Cross bridges as we come to them

A great quote from the book The Magic of Thinking Big:

A test of a successful person is not an ability to eliminate all problems before they arise, but to meet and work out difficulties when they do arise. We must be willing to make an intelligent compromise with perfection, lest we wait forever before taking action. It's still good advice to cross bridges as we come to them."

The average age of a successful startup founder

According to research from Harvard Business Review, the average age of successful startup founders is 45. The article presents fascinating evidence challenging the widely held belief that the most successful entrepreneurs are young. From the article:

• “Among those who have started a firm, older entrepreneurs have a substantially higher success rate.”

• “Why might this be? Although there are many other factors that may explain the age advantage in entrepreneurship, we found that work experience plays a critical role. Relative to founders with no relevant experience, those with at least three years of prior work experience in the same narrow industry as their startup were 85% more likely to launch a highly successful startup.”

What if you’re passionate about an industry where you don’t have experience on your side? Consider partnering with someone that does.

It’s a fascinating bit of research. You can read the full article here.

Time and perceived value

Back in 2018 Recode and market research company Toluna did a survey asking American Facebook users if they would be willing to pay for an ad-free version of Facebook. 77% of respondents said they would not be willing to pay. This reveals something remarkable about how we can come to value our time.

According to Statista, American adult users of Facebook spent an average of 33 minutes per day between 2017 and 2022. Yet the perceived value that the user derives from that time spent, is worth nothing in their own opinion. Not even a few bucks over the course of a month.

We’re willing to spend money on something like sleep that in and of itself is free because there is clear value to be derived from good sleep. Cumulatively we spend thousands of dollars on good mattresses, sheets, pillows, etc.

Yet, something remarkable can happen to our perception of the value of our time when it comes to certain things. What’s the metaphor here?