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Not even just luck, there are biases in who gets funding in the first place. PG himself says he's biased toward founders that remind him of Zuckerberg and other
by ritchiea 5y ago
Not even just luck, there are biases in who gets funding in the first place. PG himself says he's biased toward founders that remind him of Zuckerberg and other past founders. That group is very predominantly white and affluent with a small cut of Asian-american and affluent and a small cut of other.
It helps a lot to have an affluent background when you start a tech company because, like a lot of other risky endeavors, even though the potential rewards are enormous it's a lot less initial earnings than just joining a company as an employee. And you worry whether if your company doesn't take off and get its next round of funding in a few months if it'll be harder to get that first job. And you may be poorer than you were pre-startup.
Not to mention that poorer kids might not ever see starting a tech startup as an option. Both because of the biases in which founders get funding and because they may culturally never have the option floated to them.