I often get asked why I’ve chosen to bootstrap all of my businesses and always answer the same way:
Do the math…
Roughly 7% of startups make it to a valuation or sale in excess of $40MM and 1.28% of startups achieve a billion dollar valuation.
Would you bet any amount of your net worth on an investment with a 7% chance of a marginal return and a 1.28% chance of a huge return? Would you buy a house if you knew there was a 93% chance it would go to zero?
I didn’t think so.
For every 1 Jeff Bezos, there are 99 Geoff Bozos who failed. Which are you?