not to waste their time and money. They massively underestimate how hard and expensive it will be, how many skills are needed... and how much LUCK has to do with it. With my million dollar startup, it was years of research and stupidly hard work, and I had a tech an…

https://www.youtube.com/watch?v=_6pl5GG8RQ4 This one?

Re: I am done. I give up

#794
post #704

> It's also the constant stream of digital nomad influencers on Twitter who sell extremely distorted, rosy, and often times false dreams to indie entrepreneurs like myself. They make it seem like building a successful startup is easy and anyone can do it with the right mindset and a few key tips. This is just startup porn. It’s the same in any category (make money flipping houses!, crypto!, etc.) As a rule of thumb,…

I don't understand how OP could take that seriously. I can't think of anyone who has built a successful business and can trace their origins back to "I was very inspired by people on Twitter". I thought it would have been obvious that real success takes real work. "Digital influencers" are nothing more than sad people craving for attention online. Their success relies on idiots trying to mimic their "success". It's an emotional Ponzi scheme. Don't get stuck swimming in their vomit.

Re: I am done. I give up

#795
post #731
post #704

> It's also the constant stream of digital nomad influencers on Twitter who sell extremely distorted, rosy, and often times false dreams to indie entrepreneurs like myself. They make it seem like building a successful startup is easy and anyone can do it with the right mindset and a few key tips. This is just startup porn. It’s the same in any category (make money flipping houses!, crypto!, etc.) As a rule of thumb,…

This also applies to other fields. People also believe that it is simple to make money through day trading. There are many tiktok influencers and youtubers who portray themselves as millionaires, trading on a beach while digital nomading and giving nonsense advice. Yes, it is possible to make money day trading, but it takes a significant amount of learning, practice, patience, time, and discipline, and even then, the…

biaheza on YouTube makes a bunch of good videos debunking the git rich quick schemes and showing the other side of the coin. https://www.youtube.com/@biaheza

Re: I am done. I give up

#796
post #704

> It's also the constant stream of digital nomad influencers on Twitter who sell extremely distorted, rosy, and often times false dreams to indie entrepreneurs like myself. They make it seem like building a successful startup is easy and anyone can do it with the right mindset and a few key tips. This is just startup porn. It’s the same in any category (make money flipping houses!, crypto!, etc.) As a rule of thumb,…

> This is just startup porn. It’s the same in any category (make money flipping houses!, crypto!, etc.) As a rule of thumb, assume 99% of influencers are full of shit. Stay off instagram. This 100x! Many of the big influencers in these indie/startup/productivity niches seem to earn a lot of money at first sight. If you look deeper, a lot of these influencer seem to be making a lot of money from courses they are selli…

I’ll teach you to become rich by teaching other people to become rich by teaching other…

It’s charlatans all the way down.

I am a fairly successful YouTuber, and the same thing exists in my space. It pains me to see the YouTube gurus out there, fleecing people of their money by selling them dreams. Dreams they themselves have not achieved.

Beware of anyone who is selling risk-free shortcuts to hard work. They also go by a different, less appealing name: get rich quick schemes.

Re: I am done. I give up

#797

I could probably copy OPs thoughts, to describe trying to learn to play the guitar. Comparing to entrepreneurship, which feels natural and is something I am reasonably good at, I just could never manage to get past the very minimal abilty to play the guitar. For the past several years I took private lessons, watched YouTube videos, practised and still I sucked. The fact that I enjoy doing it and am ready to invest ti…

I don’t think “learning to play the guitar” and “becoming a successful entrepreneur” are equivalent. Statistically, entrepreneurship has a high failure rate because it’s incredibly demanding, and the path to success isn’t linear.

Interestingly in mind they are. I believe that becoming a successful guitar player is just as hard as becoming a successful entrepreneur, swimmer or a chess player. Does it appear to be that the number of successful people in the world in each of these 4 is roughly the same?

Re: I am done. I give up

#798

Earlier quoted context omitted.

I actually totally disagree with this. Developer tools are probably one of the easier segments to tackle because technical people 1) like trying new things and 2) often have company credit cards that don’t have to justify expenses.

Having worked in a successful developer tool (Firebase) this is utter nonsense. Developers are super cheap. People are ringing their hands over the 10 dollar per month copilot price for the world beat ai to help you code for Christ' sake.

... wringing their hands...

Re: I am done. I give up

#799
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…

Fortune plays a role, for sure. But you don't even get to petition fortune until you have some significant ability to identify and execute on a business.

Too many people focus so much on the luck they neglect the required positive talents and labors to even try.

Re: I am done. I give up

#800

Earlier quoted context omitted.

Having worked in a successful developer tool (Firebase) this is utter nonsense. Developers are super cheap. People are ringing their hands over the 10 dollar per month copilot price for the world beat ai to help you code for Christ' sake.

yeah, and i plan on cancling my co-pilot subscription after the free trial

I'm not gonna do it! Someone else, please!8-))
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