I've criticized Mark Suster, because he's all over the map in terms of the quality of what he says (this criticism could also be made of me) but I've come to admire his honesty.
Most Americans despise "politicians". They like their representatives, but have a negative view of elected officials, because the amount of bullshit (fundraising, campaigning) one has to put up with in exchange for the returns is so immense that the assumption is that no one would do it without an ego the size of Texas. The assumption is that politicians are either monstrously egotistical, or taking something out of society (speaking fees, "consulting" options for their kids) on the side that would justify the absurdity.
"Entrepreneurshit" reminds us that VC-istan startup founding isn't much different. There are some good Founders out there, but they're basically private-sector politicians. To be frank, I agree with this assessment. One caveat: if you're rich enough to own your own time and career (instead of having to rent them from a boss) then I think the entrepreneurial path is superior in long-term expectancy, and you can afford the variance. But in that scenario, I'd probably boot-strap. Multiple liquidation preferences and participating preferred are for strivers and poors, yo.
I don't know that client-powered, "bootstrapped" companies can claim moral superiority, either. Mad Men is a good depiction of the sociology of that world. The industries have changed; people, much less. Most of those firms are had by the balls by clients (losing a big client triggers an avalanche of pull-outs) and that's no better than being beholden to investors.
The contemporary "startup" ethos is admirable in many ways but it's also chock full of ridiculous and embarrassing contradictions-- meritocracy vs. the extreme importance of connections; "this will be big" vs. taking an acq-hire welfare check, "changing the world" vs. the patent absurdity of many "social media" companies-- and if we want it to be more than a self-devouring fad, we need to have a real conversation about what kind of leadership we need, as a society, whether we are getting what we want in terms of leaders (I honestly don't know) and, if not, what we should do to change that.
Most Americans despise "politicians". They like their representatives, but have a negative view of elected officials, because the amount of bullshit (fundraising, campaigning) one has to put up with in exchange for the returns is so immense that the assumption is that no one would do it without an ego the size of Texas. The assumption is that politicians are either monstrously egotistical, or taking something out of society (speaking fees, "consulting" options for their kids) on the side that would justify the absurdity.
"Entrepreneurshit" reminds us that VC-istan startup founding isn't much different. There are some good Founders out there, but they're basically private-sector politicians. To be frank, I agree with this assessment. One caveat: if you're rich enough to own your own time and career (instead of having to rent them from a boss) then I think the entrepreneurial path is superior in long-term expectancy, and you can afford the variance. But in that scenario, I'd probably boot-strap. Multiple liquidation preferences and participating preferred are for strivers and poors, yo.
I don't know that client-powered, "bootstrapped" companies can claim moral superiority, either. Mad Men is a good depiction of the sociology of that world. The industries have changed; people, much less. Most of those firms are had by the balls by clients (losing a big client triggers an avalanche of pull-outs) and that's no better than being beholden to investors.
The contemporary "startup" ethos is admirable in many ways but it's also chock full of ridiculous and embarrassing contradictions-- meritocracy vs. the extreme importance of connections; "this will be big" vs. taking an acq-hire welfare check, "changing the world" vs. the patent absurdity of many "social media" companies-- and if we want it to be more than a self-devouring fad, we need to have a real conversation about what kind of leadership we need, as a society, whether we are getting what we want in terms of leaders (I honestly don't know) and, if not, what we should do to change that.