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I have found the opposite for 'vanilla' entrepreneurs; for a few years, I was part of the Young Entrepreneurs Organization (YEO), which collected under-40 found

I have found the opposite for 'vanilla' entrepreneurs; for a few years, I was part of the Young Entrepreneurs Organization (YEO), which collected under-40 founders of businesses with over $1mm in revenue. The Boston chapter had over 100 people in it, maybe closer to 250? Of those, almost none had 'top tier' degrees. Almost none had business school degrees. In fact, for a community of fairly wealthy Bostonians, it was notable how few had come through top-tier schools or advanced degree programs of any sort. Startup entrepreneurs might be different, and I've only read the article about the paper, but I just don't see this in my own entrepreneurial experience; most entrepreneurs I have known outside of Silicon Valley were motivated hard working types; some were visionaries, some were operations geniuses, some accidentally bought out their partners or bosses and got left with a business, most were from blue collar or middle class families. Put another way, Thurston Howell doesn't start a summer painting business staffed by college students, or a recruiting business which demands 90 hour weeks for the first ten years of life; instead Frank from Gloucester does because he can't stomach the thought of working for someone else for the next 40 years.

dsfyu404ed 11y ago
I'd venture a guess that most of those entrepreneurs aren't taking large risks or going far from the beaten path with their business model. Instead they're setting out to make a living by running a successful HVAC business or restaurant. Another thing I've observed as a (soon to be former, thank f##king god) MA resident and which has not contradicted what I've observed in VT, NH ME as well as other parts of the Boston/NYC/DC urban+suburban area is that the blue collar business owners (and to a much lesser extent, their employees) directly benefit from serving a wealthy area. Wealthy people hire landscapers, plumbers and mechanics much more readily than less wealthy. The owners of businesses that serve them milk it for every penny of profit (and rightly so). Don't believe me? Look at the trucks they drive and equipment they use. If it's all on it's last legs then times are tough. With all the people with the money to pay professionals for services times are anything but tough in most of MA Anyway, my point is that if one plays their cards right, they can do very well (comparable to white collar professionals outside of tech/engineering/financial) by owning a small business. Desire to be an entrepreneur has nothing to do with it, for someone who isn't wealthy in a wealthy area more possible situations where the risk/reward makes owning/starting a business a great strategic decision.
- vessenes 11y ago
  Right, and this is precisely what entrepreneurship means in the general case. Doing a 'startup' is a different thing entirely, and has a far more bimodal outcome curve than what you or I describe. I think language is helpful, especially because younger HN readers may not know to distinguish the two, and think that advice or statistics about entrepreneurs applies to them when they are aiming at a fast-growth startup.

dsfyu404ed 11y ago

I'd venture a guess that most of those entrepreneurs aren't taking large risks or going far from the beaten path with their business model. Instead they're setting out to make a living by running a successful HVAC business or restaurant. Another thing I've observed as a (soon to be former, thank f##king god) MA resident and which has not contradicted what I've observed in VT, NH ME as well as other parts of the Boston/NYC/DC urban+suburban area is that the blue collar business owners (and to a much lesser extent, their employees) directly benefit from serving a wealthy area. Wealthy people hire landscapers, plumbers and mechanics much more readily than less wealthy. The owners of businesses that serve them milk it for every penny of profit (and rightly so). Don't believe me? Look at the trucks they drive and equipment they use. If it's all on it's last legs then times are tough. With all the people with the money to pay professionals for services times are anything but tough in most of MA Anyway, my point is that if one plays their cards right, they can do very well (comparable to white collar professionals outside of tech/engineering/financial) by owning a small business. Desire to be an entrepreneur has nothing to do with it, for someone who isn't wealthy in a wealthy area more possible situations where the risk/reward makes owning/starting a business a great strategic decision.

vessenes 11y ago
Right, and this is precisely what entrepreneurship means in the general case. Doing a 'startup' is a different thing entirely, and has a far more bimodal outcome curve than what you or I describe. I think language is helpful, especially because younger HN readers may not know to distinguish the two, and think that advice or statistics about entrepreneurs applies to them when they are aiming at a fast-growth startup.