Why do you need investment? If you can build it on your own and there is a real niche with people willing to pay money for what you build then you can make a lot of money as an individual.
Suppose that I have an idea for a widget which market research indicates could sell for $20/, but probably not $50/.
I can hit the $50/ target with small contract runs, which would cost about as much as a down payment on a house.
Or I can make it in volume for less than $10/, but I need a large minimum order, space, equipment, logistics. Now we're looking at 7-8 figures.
If you aren't independently wealthy, neither option is really feasible, and the former option will almost certainly end in tears if you try to stretch and bootstrap with your own money.
I wasn't thinking of this from the perspective of a hardware startup but a software startup which doesn't require either of those things. I should qualify my original post with that. You don't need to be independently wealthy to launch a software business on your own provided you have the ability to build it yourself.
Even if you can build it all by yourself, for most people runway is limited by savings. And that means that with a few exceptions, it's hard to stretch beyond a couple of months (or maybe one-two years) before you need to think about shutting down.
If you can get to profit before that, awesome, your business might be a good idea. (You'll still have depleted a good chunk of your savings, and it's not like the world comes with profit guarantees)
Investment buys runway, opex, and scale. Some businesses need that, some don't. Software work reduces the opex load (for many attempts), but scale and runway might still be necessary.
Either way, the risk you can take without VC is limited by your wealth. Large bets without VC require independent wealth. We can quibble about what amount constitutes "independent wealth", but the fact doesn't change - VC allows you to dream bigger. (And I say that as a fierce critic of VC culture, but that is the upside of it)
I don't think it's particularly in touch to dismiss someone who works 50 hours a week to make an income and then Works another 50 hours a week on a startup that spends that income
If your trust fund pays for rent and living expenses in San Francisco, and you don't even think of it as abnormal that your ENTIRE INCOME can be allocated to business bets, then yes -- you are indeed wildly out of touch.
Are there people who just do not need any of those things? Maybe, but I would question it. (Too often what you think you need could be different from what you actually need.) Personally, even as someone who enjoys software engineering and would do it as a hobby, I think I would be quite miserable.
Here is what I think is reasonable: Someone would have an idea that is attractive for YC et al., raise money, and be able to comfortably afford all those things while working on a company. That is, I think, the promise of the leading quote in TFA. Unfortunately, the quote is phrased as if they are out there to help people start companies, while in reality it is about starting businesses with specific potential for explosive growth that are attractive to VC.
They are out there to help people start companies, just not all people and ideas in equal measure.
Yes. That would have described me very well at one point in my life. Coincidentally, it was at the time I was running my first (unsuccessful) business.
If it was just work, do you now think it was a good idea to ignore everything in life except work?
I.e., you thought you didn’t need those things and you actually didn’t need those things, vs. you needed them but you thought you didn’t and it caught up with you eventually.
I was just fine.
Yes, people do. It carries potentially huge personal costs, but if people are passionate enough, they absolutely will risk that. (Mind, I'm not saying this is a good idea, at all, but merely that it happens)
At least in the cases I did, it was usually a 9 month gruelling sprint at the end of a ~2.5-3.5 year project. Followed by people lollygagging about for ~3 months before they could do any reasonable work again. We sure got a lot of Age of Empires in during that time, though ;)
I've worked hundred hour weeks and also supervised crews of Hispanic Americans that will work 100 hour weeks.
On the other end of the spectrum, I've known m&a lawyers that do the same to close deals at the end of the fiscal year.
100 hour week is roughly 14 hour days with no weekend break. 6:00 a.m. to 8:00 p.m. is pretty common for agricultural work during harvest season for big cash crops. You start while it's dark and you end while it's dark.
Agriculture is historically seasonal: you work a lot during some times, but the rest of the time you do completely nothing on the agriculture front. Not a luxury at most modern workplaces.
The claim that a long period of rest is always necessary in-between 100 hour work weeks is simply not true.
Creative innovative mental work? In these amounts it will fuck you up.
I wouldn't be so optimistic on a few months to start generating cash tho unless it's a simple yet novel idea.
Becoming ill is a sure way to be unproductive and make bad decisions, going broke and struggling to make ends meet is not going to help you focus on getting things done, dying early is not compatible with seeing your idea to success.
"Hustling" as you call it is pretty much the only way to start a successful business exactly for the people not born into "strong safety nets" and "privilege" as you call it. If you have those you can start your business and coast.
I don't know any business owner - including myself - who didn't have to make sacrifices to his or her well being to push through. That's the thing with having a business, there will be times were you just can't relax or take a day off. You are in fierce competition with the world, and as a founder you should work at a minimum twice as hard as somebody who is hired. It can and it will lead to partial or complete burn out, but one thing that I've noticed among myself and every other business owner is that they push through and simply don't get sick when they can't be sick. After it's over and they've pushed through a project or a season, they will get sick as dogs and disappear for a couple of weeks to lay on the sofa. The overload cannot be constant, you need to have some time to recover in the foreseeable future.
The human mind has an incredible force to resist becoming ill and for those who cannot channel this, starting a business is a bad idea. Being ill is mainly the body's reaction to fight the sickness, so it's somewhat under our control.
Having a business puts incredible pressure from all sides on a person, and you can't be a person who thinks about "tapping out" as an option. Especially in situations when other people's salaries depend on you.
Then you claimed “the human mind has an incredible force to resist becoming ill”. Tell your mind that while lying in a ditch with a few broken bones after an SUV crashed into you as you were walking half asleep after working for 18 hours straight and realizing you have no insurance or even a bank account because you failed to get or hold a job in pursuit of a moonshot startup idea.
The notion that starting a business automatically requires disregarding your life and people close to you is frankly some cool-aid fueled SV fever dream that doesn’t represent reality. Those startup founders with thousands to millions of YC funding, who pay themselves enough to live comfortably (with all the healthcare, dental care, good apartment and other things that many people struggle with) in one of the world’s most expensive places, are the prime example of the opposite!
People in my situation shouldn’t go all in on some new venture unless that venture can interest the likes of YC who can provide the required safety net. Not because we are mentally unfit to do it for the wild reasons you described, but just because the circumstances aren’t right.
Running even a small business is a great way to create more value for the world, but yes, it requires some sacrifices—and if you don’t have the leeway to make those sacrifices, ruining yourself is probably the worst way to go about it.
Take it easy!
But the fact that you're posting on here while complaining that you don't have time tells me you just don't want to do it enough for it to ever be worthwhile.
I still have time to, say, occasionally exercise or have a walk or deal with life chores or get out with friends once in a while, but if I stop doing those things that would hurt my health/life and therefore my ability to work even further, as I know from experience.
As to HN, I read it mostly when I can’t sleep or in public transport.
I don’t watch or have TV.
If your goal isn't to build a kind of empire or to shoot for unimaginable riches, but instead to start a solid small business that lets you do the sort of work you enjoy and provides enough income to live in your preferred style, then it's never been easier than it is today.
All you really need is to find a niche that has a small market. How small is OK depends a lot on the specifics of a business, but if we're talking a one-person software shop, you can probably live decently with a customer base of a handful of thousands. Even less if your niche supports very high profit margins.
And, as an old mentor pointed out, if you're fishing in the pool of the entire world (which the internet allows at low cost), then you can just nail two boards together and find a thousand or two who are willing to buy it.