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In case I'm reading too much into this, am I right in think that you believe startups are _not_ risky? If so, then that changes nearly everything that people u
by pbiggar 16y ago
In case I'm reading too much into this, am I right in think that you believe startups are _not_ risky?
If so, then that changes nearly everything that people understand about startups.
- pg 16y agoI'm saying that while there is a large random multiplier in everyone's outcome, the risk of total failure varies enormously with the founders. Some founders have a near 0% chance of total failure. Others (a larger number) have a near 100% chance. So while this means on average the change of a startup succeeding is 1/n, quoting that stat as part of the description of a startup would be misleading, because for a small number of people it's just not true, just as for a small number of fast runners it would not be true that they'd run slow in the shoes, whatever the average person did.