I think (from personal experience) that they do this because 20 year olds have few responsibilities, which means they can work longer hours and take more risks.
It’s not “energy” because productivity of older more experienced founders is bound to be higher. Rather, younger inexperienced founders have to compensate for their lower productivity by increased hours.
I’d say overall the risk factor is more important, because married folks with kids have to worry about losing their job and finding another one a lot more. If your spouse isn’t working or is on reduced income, you have to prioritise job safety.
The only way out of that for older founders is to be rich, and that’s an advantage in general no matter the age. In the UK many founders are highly privileged and can take risks because there is little downside for them.
There’s definitely a gap in the market for a VC that invests in experienced founders with more tolerance for moving more slowly but with higher quality results. Deep tech is one area this would work.
It’s not “energy” because productivity of older more experienced founders is bound to be higher. Rather, younger inexperienced founders have to compensate for their lower productivity by increased hours.
I’d say overall the risk factor is more important, because married folks with kids have to worry about losing their job and finding another one a lot more. If your spouse isn’t working or is on reduced income, you have to prioritise job safety.
The only way out of that for older founders is to be rich, and that’s an advantage in general no matter the age. In the UK many founders are highly privileged and can take risks because there is little downside for them.
There’s definitely a gap in the market for a VC that invests in experienced founders with more tolerance for moving more slowly but with higher quality results. Deep tech is one area this would work.