6 ms·
OP here. Personally, I came to believe that the expected payout of entrepreneurship is not anywhere near break even. Just like a roulette wheel is expected to p
by fivedogit 12y ago
OP here. Personally, I came to believe that the expected payout of entrepreneurship is not anywhere near break even. Just like a roulette wheel is expected to pay out .97 for every dollar over that long haul (.03 house cut), accounting for all possible outcomes, including "jackpots", I started to feel like the expected payout of any given entrepreneurial effort wasnt worth the investment. Sure, some end up like Uber or Paypal. But the vast silent majority are failures.
There is some nonmonetary value in giving it a shot, I guess, but that value diminishes with each successive failure, even as the chance of success increases as a function of one's previous experience.
A friend and I were remarking recently that for all our entrepreneurial effort {10+ years each) and meeting with other entrepreneurs, we don't know anyone who has "made it". (A guy from my class in college sold a company for 170 mil, but I didn't know him before.) That's dozens or hundreds of people trying and zero successes.
In short, I think the odds are much longer than most are willing to believe, and that sapped my motivation to keep trying.