Entrepreneurship and innovation Question 1: Explain and discuss the role and definition of the entrepreneur according to different economic theories. What is your view on entrepreneurship? What is an entrepreneur?
Want to start a startup? Get funded by Y Combinator. October This essay is derived from a talk at MIT. Till recently graduating seniors had two choices: I think there will increasingly be a third option: But how common will that be?
I'm sure the default will always be to get a job, but starting a startup could well become as popular as grad school. In the late 90s my professor friends used to complain that they couldn't get grad students, because all the undergrads were going to work for startups.
I wouldn't be surprised if that situation returns, but with one difference: The most ambitious students will at this point be asking: Why wait till you graduate?
Why not start a startup while you're in college?
In fact, why go to college at all? Why not start a startup instead? A year and a half ago I gave a talk where I said that the average age of the founders of Yahoo, Google, and Microsoft was 24, and that if grad students could start startups, why not undergrads?
I'm glad I phrased that as a question, because now I can pretend it wasn't merely a rhetorical one. At the time I couldn't imagine why there should be any lower limit for the age of startup founders. Graduation is a bureaucratic change, not a biological one.
And certainly there are undergrads as competent technically as most grad students. So why shouldn't undergrads be able to start startups as well as grad students? I now realize that something does change at graduation: Regardless of how complex your life is, you'll find that everyone else, including your family and friends, will discard all the low bits and regard you as having a single occupation at any given time.
If you're in college and have a summer job writing software, you still read as a student. Whereas if you graduate and get a job programming, you'll be instantly regarded by everyone as a programmer.
The problem with starting a startup while you're still in school is that there's a built-in escape hatch. If you start a startup in the summer between your junior and senior year, it reads to everyone as a summer job.The similarities are far more common than the differences.
For a mission-driven for-profit, success means revenues exceed expenses, just like a profit-maximizing for-profit. The same tools and techniques apply with or without the social mission. There are actually remarkable similarities between entrepreneurs and traders (I mean, if you think about it, full-time traders are entrepreneurs).
Below are four common characteristics between entrepreneurs and traders that I find to be true. The Berlin Wall—symbol of a divided city within a divided nation within a divided continent—was grounded in decades-old historical divisions at the end of World War II.
Get The Wall Street Journal’s Opinion columnists, editorials, op-eds, letters to the editor, and book and arts reviews. 3 Entrepreneurship similarities and differences The Entrepreneurs that I am comparing and contrasting are Elon Musk, Sir Richard Branson, and Jim Garlend.
October (This essay is derived from a talk at MIT.) Till recently graduating seniors had two choices: get a job or go to grad school. I think there will increasingly be a third option: to start your own startup.