Generally speaking, experience counts for something. So you'd expect entrepreneurs who've been through the ups and downs of a tech startup to have an advantage over the newcomers. Or at least have an equal chance at success. But in fact the opposite may be true. A number of venture capitalists I've spoken with have said that too many "old guard" entrepreneurs are not being bold enough in their business decisions, and it's hurting their startups.
Michael ArringtonI live a fairly simple life, and that didnt change much after I sold TechCrunch in 2010. I didnt buy a new house or even a new car. The one thing I did splurge on was a boat. Nothing too fancy or large.
Michael ArringtonThe payouts for starting a business are just terrible when you account for risk. A tiny minority of entrepreneurs ever get rich. And the majority of entrepreneurs would probably make far more money, and have more stable personal relationships, if they just worked for someone else.
Michael ArringtonI always try to find the truth in a situation. That unvarnished, pure nugget of truth at the core of every issue that I write about.
Michael Arrington