Re:Why you should choose an ambitious startup idea
by sopooneo on Monday March 12, 2012 @04:07AM
(#3692694)
I got my current job largely by the fact that I had a failed startup on my resume.
Re:Why you should choose an ambitious startup idea
by larrys on Monday March 12, 2012 @11:52AM
(#3693977)
What type of failed startup was it? Was it a VC backed startup that failed? If so then there is definitely a halo effect in that (in the startup world). But that will only work with the 1% of the world that cares and understands the startup world. Unfortunately the traditional world (where many failed startups founders might end up) doesn't view it the same way.
It also depends on how long you spent doing the startup and the opportunity cost of doing so. It's one thing if it takes a 6 month chunk out of your life and another thing if it takes a 5 year period. And prevented you from doing something else.
Each circumstance is different of course.
Re:Why you should choose an ambitious startup idea
by sopooneo on Monday March 12, 2012 @10:47PM
(#3696761)
I spent about two years on it, but a lot of that was weening off my traditional job. The tech worked perfectly eventually, however me being a business person and learning to market was not so successful. Most definitely not VC backed. More MC backed.
You're right. And all of this is nonsense anyway. The people who encourage all this risky behavior aren't going to be there to clean up the mess when you fail and can't pay your bills. And passed up your chance to go to Harvard to do YC.
It pays for them to encourage you to take big risks and encourage big ideas. And they will pick from those risks and if 2 in 10 are a home run then they win big. They are spreading the risk over many ideas (you're only doing one idea) and they are risking other peoples money in general. (Sure they have reputation and other worries but not the same as your loss.)
My guess is, and this is only a guess, that when they evaluate an idea they don't take into account at all what will happen to the founder of the big ambitious idea when it fails. It probably doesn't even enter into the decision to fund the idea or not.
It's like encouraging a friend to go to Hollywood and follow their dream to become a star. If they succeed you have a friend who's a Hollywood star. If not no loss on your part.