2 ms·

That only works if your time is worth $0.

by icey 17y ago

SwellJoe 17y ago
I'm not sure I understand how that doesn't apply to every startup. If you insist on valuing your time fairly from day one, you can never start anything new. You must work for someone else, who can pay you a fair wage. The trade is in the payoff one, two, or seven years down the road. The payoff for this guy was $100,000, and he seems content with that payoff. For me, just the fact that I don't have to answer to a boss, be in the office at a certain time each day, or have to deal with constant meetings or corporate culture, is enough incentive for me to voluntarily value my time lower than I would working for someone else. Add in the potential for a very large payoff in the future (either an acquisition, an IPO, or just building a multi-million dollar business) and the trade is more than fair. I'd actually do it all for much less than I'm currently paid and less than I expect to be paid in the long run.
- icey 17y ago
  I don't insist on valuing time fairly from day one. I'm saying that it's intellectually dishonest to say that he turned a $12 domain registration into a $100,000 payday as though there was nothing in between. The fact of the matter is that making $100,000 from starting up is significantly harder and costlier than it would be to make $100,000 holding down a day job. I know the audience here knows that especially well, and I know that you specifically know that very well. I just feel like it devalues what startups do when people just hand-wave away the fact that being successful necessitates blood, sweat and tears.
  - patio11 17y ago
    being successful necessitates blood, sweat and tears This is one of those Real Scotsman pieces of lore which I think we repeat to flatter ourselves. I bleed a lot less for my startup than my day job, let me tell you.
    - apsurd 17y ago
      There is work involved in everything.
      - fallentimes 17y ago
        That's a straw man argument. Patrick didn't say there wasn't work involved.
      - pbhj 17y ago
        Even inheritance?
        apsurd 17y ago
        It is a state of mind. I just don't like the idea that people write off things to luck, talent, miracles, and gifts from God. Please note I don't discount these things, and those metaphysical wonders surely do exist (imo), but rather, it is a better builder of character to believe that everything is the result of personal decision and action. As an aside, this is why I always stay away from the Tim Ferris bickering. Everyone wants to believe he's a fraud. Whether he is or not is not important to me or you. Tim Ferris does things. That's it. Probably a bit too romantic, but I like movie script endings.

That only works if your time is worth $0.

by icey 17y ago

That only works if your time is worth $0.

I'm not sure I understand how that doesn't apply to every startup. If you insist on valuing your time fairly from day one, you can never start anything new. You must work for someone else, who can pay you a fair wage. The trade is in the payoff one, two, or seven years down the road. The payoff for this guy was $100,000, and he seems content with that payoff. For me, just the fact that I don't have to answer to a boss, be in the office at a certain time each day, or have to deal with constant meetings or corporate culture, is enough incentive for me to voluntarily value my time lower than I would working for someone else. Add in the potential for a very large payoff in the future (either an acquisition, an IPO, or just building a multi-million dollar business) and the trade is more than fair. I'd actually do it all for much less than I'm currently paid and less than I expect to be paid in the long run.

icey 17y ago
I don't insist on valuing time fairly from day one. I'm saying that it's intellectually dishonest to say that he turned a $12 domain registration into a $100,000 payday as though there was nothing in between. The fact of the matter is that making $100,000 from starting up is significantly harder and costlier than it would be to make $100,000 holding down a day job. I know the audience here knows that especially well, and I know that you specifically know that very well. I just feel like it devalues what startups do when people just hand-wave away the fact that being successful necessitates blood, sweat and tears.
- patio11 17y ago
  being successful necessitates blood, sweat and tears This is one of those Real Scotsman pieces of lore which I think we repeat to flatter ourselves. I bleed a lot less for my startup than my day job, let me tell you.
  - apsurd 17y ago
    There is work involved in everything.
    - fallentimes 17y ago
      That's a straw man argument. Patrick didn't say there wasn't work involved.
    - pbhj 17y ago
      Even inheritance?
      - apsurd 17y ago
        It is a state of mind. I just don't like the idea that people write off things to luck, talent, miracles, and gifts from God. Please note I don't discount these things, and those metaphysical wonders surely do exist (imo), but rather, it is a better builder of character to believe that everything is the result of personal decision and action. As an aside, this is why I always stay away from the Tim Ferris bickering. Everyone wants to believe he's a fraud. Whether he is or not is not important to me or you. Tim Ferris does things. That's it. Probably a bit too romantic, but I like movie script endings.