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It's a psychological bar that's easier for people with money to cross. If you always feel like you're lacking then it's hard to make the jump towards entreprene

It's a psychological bar that's easier for people with money to cross. If you always feel like you're lacking then it's hard to make the jump towards entrepreneurship. You don't necessarily need to be a rich kid but you have to have the confidence that ultimately you won't end up homeless and penniless. If you were raised in an affluent/economically protected home it so much easier to start a business - even if you don't have the contacts.

deleted 9y ago
[deleted]
Top19 9y ago
For some reason in the United States we have a cult of moral-kombat-individual responsibility that doesn’t value community. It reminds me of the Est “radical responsibility” seminars in the late 70’s that would say provocative things like “it’s your responsibility you got cancer!”. There are definitely many good things that can come from a focus on individual responsibility, but where does it end? Why not make college free if you’re rich, and you pay full price if you’re lower income? If everything is individual responsibility, does it even matter? Why believe in God? Does community matter?
_jal 9y ago
It isn't just psychological. There is very real risk involved. An awful lot of entrepreneurs don't succeed the first time, but eventually figure it out. Now imagine you're married to someone who just folded a company that ate two years of their life and most of their savings. How enthusiastic are you for the next run? I don't call that a psychological effect. The partner is right - there is a very real risk of failing again, with worse outcomes. If, however, you have enough zeros in the bank (or an account at the Bank of Mom&Dad), eh, it is "just" a failure. That isn't my story, but somewhat close. Started a company, we never quite "hit", but we hit profitability, were growing organically at a healthy clip and never had to take money. Made a mistake around the end of year three that killed us in year five. And that's how I spent 15 years of savings. I've come close to trying again, but I'm now at an age where that's increasingly stupid without a substantial cushion in the bank, unless you happen to like the taste of cat food.
- felipemnoa 9y ago
  >>cat food Why would you buy cat food though? It is not that much cheaper than some really cheap pasta. In college I was always on the lookout for the pasta specials at the supermarket. Pasta and some cheap olive oil is enough to get you by when times are tough . And if times were looking a bit good you could add some Feta and Ragu [1]. [1] https://www.ragu.com/ https://www.ragu.com/
  - _jal 9y ago
    It was a reference to a common shorthand/cliché - "cat food retirement" is one variation. I was a rice and beans fan.
- milofeynman 9y ago
  Health insurance too. Unless you end up married with a SO who has health insurance and enough to support you it's risky in the US with our healthcare system.
  - sjg007 9y ago
    It's far far less risky with the ACA now since that is based on income and you can qualify for subsidies. Also straight out of college is less risk too if you can be on your parents insurance until age 26.

deleted 9y ago

[deleted]

Top19 9y ago

For some reason in the United States we have a cult of moral-kombat-individual responsibility that doesn’t value community. It reminds me of the Est “radical responsibility” seminars in the late 70’s that would say provocative things like “it’s your responsibility you got cancer!”. There are definitely many good things that can come from a focus on individual responsibility, but where does it end? Why not make college free if you’re rich, and you pay full price if you’re lower income? If everything is individual responsibility, does it even matter? Why believe in God? Does community matter?

_jal 9y ago

It isn't just psychological. There is very real risk involved. An awful lot of entrepreneurs don't succeed the first time, but eventually figure it out. Now imagine you're married to someone who just folded a company that ate two years of their life and most of their savings. How enthusiastic are you for the next run? I don't call that a psychological effect. The partner is right - there is a very real risk of failing again, with worse outcomes. If, however, you have enough zeros in the bank (or an account at the Bank of Mom&Dad), eh, it is "just" a failure. That isn't my story, but somewhat close. Started a company, we never quite "hit", but we hit profitability, were growing organically at a healthy clip and never had to take money. Made a mistake around the end of year three that killed us in year five. And that's how I spent 15 years of savings. I've come close to trying again, but I'm now at an age where that's increasingly stupid without a substantial cushion in the bank, unless you happen to like the taste of cat food.

felipemnoa 9y ago
>>cat food Why would you buy cat food though? It is not that much cheaper than some really cheap pasta. In college I was always on the lookout for the pasta specials at the supermarket. Pasta and some cheap olive oil is enough to get you by when times are tough . And if times were looking a bit good you could add some Feta and Ragu [1]. [1] https://www.ragu.com/ https://www.ragu.com/
- _jal 9y ago
  It was a reference to a common shorthand/cliché - "cat food retirement" is one variation. I was a rice and beans fan.
milofeynman 9y ago
Health insurance too. Unless you end up married with a SO who has health insurance and enough to support you it's risky in the US with our healthcare system.
- sjg007 9y ago
  It's far far less risky with the ACA now since that is based on income and you can qualify for subsidies. Also straight out of college is less risk too if you can be on your parents insurance until age 26.