This reminds me of the recent post linked on HN about "why it's a bad idea to write books."
One thing I think people miss is that founding a startup, or working at an early-stage startup, belongs to a class of financially irrational aspirations that includes other things like rock-star, novelist, actor, and professional athlete. For all these careers, the financial rewards are distributed according to a power law. A few superstars take a massively disproportionate share of rewards while the expected ROI is negative across all aspirants.
I stress "financial" rewards because for many of these pursuits there are intangible rewards that make it worth it even for the "losers". I spent most of my 20s playing in rock bands and legitimately trying, and failing, to "make it". During that time I had a day job, so I was working constantly either at the band or at my day job, and really not doing much else. I wouldn't trade that time in my life for anything, despite the fact that it cost me money both out-of-pocket and in opportunity cost, and only perhaps a few hundred people now remember my band. On the other hand, I had no family to support during that time, and I was willing to live a low-rent bohemian lifestyle.
Early-stage startups are probably the same: the camaraderie, the esprit-de-corps, and the joy of building things are the reward.
It's important to enter into these risky pursuits with your eyes open and understand that the most important rewards you receive won't be financial. If those intangibles aren't important to you, or if the base level of financial security you need is higher than that of a bohemian lifestyle, then you should look for something else.
One thing I think people miss is that founding a startup, or working at an early-stage startup, belongs to a class of financially irrational aspirations that includes other things like rock-star, novelist, actor, and professional athlete. For all these careers, the financial rewards are distributed according to a power law. A few superstars take a massively disproportionate share of rewards while the expected ROI is negative across all aspirants.
I stress "financial" rewards because for many of these pursuits there are intangible rewards that make it worth it even for the "losers". I spent most of my 20s playing in rock bands and legitimately trying, and failing, to "make it". During that time I had a day job, so I was working constantly either at the band or at my day job, and really not doing much else. I wouldn't trade that time in my life for anything, despite the fact that it cost me money both out-of-pocket and in opportunity cost, and only perhaps a few hundred people now remember my band. On the other hand, I had no family to support during that time, and I was willing to live a low-rent bohemian lifestyle.
Early-stage startups are probably the same: the camaraderie, the esprit-de-corps, and the joy of building things are the reward.
It's important to enter into these risky pursuits with your eyes open and understand that the most important rewards you receive won't be financial. If those intangibles aren't important to you, or if the base level of financial security you need is higher than that of a bohemian lifestyle, then you should look for something else.