Is Ageism in Technology Real? Are the companies of our youth redefining age discrimination in Silicon Valley? Or is it just a new way to build technology companies.
It is hard to tell what is happening but I can tell you as an aging entrepreneur and investor, it gets harder every year to get capital, get press, get customers and break through as a startup. The market is full of more young entrepreneurs, more ideas, more players and every day more keep pouring into the space where I invest and operate – digital advertising and marketing technology. This adds more competition which should make it harder to get capital, customers and to break through. But the market is getting bigger – no it is getting very very huge very quickly. That is why all the money and opportunity is flowing to it.
So what is reality. Is there a conspiracy or under current of Ageism in the market that is affecting people like me operating in Technology and in Silicon Valley or is it just a bunch of angry nay sayers that are getting pushed out by new competition. People that can’t keep up with the pace of change in how technology companies are being built this decade (and it changes every decade). Well it is really hard to figure out – so I compiled a bunch of articles below to really show you the full picture. You can draw your own conclusions. I know I have mine.
Really this is TL but you MR! I think this is the definative post on the concept of Ageism in Silicon Valley. Actually they go much deeper and talk about the history of Ageism of Technology. You should really block out 30 mintues and read this post and the rest of the articles this author references.
Experience has a huge upper hand in execution but in the race for dollars, presence and the hip factor, the young entrepreneur takes the cake – especially if you are trying to get institutional money and attention
I am not sure this is a really a “Dirty Secret” now but Age Bias seems to be a little rampant. I am so glad that I don’t have to botox but dressing younger and looking younger really helps with investors, clients and employees if you are a tech company.
Scheinman is truly contrarian. He is betting on the older entrepreneur. I hope he succeeds but as an angel investor you need big wins and big wins need lots of capital and this series of articles shows you it is much much harder for older entrepreneur to attract capital. I think Scheinman is coupling his older entrepreneur investment style with focus on enterprise software and SaaS plays that require less capital.
Vinod Khosla is famous for saying “People under 35 are the people who make change happen,” “People over 45 basically die in terms of new ideas.” But if you read the data in this article you will see that the numbers don’t play this out. That the average age of a successful founder is 39. That twice as many successes happen to founders over 50 than to those less than 25. Check out the facts people!
And we wonder why there aren’t that many women in tech when we see not only Ageism but Bro cultures such as these in the Valley
The real reason for Ageism in Silicon Valley – GREED! I think the money players may be subconsciencely pushing their Ageism agenda because these young hotshot CEOs like Aaron Levie don’t know any better and will take the dilution down to 4.1%. Who is making the money – all the VCs! I mean who in their right mind gives up 6-10% of their company for a incubator session – young entrepreneurs who don’t know any better. The system is built by the VC to control the companies and extract the value for themselves.
8 is not enough. Or maybe it is enough if these 8 are all under 30. Check out this cheat sheet on the young Start-up Founders Making Millions for their VCs