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Age and High-Growth Entrepreneurship

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Re: Age and High-Growth Entrepreneurship

#41

Post by s2g »

drenvuk wrote: post #32
s2g wrote: post #30

What were these people doing at 25/30/35/40?

Short answer: becoming experts at their craft, building business relationships and filling their coffers. Trying to start a successful business is much easier when you know how to get stuff done, have access to people who can get stuff done in areas you can't, and have enough money to buy time, help and resources to get stuff done. Young people typically are lacking in one or more of those areas but sometimes it work…

Hm, I’m failing at all 3 of those things.

Oh well. Already kind of knew I’m a failure.

Re: Age and High-Growth Entrepreneurship

#42

Post by gitgud »

leonroy wrote: post #10

One thing to note is that 'young college drop out makes billions' is a more compelling story than 'middle aged, well educated person with good savings makes billions'. The former sells more clicks and hence advertising dollars - it conjures the notion that anyone can do it. The latter suggests at least a decade of work experience, probably an education and some money. It's clear which story is going to end up trendin…

'young college drop out makes billions'

*Translates to: "someone made a lot of money + no effort required!"

Re: Age and High-Growth Entrepreneurship

#43

Post by sanderjd »

jknoepfler wrote: post #33
sleet wrote: post #26

Earlier quoted context omitted.

I agree but there's probably a limit on that sentiment. If you start a family you are likely to become more risk adverse, this would increase again as you approach retirement.

I can certainly concede that achieving "ramen profitability" while living off savings is substantially less exciting while trying to pay down a mortgage and save up for one's childrens' college tuition.

> while trying to pay down a mortgage

I don't really get this. I just recently bought a house. Paying down my mortgage is just a bit more expensive than renting my apartment was. Leases are a year long, I think I could sell my house within that period of time, and we wouldn't need to ask our landlord's permission. Why is a mortgage strictly worse for living off of savings?

Re: Age and High-Growth Entrepreneurship

#44

Post by ojbyrne »

sleet wrote: post #26
jknoepfler wrote: post #24

I honestly can't understand why this would shock anyone with experience in engineering. As a senior developer, I'm vastly more able to realize ideas than I was even three years ago. I also know vastly more. I'm able to understand cutting-edge systems and language research that I couldn't before. I'm able to design systems quickly and more reliably. I'm able to separate good ideas from bad ideas more reliably. I'm bet…

I agree but there's probably a limit on that sentiment. If you start a family you are likely to become more risk adverse, this would increase again as you approach retirement.

Not everybody starts a family. In fact, in terms of the “traditional family,” it’s not even a majority anymore.

http://www.pewsocialtrends.org/2015/12/17/1-the-american-fam...

Re: Age and High-Growth Entrepreneurship

#45

Post by tytytytytytytyt »

sanderjd wrote: post #43
jknoepfler wrote: post #33

Earlier quoted context omitted.

I can certainly concede that achieving "ramen profitability" while living off savings is substantially less exciting while trying to pay down a mortgage and save up for one's childrens' college tuition.

> while trying to pay down a mortgage I don't really get this. I just recently bought a house. Paying down my mortgage is just a bit more expensive than renting my apartment was. Leases are a year long, I think I could sell my house within that period of time, and we wouldn't need to ask our landlord's permission. Why is a mortgage strictly worse for living off of savings?

What do you do if the neighborhood or market changes and you really can't sell your house after a year?

> Paying down my mortgage is just a bit more expensive than renting my apartment was.

That might depend on where you are and other factors.

> Why is a mortgage strictly worse for living off of savings?

Maybe it's not and people are just hedging their bets?

Re: Age and High-Growth Entrepreneurship

#46

Post by kozikow »

I would like to see the data broken down by startup profile. I suspect that the ideal age differs between B2B and B2C startups.

B2C have smaller chance of success, but the success is bigger. Ideal B2C founder is young. Most of enormous tech successes (e.g. Facebook, Google) are B2C companies founded by founders before 30.

B2B have higher chance of success, but the success is smaller. Ideal B2B founder is middle-aged. There are more succesfull B2B startups than B2C starups, what increases the total mean.

Re: Age and High-Growth Entrepreneurship

#47

Post by ghufran_syed »

jknoepfler wrote: post #33
sleet wrote: post #26

Earlier quoted context omitted.

I agree but there's probably a limit on that sentiment. If you start a family you are likely to become more risk adverse, this would increase again as you approach retirement.

I can certainly concede that achieving "ramen profitability" while living off savings is substantially less exciting while trying to pay down a mortgage and save up for one's childrens' college tuition.

Any reason why the kids can’t pay for their own tuition? Isn’t that what government student loans are for?

Re: Age and High-Growth Entrepreneurship

#48

Post by Swizec »

sanderjd wrote: post #43
jknoepfler wrote: post #33

Earlier quoted context omitted.

I can certainly concede that achieving "ramen profitability" while living off savings is substantially less exciting while trying to pay down a mortgage and save up for one's childrens' college tuition.

> while trying to pay down a mortgage I don't really get this. I just recently bought a house. Paying down my mortgage is just a bit more expensive than renting my apartment was. Leases are a year long, I think I could sell my house within that period of time, and we wouldn't need to ask our landlord's permission. Why is a mortgage strictly worse for living off of savings?

> Why is a mortgage strictly worse for living off of savings?

It’s not strictly worse but I assume it feels like a bigger commitment with more disastrous consequences should anything go wrong?

Foreclose on your house, your biggest asset is gone. That thing you worked for for so long.

Get kicked out of rented place. Eh, wasn’t yours anyway. Find smaller one or in a worse location, which you can afford.

Either way in my case buying is strictly worse because I can’t afford the down payment so there’s really just one option. Well, one comfortable option. I could always go homeless I guess. Would save me a lot per month ...

Re: Age and High-Growth Entrepreneurship

#49

Post by s2g »

dkural wrote: post #39
Russell91 wrote: post #6

4 of 5 of the biggest tech company founders were in their early 20s. So the biggest ideas clearly slanted towards young visionary founders, but the statistics do skew back towards older founders for all but the largest companies.

Apple's true success came with Second Steve i.e. mature Steve, not first Steve. Amazon, Oracle, Intel founders weren't in their 20s. Microsoft, Google, and Facebook indeed were started by young founders. Twenty years later Google might be the only meaningful one standing. Time will tell.

> Twenty years later Google might be the only meaningful one standing. Time will tell.

It's been more than 20 years and Microsoft is still right there.

Re: Age and High-Growth Entrepreneurship

#50

Post by drawkbox »

sleet wrote: post #26
jknoepfler wrote: post #24

I honestly can't understand why this would shock anyone with experience in engineering. As a senior developer, I'm vastly more able to realize ideas than I was even three years ago. I also know vastly more. I'm able to understand cutting-edge systems and language research that I couldn't before. I'm able to design systems quickly and more reliably. I'm able to separate good ideas from bad ideas more reliably. I'm bet…

I agree but there's probably a limit on that sentiment. If you start a family you are likely to become more risk adverse, this would increase again as you approach retirement.

On the flipside, kids can add immense motivation and drive. Also you can dictate your schedule more to spend more time with kids/family if you work from home more. I went independent/entrepreneur full on when my son was starting high school, I wish I had done it earlier and done more projects/products for myself earlier.
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