Even solo entrepreneurship isn't really "solo". Takes a village to raise a {business|baby}.
this is actually a terrible advice, although i'm glad it worked out for you!
this type of side-hustling can quickly turn into losing your startup or your job (or both)
better approach is to save some money, leave for a year and become profitable from day 1
profitability will decrease your chances of failure dramatically
This kinda feels like saying a small loan of a million dollars increases your chances dramatically.
The challenge is in getting to that point.
majority of us cannot afford to retire at home for years not making any income
"just make some money" is not good advice. It trivialises the entire problem and even worse, it's the core problem of everyone in this space. This reasoning is dismissive of their struggle and doesn't help them move towards where they need to be. There is absolutely no good reason to treat other people like that.
i'm suggesting to try to make money as soon as you can, else you'll just drown like many others
In many Western economies, the level of taxation is designed to prevent you from doing that. It would take many years to save enough money to sustain yourself for a year without changing your commitments much. So either way you are in a bad position. I mean it's possible if you don't have a family, share a flat with others so your bills are low and so on, but you may end up just as burnt living in such environment.
Same as the author we tried to get funding and mostly failed. In the end I think it is for the best as I am not a fan of the growth at all cost, I much prefer to build a smaller sustainable business if that is still possible. One thing that I wish we had is a more experienced person in the team since we burned time and money for stuff we didn't know better (small tear when I see my lawyer bill). It is a great experience otherwise, I just hope it will go somewhere.
This is great advice, also take the time to find people that are passionate about what your are doing.
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I can definitely recommend Startup School, it helped me build a lot of useful connections.
Edit: I'm not looking for actual %s, just the factors involved.
I dream to start a company where I am able to steer almost every decision and the company shares automatically reduce my ownership over X years until a kind of coop forms and most employees have enough equity as a group to control the company. Give away control to put the right incentives on hiring. Also none of this 1 year cliff vesting nonsense. If you are willing to join a startup I am willing to give you equity immediately.
It is foolish to give immediate equity to a new hire who hasn't proven themselves as a good worker and good fit.