There's a big difference in the safety net of someone who went to a high level US college, and someone who had to get a job during high school to help pay the bills.
It's a different story when you've got nothing to lose. When you've already got a successful career and a life savings it's turning into a gamble that's just not worth it. The unfortunate thing is that the world needs more mature founders, and less college grad types.
I agree. This is one of my biggest problems with the current VC system: it excludes founders that have experience and judgment. I would even posit that founders who have a family to support are more likely to want to keep the company stable than a single 20-something.
You have to wonder if there are any reasons other than lower salaries that VCs prefer to work with young, nothing-to-lose types.
it excludes founders that have experience and judgment.
Those are the ones with money.
Most of them know it, but when you are in college or newly out of it, all of your friends are suffering from low pay and financial instability too. IMHO your 20s are a very good time to do a startup because the opportunity cost is low: you're probably not going to be making a whole lot of money anyway, so your choices are guaranteed poverty or likely poverty with the chance of a huge windfall.