Hey we're all entrepreneurs though.
This is, and for many decades has been, the definition of "startup" in the tax code. (Some tax codes limit the "startup" period to the period before the startup becomes generating revenue from its primary business activity.)
With some outliers, most VCs don't try to create new value, they just try to create new money. The risk they take is minimal compared to startups - it's not their money (it's their investors), and a nice cushy salary is all but assured for several years. Even when they fail (and they fail a lot - like most businesses do) - they barely feel each failure compared to how the startups feel it (I guess their reputation / pride takes a hit?).
If you want to self promote - as an entrepreneur, I would much rather read about how you are adding value instead of convincing me you don't know what I do either.
I'd argue that many startups try to create new money too.
"The risk they take is minimal compared to startups - it's not their money (it's their investors),"
Not true. General partners also invest in the VC firms. It's not completely OPM
"and a nice cushy salary is all but assured for several years."
Also not true. In NYC, for example, 100K isn't exactly "cushy".
"Even when they fail (and they fail a lot - like most businesses do) - they barely feel each failure compared to how the startups feel it (I guess their reputation / pride takes a hit?)."
Back to the previous point, they lose the money they personally invested and they feel the failure when they turn around and try again.
Obviously, startups are usually a business too. The difference is what they actually do to make money - by creating value or by putting in money.
> Not true. General partners also invest in the VC firms. It's not completely OPM
When you have enough money to invest in a VC fund, typically have enough to get by without the returns (at least if you're a smart investor). On the other hand, most entrepreneurs put it all on the line when they try to bootstrap a startup (remember most startups don't successfully raise).
> Also not true. In NYC, for example, 100K isn't exactly "cushy".
Most people would very comfortable with 100K, NYC or not... just the fact you have a decent, dependable salary for several years makes it cushy compared to a startup.
> Back to the previous point, they lose the money they personally invested and they feel the failure when they turn around and try again.
Entreprenuers put much more in a startup than money. In fact, I would say money is the smallest investment you can make in a startup, emotionally. Time, blood and tears build startups, money is just a facilitator.
And if you have enough money to start a real VC fund by yourself, chances are that you don't really need a salary... as opposed to bootstrapped startups that are just barely scraping by.
That said, not everyone's life IS hard. If you can afford not to take a paycheck for a few months to work on a dream, perhaps you should recalibrate your "how hard life is"-o-meter.
Cool portfolio of Companies though!
