Is It Fair To Compare Founding A Startup To Gambling?December 31, 2012 7:54 am
“Nine out of ten people on your table will fail. If you are the one lucky person who wins, you will hit it really big. If you lose, you will not gain anything, and will probably lose all your savings. You might have to double down at times, hoping that you will be the winner. It is stressful, thrilling, and fun since you love the game”
Two activities can fit that description – founding startups, and gambling. This analogy is more widespread than we realize – that people who found startups, are really gamblers – the one big reason that is often quoted is the ‘high risk high return’ similarity. There are many other similarities one can think of – big bets need good money in the bank, identifying patterns without knowing if patterns exist at all, not knowing what is next, and many more.
Is It Fair To Compare Founding A Startup To Gambling?