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During any gold rush, there are a small amount of people that get rich and many who don't. The only ones who are guaranteed a small fortune are the ones who se
by gavanwoolery 14y ago
During any gold rush, there are a small amount of people that get rich and many who don't. The only ones who are guaranteed a small fortune are the ones who sell the tools to the miners. Maybe not the best abstraction, but in this case the company I work at does not do anything except for build products that other people ask for (namely, iPhone/Android apps). We raised $0 in capital, started as a one-person company, and grew to 10 people (a bit under 20 with our contractors) in 2 years, several million in gross revenue this year. We have no debt, owe nobody equity, and make all our own decisions (at the cost of working for the occasionally difficult client). Everybody at the company usually works 40 hours a week at most, although I sometimes do up to 80 in light of my stupidly overkill work ethic. We don't have a product, and we don't have an exit, but we are making real money at least an can perhaps bootstrap our own products at some point. (I think 37 Signals did this? Not sure...)
- killerdark 14y agoThere's more ways of doing it. I might be sitting across the street from you right now, doing 35 hour work weeks for a fortune 500 company, riding the SV income bubble and pulling in $150K a year as a sysadmin that keeps your oh so trendy cloud up in the air (Up, up in the air! Light as a bubble in the wind!), while living a $50K lifestyle. Couple more years and I'll be down south, daydreaming about those good old days full of taking risks (I took the stairs last week!) and how I miss the company gym and free massages, while I'm sipping from my non-alcoholic beverage on a beach somewhere, and considering finally getting my college degree.