The dangerous allure of the “Billion Dollar Startup Club”
Yesterday Forbes published a piece on “The Billion Dollar Startup Club”. As more attention is paid to the world of entrepreneurship and more and more people are aspiring to start their own companies, there’s a disturbing trend developing of people deciding to found a company simply to get rich.
More and more, I hear the question “what do you hope to achieve by founding X” answered with “we want to make X a billion dollar company”. That’s often followed by some mention of “disruption” or “innovation” or even “impact”, but the core purpose of these founders is clear – to make boatloads of money. Aside from the fact that there’s already an industry for those primarily interested in accumulating wealth, that’s a recipe for startup disaster.
While it appears the vanity $1B mark matters even to some entrepreneurs en route to big success,1 the harms in striving to be included in the “billion...
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