4 ms·

We put our entire life and livelihood at risk for the startup. I hear this a lot and it bugs me because in so many cases it's just not true, and I think it act

We put our entire life and livelihood at risk for the startup. I hear this a lot and it bugs me because in so many cases it's just not true, and I think it actually stops more people from starting companies. Founders don't risk their lives to start companies. In the Silicon Valley, they don't risk their careers either. At most they risk a few years of below-market salary and a bruised ego.

nkurz 16y ago
You may be right for a small subset of VC funded companies, but finding myself in a similar position to the author, I find your statements rather insulting. Yes, it discourages people from starting companies, and I think this may be a good thing. Is your contention that the foreclosure of his home is not a big deal? Have you been through this, or are you repeating what you've read? I have great worry that trying to start a business in the US is the largest mistake that I've ever made, and think I have legitimate fear that if it fails, there will be no legal way to recover. Suggestions for how others should avoid this position would be useful, but blanket statements that say that it really isn't a big deal aren't that helpful.
- shazow 16y ago
  Not to mention the healthcare situation. I guess most people can afford cheap catastrophic coverage, but not everyone is so lucky to be able to draw that line. All the more reason to do it while you're young and healthy, I suppose.
- haploid 16y ago
  Well, if your home gets foreclosed on, you find a rental. The only difference in lifestyle is now you have to get permission from your landlord to change the carpet. All in all, I'd suggest that foreclosure is not a big deal. Also, if you are taking on personal financial risk with a startup, you're already doing it wrong. Limited liability entities exist for a reason.

4 ms·

We put our entire life and livelihood at risk for the startup. I hear this a lot and it bugs me because in so many cases it's just not true, and I think it act

by abstractbill 16y ago

nkurz 16y ago
You may be right for a small subset of VC funded companies, but finding myself in a similar position to the author, I find your statements rather insulting. Yes, it discourages people from starting companies, and I think this may be a good thing. Is your contention that the foreclosure of his home is not a big deal? Have you been through this, or are you repeating what you've read? I have great worry that trying to start a business in the US is the largest mistake that I've ever made, and think I have legitimate fear that if it fails, there will be no legal way to recover. Suggestions for how others should avoid this position would be useful, but blanket statements that say that it really isn't a big deal aren't that helpful.
- shazow 16y ago
  Not to mention the healthcare situation. I guess most people can afford cheap catastrophic coverage, but not everyone is so lucky to be able to draw that line. All the more reason to do it while you're young and healthy, I suppose.
- haploid 16y ago
  Well, if your home gets foreclosed on, you find a rental. The only difference in lifestyle is now you have to get permission from your landlord to change the carpet. All in all, I'd suggest that foreclosure is not a big deal. Also, if you are taking on personal financial risk with a startup, you're already doing it wrong. Limited liability entities exist for a reason.