There are millions of people in the US alone that would jump at the chance of taking a good startup job or creating a startup themselves. They don't need convincing. But startups don't want to hire them and investors don't want to fund them. Because they're poor, under-educated, and different. They also make up the majority of the smart and talented people.
It would require actual effort and understanding to work with those kinds of people. A lot more work upfront. Some of them haven't even read Homer, the plebs.
Instead, wealthy investors ignore those millions and spend their time trying to convince a handful of wealthy entitled children to temporarily forgo the easy life at Google or Accenture.
If there are "millions of people" smart and talented enough to start a successful startup, or join one early, this sounds like a spectacular business opportunity.
After all, everyone knows doing a startup is easy and riskless if you just have enough smarts and talent. Startups don't require any skill or effort beyond that. We therefore conclude that the reason there aren't millions of people involved in startups is a conspiracy of "wealthy entitled children" who hate anyone who hasn't read Homer. I remember all the in-depth quizzing I got about Homer last time I applied to a wealthy entitled child's startup.
The most successful Silicon Valley founders and investors were born into wealth, attended expensive private schools, and are connected by exclusive networks. We therefore conclude that these kind of people are simply better and more successful human beings than others. Why else would this tiny class of people so dominant an entire industry?
Startups are hard and risky, which is precisely why it's dominated by "wealthy entitled children". If a poor kid's startup fails, poor kid gets kicked out of his house and starves. If a wealthy kid's startup fails, wealthy kid doesn't get to buy his Ferrari for another year.
I have no idea how to break this vicious cycle, apart from strengthening social safety nets for the lower classes to minimize downside risk. But we know once you start providing welfare for the poor, they'll simply stop working, right?
Kickstarter and crowdfunding are a great next step. When it's not just rich old guys picking which projects get funded you get Oculus and an entire new VR industry, created by a unpedigreed outsider that no investor would have given the time of day to.
The real shift will come when crowdfunding for equity is possible. When not just rich investors will be able to benefit from the massive wealth creation of technology companies. It may be that regular people are willing and able to fund as many viable projects as exist.
Exactly: People talk about how Bill Gates dropped out of college to make a startup, but many gloss over his socioeconomic starting-point that let him "afford the risk".
I'm confused. Where was it ever implied by the parent that running a startup is "easy and riskless if you just have enough smarts and talent" and that "Startups don't require any skill or effort"?
The point, that I understood, from the parent is that the job (SV?) culture is highly homogenized and that there isn't enough outreach to skilled people who don't "fit". Did I misunderstand? If I didn't, do you not believe there's any amount of truth to this?
"Yes, the homogenized group of Americans, Europeans, Indians, Chinese, other Asian and Middle Easterners present in the valley clearly won't engage in outreach to skilled people.
Another popular meme: those greedy capitalists are constantly lobbying congress to give them permission to reach out to skilled people from around the world in order to lower wages. Better stop them, it's bad for workers!" -yummyfajitas
It's pretty clear to me that staunch isn't talking about racial homogeneity:
I am searching for a business partner for eCommerce that would do the whole business part while I will be plugging in and extending automated sales technology I created and use in my other companies, with 50/50 equity split and the initial operating capital provided by me if necessary. However, almost nobody wants to start from scratch, growing the company as their baby (despite having the benefit of immediate use of my mature technology, spending at most 1 hour a day running the business anywhere in the US and non-interfering from my side on their business style except for advices on proven business model I operate and avoiding legal problems); they expect earning $100k within the first 3 months or so with no work at all. Sometimes I feel like there is an insurmountable obstacle between their dreams and effort they put into the work to get where they want to be...
Surprised you're having issues filling this. I come from a Supply Chain and Ecommerce background. Currently VP Product for an ad tech company. Let me know if you'd like to chat. My HackerNews username @ gmail, or on Twitter.
I agree that the majority of talent remains untapped, and that's why I believe actions like Sama offering his startup class free online are huge steps in the right direction. While I don't wish to instigate an immigration debate in this thread, I do believe that the goal of equal opportunity regardless of geographical origin is extremely important as well.
Being smart and talented doesn't make a successful business, even if you add hard working too. The actual valuable part of the business is the ability to get others to give you money for what you do. It doesn't matter how that is achieved, but your worth is directly proportional to how successful at that you are.
>They don't need convincing. But startups don't want to hire them and investors don't want to fund them. Because they're poor, under-educated, and different. They also make up the majority of the smart and talented people.
This is a tragedy. Seems like a pairing between early stage startups and fresh grads may be a great thing. Lots of fresh energy from the young to feed a startup and a chance for them to learn and grow.
Some countries provide government funds for startups, maybe we fan have some of this fundijg for startuos that hire the young?
It would require actual effort and understanding to work with those kinds of people. A lot more work upfront. Some of them haven't even read Homer, the plebs.
Instead, wealthy investors ignore those millions and spend their time trying to convince a handful of wealthy entitled children to temporarily forgo the easy life at Google or Accenture.