Downsides to working at a tech giant

Re:Downsides to working at a tech giant by andreilys on Monday December 23, 2019 @03:15PM (#21866932)

- another stat for you: most entrepreneurs fail "about twice" before making it, i.e. you'll probably fail 1-3 times for sure before entering the 5% of those who create a profitable business. Trick #1, thus: you can roll the dice several times (consider 2-5 years per "real try").

I've never heard of this stat. Seems like a case of survivorship bias more than anything else.

For every entrepreneur that "made it" on their third try, there are millions who had to declare bankruptcy and set their career back years because their ventures didn't work out.

[ Parent | on HN ]

Re:Downsides to working at a tech giant by stoicShell on Monday December 23, 2019 @03:23PM (#21867013)

So the exact statistic is indeed about "entrepreneurs who make it", those who eventually create a successful business, how many time did they have to try?

Average is ~3 times, and your typical successful business (across sectors) takes ~2 years in "survival mode" (most don't make it past that mark), then 3 more (~5Y total) before things may feel "sustainable", cruising.

So indeed, we are not all considering those who don't make it in this picture. Creating a business is hard, very hard.

[ Parent | on HN ]