Older Entrepreneurs Are Better (Research Finding)

there seemed to be this very consistent finding that the likelihood of entrepreneurial success rises with age....... age reflects many, many things in life. We know that with age, many benefits accumulate, including your social ties — your relationship with suppliers and potential hires and co-founders — as well as financial wealth and human capital that you gain from working in different companies. ....... You could have the Zuckerbergs and Sheryl Sandbergs on a team, where you have a very young entrepreneur and perhaps an older manager to balance out those views. ....... when you look at just the Zuckerbergs and Gates of the world, you’re really cherry-picking the examples that the media likes to show. When we look at those individuals and their career histories, there is some evidence that over time they get better as operators and entrepreneurs of real companies. Even in that example, we have reasons to think that age is still an advantage in terms of being an entrepreneur. ...... this link between entrepreneurship and age is a really strong one. ......

venture capital often favors the young

...... They may know what’s happening, but they also know that there’s greater bargaining power against young entrepreneurs. ...... I’ve spoken to many executive MBA students who are in their early 40s and late 30s, and I’ve heard many perspectives that it might be too late for them to become entrepreneurs. What we want to do is discourage and dispel that myth because what we’re finding is they actually might be in the best position to start new companies. ........ We’re looking at immigrant entrepreneurs and the role that they play in creating jobs in the U.S. economy versus the jobs that are perhaps being “taken” by new immigrants in the U.S., and really comparing those two streams.

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How does the “batting average” for creating successful startups change with age? The answer, based on research by Wharton’s Danny Kim, might surprise you.

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Bill Gates, Elizabeth Warren, And Andrew Yang

Bill Gates is in news saying something like, I have already paid $10 billion in taxes, "more than anyone else," and you can have 10 billion more if you want, but if you want all of the 100 billion, I got a problem with that.

Now the media being what it is (they want a fight!) all sorts of brand name media outlets (this is not yellow, tabloid journalism, this is mainstream media, the kind that informs heads of state early in the morning) are saying Bill Gates prefers Donald Trump over Elizabeth Warren. After all, he is just another rich guy.

First off, Warren has never proposed taking all of Bill Gates' money. Her 2% wealth tax means Bill Gates would pay two billion, which is less than the 10 billion he has already offered to pay.

Second, someone who might be super smart in one niche might or might not be equally informed in another niche, or in the same niche in another era. We think Tesla was so smart, Elon Musk has named his most famous company after him, and Musk is today, and Tesla was indeed smart. But Tesla never bought into whatever Einstein was proposing. Tesla was a pre-relativity kind of guy.

Bill Gates is a PC-era guy. No tech entrepreneur who starts in 2020 can not buy into the idea of a Universal Basic Income (which I have never defined as American Basic Income). UBI is to the fourth industrial revolution what electricity was to the second and what the internet has been to the third. It is basic. It is infrastructure.

In all fairness, I did not hear Bill Gates say anything about UBI. I'd be very surprised if he was opposed to it. But if he is saying, you have already taken 10 billion from me, take 10 billion more, but don't take away the entire 100 billion, because I have a foundation to run.

Only the mainstream media can interpret that as an attack on Elizabeth Warren, or the idea of UBI. I can't.

I actually subscribe to Bill Gates' newsletter. So he has a tendency to show up in my inbox. He is a smart interesting guy doing good work, although it is my firm conviction 100 Gates Foundations will not be able to solve the problems of the world, what we need is a world government.

Bill Gates, Elizabeth Warren, And Andrew Yang https://t.co/emjXtgTwCV @BillGates @ewarren @SenWarren @AndrewYang @AOC @reshmasaujani @iam_preethi @deepikapadukone @priyankagandhi @priyankachopra @IlhanMN @RashidaTlaib @RepPressley @sunrisemvmt @VarshPrakash #UBI

— Paramendra Kumar Bhagat (@paramendra) November 8, 2019

Hillary Clinton called the wealth taxes proposed by Bernie Sanders and Elizabeth Warren "unworkable" and said they would be "incredibly disruptive" if enforced. pic.twitter.com/BOJPZJokSX

— Justice Democrats (@justicedems) November 8, 2019

This whole “let’s all dunk on Bill Gates” thing is infuriating. Yep, dude is mega rich. But he’s also one if the greatest philanthropists the world has ever seen.

Dollar for dollar I’d wager his philanthropic investments are dramatically more efficient in their return vs. gov. https://t.co/efyBJWkkzO

— Matt Galligan (@mg) November 8, 2019