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Working for someone vs. doing your own thing

tik.dev

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Re: Working for someone vs. doing your own thing

#111

Post by manigandham »

neonate wrote: post #10
daxfohl wrote: post #4

There's a pretty high correlation between parental wealth and success as a startup founder. I assume it's because of the safety net. My friends who have been successful (and who had blue-collar upbringings like me, and all in mid-40's now) all worked full time jobs until their side projects were self-sustaining. None of them hit unicorn status, but I think all of them have lived healthy, fruitful lives. Also note by…

Given the research on adverse childhood experiences, there's likely a subtler advantage too, for founders who were raised in more stable and secure environments. Growing up under greater pressure (violence, abuse, trauma) leaves you less resilient, more risk averse, more at risk. I'm not saying wealthy families don't have this, or that poor families can't be stable and secure. But on average it probably makes a diffe…

Pressure can also make diamonds and I know a lot of people who have become incredibly driven and successful precisely because of what they went through, while others who have had it easier tended to coast through life.

Re: Working for someone vs. doing your own thing

#112

Post by aledalgrande »

daxfohl wrote: post #4

There's a pretty high correlation between parental wealth and success as a startup founder. I assume it's because of the safety net. My friends who have been successful (and who had blue-collar upbringings like me, and all in mid-40's now) all worked full time jobs until their side projects were self-sustaining. None of them hit unicorn status, but I think all of them have lived healthy, fruitful lives. Also note by…

Worth noting that working on the side writes you out of most possibilities to get investment from VCs. (not discouraging it, in fact I'm doing the same)

Re: Working for someone vs. doing your own thing

#113

Post by aledalgrande »

neonate wrote: post #10
daxfohl wrote: post #4

There's a pretty high correlation between parental wealth and success as a startup founder. I assume it's because of the safety net. My friends who have been successful (and who had blue-collar upbringings like me, and all in mid-40's now) all worked full time jobs until their side projects were self-sustaining. None of them hit unicorn status, but I think all of them have lived healthy, fruitful lives. Also note by…

Given the research on adverse childhood experiences, there's likely a subtler advantage too, for founders who were raised in more stable and secure environments. Growing up under greater pressure (violence, abuse, trauma) leaves you less resilient, more risk averse, more at risk. I'm not saying wealthy families don't have this, or that poor families can't be stable and secure. But on average it probably makes a diffe…

This is really related to the audiobook I'm currently listening to (Reboot) and how this CEO coach works through the childhood problems of different C-level executives like he had to do himself first.

Imagine not having to deal with that during entrepreneurship, without the issue wealth of contacts and money, what an advantage it is.

Sure, you can have more grit if you come from a more constrained background, but I would not know what I would choose between the two.

Re: Working for someone vs. doing your own thing

#114

Post by davidgh »

daxfohl wrote: post #14
neonate wrote: post #10

Earlier quoted context omitted.

Given the research on adverse childhood experiences, there's likely a subtler advantage too, for founders who were raised in more stable and secure environments. Growing up under greater pressure (violence, abuse, trauma) leaves you less resilient, more risk averse, more at risk. I'm not saying wealthy families don't have this, or that poor families can't be stable and secure. But on average it probably makes a diffe…

Incidentally, I just got back from the annual checkup with my 7yo, and the doctor mentioned that the strongest indicator of kids staying on a good path through adolescence is whether they regularly have dinner together as a family or not. That surprisingly exceeds any other socio-economic demographic indicator.

I’ve thought about this metric, a lot. There is no doubt that having family dinner has a lot of benefits. But I can help but ask myself - is family dinner a silver bullet, or is it that families who are holistically “doing it right” also make family dinner a priority?

Re: Working for someone vs. doing your own thing

#115

Post by mc3 »

hanniabu wrote: post #41
mc3 wrote: post #26

A day job doesn't have to be your side project's enemy. If you do web dev at work you get paid to do something that makes you efficient at web dev. Then you go home and work on your side project and you don't need to spend hours struggling with webpack or why str=((num || fallback) + '') works, so your side project is done more productively too.

Come home at ~6pm, make/have dinner ~7pm, exercise ~8pm, get home and shower ~9pm. At this point there's not much time to do work, especially if you have to go grocery shopping, do laundry, clean, have a family, or any number of other misc things like get a haircut or have clothes dry cleaned.

A side project can be 2 hours a week. You can optimise making dinner so it take less time (cook in bulk, make some meals salads). Exercise can be done at home, probably 30 minutes in the morning and evening is more than enough.

Re: Working for someone vs. doing your own thing

#116

Post by h00dui »

I graduated the same time as you & had a side project that I handled for about 2 years at bigger co before making the transition to running with it full time (now ~3 years)..

I can tell you the points that stick out the most for me:

- i've learned a HELL of a lot. I've learned so much running through the hustle life that comes with making these projects work & handling life around it etc there couldn't really be a price tag on that. At first I was more or less a hacker w some sales skills. Now I feel like I could handle ceo-coo-cmo-cto type things all because I had too. These are lessons & knowledge for the rest of your life. Even a generalist will be thrown constant challenges, I guarantee it.

- I had to make big adjustments to my social life. It's good you have some remote experience because this one was a challenge. Deciding what to go to and trying to spend time w/ community is difficult when you are trying to get it all done. Spend energy and time in places you enjoy & appreciate. When I worked at big co I would go to things all the time on weeknights and throw it on the weekend but you cant really afford all those peaks as much when youre on call as the boss. It's too taxing.

- Self Care: Could really go a long way with this one but damn.. This is the most valuable lesson I have learned. You have to watch over yourself. Like Marshawn Lynch put it this past weekend.. "watch over your mentals, your emotions, your chicken (i think he was talking about the body." Take some time off to relax when needed, keep tabs on your body and mental well being & keep close community who can help and support you when needed. It will go a long way to have someone who can help you when you just need to vent or maybe have a glass of wine ~ ~

- I'm happier - I do a little bit of work just about every day but I'm also spending a bit more time in creative areas that really make me feel good that I coulnd't seem to get time for at a big co. I make less money but I can't really seem to put a price on that "hey i'm gonna go surf cos waves are crushing right now.. will do this when I get back" option. The ability to control my time in life is one of the most valuable assets I have.

There is something about humans and how we think about what it is like on the other side. Is the grass greener? Only one way to know ~ ~ good luck xX

Re: Working for someone vs. doing your own thing

#117

Post by cortesoft »

manigandham wrote: post #111
neonate wrote: post #10

Earlier quoted context omitted.

Given the research on adverse childhood experiences, there's likely a subtler advantage too, for founders who were raised in more stable and secure environments. Growing up under greater pressure (violence, abuse, trauma) leaves you less resilient, more risk averse, more at risk. I'm not saying wealthy families don't have this, or that poor families can't be stable and secure. But on average it probably makes a diffe…

Pressure can also make diamonds and I know a lot of people who have become incredibly driven and successful precisely because of what they went through, while others who have had it easier tended to coast through life.

I don't think it is possible to separate out all the individual parts that go into making someone driven and successful, especially not with only anecdotal data

Re: Working for someone vs. doing your own thing

#118

Post by manigandham »

cortesoft wrote: post #117
manigandham wrote: post #111

Earlier quoted context omitted.

Pressure can also make diamonds and I know a lot of people who have become incredibly driven and successful precisely because of what they went through, while others who have had it easier tended to coast through life.

I don't think it is possible to separate out all the individual parts that go into making someone driven and successful, especially not with only anecdotal data

In that case then both perspectives are equally true and false.

Re: Working for someone vs. doing your own thing

#119

Post by jbay808 »

m0zg wrote: post #110
jbay808 wrote: post #78

Earlier quoted context omitted.

Given the context of this conversation... How does the math change if you strike out on your own, earning nothing for a year? I think it suggests that the healthcare barrier to entrepreneurship is much higher in the US than in Australia.

I pay $15K/yr for a family of 3 for health insurance. Where I live it costs $95K/yr post-tax for a family of 3 to maintain middle class lifestyle (verified by not working for a year), including about $3K/mo mortgage, $1k/mo real estate tax, $1K/mo groceries, and a modest vacation in the tropics in December. So while $15K is clearly expensive, it's not dominant in the grand scheme of things. Of these numbers, BTW, it'…

Try changing your viewpoint on real estate taxes. I assume you live in a city (or else you wouldn't be paying much). By allotting your parcel of land for private use, everyone else's destination will be just a little bit farther away on average when a trip from A to B takes them past your land.

(Ref: why were medieval cities so dense despite their low populations and plentiful surrounding acreage? Everything had to be walking distance, so a big manor in the middle of the city would place a major burden on everyone's commute whose destination was not that manor).

So the tax is what you pay for the burden that your exclusive hold on the land imposes on others.

Or, you could think of it as what you pay to maintain the right for it not to be paved over as a superhighway, plus what you pay for the government to agree to keep other people from trespassing.

Not the fee for living there -- the fee for not letting others live there.

Re: Working for someone vs. doing your own thing

#120

Post by tylerjwilk00 »

davidgh wrote: post #114
daxfohl wrote: post #14

Earlier quoted context omitted.

Incidentally, I just got back from the annual checkup with my 7yo, and the doctor mentioned that the strongest indicator of kids staying on a good path through adolescence is whether they regularly have dinner together as a family or not. That surprisingly exceeds any other socio-economic demographic indicator.

I’ve thought about this metric, a lot. There is no doubt that having family dinner has a lot of benefits. But I can help but ask myself - is family dinner a silver bullet, or is it that families who are holistically “doing it right” also make family dinner a priority?

I have a theory on this and can speak from my experience.

The problem I think with NOT eating together is that it sews disharmony in the machinery of the household.

If everyone DOES eat together all the work related to it happens together as somewhat of a team. You do the thing once. Everyone is in a shared state of being. Specifically being satisfied in appetite and social interaction and ready to do there own thing after.

Otherwise Billy is hungry at a different time than Sandy and Sara wasn't hungry until it was time for bed. Dishes have to be re done for each person. Billy made a better dinner for himself and left none for his sister. Someone ate in the bedroom and left a glass of milk out over night and mom was angry in the morning...

I am rambling and maybe it's obvious but ultimately I don't think it's just the act of eating together I think it's the reduced friction and increased cohesion of the household that shared dinner causes.

To answer your question, Maybe family dinner forces you to be "doing it right" just by the act of having the family dinner.

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