Explore

The Problem List

⁠

Return to "Venture Years"

⁠

Outline

⁠

Problems with Accelerators⁠

⁠

Problems with the Startup Life⁠

⁠

Problems with College⁠

⁠

Problems with Working for a Company⁠

⁠

Problems with Volunteering⁠

⁠

Problems with Gap Year Programs⁠

⁠

Problems with Accelerators

Accelerators are short, 16 weeks on average [

source⁠

On average it takes 2-3 years for startups to reach product market fit [

source⁠

]. Without financial support throughout the full 2-3 years, startups are more likely to dissolve.

A talented individual who wants a secure 5 year plan is less likely to apply.

Accelerators attract a certain type of individual which excludes potentially talented founders who meet at least one of the following criteria:

The individual who is social and really wants to enjoy the social experience of college.

The individual who got accepted into a top tier university on a full ride.

The individual who has some doubt that their idea will be successful, 90% of them are correct [

source⁠

The individual who has parents that are involved in their life and think that college is the best path to a successful life.

They accept a specific type of individual which there is no data to show that these individuals will be the best founder. Accelerators often accept:

The best “pitcher”

The one who has already put the most time into their project.

We believe an applicants “potential” should be the number one criteria in selecting a candidate.

Problems with the Startup Life

The path to VC funding is not obvious for many high school graduates and 90% of unicorns were VC funded [

source⁠

Finding a cofounder you work well with takes time and the commitment for both individuals to drop what they are currently doing. To know you work well with one another you need to actually work with one another which takes time. During and after college, the chances that both of you can drop what you are doing to start a company is low, opportunity cost and risk are both increase the older one gets. It is important to have a cofounder for many reasons, including that over 80% of unicorns had a cofounder [

source⁠

In 2019, a third of all founders were living with depression [

source⁠

Problems with College

Is expensive, 65% of graduates are in debt, and debt can indirectly effect an individuals ability to start a company [

source 1⁠

2⁠

]

21% of current students depressed (over 5x the national average) [

source 1⁠

2⁠

41% of graduates underemployed [

source⁠

A college degree does not signal relevant job skills for employers.

College’s rigid learning path limits creativity and distracts students from pursuing new opportunities for ~4 years.

College teaches individuals to be an employee (ex: think inside the box, ignore creativity, do not question the status quo, follow instructions and conventional wisdom).

Teachers often care more about research than teaching, giving students a below average educational experience.

Learning paths are generally inflexible meaning many students never even learn what their dream career is.

Problems with Working for a Company

Miss out on the social experience of college.

Difficult to get a desirable job without having a college degree.

You have a boss.

Problems with Volunteering

No paycheck.

Often not preparing you for a desirable, well-paying career.

Problems with Gap Year Programs

Generally expensive.

More for fun, generally not a clear outcome that will advance one’s career.

Experience is often for 1 year or less.

⁠

Return to "Venture Years"

⁠

Want to print your doc?
This is not the way.

Try clicking the ⋯ next to your doc name or using a keyboard shortcut (

CtrlP

) instead.