
Ask HN: People above 35, would you risk your job and start a company? - vcool07
Hi,
We&#x27;ve all heard the stories of whatsapp founders.  I wanted to know if it&#x27;s more of an exception than a rule.  Assume you have a brilliant idea and you have the capability to execute it, would you risk your day job to start your company ? Are there any examples here , above 35, who&#x27;ve started a company successfully ?<p>By successful, I mean, you earn decent enough income to live just as good or better than what you did on a day job.
======
trcollinson
I would say the simple answer is yes, of course I would risk my day job to
start a company after 35 if I had a brilliant idea and capability to execute.
I did in fact.

The follow up questions are, what are the real risks?

Some people seem to be making an assumption that there is more risk as you get
older. Risk isn't so cut and dry. Certainly you may have more risk as it
pertains to your family. By the time I was 35 I was married with kids and a
mortgage. Certainly there is more risk of changing your retirement. By the
time I was 35 I had more money going towards retirement as well as retirement
funds collected. By starting a business I was significantly risking those
things.

Some people also make the assumption that young founders make better founders.
By the time I was 35 I had worked for many companies and corporations, large
and small. I had learned quite a number of business rules for myself and I had
come up with a set of rules and patterns that worked in business. At 25 I did
not have those experiences or that knowledge at all. I thought I did, of
course, but I did not.

Over all I felt it was much less risky at 35+ to start a business and leave
the day to day. But that was for me. I also found no problem at all jumping
back into a day job if a business didn't work out. So it hardly seems like a
risk at all.

~~~
dbjacobs
This. I started my company post 35. It was much easier with less business risk
because of all the experience I had accumulated by that point. But there was
more personal risk because my kids and spouse were all dependent on my income.

~~~
xiphias
Actually I remember Sam talking in an interview about this.. older people have
much better success rates, but they are also much less known, as they don't
try to build billion dollar companies.

~~~
trcollinson
For the child comment to yours, Sam here is referring to Sam Altman.

I actually can't seem to remember this interview but it certainly rings true
for me! Again, this might be an age based difference. When I was younger I was
going to be "the next Bill Gates, but so much better, and so much more
ethical, and cooler!" I actually said pretty much exactly that. I wrote up a
plan in my very early 20's on how to become a billionaire by 30.

Post 35 years old, I wanted to start a business for entirely different
reasons. I didn't care if I was a billionaire. I didn't worry about whether my
company was in a good position to accept seed funding or venture capital. I
wasn't worried about whether it would grow to the point of being sold or go
public. I worried about profitability, sales, making the best products for my
customers, and whether my target customers were happy and my market segment
was growing.

Now, I don't want to make it sound like those other things (being in a
position to take seed funding or venture capital, going public, becoming a
billion dollar company, etc) are bad things. They aren't! My personal focus
had changed by then. That is all. Did it make me more successful? I have no
idea at all!

------
zzalpha
Ahh, the valley cult of youth.

Believe it or not, thousands of small businesses are started every year by
folks in many different age brackets. Heck, the company I work for was founded
by a 40+ year old entrepreneur.

Don't let the myth of the 20-something tech genius fool you. With age comes
wisdom and experience that many a young founder could benefit from.

As for risk, risk is something you manage, not something that happens to you.
Prepare, set a clear goal and definition for success, and be willing to cut
your losses if you hit the end of your runway.

------
graton
[https://www.entrepreneur.com/article/235357](https://www.entrepreneur.com/article/235357)

For years, people have tried to correlate an entrepreneur’s age when they
launched their startup, with the ultimate success of that startup. Many
studies have been done on the topic, including reports by the Kauffman
Foundation, Duke University and the Founder Institute, to name a few.

The collective summary of their learnings is: the average entrepreneur is 40
when they launch their startup. People over 55 are twice as likely as people
under 35 to launch a high-growth startup. The average age of a successful
startup with over $1 million in revenues was 39. Age was less of a driver to
entrepreneurial success than previous startup and industry experience.

...

~~~
solresol
And let's add the QUT CAUSEE study that looked a very large number of startups
and the factors that caused them either to succeed or fail.

The optimal age for the founder was around 42.

------
toodlebunions
I know quite a few people who started companies successfully that were far
older than 35. The idea that entrepreneurship is only for the youth is a
Silicon Valley fantasy.

Save up a financial cushion and go for it, at any age.

------
jrs235
I'm 36. I submitted my resignation a few weeks ago, to start a company.
Yesterday my current employer and I officially came to terms on allowing me to
switch to hourly to allow them more transitional time and for me to work on
ramping up getting things going. I'm a bit torn on this. Part of me feels I
should just cut the cord and be completely committed but at the same time I
think the arrangement allows a win-win for all parties involved.

I hope to be an example that you are looking for.

------
NaOH
I was a good handful of years past 35 when I launched my own business (in a
non-tech industry). Certainly, working every day is less burdensome for me
than for others who may have significant commitments, like a spouse or
children. In my four years, during which I’ve had about 30 days off from going
to work, I haven’t for a moment regretted my decision. And I should add that I
don’t know if pre-35 I had enough experience to be as successful as I’ve been.

But I don’t believe my experience as described here necessarily says much for
anyone else. The viability of a business is often easy to determine. I think
the important considerations depend on the person making the choice. In simple
terms, the key questions are about what someone values and what someone is
willing to give up.

I enjoy working on my feet, making things with my hands, having relationships
with my customers and coming through for them reliably and in ways they don’t
expect. I take pleasure in the challenges that confront me (and the ensuing
education from those challenges), I appreciate trying to teach and get more
out of the (as of yet) one employee I have.

For all those positives and others, I’m comfortable going to work every day,
I’m not bothered by the physical toll, and I am decent at brushing off the
customer behaviors which can be infuriating. No, I can’t have the same social
schedule as all of my friends, but I do see my local friends regularly and
remain in good contact with those who aren’t nearby. My work definitely makes
intimate relationships more difficult, but the ones I’ve had during this
business didn’t fail because of my schedule but for other reasons.

At least in US culture, I think our careers are typically a form of self-
discovery. __* That’s not to suggest anything negative about anyone who
doesn’t launch a business. But our work gives us good feedback on ourselves
and our place in our world. In that framework, some of us are comfortable
starting a business and some of us are not.

 __*I would have said any of the above a while back, but I also recently
started reading the Studs Terkel book Working. It’s a collection of interviews
with people about their jobs and how they feel about their jobs. From people
in well-respected positions to those in positions often looked down upon, the
themes shared about the value people derive from their work are illuminating
and inspiring.

Book: [https://www.amazon.com/Working-People-Talk-About-
What/dp/156...](https://www.amazon.com/Working-People-Talk-About-
What/dp/1565843428)

Some Audio Interviews: [http://www.radiodiaries.org/the-working-
tapes](http://www.radiodiaries.org/the-working-tapes)

------
sfilargi
> Assume you have a brilliant idea and you have the capability to execute it,
> would you risk your day job to start your company ?

Almost 40 here. I would definitely risk it, but on the other hand I don't have
any kids or other responsibilities.

But I wouldn't quit my day job until I had a working produce and saw potential
and good feedback.

~~~
psyc
Same here. 40, no family. It's very difficult for me to relate to the idea of
being afraid to risk a day job. I leave jobs as often as possible to do what I
want to.

------
DamonHD
I have had a few bites at the start-up cherry; the first at about 18, the
latest at about 45. Nothing has failed spectacularly (I'm still using the
company I started at 18), and the previous one now has a decent turnover
(~US$15m/y).

I think that I have a better chance of paying attention to more of the
important things with the current one, and letting go of the ego a bit more.
We'll see!

I've only been someone else's employee for about 2 years out of my working
life of about 30 years. What is this "risk" you speak of? B^>

Rgds

Damon

------
orsenthil
Yes, anytime. I have done that when 20, 26. Now I gain strength, experience,
and maturity from a beautiful wife, a wonderful son. We are expecting our next
son soon in 6 months. My parents come and stay with us too. It's a big family
for me. And, I will risk my job and start a company, because my family and my
work are totally different things for me. I can afford to fail in one and try
again, and again. I will prefer not to fail in another and instead draw
strength from it. In more tactical terms, as an individual, you will have to
become better at planning, prioritizing and ignoring it non-essential things
when you are 35 and have a family.

------
santa_boy
I heard a video from Vivek Wadhwa that empirical studies show that majority of
entrepreneurs are above 35. I cannot find that video but here is an article
that can put your question in perspective. It is old but I'm biased to think
that empirical studies won't be any different now (likely more supportive).

[The Truth About Entrepreneurs: Twice As Many Are Over 50 As Are Under 25 |
PBS NewsHour]([http://www.pbs.org/newshour/rundown/the-truth-about-
entrepre...](http://www.pbs.org/newshour/rundown/the-truth-about-
entrepreneurs-twice-as-many-are-over-50-than-under-25/))

------
analognoise
Only if I truly wasn't worried about succeeding, had an excellent plan and
timeline, and enough money to reverse course if necessary.

The mortgage isn't going to pay itself with my dreams.

~~~
sanderjd
I've always been curious about this. I don't have a mortgage yet, but people
always refer to it as a hindrance. But what confuses me is that rent doesn't
pay itself either. Why is a mortgage more of a hindrance than rent?

~~~
analognoise
It isn't really the mortgage, it's having a place that's yours for your family
- if we were renting, it would be as paramount to pay the rent.

The disadvantage of a mortgage is that you generally have a longer term
investment, which makes you less mobile - although the truth is you have more
assets and it's a liquidity problem (you'd have to sell your house to get
anything out of it). The risk there is that you'd have to sell in a down
market if something bad happens to your job (or you, if you're the
breadwinner).

There are other breaks you get - tax and otherwise. I never realized how
rigged the system was until I bought a house.

For example, if you're a homeowner, you get a massive break on car insurance.
The interest is tax deductible on your mortgage. You learn a little about
money, and pretty soon you're negotiating harder for better deals - you become
the ultimate ballbuster. You...Are...Dad.

YMMV.

------
scarface74
I'm in my 40s and would only risk starting my own business if I knew my spouse
had good insurance, I have enough savings to live off of until my business
started generating income, and any money I invested in it wouldn't endanger my
current or future well being

As far as risking my day job, that wouldn't concern me too much in today's
economy. It's never in 20+ years taken me more than a 2-4 weeks to find a job.
Once I saw the writing on the wall for my business and saw that I only had a
month's saving left, I would shut down my business ad find another job. I
wouldn't sign a long term lease for property until I saw the business was
sustainable.

On the other hand, seeing how much headroom I still have in corporate America,
the idea would have to be a great one for me not to just be a corporate drone.

------
gamechangr
Easiest question ever....."you have a brilliant idea and you have the
capability to execute it".

That's the secret sauce that's super hard to get right. I think most people
who FELT CONFIDENT they had a brilliant idea and FELT CONFIDENT the could
execute it -- would quit very quickly

~~~
vcool07
I meant : you 'THINK' you have a brilliant idea and you 'THINK' you have the
capability to execute it. But why do you say they would quit very quickly when
they are so confident ? Can you elaborate ?

~~~
andrewchambers
Because its hard any many people don't have the dedication.

------
kapauldo
I am 47 and did this 10 years ago. I recommend doing both for a while. Get
paying customers, build an mvp. Don't quit out of excitement, slow down and
plan. Quitting or staying is a false choice. Some day it may not be but today
it likely is.

------
gervase
I think the main difference is that the more experience (and age, if
correlated) you have, the more accurately you can judge whether or not (A) an
idea is brilliant, and (B) whether you have, or can hire for, the skills to
execute it successfully.

I actually think of them as 3 separate things, not 2.

\- Some people have lots of ideas, many of them terrible.

\- Some people have the ability to evaluate whether an idea is good or not.

\- Some people have the abilities to execute ideas, good or bad.

People can have [0,3] of these, but #2 is the rarest in my experience. And if
you do have all 3, go do whatever you want, because we'll probably end up
reading about you in the news soon enough.

~~~
AstralStorm
All three do not matter if you do not have or are able to get sufficient
funds.

~~~
owebmaster
It is common to use all three to develop some product only with tme time and a
computer. At least enough to earn a good amount of money.

~~~
AstralStorm
And during that time you using whose funds? And how long you develop your
thing alone?

I really haven't heard any story of a really successful self made man in a
long time. Small companies, sometimes. (especially those that got acquired)
Single person? Nah.

------
twobyfour
Absolutely. The difference now is that I'm less naive about what constitutes a
good idea and what it would take to succeed. I'm better able to gauge the
level of risk and the expected value of the likely outcome. That in turn makes
me far less likely to jump at any particular idea. But I'd still quit in a
heartbeat if the right opportunity came along.

------
Huhty
No difference between 20 and 35. You only live once.

------
eappleby
Personally, I feel the most undervalued skill to being a successful
entrepreneur is being comfortable with a low personal burn rate. If you can
navigate that, starting a company at 35 is actually an ideal time, since you
have savings, potentially a significant other to support and provide health
insurance, and business contacts.

------
craigvn
I don't think it is really a factor of age, although age will possibly give
you more experiences that make you wary. I think it is more that people > 35
often have mortgages, family, children etc. While you might be happy living on
noodles for a year forcing that onto your kids is not fair.

------
rdiddly
Knowing what I know now, I think by the time you're 35 if you work in tech you
should have enough saved to not need a day job at all. Most people will find
this outrageous though, since they're used to wasting money and nobody teaches
you how to manage it.

------
sidlls
I wouldn't risk my day job, but I'd definitely attempt to launch a business
were I able to as the outcome of a side-project. I'm about 40 years old, have
a wife, and two kids (one in school, the other not yet).

------
carsongross
I did it at 36, but only because my wife is a doc and the marginal tax rates
made W2 wages pointless.

If I were the sole provider for our family, nfw. There is too much out of your
control, even if you are competent and have a good idea.

------
hitthefan
A lot of successful founders actually started their company in their mid-30s.
I think SV glorifies the kid prodigy who drops out of school to become a
billionaire... I say do it! :)

------
5_minutes
It really depends on your savings, mortgage, kids and what your spouse makes.
That said, I don't think age has anything to do with it and maturity has many
advantages too.

------
sauronlord
I just did.

Simply incorporated myself and started earning 250k USD as a contractor.

It seems more risky to me to spend your most precious years in some awful open
office shit hole.

------
kayman
I see more risk in not trying to.

------
michaelhoney
I started a company at 36. That was eleven years ago. It worked out fine.

------
uieefx
Job? Yes. Career? No.

Starting a business can be great for your career!

------
chasers
Do it!!

------
jgamman
no #$@%^$ way - i have people i love more than life itself depending on me
(which includes _being_ there). cleared my mortgage and can treat it as a
sabbatical? sure, why not.

