4 ms·

I noticed all these entrepreneurs had access to at least 100,000 dollars of capital and most several times more then that which I think makes such self funding

• smt88 10y ago
  > at least for a large class of Americans The vast majority of Americans can't (and shouldn't) start companies. The risk far outweighs the reward. Even those who can afford to start companies overwhelmingly fail. Starting a company is a luxury of those with lots of cash or lots of connections (or both). You read articles about teenagers getting VC, but that's a very small minority of the people who get funded.
• jkarneges 10y ago
  It all comes down to your expenses. A good rule of thumb is to budget at least 6 months of costs before setting out. Maybe that's some tens of thousands of $. This is often enough time get some early traction before looking at angel investment or an accelerator. Hopefully at that point you're no longer burning your own money. VCs come much later. Of course every situation is different. $100K+ commitment is not unreasonable if fundraising is difficult. Then again, some people raise a million bucks after a few weeks of prototyping. In any case, people with money have more flexibility than people without it. One of the hard truths of startups.