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Then entrepreneurship culture needs to change, a lot. A 22-year-old can subsist on Ramen while living in a car. A 45-year-old can't ask his wife and children to
by superuser2 11y ago
Then entrepreneurship culture needs to change, a lot. A 22-year-old can subsist on Ramen while living in a car. A 45-year-old can't ask his wife and children to do that.
Startups staffed/founded by middle-aged people are going to have to pay drastically better wages, and investors are going to have to be okay with that.
- datashovel 11y agoPersonally, having worked at startups my whole career, I would in a heartbeat hire a single highly qualified veteran at a market salary than 5 people fresh out of college. The trick, though, is to get a veteran who is not jaded. Someone who believes in the vision and has enough skin in the game to make them want to fight for the project.
- hugh4 11y agoA 45 year old who had been working in a professional capacity ought to have enough savings that he need not live off ramen if he chooses to make a minimal income for a few years.
- superuser2 11y agoWell, technically, but when the startup fails he may be unable to retire or send his kids to college (or both). Risk appetites change. Someone that age should have savings, but not necessarily savings they can afford to lose.
- jpindar 11y agoThe assumption that a 45 year old must have a wife and children, and must require a higher wage is itself ageist.
- paulddraper 11y agoI don't think anyone assumes that of all 45 year olds. But the proportion of 45 year olds with dependent families versus the proportion of 22 year old with dependent families is hugely imbalanced. We might find some hugely imbalanced results from that.