Evernote CEO to entrepreneurs: "don't do it" • Hacker News Board

Re: Evernote CEO to entrepreneurs: "don't do it"

#71

Post by eli_gottlieb » Fri, Apr 27, 2012, 10:22 PM UTC

philaquilina wrote: post #44

reason wrote: post #33

People in this space live in a thickly-lined bubble if they think something like Evernote is changing the world. Wisdom is not suddenly bestowed upon you because your note-taking service was recently valued at $1+ billion. I have always had a really hard time heeding to the advice of rich people who tell you what all the right and wrong reasons to become an entrepreneur are, especially when they start preaching about…

I think you are thinking of "change the world" in the "topple bad governments, empower the meek, help make this world a utopia" type of way. Evernote is changing the world. If you make 30 million people's lives just a tad bit easier, then yes, you've changed the world. If you've caused other companies to take note and copy your business strategy/idea and THEY make people's lives easier, then yes you've changed the wo…

If you're in it to be rich, then you're in it for the wrong reasons.

Bullshit! Altruism doesn't involve calculating how much equity to give employees while unsteadily watching your potential valuation numbers.

If you're in it create an amazing product and be impactful on a stranger's life, then you're in it for the right reasons.

That's called open-source, and you don't charge for it.

Re: Evernote CEO to entrepreneurs: "don't do it"

#72

Post by famousactress » Fri, Apr 27, 2012, 10:23 PM UTC

IMHO the article misses the best part of the talk (in the middle somewhere). Ironically, given the "don't do it" bit.. Libin makes the point that now's a better time than ever to be an entrepreneur, and among the usual OSS/StuffsCheapNow points, he concludes that today the best product is more likely to 'win' than it has been in the past... Especially in the consumer space. Further pointing out that this essentially creates a meritocracy for people who are good at making things (even if they suck at sales/marketing).

The talk is definitely better than the flamebait title.

Re: Evernote CEO to entrepreneurs: "don't do it"

#73

Post by lusr » Fri, Apr 27, 2012, 10:24 PM UTC

jfernandez wrote: post #5

This article's title is misleading, it should read more like "...Don't do it for the wrong reasons" as he explains in the actual post. Beyond these reasons there are tons of people who want to make a company because: - They will offer something novel or fresh - They have the passion to change an industry that has otherwise been stagnant - They want to offer choice or competition for a product that has been relatively…

It's more than that. He's conflating personal motivation with business model validation. Yes your business model should be validated, but what's wrong with pursuing money?

My goal has long been to work on my interests without having to worry about money. But to do so requires financial independence. That's reality. So now I'm pursuing money and looking at ways of generating income without selling my time.

Is there any real evidence to show that people who pursue money don't end up successful? I doubt it.

Re: Evernote CEO to entrepreneurs: "don't do it"

#74

Post by eli_gottlieb » Fri, Apr 27, 2012, 10:27 PM UTC

jpdoctor wrote: post #14

larrys wrote: post #11

"A lot of people think that they want to be an entrepreneur because it’s a good way to make money. It just isn’t, that’s just wrong. Depending on how you count, 95% to 99% of companies fail." Excuse me. It is a way to make money. That figure assumes the definition of entrepreneur is only startups as discussed in places like HN, Techcrunch etc. Not only is the figure of 95% or 99% wrong with respect to "entrepreneurs"…

> Not only is the figure of 95% or 99% wrong with respect to "entrepreneurs" I believe he's quoting numbers from Shikhar Ghosh at HBS. Here's one article that google brought up with a little more detail about how "failure" is defined: The statistics are disheartening no matter how an entrepreneur defines failure. If failure means liquidating all assets, with investors losing most or all the money they put into the co…

So the actual failure rate is 30-40%, but start-ups are subject to the Planning Fallacy.

Re: Evernote CEO to entrepreneurs: "don't do it"

#75

Post by Mz » Fri, Apr 27, 2012, 10:28 PM UTC

lusr wrote: post #73

jfernandez wrote: post #5

This article's title is misleading, it should read more like "...Don't do it for the wrong reasons" as he explains in the actual post. Beyond these reasons there are tons of people who want to make a company because: - They will offer something novel or fresh - They have the passion to change an industry that has otherwise been stagnant - They want to offer choice or competition for a product that has been relatively…

It's more than that. He's conflating personal motivation with business model validation. Yes your business model should be validated, but what's wrong with pursuing money? My goal has long been to work on my interests without having to worry about money. But to do so requires financial independence. That's reality. So now I'm pursuing money and looking at ways of generating income without selling my time. Is there an…

Is there any real evidence to show that people who pursue money don't end up successful?

I once read that the 2% of people in some defined group who set financial goals outperformed the other 98% combined.

Re: Evernote CEO to entrepreneurs: "don't do it"

#76

Post by drinkwhat » Fri, Apr 27, 2012, 10:29 PM UTC

I think he is just scared of others that might come up something thats better than Evernote.

Re: Evernote CEO to entrepreneurs: "don't do it"

#77

Post by eli_gottlieb » Fri, Apr 27, 2012, 10:30 PM UTC

muhfuhkuh wrote: post #36

Or, if you really want to change the world, alleviate the spectre of massive world hunger by coming up with radical agricultural techniques and selective breeding for drought resistance, then teach that technique to everyone you know for free[1]. Or, come up with a novel vaccine for one of our most vexing diseases of our time, then give away the formulation for free[2]. That's how you change the world. Cue the capita…

Quite fully agreed. Capitalism repeats itself first as tragedy, then as Silicon Valley farce.

Re: Evernote CEO to entrepreneurs: "don't do it"

#78

Post by tgrass » Fri, Apr 27, 2012, 10:34 PM UTC

I don't know anyone who makes more than $500K a year. Everyone I know who makes more than $60K a year running their own business, says their only regret is not starting earlier.

Re: Evernote CEO to entrepreneurs: "don't do it"

#79

Post by inafield » Fri, Apr 27, 2012, 10:34 PM UTC

kreutz wrote: post #52

What else are we suppose to do?

We're supposed to be his employees instead of challenging him in a crowded market. This way he makes more money from ideas we might have put forward and each one of us is one less competitor for him.

Really though, if an entrepreneur is going to be dissuaded by this speech, they probably shouldn't be trying in the first place.

Re: Evernote CEO to entrepreneurs: "don't do it"

#80

Post by niels_olson » Fri, Apr 27, 2012, 10:42 PM UTC

> Power ... join the military

Actually, I'm a mid grade officer in the Navy; I was recently told I was "part of the seniority plan" in my unit. I knew where Libin was going with that as soon as I read the subtitle. I answer to everyone!