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> I think you are too negative but there is definitely something true about a lot of founders coming from well off families. Its not negativity; its anger. We
by crankylinuxuser 8y ago
> I think you are too negative but there is definitely something true about a lot of founders coming from well off families.
Its not negativity; its anger.
We have this idea.. That you can only with $5k make your own multi-million dollar empire. But you're just too lazy to do it.
And that's far from the truth. Obviously, rich family kid who dropped out of $elite_school isn't going to be homeless. So, they get an "angel investor" (read: family). And those other services you need, like legal, sales, and dozens of other things are smoothed over by quiet words said at social functions, 'My son needs some internet business help to present to VCs'... And they have the connections to get it done.
Summing it up, it is access to money, a strong social net to fall back on, time, access to resources, and access to connections.
The VCs and rest can pretend that anybody can, but I know nobody who could do this for a year, possibly fail, and recover. We all would be sunk and feeling these ramifications for years.
- sidlls 8y agoPeople like to discount all these things as being outliers, but they're the norm. Even many "rags to riches" stories are frequently more about luck and building a network of support from which the business can be launched than they are about scrappy business sense. Take WhatsApp's founder: a true self-made, rags-to-riches story. Underlying his self-made success is that he'd built a solid network and financial padding working in high-paying tech jobs at places like Yahoo. He worked hard to reach a point that most founders are simply born into and then launched a successful business.
- nightski 8y agoMeh it just takes more time. It does take diligent budgeting, financial planning, and saving. But especially for a software engineer anyone can get there if it is a priority.