VC Backed Founder || Insider Tips for 0 to 1 Startup Growth || Caregiving Futurist || Medical Needs Mom Pursuing Joy
I'm seeing the tech ecosystem anew in this new post-startup life. I have less to prove so I can digest realities that I didn't want to see before. One of them is the taboo truth that some founders have more generational wealth to fall back on than others. Don't get me wrong: there is NOTHING wrong with having money. Generational wealth is not a bad thing. What I'm saying is that founders' risk calculations differ. It's riskier for a founder who does't have a backup plan to go with sub-$50K salary for 3 years than for founders who have a rough calculation of what money they might inherit. It's important to point out the vast difference in finances because the narrative says that anyone who isn't a white man has the same starting line. That's simply not true. I know white men who don't stand to inherit anything. And I know atypical founders who have mortgages paid by a family member. The starting line is different. And sometimes that starting line has an impact on the finish line (including very many other factors).
When I transitioned my DevShop from custom development to product we fell into the startup ecosystem rabbit hole hard. It became evident that if we were going to accomplish what we set out to do (build startups fast) that we were going to have to create something that leveled the playing field. We found out fast that many founders were in need so we decided to make it a thing, spin up a brand, raise a round, and vertically automate the startup stack. Now with close to 200 beta platforms waiting to build on our stack, all WOM, I'd say we're well on our way.
Great insight. Not just inherit but already have access to a trust fund or as you say are being currently supported in some way. If you're wondering how someone is afloat seemingly effortlessly, it definitely maybe a buoyancy aid so to speak.
Well put, Sehreen. Which is why the stakes are also different for founders on which deals they can (or can't) walk away from as well as overall risk appetite.
Agree that not having the same starting line has an impact on the finish line. The struggle to make it to the same finish line is BIG. But, I think it also makes the effort more worthwhile. What is life if there is no struggle? Those stories makes life more interesting.
This is such a great post on starting/finishing lines. And also broadens the topic of diversity to critical factors other than race or gender.
So wise. Starting on third base is an under-appreciated asset. Sehreen, you are a national treasure.
So true. Thank you for talking about this.
Yes, so glad you're starting this public conversation, Sehreen Noor Ali
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Founder | Start-up Advisor | Health and Human Services | Patient Experience | Health Analytics and BI | Digital Transformation | Cloud Migration & App. Modernization | Operating Model Transformation | Product Management
1moAgree that not having the same starting line has an impact on the finish line. The struggle to make it to the same finish line is BIG. But, I think it also makes the effort more worthwhile. What is life if there is no struggle? Those stories makes life more interesting. In my eyes, the one who struggled gains total respect.🙌🏾