I am (not) a failure: Lessons learned from six failed startup attempts
A founder’s candid account of six failed startup attempts prompts a broader examination of what “success” really means in tech and in life. Commenters weigh how much outcomes hinge on privilege, timing, luck, and the ability to absorb repeated failure, versus grit and long hours, and contrast startup risk with stable careers. Many conclude that financial wins are only one dimension of success, with family, health, autonomy and learning from failure often mattering more than the classic unicorn narrative.
Wealth, Risk, and Luck
- Many argue startup “success vs failure” is heavily constrained by whether you can afford to fail repeatedly; wealth buys more attempts.
- Counterpoints: hardship can forge relentless founders; immigrants and “grindset” are cited, but others call this survivorship bias.
- Several note that luck, timing, and existing comfort matter at least as much as effort or talent.
What Counts as Success or Failure
- Strong theme: success is subjective – money, family, health, autonomy, and integrity all appear as competing metrics.
- Some see the author as a failure because the explicit goal (“successful founder”) wasn’t met; others say the person can still be a success even if ventures failed.
- Debate over whether reframing painful outcomes as “success” is healthy growth or emotional “coping.”
Startups vs Conventional Careers
- Multiple commenters claim a long, well-paid career (Big Tech, banks, insurance, CRUD work) is often financially superior and less risky than startups.
- Others emphasize the journey, learning, and autonomy as non-monetary reasons to found companies.
- Some report their main lesson: don’t start a startup; others insist not trying would be worse than failing and wondering “what if.”
Execution, Ideas, and Skills
- Repeated point: ideas were often good and later validated by other companies (ridesharing, charter platforms, Airtable-like tools), but execution, timing, and team were lacking.
- Startups are framed as a distinct skillset: sales, hiring, product–market fit, capital, and regulation — not just engineering or research.
- Several note that technical or academic excellence (e.g., PhDs) does not prepare you for business-building.
Psychology of Founding and Failure
- Founders describe burnout, impostor feelings, and loneliness, especially without co-founders or sales partners.
- Others report redefining success around personal growth and resilience: being able to fail repeatedly yet remain broadly happy.
- There’s disagreement on perseverance: some say “quit when the going gets tough,” others see persistence as essential, within reason.
Structural Barriers and Risk Pooling
- Access to networks, capital, and trustworthy co-founders is seen as a major bottleneck; many recount exploitative equity offers and flaky “idea guys.”
- Proposals surface for spreading risk across founder pools or accelerator batches so one big win partially compensates others’ failures; similar schemes are mentioned as already tried, with unclear impact.
Banking and Fraud Tangent
- A side discussion examines credit card fraud and banking: banks treat fraud as a small cost of doing business and pass costs to consumers.
- Some argue this makes large-scale technical fixes low-priority for banks despite potential societal gains.