A young founder can decide to eat ramen, dress simply, curtail extras in life, have roommates. A good parent has too much to risk to disappear from normal routine for a few years to “follow a dream”.
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Replying to @jbaksht @AmandaMGoetz
Correct. A good parent has too much to risk (they think). That’s my point. They’re unwilling to be bold and take a risk. But some other good parents will be willing. And that person is bold.
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Replying to @theSamParr @AmandaMGoetz
Maybe — sometimes bold is ruthlessly selfish or naive. Depends on the situation.
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Replying to @theSamParr @AmandaMGoetz
I have started (and mostly failed) as an entrepreneur and it stretched my wife & son. They see your strain and feel your success or failure. We have safety nets and I rebooted my career, but I have scars. I consider myself lucky. Most high growth startups fail. It’s just math.
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Replying to @jbaksht @AmandaMGoetz
I’m not talking about high growth startups. I’m talking anyone willing to start a business.
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Replying to @theSamParr @AmandaMGoetz
Any business better have a sharpe ratio worth pursuing (risk reward optimized). If it is a “passion” or low scale business it probably is not worth it.
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Replying to @jbaksht @AmandaMGoetz
I do not agree. So many smallish business out there that took 20 years to make. My immigrant in laws have a moving business that provides an AMAZING living. It’s not high growth and not scaling.
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Replying to @theSamParr @AmandaMGoetz
Depends on what they gave up. I was a kid free Vice President at Citigroup IB that wanted to do FinTech. Sometimes I regret leaving a very prestigious high paid profession to roll the dice. If you don’t have much to lose the decision is easier.
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Though I’d likely own a small business that pays me 75% of a VP at a bank.
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Replying to @theSamParr @AmandaMGoetz
Maybe but as I know from my father’s businesses unexpected risks are hard to hedge (currency impacts from trading partners, interest rate changes, theft, lawsuits, etc). Again — risk / reward. Being an employee at a corporation offers severance cushion and more visibility.
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Replying to @jbaksht @AmandaMGoetz
I agree. Which brings us back to the original tweet: taking a risk means you have privledge. I say nonsense. Maybe u do maybe u dont. But if you don’t do it, it’s because you’re not bold. And your idea is that even if u are bold, maybe still don’t. I also agree.
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