4 ms·

"This article is the typical BS that assumes "entrepreneurs" only do SV startups or want a big exit." I don't think it assumes that, and I don't think we should

"This article is the typical BS that assumes "entrepreneurs" only do SV startups or want a big exit." I don't think it assumes that, and I don't think we should just resign to the fact that rich kids get rich.

manigandham 9y ago
So ex-bankers are starting your local bakeries and notaries and hair salons? 10s of millions of small businesses and most of them are started by rich guys? It clearly says "in silicon valley" at the end so yes it's limited to the typical example of VCs and exits. The rich do get richer (up to a point anyway) but what I'm saying is that you don't need to be rich at all to be an entrepreneur, and some of those who start with nothing do go on to become rich as well.
- uoaei 9y ago
  All startups start small, but not all small businesses are startups. Startups are characterized by fast growth cycles and usually are intended to end in getting acquired or sold. Bakeries and such don't fall under this description, usually.
  - manigandham 9y ago
    Entrepreneurs start businesses. A small fraction of those businesses are SV startups, but the vast majority are not - so this article talking about "entrepreneurs" doesn't apply to the vast majority of them, has no sources for what it claims, and is thus rather useless.
    - vorotato 9y ago
      Most small businesses fail. They fail because the founder doesn't have enough money to survive the dips and bumps. Being rich gives you an edge in making money, it's pretty cut and dry.
      - WalterBright 9y ago
        Most fail for lots of reasons, insufficient capital is only one of them. Another large reason is incompetent accounting - i.e. having a poor grasp of their financial situation. This is often confused with insufficient capital. Besides, anyone can start a business with essentially zero capital. One can mow lawns, do babysitting, maid service, write apps, write a novel, etc. The only capital I invested in my own business startup was buying a computer. Search Amazon books for "starting a business with no money" for lots of ideas.

manigandham 9y ago

So ex-bankers are starting your local bakeries and notaries and hair salons? 10s of millions of small businesses and most of them are started by rich guys? It clearly says "in silicon valley" at the end so yes it's limited to the typical example of VCs and exits. The rich do get richer (up to a point anyway) but what I'm saying is that you don't need to be rich at all to be an entrepreneur, and some of those who start with nothing do go on to become rich as well.

uoaei 9y ago
All startups start small, but not all small businesses are startups. Startups are characterized by fast growth cycles and usually are intended to end in getting acquired or sold. Bakeries and such don't fall under this description, usually.
- manigandham 9y ago
  Entrepreneurs start businesses. A small fraction of those businesses are SV startups, but the vast majority are not - so this article talking about "entrepreneurs" doesn't apply to the vast majority of them, has no sources for what it claims, and is thus rather useless.
  - vorotato 9y ago
    Most small businesses fail. They fail because the founder doesn't have enough money to survive the dips and bumps. Being rich gives you an edge in making money, it's pretty cut and dry.
    - WalterBright 9y ago
      Most fail for lots of reasons, insufficient capital is only one of them. Another large reason is incompetent accounting - i.e. having a poor grasp of their financial situation. This is often confused with insufficient capital. Besides, anyone can start a business with essentially zero capital. One can mow lawns, do babysitting, maid service, write apps, write a novel, etc. The only capital I invested in my own business startup was buying a computer. Search Amazon books for "starting a business with no money" for lots of ideas.