By Bryce Roberts (Co-Founder & Managing Director, O’Reilly AlphaTech Ventures)
As investor FOMO and entrepreneurial access to capital have increased, so too has the level of entitlement to that capital. Swap the trophy for a seed round, and that’s directionally where things are headed in startupland. Everyone gets a seed round. Everyone gets to be CEO. Everyone starts a billion dollar company. Everyone can be the next Zuckerberg.
Just as with the kids lying on psychiatrist’s couches above, eventually the founders will come into contact with the real world. But the bullies on the playground they were protected from will now be unhappy customers. The encouraging teacher will be the mismatched co-founder. The coach who shielded them from wins and losses will be the investors looking for a return on their capital. For those who entered into entrepreneurship with that feeling of entitlement, they too will beginning to feel aimless, unfulfilled and adrift (although they’ll call it “pivoting”).
Tho I believe everyone ought to approach their careers as entrepreneurs, I don’t believe that means everyone has the skills or temperament for growing and running successful startups.
Not everyone gets a seed round, despite what you’re reading on Techcrunch.