Clay Shirky (an always insightful and sometimes brilliant thinker on technology) has written up an interesting piece entitled The (Bayesian) Advantage of Youth. In it, he considers why so many young entrepreneurs are so...young. He asserts that, as we get older and gain more experience, we're less inclined to buy into something potentially revolutionary.
Instead, we brush it off as a mere anomaly. He elaborates:
The mistakes novices make come from a lack of experience. They overestimate mere fads, seeing revolution everywhere, and they make this kind of mistake a thousand times before they learn better. But the experts make the opposite mistake, so that when a real once-in-a-lifetime change comes along, they are at risk of regarding it as a fad. As a result of this asymmetry, the novice makes their one good call during an actual revolution, at exactly the same time the expert makes their one big mistake, but at that moment, that’s all that is needed to give the newcomer a considerable edge.
For a 37 year-old partner in a relatively young firm that is locked into emerging trends in technology, his perfectly reasonable assertion feels a bit...wrong. While past experience no doubt shapes us, I think there are a handful of factors - some in our control, some not so much - that contribute to the lack of older entrepreneurs.
My own case is an interesting example. Looking back on my professional career, some of my best and most aggressive moves occurred when I was nearing my mid-30's. Even today, I'm sitting on new ideas that I'd love to find the time and money to experiment with and prove out. As Arc90 nears its third year in existence, we're well into one of our own, dare I say bold, product initiatives.
So, why did this all happen for me so late? One word: liberation. Over the past ten years I've worked in large corporations (investment banks and the like) as well as an Internet startup that crashed and burned. But only in the past four years, through both chance and conscious choice, did I break off and work on my own. In 2004, I dabbled with a product that was effectively an RSS news aggregator (only Bloglines was around back then). Eventually, I took some work as an independent consultant trying different things. Soon after that, that ended with the launching of Arc90.
During that period, I met new people, heard new ideas, was confronted with new problems and challenged to come up with new and creative solutions. All the while, I was reading what was happening in technology, closely watching RSS and Ajax emerge from trends into full blown movements. The last four years have been, without a doubt, the most fulfilling and enriching years of my professional career.
Am I the exception, or did my surrounding circumstances play a large part in my "later years" entrepreneurial thinking? I firmly believe that I am not the exception, and that we can consciously do a lot more to keep the creative mind going. I do believe that this is less about the weight of our past experiences and how they drag us down and more about mindset. How do I improve my mindset so that (a) I come up with fresh, new ideas (and keep coming up with them and (b) how do I condition myself to not fear going after them .
I think the above two points are inextricably related. If you have fears, you will undoubtedly stunt your ability to come up with fresh ideas. If the fresh ideas stop coming, when they do arise you'll be far more inclined to crush the rebellion and go back to your routine. So how can we keep the fearless flow of new ideas flowing? Here are some things I try to do that you may find helpful (budding entrepreneurs in your 20's, you can skip over this part):
I should probably disclaim that I'm no expert in psychology or anything of the sort. I'm just sharing my own tricks for staying creative and maintaining a more intellectually aggressive mindset. I think the one common theme for me has been: don't stop growing and learning.
Oh, and one last thing...get yourself a juicer.
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I think ur ideas are really valuable.
Posted by: murugan at August 21, 2007 4:19 AM
Inspiring post, Rich! I would guess that one thing Shirky's analysis misses is simply changing priorities. 24 year olds can stay up all night and code, then spend hours reading blogs and catching trends. 34 and 44 year olds may not have the same flexibility due to family or career pressures. As you say though, I'm sure you're one of many exceptions to this generalization.
As one of the "budding entrepreneurs in my 20s" that you mention, I can say that the suggestions you offer for keeping a fresh outlook are as relevant to me now as they may be in 10 years. I find that I get most excited about what I do by blogging. As a self-employed developer, I spend a lot of time alone during the day. Blogging gives me the sense (possibly illusion ;) )of sharing ideas with others...and then makes me want to come up with new ones! Also, devoting a couple hours every once in a while to playing around with Processing (www.processing.org) has provided me with lots of sketches (code and artistic) which inspire my 'serious' projects.
Posted by: Johnny Rodgers at May 23, 2007 3:47 PM