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December 16, 2008

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"How am I going to get paid while I start this thing up?"

There are two groups of people suited to founding startups. People less than 25 years old who have no responsibility and don't care if they have to crash on friends couch for a few months, and people who have already gotten rich on previous startups. If you are asking how am I going to get paid then it is obvious you are not in one of those groups and you should probably not look at founding a startup (unless it is a can't lose).

I know because I am in this exact boat. A few years back I went literally bankrupt founding startups and it was never a real problem for me. I was more worried about my parents being worried about me than not having any money. But now, with a wife and baby, any startup talk in my house is given some very stern words from my wife, "I'm not living on the streets".

don't start up if you will end up bankrupt! one in every 10 can end up rich!

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