I've personally seen the opposite effect. I've seen startups run by children of very wealthy people that failed because they didn't fundamentally understand th

I've personally seen the opposite effect. I've seen startups run by children of very wealthy people that failed because they didn't fundamentally understand the value of the dollar, or what reasonable spending should look like during lean startup times. I've seen the repeated loans of a million dollars, and believe it or not, a million doesn't go very far in startup world. If you don't have revenue to offset your burn, you'll be in endless raise land. This can only go on for so long, regardless of your family's money situation. Conversely, I've seen several startups succed that were run by folks who did the obligatory teenage time working a counter at McDonald's (or equivalent). Part of their success was their ability understand and control costs, especially their lifestyle while in early stages. I've run into many people who want to get into entrepreneurship but are unable to because their lifestyle bills are so high, they'd require a salary level that no reasonable investor is willing to pay during founding.