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> A lot of people think that they want to be an entrepreneur because it’s a good way to make money. It just isn’t, that’s just wrong. Depending on how you count
by jpdoctor 15y ago
> A lot of people think that they want to be an entrepreneur because it’s a good way to make money. It just isn’t, that’s just wrong. Depending on how you count, 95% to 99% of companies fail.
Bubbles like the one we have now are not common. It will continue until the Fed takes away the punchbowl, so make hay while the sun shines (and mix those metaphors while the mixing is good.)
- anon01 15y agoWhat about the entrepreneurs who pay themselves ridiculous salaries once they get even a little funding? It seems like a great way to make money. Our founder is the highest paid person in the company and we live one month at a time because of it. Is this common during the bubble, or is my situation unique? Highest paid is fact, one month at a time is opinion.
- ericflo 15y agoThat is not normal, and a very bad sign.
- jpdoctor 15y ago> Is this common during the bubble Yes. We saw it a bunch during Bubble v1. I thought it was nuts then: Weren't the people/VCs supplying the money paying attention? After a while, you realize that easy money covers up a lot of sins over several levels of the foodchain. When money tightens, those sins will be expurgated, but until then: Party on. EDIT: To expand a bit, it's not "normal" as ericflo says in another reply and I agree it's a "bad" sign. I'm just pointing out that as long as those supplying the money are seeing positive returns, they're busy working their other opportunities. When Sequoia republishes "RIP: Good Times", out comes the microscope on spending and board meetings will go over details that were ignored before.