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     2 months ago  

    Problems with Entrepreneurship Culture

    • 🚨 Most people are not good at business, with the largest demographic increase in new business owners being young people between 18 and 35, who have a significantly higher rate of failure.
    • 📊 The average age of a successful startup founder is 42 years old, and founders below 30 have a higher rate of failure, yet many are encouraged to start businesses without industry experience.
    • 🚫 Businesses in trendy fields like tech, e-commerce, hospitality, and fashion have a higher failure rate than those in finance, construction, and healthcare, where industry experience and creditations are required.
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       2 months ago  

      The Hustle Bro Problem

      • 🤑 Hustle Bros push products that make starting a business look easy, but it's not, and people are encouraged to enter the market without intention to start a business in the first place.
      • 📈 The market for business services is highly lucrative and competitive, with a projected worth of $8 trillion by 2030, and companies want to push as many people into this market as possible.
      • 🚨 This system relies on making it look appealing to start a business, even if it's not the best decision for everyone, and has been taken too far by Hustle Bros with courses to sell.
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         2 months ago  

        Starting a Business for the Wrong Reasons

        • 🤔 Starting a business comes first, and solving a problem comes second, with many people starting businesses without considering what value they are providing to their market.
        • 📊 A suspicious number of former Forbes 30 under 30 awardees have ended up in prison for fraud, highlighting the problem of young people being encouraged to start businesses without life experience.
        • 💡 Gary Tan, CEO of Y Combinator, advises working in an industry, getting paid to learn, finding a problem, and then solving it, which goes against his company's business model, but is still good advice.
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           2 months ago  

          The Consequences of Entrepreneurship Obsession

          • 🕒 Modern corporate jobs are highly demanding, and being your own boss is sold as a way to take back control of your life, but starting a business often means much less free time.
          • 📊 A survey found that the majority of small business owners work at least 50 hours a week, with 25.5% working more than 60 hours a week, and 70% working weekends regularly.
          • 🚨 The cultural obsession with entrepreneurship is used as an excuse to gloss over bad practices, with some fraudulent businesses costing investors and clients billions of dollars, and putting people's health at risk.
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