What kind of man would live a life without daring?
I am in extreme pain
Am I dumb for wanting to leave a 300k a year job?
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Stay with your job but test waters with your idea - solidify the idea snd see whether you get traction attracting resources for the idea: funding, co-foubders, initial prototype for the product/service, and so on. In short, do some actual feasibility study. Once you’re confident, quit your job and start your business.
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Its a Catch-22--you are where you are because atleast working with a small group of academics you must have done well in research, and at the same time, you are bored and frustrated. The skillset you have might have little value in a corporation, given quant PhDs from Physics and Math will eat any econbros lunch.
Starting a company is a whole new ball game, and only those who succeed live to tell their story. Why don't you go to pitching events and see what response you get. Many times getting validation from the investment company will give you some idea on whether you should quit.
I could relate that with your personality if you stay in academia you will do research, even if it frustrates you. Trust me--I have started two tech firms, did okay with exit in one--the prospect of starting a business is a lot rosier than it is.
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OP if its any comfort, we have recent research showing that most successful entrepreneurs are in their 40-50s, and probability of success and growth is rising in founder age.
Now that's just correlation, and many of these entrepreneurs tried before and failed. But it does seem to be the case that building up expertise in an industry helps the eventual success of a startup.
It isn't true for the very largest firms, they really are started by young go-getters who want to change the world. But if that isn't you, and you just want to found something that lasts, it's okay to have financial security before you try it.
Of course, if your idea is time sensitive (i.e. new techniques in ML), then you probably want to get going.
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Ljl
OP if its any comfort, we have recent research showing that most successful entrepreneurs are in their 40-50s, and probability of success and growth is rising in founder age.
Now that's just correlation, and many of these entrepreneurs tried before and failed. But it does seem to be the case that building up expertise in an industry helps the eventual success of a startup.
It isn't true for the very largest firms, they really are started by young go-getters who want to change the world. But if that isn't you, and you just want to found something that lasts, it's okay to have financial security before you try it.
Of course, if your idea is time sensitive (i.e. new techniques in ML), then you probably want to get going. -
Basically, I want to start a company. Its kind of dumb because if I just stay where I am and invest, then I would probably end up very well off in the long run. But I have this thing in the back of my mind that life is short and is quickly ending, even at the age of 30. What would you guys do?
Go for it!!! Why are you on Earth?? I am preparing the same move. In one year.
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Basically, I want to start a company. Its kind of dumb because if I just stay where I am and invest, then I would probably end up very well off in the long run. But I have this thing in the back of my mind that life is short and is quickly ending, even at the age of 30. What would you guys do?
Depends what you want to do. Share your company idea so we can better help you.
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Life is short, and you'll be old before you know it. Do it. You can always come back to a similar job.
Basically, I want to start a company. Its kind of dumb because if I just stay where I am and invest, then I would probably end up very well off in the long run. But I have this thing in the back of my mind that life is short and is quickly ending, even at the age of 30. What would you guys do?
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I'd ride it out for 5-10 years. Do research on your idea, how to get funding, etc. Right now the economy is too fragile/vulnerable, unless your company is COVID-related.
But then I will be 40 and married.
I'm confused. Why is marriage a barrier to owning a company?
Kids and wife need your $$$, cant take on that kind of risk
Not if you have made $3 million in the bank and can live comfortably off interest if business idea fails