What differentiates people who start and run startups that sell for m/b-illions?

#1

Post by jkka » Sat, Sep 16, 2023, 8:27 PM UTC

I am aware most businesses/startups either fail or sell for low millions or have a decent profit but nowhere close to hundreds of millions.

But there are a significant amount of people who have become filthy rich by selling their startups/businesses in short time periods too. And HN seems to have a few of them atleast and many people who know of such people.

So, my question is, what is so special about these people? How are they able to build and run something so complex and sell it for huge amounts? Is it IQ, hard work, connections or something else?

Re: What differentiates people who start and run startups that sell for m/b-illions?

#2

Post by cratermoon » Sat, Sep 16, 2023, 8:38 PM UTC

It's just luck. Random chance.

Re: What differentiates people who start and run startups that sell for m/b-illions?

#3

Post by ashwinnair99 » Sat, Sep 16, 2023, 8:46 PM UTC

I think its grit and self belief that I can keep going.

Re: What differentiates people who start and run startups that sell for m/b-illions?

#4

Post by benj111 » Sat, Sep 16, 2023, 8:51 PM UTC

cratermoon wrote: post #2

It's just luck. Random chance.

Luck is an element, I also think you need a certain amount of psychopathy.

You need to bs a lot of people, be single minded to the extreme.

I'm not saying it's universal, I'm always surprised how people look up to successful business people as if that success suggests they are a 'better' person.

Re: What differentiates people who start and run startups that sell for m/b-illions?

#5

Post by slater » Sat, Sep 16, 2023, 9:04 PM UTC

Tenacity.

Re: What differentiates people who start and run startups that sell for m/b-illions?

#6

Post by rhelz » Sat, Sep 16, 2023, 9:08 PM UTC

I've talked to both parties: the successful tend to give the lion's share of the credit to themselves, the unsuccessful tend to give the lion's share of the blame to circumstance.

Re: What differentiates people who start and run startups that sell for m/b-illions?

#7

Post by nullindividual » Sat, Sep 16, 2023, 9:34 PM UTC

Dishonesty, fraud, what other negative human traits does money attract that you want to pack in?

Re: What differentiates people who start and run startups that sell for m/b-illions?

#8

Post by L1K2 » Sat, Sep 16, 2023, 9:42 PM UTC

This is simply knowledge. If you have knowledge and intuition, you can earn a lot of money.

Re: What differentiates people who start and run startups that sell for m/b-illions?

#9

Post by cratermoon » Sat, Sep 16, 2023, 11:26 PM UTC

benj111 wrote: post #4

cratermoon wrote: post #2

It's just luck. Random chance.

Luck is an element, I also think you need a certain amount of psychopathy. You need to bs a lot of people, be single minded to the extreme. I'm not saying it's universal, I'm always surprised how people look up to successful business people as if that success suggests they are a 'better' person.

I am in 100% agreement with that. As a kid in school I was taught the industrialists and moguls were great men, and a few things like the occasional anti-trust (Standard) or corruption (Teapot Dome) were aberrations, regrettable excesses to be reined in.

Flash forward to my adulthood and me realizing that history as taught in US schools is a farce.

Re: What differentiates people who start and run startups that sell for m/b-illions?

#10

Post by tamimio » Sun, Sep 17, 2023, 5:16 AM UTC

It’s pure luck, don’t believe anything else, not intelligence, nor commitment, nor top colleges, nor “my 10 morning routine/silly quote” or even your parents’ success, sure all or any of that might contribute to a degree, but the biggest factor is luck. Look at it as a 3D fast moving randomly sinusoidal waves in XYZ space, if your wave is happen to identically match the success-wave (and what is a success-wave for you isn’t the same for another person), and you took that opportunity, then you become “filthy rich”. The only exception is probably some royal families etc., but for the people who “become” rich, it is all luck.