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lol.....25+ is considered old? This is why most of the big startups of this year are social like snapchat, tumblr, etc. The opportunities where customers are wi
by nashequilibrium 13y ago
lol.....25+ is considered old? This is why most of the big startups of this year are social like snapchat, tumblr, etc. The opportunities where customers are willing to spend shitloads of money like enterprise, hardware are not funded anywhere near as well as social. This is beacuse 19yr olds dont know much about HR or disrupting the Investment Banking software industry. This requires some exposure to the problems firsthand, which require being around the block. We are totally overextended on social, techcrunch is like replaying the same movie over and over.
The truly break-out companies founded in markets where customers are willing to pay, are started by entrepreneurs over 28. Age is not a hard rule but we talking about averages here. Steve blanks spoke well about how he started up his companies while still managing family life. Check quora for famous tech founders over 30 and their take on it.
An example about how a person over 30 starts a business from Quora:
Marc Bodnick, Co-Founder, Elevation Partners
We did it by starting with a profitable service line.
I was 34 when I founded Arcstone. We had three young kids (we now have four). I was coming off a VC salary of ~$250K, and yet didn't have much savings to speak of. I started Arcstone with $18K borrowed from my brother-in-law, and a couple credit cards to service revolving debt.
We started a service business targeting a specific, relevant pain point, which has a quick sales cycle. We became profitable immediately; with our profits we both fed ourselves and invested in technology and infrastructure. We were careful not to overbuild on our way up, though some expenditures (like our 5-year lease) were taken with a leap of faith.
Three+ years on, we are a nationally respected financial services firm (primarily in the valuation niche) with a healthy top (and bottom) line, and a very happy and dedicated team of seven.
Getting out of the Silicon Valley mindset -- Seed/A/B/C/Exit -- has been incredibly liberating.
- Crito 13y agoI would not say that 25+ is old, but I would say that it is slightly older. Slightly older than the people typically interested in a "fratty" culture.
- nashequilibrium 13y agoYou should read "The fall of Long Term Capital Management by Robert Lowenstein". Fratty culture is not limted to the young or inexperienced. John William Meriwether - born August 10, 1947 Myron Samuel Scholes - born July 1, 1941 Robert Cox Merton - born 31 July 1944
- Crito 13y agoI didn't say that I think it is limited to the young. I said that I think that people interested in fratty culture tend to be young. Beanbag chairs and a constantly flowing keg are not meant to attract older talent. Certainly there are some older people who are attracted to that type of climate, but that really is not the target audience.
- onebaddude 13y agoThe book is "When Genius Failed", and though it's been a a while since I've read it, I don't recall either of the Nobel Prize winners (nor Merriwhether, for that matter) participating in any "frat-like" behaviour. Not everyone who works at a hedge fund comes from the cast of Boiler Room. Talk about painting people with the same brush...
- nashequilibrium 13y agoI read the book, read the part about the way they carried on at Salomon Brothers, very frat like without the wild parties & shots. Nobody labelled the Hedge Fund industry as boiler room types, especially since i spent 4yrs in the industry on the stat arb side.
- beagle3 13y agoMeriwether apparently deserves all the scorn you can muster, but Merton and Scholes don't according to my recollection of the book (and from people who had actually been there)
- crassus 13y agoI observed an incubator program where there was an early-20s founder who was very fratty, taking shots in the office with his team to celebrate releases and stuff like that. That team all lived together. As founders age into their late 20s, they seem to become less enamored of that lifestyle.
- deleted 13y ago[deleted]