4 ms·
The comparison between startups and PhDs is not esp. appropriate. The entrepreneur often is willing to assume greater risk for greater pecuniary reward, whereas
by Jd 16y ago
The comparison between startups and PhDs is not esp. appropriate. The entrepreneur often is willing to assume greater risk for greater pecuniary reward, whereas the PhD often is not assuming any greater risk but willing to accept likely lesser pay to do what he loves.
Which isn't to say that there is a class of entrepreneurs that start companies simply because they love starting companies, but that this isn't unique to entrepreneurs (e.g. there are lawyers who love doing lawyerly things).
- stevenbedrick 16y agoI agree that it's not a perfect comparison, but there are undoubtably similarities. In both cases, you're working mostly on your own, on a project that you have to define and that is entirely dependent on your personal level of self-motivation. One of the biggest challenges to running a startup seems to be correctly defining the problem on which to work, and the single biggest hurdle to finishing a PhD is coming up with your dissertation topic.
- SapphireSun 16y agoI have long thought like this. I think the key similarity isn't in the particulars, it's that both are self driven, creative works, and in most cases, no one else will care what you're doing until you succeed.
- lukeschlather 16y agoMoney isn't everything. Article is comparing absolute rewards, not pecuniary rewards. That said, I would say that a PHD is a much more modest risk than a startup, and has similarly modest rewards.