[nathan_f77]

Yeah, but not all startups are created equal. Sometimes you can spot an opportunity that is much more likely to succeed. Maybe the cofounders have already had multiple exits, they’ve raised money from some very prestigious investors, and they already have a very impressive list of customers who are paying to use the product.

That’s not anywhere close to a couple of first-time entrepreneurs working on “Facebook but on a blockchain.” But I think both of those startups are counted when people talk about the high failure rate.

The statistics are quite different if you just look at YC companies: https://www.quora.com/What-percentage-of-YC-startups-eventua...

And even better if the cofounders have a wide network, a strong track record, and an impressive product that people are already paying for.

Sure, startups are still extremely risky, including the ones with prestigious cofounders and investors. But they can also pay quite well at the same time, so it’s not like you’re working for free. A senior engineer at a well-funded startup can still earn $150-180k, plus significant stock options.

I personally enjoy the risk and excitement and much prefer to work at early-stage startups than FAANG companies, even I end up earning less. Working on my own products is even more fun.