In the sense that most startups, like most enterprises, fail without returning a positive reward to its owners or investors, then yes, I suppose startups do ind

In the sense that most startups, like most enterprises, fail without returning a positive reward to its owners or investors, then yes, I suppose startups do indeed look like hobbies. However, in the sense that a startup is an enterprise, which aims to employ people, seek an exit through acquisition or IPO, or simply to scale to a large profit-driven enterprise, it is not like a hobby. Even if these startups fail, the intent is to create an enterprise that generates return to its shareholders, rather than something done simply for the personal interest or enjoyment of its owners. Of course... Hobbies of course can become startups, and startups can become hobbies (once they give up on the enterprise aspect). And many startups are indeed run for the personal interest or enjoyment of the startup. So, it's quite possible you can only really identify a startup as a hobby either in the short-term (pre-revenue / pre-success) or in hind-sight (after they have proven to have failed). Would this make Color a startup or a hobby?