Unpopular opinion, but I think a lot of people are chasing startups for the wrong reason.
If your goal is to get rich, a tech startup is honestly one of the worst bets you can make. Most fail, the ones that don’t fail take YEARS, and even “successful” founders often end up with less than people imagine after dilution, taxes, and time.
People focus on the like 0.01% rare outliers (huge exits) and ignore the base rate.
Something like 99% of tech startups fail. And the few that make money, usually don't make eye watering amounts of money. Like the founder MAYBE breaks $100K annual income.
People have it in their head that this magical group of successful tech startup founders are pulling in 7 figures annually.
Most rich people pretty much took one of these 2 paths (outside of like inheriting the money):
- High income job + smart investing
- Owning a boring, profitable business. Laundromat, Roofing, Franchises (McDonald's etc), Landscaping, HVAC, etc.
Most rich people are not "doctors" or "lawyers" or the founder of some "AI b2b SaaS". They are like the gas station owner, or the owner of the local roofing repair business. People pay/hire for stuff they don't wanna do themselves.
Curious if people here agree or if I’m missing something.