Would love to dive into this data.
But my observations:
1. you have a much higher chance of getting rich by bootstrapping.
2. if you raise money for something that isn't SUPER scalable, you just reduced the already very small odds by more (ex: media, community, many ecommerce businesses).
3. This doesn't mean raising is dumb or won't work. You can be an outlier for sure. Just low odds.
4. Raising is likely the best way to get big fast.
5. If being famous, powerful, or having huge impact is your goal...raising likely helps you get there faster.
6. If money and freedom is your goal, don't raise.
7. All of these observations above...there are plenty of examples where they are wrong.
88% of venture-backed startup founders walk away with nothing, according to a study of nearly 250,000 founders.
Researchers from Wharton and the University of Zurich analyzed 157,669 US startups and 248,454 founders from 1987 to 2025.
The top 1% of startups captured 79% of all value at exit
The 12% of founders who did get paid received a median of $4.8 million after taxes
Robert Greene spent 25 years writing about power. Then he almost died...
Just had him on the pod to talk about:
- surviving a near death experience
- his new book, The Law of the Sublime
- what 50 Cent taught him about confidence
https://t.co/pBMV6lUbo9
@justin_butlion Ben Chestnut. But if tech is defined as new technology, if you look at the history of rich people in America, a huge percentage of them didn't raise money.
A few years ago it was just clothing nerds, now I'm seeing other groups of people doing it:
Jacques Marie Mage. $2000 sunglasses.
I know people with dozens of pairs. These guys created a helluva brand in only like 10 years.
Caring about a leader's sex life is a relatively new thing in America.
For the most of US history, there was a general agreement that private life was private and totally separate from business.
For example, JFK was a notorious cheater. The Secret Service had a special door where they routinely ushered out his girlfriend's after afternoon liaisons.
Hell, one of his girlfriends was thought to be a Nazi spy. The press new about it too but agreed not to ever talk about.
This changed a little with Nixon and Watergate, but REALLY changed in 1988.
Gary Hart was a hotshot Democratic senator from Colorado who was running for president. The front runner.
A photo leaked of him on a boat called Monkey Business with a girlfriend (he was married). He dropped out after the photo got released and his career was basically over.
Before that, a politician's sex life was mostly off limits.
I think its 100% fair that some personal stuff is part of the equation of do I vote for you or buy your company's stock.
But it does add to the bit of "why on earth would anyone want to be a politician or leader" as the fall out is massive.