[aaron-lebo]

Why is it like that, though?

If you are single you can live pretty damn well on 40 to 50k (depending on where you are). If you are in a committed relationship with no kids, things get cheaper with scale (food, living expenses, etc). To make 40k a year isn't that difficult when the going rate is a lot higher for a full time job. You scrap together some part time work and then you are able to support yourself and have lots of free time to work on your side project.

Granted, that's not possible for all startups or for all individuals, but it doesn't have to be homeless or success.

[SpaceManNabs]

That is true, but not everybody has those conditions. Some people have other demands. For example, I would not be able to start a start up for a while even as a recent grad software engineer at a fortune 50 company because:

1. I have to support my mom and siblings every once in a while

2. Am saving up for grad school expenses (even with funding of tuition and such through grants and such, my mother would not be able to support me for the other misc expenses)

3. I can't do part time work as I heavily am depending on the medical insurance my employer provides (nothing life threatening, but I am using all the preventive care now that I never had access to before)

4. Am saving up for a lot of expenses such as cars and such that I will need as I am starting as an adult

But yes, in an ideal world, 50k can get you good. I don't have kids, but it would not be easy for me, and a part time job would not be enough! There is some merit in the constraint of initial conditions.

Edit: And it is not like I don't have drive. I read papers from astrophysical journals and ML journals all the time, and try to include those ideas in side projects. And I have an idea for a startup once I am more comfortable in my later 20s (after grad school).

[wskinner]

Why do you feel entitled to start a startup?

Everything you mentioned aside from your medical expenses is a choice. If you choose to prioritize things that prevent you from starting a startup, then you are choosing not to start a startup.

[SpaceManNabs]

I don't feel entitled. I understood the nature of the discussion as to what barriers there could be.

And in lots of America, not having a car is not a choice. And, supporting my family is also not a choice.

I could see the grad school stuff as a choice. I also see it as a safe guard against automating away my job because I obtain a higher skill set.

[vabmit]

Well, side projects are different. I wouldn't really call them start-ups. I'm talking about a VC funded start-up or a start-up whose goal is to eventually be VC funded. You have to be all-in on that kind of thing or you will not be successful. That is so much the case that it is actually written into the Terms Sheet (funding contract). Usually, it says something like "100% of professional/employment activities".

It's not as important to be in SFBA as it used to be. But, it is still a major factor in success. I consulted for a start-up that had to move there despite not wanting to just because the potential employment pool was so poor in my area (Boston). In SFBA, $40K/yr to $50K/yr is probably not enough to cover just rent, taxes, and utilities. You still need to worry about food, transportation, health insurance, etc. And, you'd have to convince other people to join your "start-up" that was only a part time hobby for you. Attracting the first employees is one of the hardest parts because that is when your ability to cover their paychecks is most uncertain. I imagine it would be very hard to do if they see you're not all-in and absolutely convinced the company was going to be successful. And, who the first employees wind up being is one of the most risky parts... hire the wrong people and you're done.

I know a lot more people that founded a start-up and did not do well than I know people that did. The stories about the failures are usually not that bad (but some are terrible). A joke among that circle of friends and I is that a start-up is basically a really really expensive job application to a more successful start-up that someone else pays for.

I encourage people to apply to YC. Because, I believe entrepreneurship is good and the people I know that did well did very well. But, be honest with yourself - Do you have wealthy parents/a wealthy spouse/close friend? Will they support you while you get back on your feet? If so, for how long? That's a discussion you can have with them and get a verbal commitment before you just go for it.

I had a good long-time friend, that I was supportive of, start a start-up and fail. He wound up sleeping on my couch for an extended period of time. We're around the same age... I have health insurance, a pretty fat 401K and IRA, a vested pension, an emergency fund, and a lot of seniority at my job. He does not have those things.

As you get older, the choices you make now will look like they were very very different choices. Don't romanticize them- really think them through.