Reasons To Do a Startup
On Patrick Collison’s (the co-founder and CEO of Stripe) personal site, he has a page for “Advice.” It provides some life advice for readers aged 10-20, but under the 20-30 section, he puts, “If you're 20–30: I don't know yet. I plan to think about this when I'm 35-40.” I call this the Collison Principle of Advice:
Don't give advice until enough time has passed to gain proper perspective and understanding
So on the topic of “Reasons to Start a Startup,” I defer to the experts. I have my reasons, but I’ll have to wait a few years (at least) to dispense that advice. So here are Marc Andreessen, Paul Graham, and Elad Gil’s thoughts on the topic — startup veterans who have both started companies and met and evaluated thousands of startup founders.
Good reasons to do a startup (Marc Andreessen, Why not to do a startup)
The opportunity to be in control of your own destiny
The opportunity to create something new
The chance to have an impact on the world
The ability to create your ideal culture and work with a dream team of people you get to assemble yourself.
Money
Reasons to not do a startup (Marc Andreessen, Why not to do a startup)
Emotional rollercoaster
Nothing happens unless you make it happen
“Hiring is a huge pain in the ass.”
Time commitment
It’s really easy for a startup to go sideways
Forms of desperation that motivate founders to start companies (Elad Gil, Startups are an act of desperation):
Career desperation — Allow people early or stuck in their careers to jump a few steps ahead
Financial desperation — Condense decades of salary into a shorter period
Product or mission desperation — Founders who want something to exist in the world
Desperation to do something big or important and to avoid wasted time — “make a dent in the universe.”
Revenge vs. the Arena — Founders who have something to prove
Bad reasons to avoid doing a startup (Paul Graham, Why To Not Not Start a Startup)
Too young
Too inexperienced
Not smart enough
Know nothing about business
No idea
No room for more startups
Don’t realize what you’re avoiding
Parents want you to be a doctor
A job is the default
Good reasons not to avoid doing a startup (Paul Graham, Why To Not Not Start a Startup)
Not determined enough
No cofounder
Family to support
Independently wealthy
Not ready for commitment (3-4 years minimum)
Need for structure
Fear of uncertainty