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I am done. I give up

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411–420 of 1001 posts

Re: I am done. I give up

#411
I find it interesting that you have called out "digital nomad influencers". You make it sound like at some point you believed them, which I would say is an alarm bell for a potential business leader, except you have then run some businesses.

Running a business is looking at what is happening and amplifying what works and fixing what doesn't. There is also an enormous amount of luck involved.

I suspect if you look at all companies, most people running them will have most of the skills needed, most will have had some kind of luck/lead/timing that made things work and all of them will think they know how to do business because of survivorship bias.

Even the most famous business leaders have had more companies fail than succeed but it is unbelieveably tiring unless you enjoy the journey, in which case, learn to stress less and keep working away.

Re: I am done. I give up

#412

Earlier quoted context omitted.

Their tax rates are only a few percentage points different from ours. I think the difference is that we funnel 20% of it to the military (2% for Norway) and their tax code probably has fewer loopholes for the rich to exploit.

Their total tax burdens are much higher than US citizens' tax burdens unless you're making 7 figures of W-2 income. The top marginal tax rate kicks in an order of magnitude lower in those countries, and hits most of the middle class. In the US, it hits very few people. Also, the military is 20% of the discretionary budget, but 10% or less of the total budget.

You haven’t accounted for health insurance, college education, and possibly retirement.

Once you add those in, the Nordics still pay a bit more, but not by the margin you might expect.

Re: I am done. I give up

#413

Earlier quoted context omitted.

Their tax rates are only a few percentage points different from ours. I think the difference is that we funnel 20% of it to the military (2% for Norway) and their tax code probably has fewer loopholes for the rich to exploit.

Their total tax burdens are much higher than US citizens' tax burdens unless you're making 7 figures of W-2 income. The top marginal tax rate kicks in an order of magnitude lower in those countries, and hits most of the middle class. In the US, it hits very few people. Also, the military is 20% of the discretionary budget, but 10% or less of the total budget.

When I at one point considered moving to the US, I did the numbers for UK and Norway, because I'm from Norway and live in the UK, and while Norway certainly came out higher in terms of tax than some US states, comparing with places I might be prepared to consider, like California, the difference was small enough it'd be more than eaten up by health insurance before considering the other costs of a reduced welfare system (e.g. needing a far bigger cushion in case of unemployment, far higher childcare costs etc.)

Your mileage will of course vary a lot depending on specifics, and especially which US states you compare with.

Re: I am done. I give up

#414

Hate to say it, but you sound like you're victimizing yourself. You're not a victim. And victimhood mentality likely played a large role in your failure. Try to change your mindset and try again when you feel you're ready.

I don't thinks this reply is helpful. Its basically saying "its your fault you failed, moreover you are going to fail again because of your attitude"

turning this question around to you:

have you ever managed to "change your mindset"?

assuming you have changed your mindset, did it materially change your circumstances?

Because if you're still in a hole, "being mindful" isn't going to affect that.

Re: I am done. I give up

#415
post #320

Succeeding in the startup world reminds me of the funfair analogy: The rich kid will have a go at throwing the dart at the balloon, and miss. But, because they're a rich kid, they just take out their wallet (or parents' wallet), get more stubs, and try again (and again) until they hit the balloon. The middle class kid will have a go at throwing the dart at the balloon, and also miss. Then they will walk away, saying…

I don't think this way of looking at it is helpful either.

Sometimes the rich kid was abused by his dad and it ate him up inside and he turned to drugs and died of an overdose at 25 years old.

Sometimes the middle class kid came from a father that survived as a child in WW2 with undiagnosed metal scars to prove it.

Sometimes the poor kid learns plumbing from his dad then starts and scales a business up to millions in sales.

We don't live in North Korea. A great deal of your future in a country in the west is based on how hard you try and, yes, some intangibles that are beyond your control, but it's no where close to "the rich kid kept buying darts until he won while one in fifty middle class kids actually made it."

Furthermore, entrepreneurship is just one of many hard games. And yes, the rich have an advantage at this specific game and less so because of their access to money and more so their access to their parents that are often successful at navigating society for capital formation. But the rewards of being a successful founder are pretty limited. Slightly better tasting wine. Larger hotel rooms. Softer sheets.

When you actually add up all the real benefits of winning at forming a company, you'll find that they pale in comparison to other games, many of which are easier, but some of which are harder or MUCH harder.

People today barely remember who Rockefeller is. He's the name a fancy building near the middle of the city to most people. That will be Bill Gates. That will be Steve Jobs. That will be so many of our supposed HN heros. If humanity makes it a couple hundred years, more people will remember Putin and Biden. Their games are harder. They ultimately matter more. And if legacy is more important than threadcounts then their rewards are much larger.

I think it is more important to find out what is true and what is false and to embrace the truth and help others than it is to win at business. And if it matters at all to you, I've founded a couple of failed companies and one that was acquired and I still think tech entrepreneurship can be a good thing, but only to a point.

Re: I am done. I give up

#416
post #320

Succeeding in the startup world reminds me of the funfair analogy: The rich kid will have a go at throwing the dart at the balloon, and miss. But, because they're a rich kid, they just take out their wallet (or parents' wallet), get more stubs, and try again (and again) until they hit the balloon. The middle class kid will have a go at throwing the dart at the balloon, and also miss. Then they will walk away, saying…

> The rich kid will have a go at throwing the dart at the balloon, and miss. But, because they're a rich kid, they just take out their wallet (or parents' wallet), get more stubs, and try again (and again) until they hit the balloon

I get contacted for a lot of “rich kid” startups for consulting work. This notion that rich kids are succeeding at startups due to their perseverance and fallback options is almost the opposite of what I see in the real world. A lot of the “rich kid” startup founders I’ve followed or tried to work with have been only half committed to actual working on their startups. They often want to be the idea guy or the money/fundraiser person or the iconic CEO role holder, but when it comes time to do the work they’re not interested in grinding.

Those fallback options also become a liability when things get difficult or stop being fun. A lot of them dip out at the first signs of struggle and fall back to easy jobs in their parents’ network.

In theory they should have more runway to persevere at a startup. In practice, they often have too many easy options to fall back on to actually persevere at the execution required.

Re: I am done. I give up

#417

Earlier quoted context omitted.

> A big fact of the entrepreneur world is that it is hugely based on luck. And for anything with bigger ambitions than a lifestyle business, don’t forget connections. Most founders are still men from Ivies or Stanford. Just look at the “PayPal mafia” to see how inbred tech investing can be. Not that most entrepreneurs need or should expect VC funding, but this is HN, run by a VC. You can totally run a business and be…

I wasted a decade of my life on the notion that you can bootstrap a startup. It is hard mode and the folks that are so dismissive of VC funding should have that disclaimer.

I like that you are not dismissing bootstrapping, but just wishing that people dismissive of VM should have that disclaimer.

I just wanted to provide a counter-example: Bootstrapping worked for me, but I was ready to live happily on 1800€ per month (France, where it’s reasonable), and remain small. It also required being able to part from anyone who would think 500€ a day for a consultant is reasonable, or that 20€/u/m is ok for a SAAS app.

Re: I am done. I give up

#418
post #371

Earlier quoted context omitted.

I looked up taxation in Norway, it looks very similar to ours. Personal marginal tax rates cap at 48% and corporate taxes are 23%. What am I missing? https://en.m.wikipedia.org/wiki/Taxation_in_Norway

It has nothing to do with taxation - or else the Arab Gulf or Cayman Islands would be entrepreneurial hubs, not California or the Toronto area. It’s all about the price of quality labour. It’s about access to long-term risk capital (aka venture funds) + high quality labour at affordable prices. As in, entrepreneurs having cash to fund projects and being able to actually hire people that will help build them. Try hiri…

[dead]

Re: I am done. I give up

#419
Success is an addiction that many people long to suffer from. It’s just an illusion for all but a fraction of those try to roll the boulder up the hill.

Comfort is what we should all learn to settle for. It’s really not that bad.

Learn to be happy and fulfilled where you’re at. Life is short, enjoy it.

Re: I am done. I give up

#420
Hey, if its any consolation, your post made it to #1 on Hacker News for a while. I think that actually fits the definition of the word 'ironic'.

Anyway, I feel for you. Having a dream and seeing it fail hurts. It may be painful in the present, but at least you know yourself. That is something many people never learn.

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