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A comment on Parents' income, not smarts, key to entrepreneurship. Parent comment

Re:Parents' income, not smarts, key to entrepreneurship by danenania on Thursday January 28, 2021 @01:44PM (#25946787)
It definitely makes a huge difference to have savings if you want to be an entrepreneur. But these days, a decent programmer can save up a year or more of runway and build industry connections just by working for a few years and not spending outlandishly. If the startup doesn't work out, a new cushy job is waiting for you.

So yeah, startups are risky and favor the wealthy, but let's not overstate the case. I'm in favor of basic income and I agree it would be a boon to entrepreneurship, but people with the skills to build a tech startup have already won the lottery. We're not the ones in need.

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Re:Parents' income, not smarts, key to entrepreneurship by pastage on Thursday January 28, 2021 @02:26PM (#25947570)
That means some extra years/decades off from your career, to get to the same level of security. So this is not overstating it, it just basically says if there is capital available ambitious ventures will succed at a more frequent rate.
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Re:Parents' income, not smarts, key to entrepreneurship by pipipzz on Friday January 29, 2021 @05:06AM (#25955786)
Also, getting a job after a startup failure might be easy in the US or other developed countries, but this will not be the situation in a country like India, where the supply of cheap labor far exceeds the demand and only people from elite university titles will be able to get back to a job better than their last one.
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Re:Parents' income, not smarts, key to entrepreneurship by mhh__ on Thursday January 28, 2021 @02:37PM (#25947782)
Whereabouts? I guess this might be true in the valley but in the UK for example I'd imagine you'd have to live off nowt for years to be able to do that - i.e. salaries are pretty horrific in some industries.
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Re:Parents' income, not smarts, key to entrepreneurship by advisedwang on Thursday January 28, 2021 @02:13PM (#25947342)
Realistically a startup needs more than a year or two of runway for one person. It requires several years of runway for several people, plus paying for infrastructure, legal work, marketing etc.
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