Let's look at YCombinator's stats. YCombinator has funded something like this: https://blog.ycombinator.com/yc-stats
Let's say 1,000 companies, 8 worth > $1B. 8 in 1000 is 1 in 125.
Let's reduce 1 in 125 to - not 1 in 1250...or 1 in 12,500...but 1 in 125,500.
Everyone else goes to 0.
Okay, now you have created 142M / 125500 = $1131B in value at a cost of $42B.
That means if you took a 10% stake (a valuation of $3000 in everyone), you have now earned an approx. 30% return on your $42B.
I think the above estimates are more than reasonable and anybody anywhere in the world who wants $300 for 6 months of runway to build anything they want should be given it at a $3K valuation no questions asked - because it is free money and it is enough for 1 in 100,000 people to succeed. Those chances are better than the chances of a high schooler drawn at random (without regard to whether they have any interest whatsoever) making it into the NBA, since there are 360 people in the NBA but less than 36,000,000 high-schoolers.
$300 is more than enough for every tool an Internet entrepreneur needs - and remember, we are starting with the 5% who want to be one. the figures work just fine and your question is perfectly reasonable.
>$300 is more than enough for every tool an Internet entrepreneur needs
Oh, except an education. And a way to not be immediately steam-rolled by anyone with more money than you if your business is even remotely reasonable.
you're saying it's harder to get an education with an Internet connection and $300 than to start playing for the NBA without any particular interest or background in sports, just picking a high schooler at random? Well, okay.
plus, you say "if your business is even remotely reasonable" you'll get steamrolled by anyone with more money, but under our scenario there are more investment rounds if you succeed. (since that's the only way to end up with a $1b valuation.) in short I'm afraid you've missed the point of my calculation entirely.