Why Should I Start a Startup? • Hacker News Board

Re: Why Should I Start a Startup?

#91

Post by imhoguy » Wed, Jul 19, 2017, 9:45 PM UTC

aaron-lebo wrote: post #86

taurath wrote: post #77

I do find it rather hilarious that he dropped interest in yale for being too academic, but during my (failed) interview as a web developer at Twitch about 5 years ago, the questioning had to do with only academic subjects like graph traversal algorithms - they proudly stated when I applied that 90% of their employees come from an Ivy league background. Here's who I think should start a startup: - People with the back…

You don't need money to start a startup. It is only startup culture which emphasizes it. When you've got nothing, you don't have anything to risk, so those people without resources but with drive are as good a place as any. My friends and I are working on something in the garage. It might not turn into anything, but when you only make 40k a year, it doesn't take much to be really successful. The thought of making an…

You don't spend money but you spend your other precious resource which is your private time. With money you can leverage a project by buying somebody else time (employee, partner). Such may be not 1:1 comparison of your own dedication but with fair equity and good match you may get similar drive.

Re: Why Should I Start a Startup?

#92

Post by jasode » Wed, Jul 19, 2017, 9:55 PM UTC

graveThrow56 wrote: post #88

CryptoFascist wrote: post #64

This is nothing but a pitch by YCombinator to get rubes to work for pitiful amounts of money and likely fail, so that YCombinator can capture the vast profits from the few that succeed. It's YCombinator's business model.

I thought the same. If if was genuine, he would suggest another option: starting a small/medium business in tech. You know, a business that helps you escape corporate life, and make money for yourself in the process. Only problem: there is no way for YC to make money off of it... So let's ignore S&M businesses in tech and as a valid entrepreneurship route. Let's pretend that the only options are a startup or corporat…

>if was genuine, he would suggest another option: starting a small/medium business in tech.

It's an essay relating his personal experience. (Notice that Seibel wrote: "Here is how I learned this about myself. [... rest of text ...]"

He didn't cofound a small-medium-lifestyle business so he wrote what he was familiar with: justin.tv/twitch.

Lastly, I didn't see any advice that didn't also apply to small-medium businesses. (See the 3 questions to ask oneself at at the end.) He's not advising anyone to start another billion dollar Youtube clone or a company that requires YC funding. One can take his questionnaire and apply it to starting a small bootstrapped 5-person consulting firm if that's what your idea of a "startup" means to you.

Re: Why Should I Start a Startup?

#93

Post by crb002 » Wed, Jul 19, 2017, 9:56 PM UTC

Garage. It worked for Apple, Google, and HP.

Re: Why Should I Start a Startup?

#94

Post by pwh » Wed, Jul 19, 2017, 9:56 PM UTC

mwseibel wrote: post #47

pwh wrote: post #15

Earlier quoted context omitted.

Great post. Thanks. As CEO of the company how did you deal with the extreme stress during the most difficult days of Justin.TV/Twitch while at the same time keeping the team motivated?

Honestly I dont have a good answer - I don't think I dealt with it in the most healthy manner - although my girlfriend (now wife) helped a lot!

Thanks for being honest about it. I think founders are masochists. We have to put up with tons of struggles, uncertainties, rejections, setbacks, hypocrisies, backstabbing, betrayals, slanders, deceptions, agonies, burn-out, blood, sweat, and tears while trying to keep positive tone on the outside to keep the team motivated and stick to the vision and mission and not lose investor's confidence. Just thought I asked if you can share what worked in your experience. Thanks.

Re: Why Should I Start a Startup?

#95

Post by scottLobster » Wed, Jul 19, 2017, 9:58 PM UTC

jaypaulynice wrote: post #76

I like this post. I wish I really started a startup in college or right after. A regular corporate job turns you into a zombie and you become out of touch with reality especially if you're well paid and well fed. A lot of people are unprepared for the hard life. If anything, you'll learn more about life in 6 months than you will in decades. It's not just the technical stuff. You'll learn who your real friends are. Be…

As a counterpoint: My spouse's ongoing education is currently dependent on my regular income. Once she graduates it'll effectively double our collective income and hopefully give her her first good career. I'm not sure how I could sell gambling all of that on a 90% chance of failure even if I wanted to. Sounds like the act of a gambling addict.

Also, if you need to gamble your family's livelihood to find out if your spouse really loves you or not, why are you married? Similar sentiment for your friends. Being able to sympathize with the homeless sounds like a horrible return for sacrificing your livelihood. Dealing with backstabbing co-founders doesn't sound all that educational, just miserable. Fake people are a thing in all walks of life.

I don't come from the rosiest background in the world, I've had enough severe instability and drama forced upon me in the past to know there's nothing romantic about it. It should be avoided unless there's a tangible payoff, and certainly greater than a 10% chance of success.

My regular corporate job is currently giving me a stable platform upon which I can save, build up my household and consider launching a business on my own terms. It's also giving me valuable professional experience as I see how a large company ships product. I'm so glad I didn't go the startup route straight out of college, I've learned so much about business on the job that my engineering degree never remotely touched. It's hardly my dream job but I don't dread my work, nor do I feel like a zombie.

In 10 years I'll likely have enough saved up to seriously consider my own business, and enough contacts/professional clout to go back to regular work if it fails. I'll also have 10 more years of business experience to draw on, likely from at least 2 more companies. Why do a startup now, or God forbid right when I graduated, when I have/had the fewest resources and the fewest advantages?

Re: Why Should I Start a Startup?

#96

Post by tim333 » Wed, Jul 19, 2017, 9:58 PM UTC

CryptoFascist wrote: post #64

This is nothing but a pitch by YCombinator to get rubes to work for pitiful amounts of money and likely fail, so that YCombinator can capture the vast profits from the few that succeed. It's YCombinator's business model.

> get rubes to work for pitiful amounts of money

The typical founders are grads of top universities and on average end up worth several million from the YC thing.

(2015 stats - value of YC startups, 65bn, number 940 so valuation / startup $69m. say 1/3 stays with the founders and there are 2 on average that's $11m/founder)

Re: Why Should I Start a Startup?

#97

Post by throw4141 » Wed, Jul 19, 2017, 9:59 PM UTC

I've tried to start a startup, 2 times. I failed both times.

And now I have 0 money left, the family that cannot help me, I don't have a job and can't find one and thankfully I have some friends that are giving me a place to sleep.

Should I start another startup? I wish. Will I do it? I don't know how.

I wish I had a magic idea and some people to invest in it, but not living in the Valley and not having a clue on how to find great ideas I'm kinda stuck.

I'm already looking for a job, the problem is that I have the fear that the more I wait for the next startup and the more it'll be harder to build a product from scratch because the expectation from all markets will be higher.

Ideas?

Re: Why Should I Start a Startup?

#98

Post by vabmit » Wed, Jul 19, 2017, 9:59 PM UTC

taurath wrote: post #77

I do find it rather hilarious that he dropped interest in yale for being too academic, but during my (failed) interview as a web developer at Twitch about 5 years ago, the questioning had to do with only academic subjects like graph traversal algorithms - they proudly stated when I applied that 90% of their employees come from an Ivy league background. Here's who I think should start a startup: - People with the back…

I think there's some truth to the family support part of this. I was just racking my brain trying to think of any founder I knew (and I know a ton of them) that was in the position of "success or potentially homeless". But, I can't. I think there's some variable confounding going on when YC and others talk about people in their early 20's being better positioned to do startups because they're less risk averse due to youth. I think they're less risk averse because it's not such a big deal for them to move back in with their parents if they fail. And, their parents are usually still working and therefor able to handle the strain of that.

Nearly every successful founder I know of had either very wealthy parents, very supportive family and friends, or both.

I don't see any shame in admitting that it's not about some romanticized risk taker ideal alpha geek, but rather about upper class kids lucky enough to have a bunch of built in risk arbitrage supports that they lucked out on being born with.

Re: Why Should I Start a Startup?

#99

Post by nnd » Wed, Jul 19, 2017, 10:00 PM UTC

> Do I seek the hard challenges that most people shy away from?

Arguably, you can find much harder challenges working for a bigco, at least when it comes to engineering challenges.

Also, surprisingly one of the biggest factors involved when it comes to starting a startup is not mentioned: idea itself.

Re: Why Should I Start a Startup?

#100

Post by spitfire » Wed, Jul 19, 2017, 10:01 PM UTC

technotony wrote: post #78

CryptoFascist wrote: post #64

This is nothing but a pitch by YCombinator to get rubes to work for pitiful amounts of money and likely fail, so that YCombinator can capture the vast profits from the few that succeed. It's YCombinator's business model.

I'm not sure you actually read this because it's pretty obvious that it actually tells many people not to do a startup and makes it clear that 'getting rich' or 'succeeding' isn't a very good reason for doing one. It gives three pretty clear criteria for starting a startup that most people won't meet- those that do might be worth considering it.

That's the sales pitch. "It's too hard, you couldn't do it."

Same sales pitch as gym workout programs. "Are you man enough?" and many others. Create an artificial scarcity (a barrier to entry), weed out those who will ask questions. Ideally they're looking for people who seek outside validation - the sort of people who often become doctors or lawyers.