
Paul Kedrosky: Shut Up About the Age Thing - far33d
http://paul.kedrosky.com/archives/2007/06/03/shut_up_about_t.html
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bilbo0s
It is my observation that many of the young people who boast about age are
gleefully unaware of the horrible failure rate of young, (under 30),
entrepreneurs. Many point out the brilliant successes, without mentioning the
100 other young entrepreneurs that failed in the same space. The numbers bare
out the indisputable fact that older entrepreneurs will fail less often than
younger entrepreneurs. In fact the statistical variance in the success rate is
so large that wise VCs and angels actually use age in their models.

For instance, if we are advising angels who are want to dabble, but are at
heart risk averse, we do swing them over to that 38 year old guy with the new
molecular imaging startup. On the other hand when we are advising VCs and
angels that are more than just old ladies' investment clubs, we do steer them
to the kids. This should not come as a surprise to people.

It would be a mistake for young people to think that they are better suited to
creating successful startups. They are not. They are better suited to creating
MORE startups, of a decidedly lower quality. The older entrepreneur in my
illustration will show better judgment at every step of the game when compared
to a younger entrepreneur.

That includes the first step . . . choosing to create a molecular imaging
startup instead of a web 2.0 startup that anyone can copy.

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pg
The fact that you can't control something doesn't mean you shouldn't think
about it. Basketball players can't control their height, but it affects the
techniques they can use.

~~~
startupper
You missed his point. What he is saying is that age should not be a matter of
significance.

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pg
From the article: "There are many things in life you are or can be responsible
for, but the date of your birth is not one of them. When I meet someone who
makes too much of their calendar age..."

Doesn't sound to me like I'm missing his point.

40 year olds have different strengths and weaknesses from 20 year olds. Very
few people, possibly zero, can transcend that. I can't. And it's stupid not to
adjust your game to suit your strengths.

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chmike
There are two things to consider. Young people mind is still malleable and
they are generaly free or duties and in a healthy condition. They can thus
easily adapt, reconsider classic models and be totally commited to the startup
with ne reasons to fear failure.

Older people tend to have a less malleable mind. They are slower to change
direction and take decisions, but when they do, it is wiser and better thought
than young people. They have to find compromise between the various external
duties they have and can take less risk. They have less energy resources and
endurance than young people.

From this perspective, it is clear that young people are more sexy for VC,
because they are looking for innovative mercenaries ready to give their life
and health for their company.

But not beeing sexy to a VC doesn't mean the project is rotten. The success
depends on the project and the context. Beside there are many older people out
there with a 20 year old innovative mercenary spirit and there are many young
people out there with a 30 old guy's maturity.

So claiming there is a kind of use-by day for entrepreneurs doesn't indeed
make sense.

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dpapathanasiou
Interesting juxtaposition of this post (at #4 on news.yc currently) versus the
_In Silicon Valley, the Crash Seems Like Just Yesterday_ post (at #3 on
news.yc currently), because of this quote from the crash article:

 _"A lot of froth, especially if you mix in a lot of inexperienced people,
that's a bad thing."_

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sbraford
I've been thinking about this a lot lately too.

Chances are, the older you get, the average person will have lived through
more "failures" than huge mega-successes. This influences how they perceive
the world and their expected outcome.

Some 20 year-old who has never had to work for a BigCo or failed startup has
not had that experience yet. (Not sure if this is a plus or minus, probably a
plus.)

Sometimes, just sometimes, a "crotchety old-timer" who might still only be in
his late twenties, can bring something to the game that a 20 y/o might not
have at that age.

