Indeed: There are lots of VCs who could make great founders, who would actually prefer to build a business than do a financial services job, but they just prefer the economic calculus of venture capital. Others, to be sure, are unwilling or incapable of building a great biz.
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Would love to hear thoughts & feedback. h/t
@BurakYngn and@david__booth for conversations on the topic.Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo
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IMO biggest major expense I struggled with early in my founder career was health insurance and it being tied to employment. I went without for years (to my detriment) in order to be a serial founder
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@julianweisser@david__booth Agree! Worse was being 24 and told I shouldn't even apply because of a pre-existing condition (shoulder dislocation). Then dislocating shoulder 2x in 1 year. It ended up being cheaper for me to fly to India to get surgery than get treated in the US
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I think another barrier is just switching cost from being an employee to being a founder. Many projects stay in passion projects phase and then die off because potential founders don’t see a practical path in terms of income + benefits (specifically ones with no safety net)
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One approach would be for VC firms to start EIR sort of programs that pays opportunity/switching cost, which can later be recouped. Currently such programs are few and only focused on second, third time founders
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A lot of this aligns with what
@join_ef is trying to do. Particularly the point on ambitious ppl. See@matthewclifford podcast this week on Invest like the BestThanks. Twitter will use this to make your timeline better. UndoUndo
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These are great thoughts! I think the tl;dr would be: “We should systematically start removing bottlenecks to starting companies.” I believe any shortage of talent to be directly correlated to either: A) process friction B) process ignorance
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Strong. Lots of things here I wish had been available to me starting my first business. Would start again if I had a reasonable wage and some safety net to bail out if both parties agreed it was time.
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startup failure will always be a badge of honour in my book, actually failure of any kind that’s noteworthy enough to get put on the resume is
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Intriguing notion. Most immigrants and overlooked founders disagree.
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