The thing that I'd expand upon is the support network.
Somehow I have a wider range of friends and family than most people, and the thing that is missing from this conversation is that most people by far don't know anyone wealthy, especially if they're not themselves wealthy.
The issue with that isn't just the money and connections themselves. There's a cultural gap of "I couldn't do that, only people on TV do that" whether it's starting a startup or pursuing one of those one in a million type careers like acting or sports.
There's a risk behaviour that is also affected by background. Basically you're pushed to not take too much risk: your parents' entire productive output has gone into your education, you can't just take a chance on it.
Case in point is my family. The parents all got spread around the world as refugees back in the 1970s. Everyone worked really hard but they told their kids to go the safe route.
I have a cluster of cousins in the bay area, what do they do? None of them do startups. Doctors, nurses, and Google.
I have a cluster of cousins in the bay area, what do they do? None of them do startups. Doctors, nurses, and Google.
I wouldn't describe this as risk-averse behaviour. The simple fact is in the modern startup ecosystem, even if the startup has a successful exit, even early stage engineers will see very little wealth having been massively diluted, and would have been much, much better off having worked for an established company over the same time period. An early stage employee takes all the risk but all the reward goes to the founders and the VCs. It's not worth it.
Maybe I should have expanded upon it. When I went to visit SF with a startup, I naturally thought one of my dozen cousins in the area would know someone who did something with one of the many startups in the world's startup capital. They don't just not work in startups, they seem to not have any connections to it. Granted, I didn't do a thorough survey, but if they knew someone in a prominent firm I think they'd have told me.
Which is kinda surprising, but I guess for all the noise they make it's still a pretty small network.
Honest question: why do you think working for startup would be better for them then working for google? Why do you think a doctor would be better off or happy working for startup? Why do you assume having seeking connection to startup world is a think they miss in their lives?
On hn, there is sort of bubble of people who think that working for startup is best thing ever and everyone else is selling the soul. What if it is not true and some people really wanted to be doctors/nurses or find their job at google happy place?
I wasn't commenting on what they ought to do, it's not like I'm disappointed they didn't do a startup (lol how could I be disappointed in someone becoming a doctor when I'm the kid of refugees?) . Just commenting on the dynamics of who decides to try, and who knows who.
Keep in mind that as an immigrant you also you also only know a few traditional things a kid can do. The main thing that would get you into a startup is probably a CS degree, which what not high on the list for my aunts and uncles.
This might also be something about American society. People seem to cluster very closely with similar people. At least when I go there it seems that way.
On hn, there is sort of bubble of people who think that working for startup is best thing ever and everyone else is selling the soul.
HN, for obvious reasons, over-estimates how likely it is a startup will succeed, and over-estimates how much an early-stage employee will make on an exit, and also over-estimates how many valuable experiences an early-stage employee will be exposed to. Vastly.
Beside the fact, that being a doctor or working at Google makes you much more money on average than founding a start up, you anecdote also seems to be an anomaly: The most high profile start ups have been founded by immigrants. Even the one you have given as an example for a boring job.
Somehow I have a wider range of friends and family than most people, and the thing that is missing from this conversation is that most people by far don't know anyone wealthy, especially if they're not themselves wealthy.
The issue with that isn't just the money and connections themselves. There's a cultural gap of "I couldn't do that, only people on TV do that" whether it's starting a startup or pursuing one of those one in a million type careers like acting or sports.
There's a risk behaviour that is also affected by background. Basically you're pushed to not take too much risk: your parents' entire productive output has gone into your education, you can't just take a chance on it.
Case in point is my family. The parents all got spread around the world as refugees back in the 1970s. Everyone worked really hard but they told their kids to go the safe route.
I have a cluster of cousins in the bay area, what do they do? None of them do startups. Doctors, nurses, and Google.