Interesting article - but I don't think the writer gets it.
"We should focus on minimizing the downside of losing so that startup roulette feels less risky. After all, startups shouldn't just be for rich kids who can afford to take a chance on a big idea."
If more risk averse people began starting companies - would the ratio of success to failure change? My guess is that it would. Who knows in which direction.
There's always some BS stat in these articles about the percentage of entrepreneurs that succeed. Without a definition for what a successful entrepreneur is. How is that defined?
Starting a startup is not equally risky for everyone. Some people have their own safety net (family, saved up money, etc) while others don't, making it too big of a risk to start a company.
Most entrepreneurs I know didn't take any crazy risks. They knew they'd be ok if their startup failed. Many people don't have that luxury.
Part of being an entrepreneur is resourcefulness. The idea is that if you want success bad enough, you'll find a way to save enough money to quit and give your idea a chance. That's the theory at least, I'm sure in practice a huge chunk of the population will never be in such a lucky situation.
Comments
Interesting article - but I don't think the writer gets it.
"We should focus on minimizing the downside of losing so that startup roulette feels less risky. After all, startups shouldn't just be for rich kids who can afford to take a chance on a big idea."
If more risk averse people began starting companies - would the ratio of success to failure change? My guess is that it would. Who knows in which direction.
There's always some BS stat in these articles about the percentage of entrepreneurs that succeed. Without a definition for what a successful entrepreneur is. How is that defined?
Starting a startup is not equally risky for everyone. Some people have their own safety net (family, saved up money, etc) while others don't, making it too big of a risk to start a company.
Most entrepreneurs I know didn't take any crazy risks. They knew they'd be ok if their startup failed. Many people don't have that luxury.
Part of being an entrepreneur is resourcefulness. The idea is that if you want success bad enough, you'll find a way to save enough money to quit and give your idea a chance. That's the theory at least, I'm sure in practice a huge chunk of the population will never be in such a lucky situation.