Entrepreneurship

The year is 2025. I’m turning 40 soon, sitting in a cramped 450-square-foot apartment with thin walls, $50,000 in credit card debt, and a credit score of 646. My financial worth: $100 in liquid assets. My net worth: deeply negative. Five years ago, I was worth over $7 million. This isn’t a story about market crashes or economic downturns. This is a story about human fallibility—specifically, mine. If you’re looking for a cautionary tale about greed, overconfidence, and the psychological pitfalls of sudden wealth, welcome. I’ve lived it all so you don’t have to.

A recent discussion on Reddit about entrepreneurship prompted me to reflect on a fundamental question: What motivates entrepreneurial pursuits despite their significant inherent challenges? This question becomes particularly relevant for those with limited initial resources or established networks. Personal Motivations for Entrepreneurship # My perspective on entrepreneurship centers on two core aspirations: applying valuable skills to work I find meaningful, while creating sufficient economic stability to live comfortably without financial anxiety. This framework prioritizes purpose and sustainability over wealth maximization.

I’ve long aspired to build a sustainable, successful startup—one that generates sufficient revenue to support itself and provide meaningful compensation to its team members. However, I’ve reached a point where honest self-assessment has led me to pivot toward employment opportunities rather than continuing down the founder path for now. This journey has offered valuable insights worth sharing, particularly about the gap between startup mythology and actual entrepreneurial reality.

Creating a new company presents a significant challenge, with venture-backed startups representing a particularly demanding path. For aspiring entrepreneurs without a clear business concept, identifying a compelling opportunity represents the crucial first step in the journey. Discovering the right startup concept

While I typically maintain caution around predictions, I believe we’re witnessing the early stages of a significant business model evolution. An emerging category of ventures—what I call “incentive-aligned businesses”—appears positioned for substantial growth and impact in coming years. The Principle of Mutual Risk and Reward # The concept of “skin in the game” describes arrangements where participants share both risk and potential returns with their counterparties. This principle already operates in certain investment contexts—angel investors provide capital to founders, accepting significant risk in exchange for equity that may grow substantially in value if the venture succeeds. This structure creates natural alignment between parties as their outcomes become interdependent.

Make something people want Y Combinator’s guiding philosophy—captured in their motto “make something people want”—has influenced countless entrepreneurs since its first appearance in Paul Graham’s blog post on startup fundamentals.