Re:An Engineer's View of Venture Capitalists (2001)
by laurent92 on Thursday November 11, 2021 @05:26PM
(#29194058)
Hard to believe car repair shops or taxi businesses can ever get started, since they need a million more things than a desktop and a chair. And yet they do, and they don’t get millionaire in the end.
So, you don’t need a quarter million dollars to start a startup. I did it with $12000 that I had saved from my previous job, spent over a year, with a little consulting nightjob.
“What about if you have 3 kids, 2 dogs, 1 swimming pool and 7 secondary flats.”
Entrepreneurship is not owed to you. What we’re owed is renewing the elites if they are doing a bad job, using companies that start and replace the existing ones. Facebook, Whatsapp, Tesla and SpaceX didn’t exist 20 years ago, and 84% billionaires are first-generation billionaires, the rest are women and got rich by inheritance or marriages. So elites are ~96% renewed at my generation.
So, you don’t need a quarter million dollars to start a startup. I did it with $12000 that I had saved from my previous job, spent over a year, with a little consulting nightjob.
“What about if you have 3 kids, 2 dogs, 1 swimming pool and 7 secondary flats.”
Entrepreneurship is not owed to you. What we’re owed is renewing the elites if they are doing a bad job, using companies that start and replace the existing ones. Facebook, Whatsapp, Tesla and SpaceX didn’t exist 20 years ago, and 84% billionaires are first-generation billionaires, the rest are women and got rich by inheritance or marriages. So elites are ~96% renewed at my generation.
Job done.