My current thinking on it goes something like this:
Startup success in my view is based on something like 70% luck, 20% skill, and 10% resources.
This means that even assuming you have the best network, most money, and ultimate skill, 7 out of 10 startups you create will fail.
Because luck is the most important factor in a startup, it makes sense to maximize your opportunities to get lucky. It’s better to start earlier with less skill, and have the opportunity to spin the wheel more times, than it is to wait to get more experience or go to college and get skills.
This view also suggests that it might be better to be trying 2-3 ventures at once, as long as the dillution of effort is offset by the opportunity to spin the wheel.
My current thinking on it goes something like this:
Startup success in my view is based on something like 70% luck, 20% skill, and 10% resources.
This means that even assuming you have the best network, most money, and ultimate skill, 7 out of 10 startups you create will fail.
Because luck is the most important factor in a startup, it makes sense to maximize your opportunities to get lucky. It’s better to start earlier with less skill, and have the opportunity to spin the wheel more times, than it is to wait to get more experience or go to college and get skills.
This view also suggests that it might be better to be trying 2-3 ventures at once, as long as the dillution of effort is offset by the opportunity to spin the wheel.