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I agree, some of the advice feels more like ‘How to be a better high risk vc startup founder’ vs ‘How to be a better 1M/yr “lifestyle” business founder’. Event
by woolvalley 8y ago
I agree, some of the advice feels more like
‘How to be a better high risk vc startup founder’ vs ‘How to be a better 1M/yr “lifestyle” business founder’.
Eventually if you want to scale yourself in the exponentiation formula you become a vc, vs grist for the founder mill.
You only have so many 1% 5 year adventure chances to do a startup before you find your 50 and dont have much to show for your life.
- gianpaj 8y agohow many people would you say try and fail 50 times? of course, failure can be defined in many ways. But I wouldn't think you end up in a bad place without having learnt a lot.
- woolvalley 8y agoLet us say you start at 20 and end at 50, you only have 6 'startup adventure' chances that can work their way through. If each have a %1 chance of success, it's very likely that the 6 adventure person wouldn't have much to show at the end of it. Ending up an equivalent of mr. bullet ball is horrifying: https://www.youtube.com/watch?v=leHwNiXgnh0 https://www.youtube.com/watch?v=leHwNiXgnh0 Because of survivorship bias, you usually never hear about these people. Many people also try only 1 or 2 adventures, and if unsuccessful go into normal employment. But you jump off the 'potential exponentiation train' that sama describes by doing that, and you've lost out on 5-10 years of potential compound savings growth, which for many who can work at FANG instead means a million or two. You also get to learn a lot and do fun stuff at FAANG employers too.