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> Is the only reason to create a startup to experience exponential growth and get really rich and have your own stock symbol? The answer is yes, if your workin

by sah2ed 7y ago

> Is the only reason to create a startup to experience exponential growth and get really rich and have your own stock symbol? The answer is yes, if your working definition of entrepreneurship agrees with the one used by Lori Greiner: ‘Entrepreneurs are the only people who will work 80 hours a week to avoid working 40 hours a week [like everyone else]’. People who believe in putting in twice the effort to reap exponential growth rather than (the less exciting) organic growth do so under the assumption that they can compress time. For tasks that are amenable to time compression like running a startup, the only reliable way to compress time is to increase the number of man hours spent tackling the (perceived) opportunity, which of course means hiring people as fast as your war chest permits. And because the size of your war chest determines the number of people you can hire per week or per month to allow you attain exponential growth, it is no surprise that a lot of founders seek out VC funding.

perennate 7y ago
She says regarding her quote, "And it is true, because we like to be our own bosses. And so if you're one of those people, you want to quit your day job, you don't want to punch a clock, you want to have freedom and also be freedom of your own destiny." [1] It seems that your interpretation of her quote doesn't match Greiner's own interpretation. I think the point she's making is simply that entrepreneurs are willing to work more hours on their own business to avoid working for someone else. Whether the business grows exponentially or organically doesn't matter. I also didn't quite follow your interpretation, why does avoiding working 40 hours a week lead to spending more man hours to pursue an opportunity? (edit: thanks for explaining) [1] https://www.businessinsider.com/lori-greiner-shark-tank-entrepreneurs-2016-7 https://www.businessinsider.com/lori-greiner-shark-tank-entr...
- sah2ed 7y ago
  > I also didn't quite follow your interpretation, why does avoiding working 40 hours a week lead to spending more man hours to pursue an opportunity? Disclaimer: my interpretation is in the context of the SV mantra under discussion, I have no horse in this race. Working 80hours/week involves making a lot of sacrifices with respect to family, friends and (often overlooked) one’s health, so the people who do so think of the (outsized) reward at the end to drive their work ethic that is unsustainable for most people over the long term. Also, there is only so much code one founder can write, ditto for sales, which is why hiring more people is a sensible strategy.

by sah2ed 7y ago

perennate 7y ago

She says regarding her quote, "And it is true, because we like to be our own bosses. And so if you're one of those people, you want to quit your day job, you don't want to punch a clock, you want to have freedom and also be freedom of your own destiny." [1] It seems that your interpretation of her quote doesn't match Greiner's own interpretation. I think the point she's making is simply that entrepreneurs are willing to work more hours on their own business to avoid working for someone else. Whether the business grows exponentially or organically doesn't matter. I also didn't quite follow your interpretation, why does avoiding working 40 hours a week lead to spending more man hours to pursue an opportunity? (edit: thanks for explaining) [1] https://www.businessinsider.com/lori-greiner-shark-tank-entrepreneurs-2016-7 https://www.businessinsider.com/lori-greiner-shark-tank-entr...

sah2ed 7y ago
> I also didn't quite follow your interpretation, why does avoiding working 40 hours a week lead to spending more man hours to pursue an opportunity? Disclaimer: my interpretation is in the context of the SV mantra under discussion, I have no horse in this race. Working 80hours/week involves making a lot of sacrifices with respect to family, friends and (often overlooked) one’s health, so the people who do so think of the (outsized) reward at the end to drive their work ethic that is unsustainable for most people over the long term. Also, there is only so much code one founder can write, ditto for sales, which is why hiring more people is a sensible strategy.