They bet 1 million when they have 1.01 million in the bank, most big founders has almost all their wealth in the company they founded until they step down.
The kind of person who only bets 1 million when they have 15 is exactly the kind of risk averse person they don't want as a founder.
They bet 1 million when they have 1.01 million in the bank
But that’s still not that big of a loss when it doesn’t entail the loss of personal market value. A VP at Google can quit their job, bet their entire life savings on the roulette wheel, lose it all, and still not worry about starving four months later. For most people with at least $1.01M net worth (roughly 1 in 10 Americans), this is absolutely not the case.
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They bet 1 million when they have 1.01 million in the bank, most big founders has almost all their wealth in the company they founded until they step down.
The kind of person who only bets 1 million when they have 15 is exactly the kind of risk averse person they don't want as a founder.
But that’s still not that big of a loss when it doesn’t entail the loss of personal market value. A VP at Google can quit their job, bet their entire life savings on the roulette wheel, lose it all, and still not worry about starving four months later. For most people with at least $1.01M net worth (roughly 1 in 10 Americans), this is absolutely not the case.