CarpeDiem

We already have a feature complete beta, we've been working on it for 8 months while keeping the day jobs. Most of the remaining work to do before we launch is superficial, just refining the UI and "making it pretty". We have been actively seeking money, but have gotten blank stares from investors when we explain that we have kept our day jobs thus far. So, I think I am agreeing with what you're saying, thanks for the input!

Wow, thanks for all the comments!

@nickb: That Morgan Stanley report is what prompted this post. I think it is prudent to question the source, however.

@shayan: My team and I have 6 months of savings, meaning we can pay the bills for 6 months before we either need income or investment. Do you think that is long enough?

@skmurphy: This makes a lot of sense to me, there are a few anecdotal stories about 2002-2003 being a great time to have started a company. And theres that report that ~50% of pre-1999 companies are still around. Good point.

After thinking about it some more I came to several comclusions: 1. I am very unhappy at my current job. I'm young intelligent (or so I think), hard working, and I have big dreams. I am capable of doing much more with my life than this job.

2. If my startup fails, I can blame it on the economy.

3. Maybe it is a bad time, and maybe it is a mistake to start a company right now. But its a bigger mistake, even a tradgedy to be afraid of the unknown. I won't let my life be run by fear.

I'll keep the YC crowd posted about our progress ;-)