11–20 of 166 posts
It's easy to forget that "taking money to grow fast" often means "Try this really risky strategy in a winner take all market where you will most likely die."
This is the point that has really started to become clear to me in recent years, and not just for startups but for artists, authors, athletes, and all the other dream jobs we idolize: so many of these people are either (1) not really making that much money or (2) already had a trust-fund or come from a wealthy background so they can spend all of their time writing, painting, or engineering. Most authors make below the poverty line [1], and Facebook's success was the outlier, not the norm.
I did the start-up thing in my 20s for about 3-4 years (in the 1990s). My income was about the same as my salary would later be when I went to work for another company, but my stress-levels dropped significantly when I started working for someone else. The constant uncertainty was gone, I was watching my savings grow instead of decline, and I do regret not going for that stability sooner.
I see a similarity between tech-kids in their 20s chasing start-up dreams and the poor kids from my old neighborhood chasing hoop-dreams. The tech-kids have better options to fall back on, but the chances of becoming that rockstar million/billionaire CEO/professional athlete are about the same.
[1] http://www.theguardian.com/books/2015/sep/15/income-for-us-a...
Glad to see this piece posted on HN. I realize now when I first came to HN I felt somewhat 'ashamed' that I was not working towards being the 'next unicorn'. It took some time for me to realize that there are many more avenues that suit me and ultimately will be more fulfilling.
HN was created as an interactive advertisement for YC (and startups in general), and it's important to understand that before getting sucked in.
> 1. It’s almost never rags to riches This is the point that has really started to become clear to me in recent years, and not just for startups but for artists, authors, athletes, and all the other dream jobs we idolize: so many of these people are either (1) not really making that much money or (2) already had a trust-fund or come from a wealthy background so they can spend all of their time writing, painting, or e…
> 1. It’s almost never rags to riches This is the point that has really started to become clear to me in recent years, and not just for startups but for artists, authors, athletes, and all the other dream jobs we idolize: so many of these people are either (1) not really making that much money or (2) already had a trust-fund or come from a wealthy background so they can spend all of their time writing, painting, or e…
The odds of a smart middle class entrepreneur making a successful business are actually way better than making it to the NBA or NFL. To say these are equal odds is misleading.
In France, the fantasy is civil servant porn... At least this promotes entrepeneurship.
Can confirm. Tried startup. Worked hard. Ran out of money. Ended up homeless. It sucked.
take it easy, my friend. startup life isn't for everyone. do something that makes you happy.
I'd posit that running out of money and being homeless is not just not for everyone, it's not for anyone.
> 1. It’s almost never rags to riches This is the point that has really started to become clear to me in recent years, and not just for startups but for artists, authors, athletes, and all the other dream jobs we idolize: so many of these people are either (1) not really making that much money or (2) already had a trust-fund or come from a wealthy background so they can spend all of their time writing, painting, or e…
> 1. It’s almost never rags to riches This is the point that has really started to become clear to me in recent years, and not just for startups but for artists, authors, athletes, and all the other dream jobs we idolize: so many of these people are either (1) not really making that much money or (2) already had a trust-fund or come from a wealthy background so they can spend all of their time writing, painting, or e…
Being from a wealthy background also benefits the startup because you or your family probably "know people" who can help.