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"hey knew as well as you and I what percentage of businesses fail, and what percentage exit at tiny returns." Yes, they did. And they chose to forgo a regular
by Turing_Machine 9y ago
"hey knew as well as you and I what percentage of businesses fail, and what percentage exit at tiny returns."
Yes, they did. And they chose to forgo a regular paycheck.
Why don't the employees take advantage of this "tempting gamble", then? According to you, there's really no downside at all, right?
- AstralStorm 9y agoThe main downside is social. Many founders are ruining their personal lives. (Also in consequence ruining lives of others.) The gamble is not free at all.
- bigiain 9y agoSome of them do. At least some of the gambling type. I have twice, neither time particularly successfully - in fact one time quite spectacularly unsuccessfully if measured purely by how much money I put in my bank account for that 18 months of full time work. And I'm seriously considering an offer to ride that ride again right now... The downside is the consequences of failure usually include losing money - either real invested money, or in opportunity cost of the gap between market-rate-salary and what you're able to pay yourself for the time you spend working on your own business. This is often not a problem for early twenties tech dudes, it's not a realistic gamble for someone with a family or other responsibilities for which foregoing a reliable regular income isn't really a sensible/ethical option.