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One of the reasons startups aren't for everyone is that most people strongly prefer a steady moderate income over a risky and sporadic one no matter how great (
by anateus 17y ago
One of the reasons startups aren't for everyone is that most people strongly prefer a steady moderate income over a risky and sporadic one no matter how great (though they still buy lottery tickets).
This helps explain #18 as well as #4 :)
- codexon 17y agoSo are you saying that running a startup is like playing the lottery?
- tpyo 17y agoP(winning the lottery) * winnings - (cost to play) < 0 I think this is false with startups, but the chances of succeeding are still low.
- JoeAltmaier 17y agoActually the lottery can do better than that. The expected value of a lottery ticket can exceed the cost to play ($1) when its in its third or fourth round without a winner.