I worked in a VC for several years, and it's not a surprise to me that VCs back firms with older founders or executives. VCs want leaders who know their fields and who know how to operate businesses ... and this is particularly true of older workers, not of younger ones. Younger people may have the ideas, but not the knowledge necessary to convert an idea into reality. Even if VCs do choose to back a young inventor or entrepreneur at the outset, at later stages of investing they often choose to replace the founder with someone who is more seasoned, i.e., older.
Fascinating! I will be ordering a copy of *Second Act* (I’m in Canada and haven’t found it in any bookstores here despite a fair bit of scouring; I guess I’ll have to go through Amazon) based on the excerpt.
One thing I have been wondering about is how older people can be successful founders when they often have to balance family obligations. By contrast it seems that younger people would be more willing to work the long and obsessive hours necessary for success in this area.
I worked in a VC for several years, and it's not a surprise to me that VCs back firms with older founders or executives. VCs want leaders who know their fields and who know how to operate businesses ... and this is particularly true of older workers, not of younger ones. Younger people may have the ideas, but not the knowledge necessary to convert an idea into reality. Even if VCs do choose to back a young inventor or entrepreneur at the outset, at later stages of investing they often choose to replace the founder with someone who is more seasoned, i.e., older.
So interesting!
thanks! I liked writing this chapter a lot
so inspiratonal
Fascinating! I will be ordering a copy of *Second Act* (I’m in Canada and haven’t found it in any bookstores here despite a fair bit of scouring; I guess I’ll have to go through Amazon) based on the excerpt.
One thing I have been wondering about is how older people can be successful founders when they often have to balance family obligations. By contrast it seems that younger people would be more willing to work the long and obsessive hours necessary for success in this area.
Amen for the possibility that wisdom has currency. Thanks Henry.