Do people do this for fun?
We know that when we decide to go to Equity Land, we are signing up for the roller coaster ride. Not that a day job is not stressful or lacks some level of importance or value. The point is not to judge one type of employment or work over the other. Entrepreneurship is just different. When you unclip the safety belt of a larger organization and go out in the World alone, there is a freedom and exposure not felt or able to be replicated inside an organization. There is no hiding. On the contrary, to be successful, one has to seek out exposure and failure. These are not instinctual behaviors for normal hominids.
Here is the punch line of all this and why this matters. Equity land is the future of work. Think about it. Think of someone on social media that does a very specific job. They are focused on a highly skilled area that is needed by many. Not only that, but they are great networkers, and they market to a very broad audience. This is currently called the “Gig Economy.” Soon it will be called “The Economy.” We might be there now.
This is as natural as the division of labor during the industrial revolution. With the advent of remote work, LinkedIn, and largely free information, the unit of economy will begin to trend toward the lowest common denominator, The Individual. This does not prevent or devalue the power of individuals working on a common goal. In fact, this is done more efficiently with the individual as the unit of the system. Teams with forced membership always have dead weight. Uber drivers that don’t drive, don’t get paid.
Yes, people are fighting against this. Yes, this feels dystopian, being forced onto a roller coaster that you do not want to be on is terrifying, especial when your livelihood, family, community, and for that matter, your total World view are being challenged.
For the noobs in Equity Land, this is your first challenge; get your sea legs under you. If you are doing MiraLAX shots every morning, you are not there yet. Take a deep breath and slow down. You control the speed of the roller coaster. Do not let others, VCs, or you Ego control the speed of the ride. Let your mental health and your physical health control the speed lever. It is the only way to stay on the ride long term. That friends is the real goal. If you stay on long enough, you will get your sea legs and you will be able to stop screaming and start looking around. Equity Land is an exciting place, full of profit, and peril.
Through my Firm, Primetrics, I focus on the task of helping founders stay on the ride and access resources that will help.
Tickets please, all aboard! Adam L. Turco, CPA