3 ms·

Looks like a karma bait to me

niggler 14y ago
This was a genuine question Context (for posterity sake): https://news.ycombinator.com/item?id=5404216 https://news.ycombinator.com/item?id=5404216 (conversation between myself and pytrin) In particular, the last three posts: https://news.ycombinator.com/item?id=5404743 https://news.ycombinator.com/item?id=5404743 https://news.ycombinator.com/item?id=5404879 https://news.ycombinator.com/item?id=5404879 https://news.ycombinator.com/item?id=5404996 https://news.ycombinator.com/item?id=5404996 <niggler> Many if not most entrepreneurs already made their FU money or already had a cash reserve. <pytrin> It's pretty shocking to me the different worlds we live in. You honestly think that most startups are created by people with FU money? <niggler> "You honestly think that most startups are created by people with FU money?" Let's put it to a poll: https://news.ycombinator.com/item?id=5404986 https://news.ycombinator.com/item?id=5404986 I was hoping to get some statistics, but I was surprised by the overwhelming response.
- pytrin 14y ago
  Yet somehow, FU money is not on the poll. So I don't see how that settles anything. A more interesting poll would have been to ask that question specifically.
  - eurleif 14y ago
    How does "You have enough saved up so that even if things blew up you could last a year or more" not cover that option?
    - pytrin 14y ago
      I lived on 2k$ a month for two years. I saved up 50k$ from contract work in order to accomplish that. I really don't think that counts as FU money.
      - niggler 14y ago
        My original statement (review the posts) was "Many if not most entrepreneurs already made their FU money or already had a cash reserve." It sounds like you already had a cash reserve.
        pytrin 14y ago
        The examples you gave (Dorsey, Zuckerburg) pointed much more in the direction of the latter. Putting it the context of the original argument, I indeed put it all on the line by stopping to work completely and living a very barebone life. That's completely different from VCs who really have FU money and are not affected (or marginally affected) financially when their investments don't pan out. Back to the poll, the option of FU money (enough so you wouldn't be affected by not working for a year or several) - is not there.
        niggler 14y ago
        to make it crystal clear, the examples were: - Dorsey was putting it all on the line with Square -- at that point he had his personal wealth secure thanks to twitter (already raised quite a bit of VC money and already paid himself). - Bill Gates had family money in the form of a trust before microsoft was conceived. - Mark Zuckerberg's parents were in the position to kick in money to Facebook (and in some accounts, they actually did, though I know neither of them and everything on the topic is hearsay) - Bill Nguyen was already an accomplished entrepreneur by the time he started Color In half the examples, the money was self-made, and in the other half there was familial support. "That's completely different from VCs who really have FU money and are not affected (or marginally affected) financially when their investments don't pan out." You are playing games here. Many VCs (especially some of the newer ones) don't have a track record and work hard to establish one by researching, picking whom they think are winners, and providing support. It's obvious today that investing in Facebook or Twitter at the pre-1B stage would be profitable, but it wasn't quite as obvious back then. And if a new VC has a string of losers, you can bet your bottom dollar they'll have a very hard time drumming up the next vintage. Back to the poll, given the context (which I thought was self-explanatory) the option "You have enough saved up so that even if things blew up you could last a year or more" -- 169 votes at the time of this comment -- is the one that unites the aforementioned examples.

This was a genuine question Context (for posterity sake): https://news.ycombinator.com/item?id=5404216 https://news.ycombinator.com/item?id=5404216 (conversation between myself and pytrin) In particular, the last three posts: https://news.ycombinator.com/item?id=5404743 https://news.ycombinator.com/item?id=5404743 https://news.ycombinator.com/item?id=5404879 https://news.ycombinator.com/item?id=5404879 https://news.ycombinator.com/item?id=5404996 https://news.ycombinator.com/item?id=5404996 <niggler> Many if not most entrepreneurs already made their FU money or already had a cash reserve. <pytrin> It's pretty shocking to me the different worlds we live in. You honestly think that most startups are created by people with FU money? <niggler> "You honestly think that most startups are created by people with FU money?" Let's put it to a poll: https://news.ycombinator.com/item?id=5404986 https://news.ycombinator.com/item?id=5404986 I was hoping to get some statistics, but I was surprised by the overwhelming response.

pytrin 14y ago
Yet somehow, FU money is not on the poll. So I don't see how that settles anything. A more interesting poll would have been to ask that question specifically.
- eurleif 14y ago
  How does "You have enough saved up so that even if things blew up you could last a year or more" not cover that option?
  - pytrin 14y ago
    I lived on 2k$ a month for two years. I saved up 50k$ from contract work in order to accomplish that. I really don't think that counts as FU money.
    - niggler 14y ago
      My original statement (review the posts) was "Many if not most entrepreneurs already made their FU money or already had a cash reserve." It sounds like you already had a cash reserve.
      - pytrin 14y ago
        The examples you gave (Dorsey, Zuckerburg) pointed much more in the direction of the latter. Putting it the context of the original argument, I indeed put it all on the line by stopping to work completely and living a very barebone life. That's completely different from VCs who really have FU money and are not affected (or marginally affected) financially when their investments don't pan out. Back to the poll, the option of FU money (enough so you wouldn't be affected by not working for a year or several) - is not there.
        niggler 14y ago
        to make it crystal clear, the examples were: - Dorsey was putting it all on the line with Square -- at that point he had his personal wealth secure thanks to twitter (already raised quite a bit of VC money and already paid himself). - Bill Gates had family money in the form of a trust before microsoft was conceived. - Mark Zuckerberg's parents were in the position to kick in money to Facebook (and in some accounts, they actually did, though I know neither of them and everything on the topic is hearsay) - Bill Nguyen was already an accomplished entrepreneur by the time he started Color In half the examples, the money was self-made, and in the other half there was familial support. "That's completely different from VCs who really have FU money and are not affected (or marginally affected) financially when their investments don't pan out." You are playing games here. Many VCs (especially some of the newer ones) don't have a track record and work hard to establish one by researching, picking whom they think are winners, and providing support. It's obvious today that investing in Facebook or Twitter at the pre-1B stage would be profitable, but it wasn't quite as obvious back then. And if a new VC has a string of losers, you can bet your bottom dollar they'll have a very hard time drumming up the next vintage. Back to the poll, given the context (which I thought was self-explanatory) the option "You have enough saved up so that even if things blew up you could last a year or more" -- 169 votes at the time of this comment -- is the one that unites the aforementioned examples.