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by pradn
2208 days ago
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I think your 20s are actually a bad time to join a startup. Every dollar you earn in your 20s is worth more than a dollar you earn later in your life, because of compound interest. Financially, you're nearly guaranteed to make more money at a FAANMG, and you don't have to play the lottery or (generally) work crazy hours. You might learn a lot by jumping into a startup, but your chances of failing are probably higher than if you start one 20 years into your career. The average age of successful startup founders is not in the 20s. |
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Then they joined a not-gonna-happen startup (to do with optical fibers) as a CEO, investing something like $50k of their own money to get the position, later increasing their stake to $150k. If the startup is about to die this is not very hard. They had a plan to turn things around and in at least one case (out of 4-5 tries) it worked. This guy was then forced out of the CEO job, but he was certainly very well compensated for his efforts (triple digit millions).
Of course he did try that 5 times, and lost everything 4 times out of 5. Including years of work. It's not for the faint of heart.
The other one made out well as well on one of his past efforts that was taken over by a competitor for a very nice price, after which he left. He's now working on a company that I'm not really holding out much hope for.