5 ms·
You take a pay cut. In return you get to be a decision maker and drive the mission of the company. I worked a few years at a high paying job (about $100K), am
by tppiotrowski 5y ago
You take a pay cut. In return you get to be a decision maker and drive the mission of the company.
I worked a few years at a high paying job (about $100K), am single and can forgo some luxuries. I did a startup with some friends because we enjoyed hanging out and could afford to work for free. I worked on contract for $6K a month. No benefits.
- chubs 5y agoJust curious what people do once they're at a stage in life (eg kids) where taking a paycut isn't very doable? Do they simply bow out of the startup world? I wonder if people at that stage have the experience to execute startups very effectively, i wonder if there's a structural weakness in how startups are financed that with a bit more capital (and there should be plenty of that sloshing around with governments printing like crazy) they could execute far better. I dont have fully formed thoughts on this of course :)
- clpm4j 5y agoYes, unfortunately, that seems to be the case. I've had some startup colleagues who were married with young kids, but it was rare, and often the case that their partner had a stable well-paying job. The risk simply becomes too much of a burden at a certain point in life, for most people.
- lazide 5y agoThe other alternative? Be rich/have a huge nest egg, or get to seed round type funding stage super early - aka actually know how to execute on a startup. Most sane people just don’t do startups though if they are in that position.
- selcuka 5y agoI believe that's how solo entrepreneurship and side hustle culture was born.