Despite the Silicon Valley echo chamber, starting a company remains easily among the most risky career moves for workers. The stress of the job can easily lead to burnout or long-lasting mental health issues. Failures, despite being lauded in some corners, still too often harm a founder’s future career prospects.
But the greatest risk of building a new company is almost certainly financial. In addition to the opportunity cost of lost wages working on a startup, there is the serious burden of fueling a company’s early expenses before an accelerator or venture capitalist comes in and drops some capital. It is a common form of founder braggadocio to talk about the $20,000 credit card debt that they are carrying to see their dream come to life.
The kerfuffle over the Crunchies this week was just the latest episode of a long fight over access to entrepreneurship. So far, that war has been mostly focused on women and minorities, but there has been far less discussion about financial inequality when it comes to startup founders. Read more: http://snip.ly/aWLW
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