3 ms·
Survivorship bias should mainly apply to the project, but be separated from the founder. For startups - I think everyone should intuit and realize that the cha
by czbond 5y ago
Survivorship bias should mainly apply to the project, but be separated from the founder.
For startups - I think everyone should intuit and realize that the chances of success are low. A startup's natural state is death - because a founder has to put in excruciating effort to push it alive across market, product, customers, revenue, etc. Death is the default state for ALL of these areas.
This means a founder might not succeed on tries 1,2,3,4,5....10. Mainly because of the combination of multiple factors to get growth AND the founder and founders teams skills. However, if one's outcome IS to exit successfully - it could take years, decade(s) but still possible.. Each founder has to determine if it is worth it.
If one cannot fathom working 60-80 hrs a week for 7 hrs for little to no pay for the possibility of exit - please don't do anything more than start small side projects.