HACKER Q&A
📣 hubraumhugo

Why does everyone wants to be an entrepreneur?


Applications for new businesses rose 20 percent last year, YC applications more than doubled, and business schools report increased interest in entrepreneurship [0]. It looks like people are starting their businesses because the pandemic made them think that now is the right time to do it.

As a founder myself, I'm glad to see the soaring interest in entrepreneurship. But statistically, the majority of them will fail. An economic downturn could further accelerate this.

Why do you think so many people are currently starting businesses in spite of this high failure rate?

[0] https://www.wired.com/story/everyone-wants-be-entrepreneur/

  👤 v1l Accepted Answer ✓
Starting anything is easy, it's the making something that's wanted and making it work successfully and profitably that's exceedingly hard. Most don't realize this until they've been punched in the face by the real world of startups (as yours truly has been).

Becoming your own boss is probably the worst reason to pursue entrepreneurship imho. Having a manager is wayyy easier, even if that means you have less control and autonomy.

But by all means, try...

👤 jimmyvalmer
For the same reason everyone thinks they're above-average drivers.

For my own part, I suck at politics so I knew I couldn't climb the ladder. Joke's on me because politics is even more important in starting your own thing.

👤 marceloabsousa
Since software developers (and then engineering managers) get outrageous salaries it has been easier for some of them to save up substantial amounts of money that allows them to try and build something from scratch.
👤 verdverm
Entrepreneurship is freedom, sort of. I think a lot of people reevaluated their career and life during the pandemic and are deciding to do something different, more than this is the right time. There's also a lot of capital going around with the money printers going brrrrr.

People should always give it a shot if they understand the inherent risks. They'll likely regret not trying more than failing.

👤 glanzwulf
I would say entrepreneurship is the new "American Dream".

It's the allure of being your own boss and having your own business. Some people are tired of answering to the CEO when they "easily" could be the CEO.

👤 aristofun
People have just fed up with meaningless corporate jobs.
👤 SashaSirotkin
The barriers of entry are sufficiently low nowadays that starting a business is feasible for a lot more people. It takes less upfront capital (or skill with all the no-code options) than it has ever before to do so.

Plus, a major barrier to starting anything new is the inertia that your daily life already has. It's easiest to try bold new things when you're in a state of transition. The pandemic forced that transition involuntarily on a lot of people.

👤 faangiq
The barrier to entry got much lower over the past 20 years. And the corporate climate got a lot worse. Poor pay for slave jobs. All part of the plan.
👤 AnimalMuppet
From the outside, people see the payoff. They don't see the risk or the work. (At least, that's my guess.)