The average founder may have a good outcome, but we need to make the median under have a better outcome. How? Diversification VC firms can give upside in portfolio, or VC founders can become scouts, or they should engage in founder pooling activities. (Employees too, ideally)
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Great ideas. One issue with risk pooling is that you need a fairly select cohort for it to work. If all Thiel fellows or YC batchmates opted into it, it could work. But with ~100-200 founders in a batch it wouldn’t make them rich, it would just bound downside.
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For YC W15, there were ~100 cos Five years later Gitlab is biggest at ~$3B Let’s ASSUME power law applies & it is worth more than the rest combined Let’s also say 1% of Gitlab was divided among 100 founders So at 1bp each that’s $300k each (at most) over five years
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How many capable people haven’t seriously considered being a founder because of lack of familiarity or a supportive network? Not enough family or education networks have the mentorship capability to guide someone in that direction, as is common with law, medicine, engineering …
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Which is why we’re building
@beondeck :-) - Još 2 druga odgovora
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Would be interesting to see if founder salaries are tracking upward. If so, would confirm your thoughts; if not, would cast doubt on them, since probably the one most significant thing you could do to bring more high quality founders in is to have higher acceptable salaries.
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Both my cofounder and I are married with three kids, and had a number of VCs tell us that we needed to show our commitment by taking $0 as salary for at least a year before they would invest. M
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I agree more can be done to give people who have the inclination to start new cos a better shot. One approach is what
@GoBigtoSmall is trying to do: give people within big tech firms in Seattle the knowledge and playbook for validating their ideas and raising seed rounds -
Just seeing others around you leaving the security of a big company can be enough of a motivation to do the same. Even more important is seeing that the founders can end up in a good or better place even if the startup fails.
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I think you’re exactly right. I haven’t founded a company because my most valuable resource, time, is not well spent getting the median return. And I’m not willing to take the downside bc family etc. and this is because to date my mission and this downside risk haven’t aligned.
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That said I’m sitting on multiple billion $$ businesses. For me it’s access to mentors because what I want to do has not been done, and Boffans believe it can’t be done. But it can and will.
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Čini se da učitavanje traje već neko vrijeme.
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