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The problem is PG says that you don't have to be a rich kid, and then takes Airbnb as an example where the founders are definitely rich kids compared to the res
by shafyy 7y ago
The problem is PG says that you don't have to be a rich kid, and then takes Airbnb as an example where the founders are definitely rich kids compared to the rest of the nation and world (not rich as in "daddy has a private jet", but definitely in the top couple of percent).
Of course PG is right that you don't need to be a rich kid, but he chose his anecdote poorly.
PS: Also Sam recently said (in the StrictlyVC interview) that most founders at YC are from upper middle class families, so there's your data.
- grenoire 7y agoWorldwide, definitely top 0.1% (at approx. 80K annual income).
- deleted 7y ago[deleted]
- Someone1234 7y agoWorldwide is an unhelpful metric. They're starting up in a specific place, so their wealth should be measured relative to that location. For example 80K won't get a roof over your head in NYC or Silicon Valley, but could support an entire family in middle-America.
- shafyy 7y agoIt should be measured within the geographic bounds of where you can relatively freely and easily move within. If you're making 80k, maybe don't live in San Francisco (or do, but then you need to cut back other expenses). And yes, I know, it's not easy to move for everyone to another city or region because of several reasons, but generally speaking most Americans could move to another region where they would get a similar paying job and more value for their buck. Edit: Typos