Reading 06: Wealth Creation
I think that Paul Graham's pitch about startups is a fair assessment of the impact that tech-based startups in particular have had over the job landscape in the past 20-30 years. A lot of the most successful tech companies were born out of startups. However, I believe that the average startup is far less profitable than Paul Graham would like to believe. I think that the vast, vast majority of startups fail within the initial designing and testing phase, and don't make it to full production. These are usually unseen and fairly unheard of, as most of the strife that the startup accumulates is all internal and within the first weeks or months of the idea spawning. Most of these failed startups are heavily unprofitable, and depending on the amount bought in to the startup, tend to accumulate a lot of debt. I think that applying and joining an already mildly successful startup, as Graham says, is a much better and more reliable way to get rich, as a lot of the financial burden and