Either way, the risk you can take without VC is limited by your wealth. Large bets without VC require independent wealth. We can quibble about what amount constitutes "independent wealth", but the fact doesn't change - VC allows you to dream bigger. (And I say that as a fierce critic of VC culture, but that is the upside of it)
I don't think it's particularly in touch to dismiss someone who works 50 hours a week to make an income and then Works another 50 hours a week on a startup that spends that income
I've worked hundred hour weeks and also supervised crews of Hispanic Americans that will work 100 hour weeks.
On the other end of the spectrum, I've known m&a lawyers that do the same to close deals at the end of the fiscal year.
100 hour week is roughly 14 hour days with no weekend break. 6:00 a.m. to 8:00 p.m. is pretty common for agricultural work during harvest season for big cash crops. You start while it's dark and you end while it's dark.
Agriculture is historically seasonal: you work a lot during some times, but the rest of the time you do completely nothing on the agriculture front. Not a luxury at most modern workplaces.
The claim that a long period of rest is always necessary in-between 100 hour work weeks is simply not true.
Creative innovative mental work? In these amounts it will fuck you up.
Yes, people do. It carries potentially huge personal costs, but if people are passionate enough, they absolutely will risk that. (Mind, I'm not saying this is a good idea, at all, but merely that it happens)
At least in the cases I did, it was usually a 9 month gruelling sprint at the end of a ~2.5-3.5 year project. Followed by people lollygagging about for ~3 months before they could do any reasonable work again. We sure got a lot of Age of Empires in during that time, though ;)
Are there people who just do not need any of those things? Maybe, but I would question it. (Too often what you think you need could be different from what you actually need.) Personally, even as someone who enjoys software engineering and would do it as a hobby, I think I would be quite miserable.
Here is what I think is reasonable: Someone would have an idea that is attractive for YC et al., raise money, and be able to comfortably afford all those things while working on a company. That is, I think, the promise of the leading quote in TFA. Unfortunately, the quote is phrased as if they are out there to help people start companies, while in reality it is about starting businesses with specific potential for explosive growth that are attractive to VC.
They are out there to help people start companies, just not all people and ideas in equal measure.
Yes. That would have described me very well at one point in my life. Coincidentally, it was at the time I was running my first (unsuccessful) business.
If it was just work, do you now think it was a good idea to ignore everything in life except work?
I.e., you thought you didn’t need those things and you actually didn’t need those things, vs. you needed them but you thought you didn’t and it caught up with you eventually.
I was just fine.
If your trust fund pays for rent and living expenses in San Francisco, and you don't even think of it as abnormal that your ENTIRE INCOME can be allocated to business bets, then yes -- you are indeed wildly out of touch.