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Indie hackers had a great post a couple of years ago looking at how many projects posted there were actually successfully. I don't remember the details now, but
by kypro 4y ago
Indie hackers had a great post a couple of years ago looking at how many projects posted there were actually successfully. I don't remember the details now, but I remember it being a depressingly small number that made me realise how statistically stupid it was to attempt to create a tech startup.
I think the conclusion was that you probably had something like a low single digit percentage chance of building something that's profitable but makes < $1,000 / month. And the chance of building something that would replace your income was something like 1 in thousands.
If you're building something you love then by all means do it, but as someone who's been in your position and who has seen several of my colleagues and friends in your position at this point I tend to recommend people against trying to create a tech startup. It's almost always a waste of time, money and more stress than it's worth. Plus it's not like we get paid bad for working a regular job in tech.
Imo there's just way better ways to make money. Tech is weird in that you're competing against a lot of very smart people, the barriers to building a tech product are very low, and the competition is global. In contrast if you open a used car lot you'll typically be competing with few average business men in the area who had the capital to start the company. Your chances of success are astronomically higher even if it's capped.
If you really want to start a company at least leverage the high income you make as a tech worker to start something with some barrier to entry. It might not make you a multimillionaire, but I've seen way more people successfully go from a tech job into opening a restaurant or into real estate.
Anyway, sending you love man. I hope you're doing okay. I know how hard it can be accepting that your dreams will never materialise. I wanted to be an a tech entrepreneur since I was young teen. I wasted most of my best years behind a keyboard and monitor building stuff when I should have been having fun with friends. When I realised in my mid twenties that I wasted a decade of my life aspiring to something that would never happen it took something like 2-3 years for me to get over that feeling of being lost in life.
- moneywoes 4y ago> If you really want to start a company at least leverage the high income you make as a tech worker to start something with some barrier to entry. It might not make you a multimillionaire, but I've seen way more people successfully go from a tech job into opening a restaurant or into real estate. Can you expand on this? Like commercial property? Restaurants are notoriously unprofitable
- ChanningAllen 4y ago> Tech is weird in that you're competing against a lot of very smart people, the barriers to building a tech product are very low, and the competition is global. In contrast if you open a used car lot you'll typically be competing with few average business men in the area who had the capital to start the company. Your chances of success are astronomically higher even if it's capped. This is exactly what I tell some of my non-techie friends who are interested in entrepreneurship. Problem is, it turns out most people care just as much about the journey as they do about the destination and turn their noses up at the prospect of being another guy/gal running a drab retail store down the street.