If you were a 22 year old that just graduated college today, what would you do with your life?
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Paul Kahneman (Thinking Fast & Slow) says that most start-ups fail and it makes more economic sense for the individual to get a job...
He asked what I'd do, not what I'd recommend the average 22 year old do. The average 22 year old should definitely get a job.
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In addition to what Paul says, that's only from a short-term earned income perspective. The added value to an individual from having run a failed startup could still be higher than the wage differential over those years. It's not so cut-and-dry. It's very dependent on the person.
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