Successful 'Young Entrepreneurship' is Mostly a Myth

This video brought to you by Elizabeth Holmes and the abnormal pressure we place on young people to be "the next Elon Musk / Bill Gates / Steve Jobs"
Harvard Business Review:
This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it a Napolean Hill pitch.

[Coffeezilla]

You're not a failure if you didn't build a unicorn by 25, you're normal.

[prophismusic]

"It's all about sacrifice and a long term mindset." - Timmy, age 11

[johnthicks]

People overestimate what they can accomplish in the short term but underestimate themselves in the long term.

[ToddBaldwin]

Dudes on Instagram invest $5 in the stock market one time and be like "Your 9 to 5 won't make you wealthy, your mindset will."

[paddygalloway]

I think a huge problem is just the fact people think they NEED to form a unicorn company. You can make 6 figures detailing cars with no start up cost. It’s just not as glamorous.

[quincylarsonmusic]

Having spent a few years in the San Francisco startup scene, I know quite a few people who cracked under the pressure of trying to build a unicorn in their 20s. They tried to found their own startups right out of college, when they should have slowed down and worked for other people's companies first to ride the learning curve. Instead, so many people I know burned through their cash, their networks, their reputations, and left the city with only heartbreak to show for their years of effort. The "young tech founder" media narrative has real world consequences. Don't let yourself get caught up in that game. Success takes time.

[CaseyBurnsInvesting]

Important message. Statistics and common sense are good to have so you know when you’re being sold a dream.

[pinviewapp]

I think the biggest part everyone leaves out is that most young entrepreneurs come from rich families (at least the ones that build huge companies) so they don’t have to work and can focus solely on their business/startup

[hawk]

As a business owner, I didn’t start my business until I was in my mid 30s. I held sooo many different types of jobs in government, retail, IT, etc. You need to work for people for a while so you can learn what to do, what not to do, fail, study, and grow without worrying about losing your house. I can’t tell you how many 20 year olds I work with and mentor who want to earn 6 figures instantly having zero experience. Have patience and remember that you should be learning from each job you have.

[danielencarnacion]

Most of the unicorns went ivy league schools and come from relatively well off families. Not taking anything away from them but they had "rich" social networks for support, connections, and money. Which are things every entrepreneur has to build up

[amys]

People also then to negate privilege correlating to a “young” entrepreneur’s success. Your success at that age also depends on the family background you come from and the wealth you come from.

[Valhalla_Heathen]

It’s sad that the word “entrepreneur” is losing its meaning just like the word “influencer” these days.

[MashZ]

They almost always have parents or family with connections. But we're sold a story about how they are self made

[computer-training-for-seniors]

I'm 54 and started my current business when I was 45. It has grown slowly into a reliable source of regular income.

[Lollipopmorgue]

I always thought I was just a late bloomer because I didn’t have the discipline, experience, or confidence to really pop off in my career or my endeavors until I hit 40. To all those people who think life ends at 30, you’re going to have your mind blown in the best way!

[BillTheConquerer]

The youth founder myth is brutal and only exists so that Angel and VC investors can play the numbers game to find a unicorn company. Youth founders are easy to control and give investors what they want.

[nukious]

This really took a ton of anxiety off my shoulders at 40 years

[Mr.Rogers]

45 is actually younger then I thought but make total sense. 40s you can still have young energy and the experience and wisdom of an established professional.

[thegreatgoddess]

A 22 year old who has occasional anxiety attacks when thinking "what the hell do I do I'm already in my 20s and I don't know what I should be doing" "Should I start a business" "Should I go beyond my Bachelors?" "Should I do both?" "CAN I balance both successfully?".... This brings me a lot of relief

[andyvozzamusic]

As a musician, one of the things that created this misconception is the fact that most "successful" creative people, such as musicians, actors and so on, start usually at a young age. What is often forgotten is that these people most often have other people much older and experienced than them dealing with other parts of the business.