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> Doesn't work for everyone though I’d say that there is an extremely small portion of people that are able to complete Stage 2. “Doesn’t work for everyone” se

> Doesn't work for everyone though I’d say that there is an extremely small portion of people that are able to complete Stage 2. “Doesn’t work for everyone” seems like an understatement. Stage 3 is probably easier to do once you completed stage 2, but still is very difficult. Really, how many people can you count that would have successfully pulled this off? 100 maybe?

ChuckMcM 6y ago
My guess would be a few thousand in the Bay Area. Crunchbase could probably give you a better number by doing a bit of data mining on their database to find former Sun, Yahoo, Amazon, Facebook, Tesla, Apple, and Google employees who have gone on to create startups and exited those startups. Those companies alone have minted > 10,000 multi-millionaires who were simply employees at the company either prior to an IPO or prior to a large run up in value (like Apple). Of people I know who have stepped off at stage 2, they pocket enough wealth that they no longer have to work to maintain a moderate lifestyle, and then move to a place that interests them and work on other pursuits.
thisalreadyiss 6y ago
I think 90% failure rate at every stage is honest. I mean even stage 1 I am sure has an ever-increasing number of people that "want to learn to code" or go through an online bootcamp, watch a youtube series on javascript, etc. and never code professionally a day in their lives.
- ChuckMcM 6y ago
  I think it is challenging (but not impossible) to fail at stage 1. If you join any tech company that is already public and part of their compensation is incentive stock options and/or restricted stock which is refreshed annually, then 4+ years can deliver a pretty solid "boost" for you to do Stage 2. Stage 2 is harder of course, but 90% harder? A bunch of companies fail in the seed/series A stage. That can happen reasonably quickly (1 - 2 years), so stage 2 can take 3 - 5 years to catch the right one. And then stage 3 is kind of up to you're ability to hit the market at the right time. More difficult still, but not impossible.

ChuckMcM 6y ago

My guess would be a few thousand in the Bay Area. Crunchbase could probably give you a better number by doing a bit of data mining on their database to find former Sun, Yahoo, Amazon, Facebook, Tesla, Apple, and Google employees who have gone on to create startups and exited those startups. Those companies alone have minted > 10,000 multi-millionaires who were simply employees at the company either prior to an IPO or prior to a large run up in value (like Apple). Of people I know who have stepped off at stage 2, they pocket enough wealth that they no longer have to work to maintain a moderate lifestyle, and then move to a place that interests them and work on other pursuits.

thisalreadyiss 6y ago

I think 90% failure rate at every stage is honest. I mean even stage 1 I am sure has an ever-increasing number of people that "want to learn to code" or go through an online bootcamp, watch a youtube series on javascript, etc. and never code professionally a day in their lives.

ChuckMcM 6y ago
I think it is challenging (but not impossible) to fail at stage 1. If you join any tech company that is already public and part of their compensation is incentive stock options and/or restricted stock which is refreshed annually, then 4+ years can deliver a pretty solid "boost" for you to do Stage 2. Stage 2 is harder of course, but 90% harder? A bunch of companies fail in the seed/series A stage. That can happen reasonably quickly (1 - 2 years), so stage 2 can take 3 - 5 years to catch the right one. And then stage 3 is kind of up to you're ability to hit the market at the right time. More difficult still, but not impossible.