Hey Teralaser, how long do you realistically think it would take someone to determine if their business would be a success? 2 years? 3 years? 10 years? Also, if someone takes a multi-year break from school, how easy is it for them to just pick back up in a Ph.D. program? Is such a pause a deal breaker for most universities when considering an application to their programs?
What should I choose, PhD or startup?
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Re: What should I choose, PhD or startup?
#32"... Do you like/agree with my answer ? ..."
Over analysis?
"... My student is a student of Chemical Engineering. Right now he has the opportunity of developing his own chemical-based business with a good economical prospects. ..."
If you are making "stuff", unless you are selling the process, the derivative of making "stuff" you will be bound to the old laws of creating a business. In some ways it reminds me more of a hardware Startup. The rules of Software startup rules don't apply. You (might) need offices, lab space or time, hiring of extra expertise, equipment and the problems of marketing and sales. All this requires cash and a degree of risk higher than a software Startup.
One question. Does has this new "stuff" got existing or potential customers? Is your "stuff" applicable to a large market commodity or a high cost niche market?
Re: What should I choose, PhD or startup?
#33Earlier quoted context omitted.
Funny, I was about to say that if he can't figure it out for himself, he probably shouldn't do PhD.
I thought the same thing when I first saw this comment, but I realized it isn't right. A PhD gives you the opportunity to get both a broad overview of a field, as well as delving deeply into some subarea. It will greatly enhance your technical skills and ability to think. Even if you don't plan to have a research career, learning how to do research will be very helpful. A PhD is a very worthwhile if you don't have an…
The motivation bit is the most important part. PhD's can be very grinding and most PhD's I know seriously considered throwing in the towel at least once during it. If you don't really really want it, chances are you'll never complete it.
Re: What should I choose, PhD or startup?
#34If this student can't figure this out for himself, then he should absolutely not start a business.
Funny, I was about to say that if he can't figure it out for himself, he probably shouldn't do PhD.
I disagree with the notion that asking for advice somehow shows he "doesn't have what it takes" to do either. If he's looking for someone else to tell him what to do then that's a problem, but if he's seeking information and perspective from people who have experienced what he is embarking on, that's common sense.
Re: What should I choose, PhD or startup?
#35If you don't like to deal with the public, don't have business experience, and would rather focus on your discipline than on people/money/marketing problems, a PhD can be a cozy way to go ... if you pick the right one, and are crazy talented or know the right people. Some PhD's spend a few years driving taxi.
Re: What should I choose, PhD or startup?
#36I dropped out of my PhD at MIT Chem Eng this year to run my startup full-time. Never looked back. I am also international, like the person in the story seems to be.
He just needs to try each one separately and see which one gets him more excited to go to work. It really is that simple.
Re: What should I choose, PhD or startup?
#37Earlier quoted context omitted.
Not sure I agree with that; I would suggest that the opposite is true. Top-tier PhD programs almost never allow students to defer an acceptance offer, so the person in question would need to re-apply. Being accepted becomes substantially more difficult the longer you've been working in industry, particularly if you haven't been working in something directly related to the PhD's field of study (like a startup). Startu…
Top-tier PhD programs almost never allow students to defer an acceptance offer At least in CS, all the top schools I'm aware of usually allow you to defer an acceptance offer (IIRC 6 months for MIT, 1 year for Stanford/Berkeley/etc.).
Okay, maybe it varies by subject. I know that for a few domains that I've explored (econ and finance) no schools allow deferrals.
Re: What should I choose, PhD or startup?
#38Many students also like to ask "which JC should I go? should I pursue the college that is top in sports since i love sports or should i pursue the college that tops in academic?"
The root of these kind of questions are really simple. Get the student to search his soul on what he wants really. When a greed takes over, then everything becomes complex since everything looks so appealing.
Focus on one thing and work on one thing whole heartedly, whether business or PhD. When you are focus on one thing, pursue it with all your heart and don't look back, don't think of "what if i fail? what if i choose wrongly?". Once you have decided, "cross the river", "burn all boats, dont look back" and move forward. Its really that simple in life.
If you really should "fail", its not bad too because you would have learn valuable and important lessons. Its really the journey that matters and not so much on the end product. That way, you would not have lived your life in vain. Phd or business, we cant bring fame or fortune to our graves, so do they really matter?
Re: What should I choose, PhD or startup?
#39No mention of intellectual property rights? I was under the impression that if you worked on something original using university facilities, you have effectively given up your rights to anything that you come up with using those facilities. The university owns it all.
This used to be the case, but universities are getting better at this. Usually it's pretty easy to spin off a company, where the university retains some ownership. It's a win-win situation, really, a university is a great place to foster ideas, but not very good for bringing a product to market.