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Are there really many cases of founders who went all-in and lost, ending up homeless or otherwise destitute? Asking honestly- I know a small population of found
by kevstev 6y ago
Are there really many cases of founders who went all-in and lost, ending up homeless or otherwise destitute? Asking honestly- I know a small population of founders, and they have all failed, but generally have bounced back quite well. They at least got to a point where they launched and at least tried to find their market fit, and even getting to that point is an incredibly valuable experience.
None have massive houses in the Hamptons, but generally they have all found good jobs and are in the management ranks (aside from one who just decided that he did not want to go that route) at decent companies. It seems to me that if you took a decent stab and didn't completely flame out with some obviously poor idea or execution, you really tend to fail "up" in the end.
- tdrp 6y agoI think most tech founders are more than capable of getting a decent paying engineering corporate job if they choose to do so. The problem (at least for me, who started off in FAANG initially) is that the longer you're in the start-up world, the more you hate the idea of going back to a corporate job. So in my previous start-up I went all-in, racked up tens of thousands in CC debt and would have sold every single one of my possessions before letting it happen. When I missed my first rent payment, I ended up reluctantly selling the company and only accepted the offer on the condition that my transition period would be one month or less (i.e. I don't actually have to work for the acquirer). Throughout that time, my previous coworkers/managers from the companies I originally worked for kept trying to convince me to come back.