Bad advice from Evernote cofounder

[ShadowX]

While I agree money should not be your only motive, he is encouraging slowlane activity. Then grabs a stat 99% or 95% of companies fail according to him lol. And somewhere he says "Why not get a job, become a banker or something".

Watch the first part of the video, what do you think?

 

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[JulianCarax]

While I don't necessarily agree about his statistics, I think he has some fair points for starting a traditional startup in the US. If you're doing it because of the power of being a CEO, you definitely should work on your self-confidence instead of founding a business. But I disagree with his statement of having more bosses and his negative view of flexibility as an entrepreneur. That is totally dependent on what kind of business you are going to be working on (I think most of the businesses started by forum members were not funded by vc money).

To me, going for the fastlane is all about working smart and not hard, while most of the high paying jobs (investment banker, big firm lawyer, doctor) is all about working those dreaded hours and having a lot of face-time. There are some great threads on here about outsourcing your work and automating it instead of hiring people locally and having to deal with interpersonal issues. If you want to build a billion dollar business, then you have to work day and night and the stress will be unbelievable. But if you want to build a lifestyle business and freedom is prioritized above squeezing out the last buck, then being an entrepreneur is great for people who do not like the dreadful aspects of living the 9-5 cubicle life. It's about chosing your own destiny.

I still think that for most of the population being an entrepreneur sucks because they either love their jobs or are just followers instead of leaders (which is not a bad thing).


Btw., Dustin Moskovitz of Facebook talks about a lot of the same aspects raised by Phil Libin; watch the second part of this lecture: http://startupclass.samaltman.com/courses/lec01/

 

[100k]

Most millionaires are present or ex-business owners.

His BS is debunked.

The end.

 

[Mineralogic]

Most millionaires are present or ex-business owners.

His BS is debunked.

The end.

Did this guy build the company from the ground up and have a long process or was ton of money thrown at him from some vc firm in SV ?

 

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[Delmania]

Did this guy build the company from the ground up and have a long process or was ton of money thrown at him from some vc firm in SV ?

They launched in 2008, but apparently didn't participate in any funding rounds until 2010. Furthermore, Evernote seems to be having troubles.