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| “I don't think my probability of failure is 90%. :-)” (comment) | ||
| recommended by 2 users | 2007 | cperciva on: The Equity Equation | fundraising & equity | original thread | | ||
| cperciva on Jul 18, 2007 | on: The Equity Equation | view on HN | ||
| 2 users recommended this comment. What they said: |
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jackowayed Oct 8, 2010 | on: Can you solve it? The Greplin programming challenge | context
Wow, I strongly recommend reading this (or, better yet, the full back-and-forth leading up to it: http://news.ycombinator.com/item?id=35068 ). I wish I had discovered HN back then. |
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tlrobinson Jan 27, 2014 | on: Dear Google Recruiting... | context
humblebrag I see you're new here. Let me refer you to this classic HN thread: https://news.ycombinator.com/item?id=35068 |
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| 1. | Ask HN: Good books? | |
| recommended by 2 users | 2010 | 181 points by bherms | original thread | | ||
| 2. | “Scratch that. I've got an even better design than what I was thinking of above.” (comment) | |
| recommended by 1 user | 2011 | tzs on: Dropbox Lack of Security | original thread | | ||
I don't think my probability of failure is 90%. :-)
This isn't as naive as it sounds: If you take VC with standard liquidation preference terms, the company needs to do really well before you get anything back -- so the amount of money you need to avoid "failing" is dramatically increased.
In my case, since I don't intend to take any VC, there's a wide range between "failure" (making less money than I would have earned risk-free by working at the university for the same duration) and "success" (making enough money that I never need to work again).
Also, on a more self-serving note: I'm a heck of a lot more competent than 90% of startup founders. Or even 90% of YC-funded-startup founders for that matter -- and YC-funded startups have distinctly less than a 90% failure rate.