| I decided to quit my full-time job in Feb and go 100% start-up. Two of the largest risks I considered before taking the plunge was career risk, and financial risk. For financial risk, I’m from Waterloo Canada, which is a relatively low-cost area. I’m doing some part-time contracting to pay off the bills just to break even. I am okay to lose out on the opportunity cost of earning more money at a full-time job. I treat that as an investment in the future cash flows of the company I’m trying to build. For career risk, I think working on a start-up can actually make you more employable and increases your future earning potential. At a start-up, you work like hell and are constantly learning. If you believe your salary should be an accurate reflection of the market value of your skills, and you work to improve those skills, then your market value should increase accordingly. Reading Nassim Taleb’s book “Antifragile”, gave me a lot of confidence. One of the central ideas from the book is to put yourself into environments where there is an asymmetrical bias for positive payoffs. I.e. you can’t get randomly unlucky and die from entrepreneurship, but you can get randomly lucky and do very good. For those of you curious, my company is https://www.hodlbot.io After I realized I was spending too much time rebalancing my portfolio, I made a trading bot. For the MVP, it uses trade-only API keys to diversify your portfolio into the top 20 cryptos by market cap on Binance. It rebalances monthly. |
Unless you, you know, get into an accident and don't have enough cash or a decent medical plan...