Over the last 5 years I've slowly transitioned, with occasional painful moments, from academic #research to founding a #startup. Here's what I've learned as a #PhD turned #founder, a thread 🧵:
Step one of this journey, leaving #academia in the first place, was one of the hardest parts. It's a big leap to take, which I previously wrote about here:
andrewmao.substack.com/p/leaving-acad…
This thread reflects on how everything changed after that.
andrewmao.substack.com/p/leaving-acad…
This thread reflects on how everything changed after that.
I've never played #dnd, but I think the idea of dual-classing in D&D aptly describes a PhD-founder:
"A dual-class character is one who starts with a single class, advances to moderate level, and then changes to a second character class and starts over again. The character retains the benefits and abilities of the first class but never again earns experience for using them." 
Many renowned founders have PhDs or academic training: Andy Grove (@Intel; also wrote a legendary book), Larry & Sergey (@Google), Warnock & Geschke (@Adobe), etc.
But for others, too much of an academic mindset can definitely be a liability when it comes to building a company.
But for others, too much of an academic mindset can definitely be a liability when it comes to building a company.
It can be also be scary AF to feel like you’re throwing away all your accumulated knowledge and social capital from your academic discipline to start over in an arena where everyone is 22 years old and grinding 16 hours a day.
Luckily, neither of those things are actually true.
Luckily, neither of those things are actually true.
The "cult of the young founder" is a highly damaging, false myth.
And, building a truly impactful company takes years of patient, methodical work done in a sustainable way.
bloomberg.com/news/articles/…
And, building a truly impactful company takes years of patient, methodical work done in a sustainable way.
bloomberg.com/news/articles/…
The rest of this thread is divided into 3 acts:
Act 1: Ways a startup is similar to a PhD
Act 2: Ways startups are different from PhDs
Act 3: Some general startup advice
Act 1: Ways a startup is similar to a PhD
Act 2: Ways startups are different from PhDs
Act 3: Some general startup advice
Act 1: the similarities.
It turns out starting a new lab as an assistant prof isn't all that different from starting a new company.
Simply rename the following tasks:
It turns out starting a new lab as an assistant prof isn't all that different from starting a new company.
Simply rename the following tasks:
Grant writing ➡️ Fundraising
Giving talks ➡️ Pitching
Recruiting PhD students ➡️ Hiring
Talking about your work to laypeople ➡️ Marketing
Getting your lab to do research instead of doing it yourself ➡️ Management
Writing Twitter threads ➡️ Writing Twitter threads
Giving talks ➡️ Pitching
Recruiting PhD students ➡️ Hiring
Talking about your work to laypeople ➡️ Marketing
Getting your lab to do research instead of doing it yourself ➡️ Management
Writing Twitter threads ➡️ Writing Twitter threads
There also are a lot of meta-skills from the research process that transfer over well into startups. These include:
1: Comfort with uncertainty.
The trite and potentially disconcerting "get comfortable with being uncomfortable" is no stranger to a researcher.
1: Comfort with uncertainty.
The trite and potentially disconcerting "get comfortable with being uncomfortable" is no stranger to a researcher.
2: Ability to introspect what you know & don't know, and question yourself somewhat objectively.
Honest self-criticism is a huge plus for navigating the "idea maze" where many early-stage startups die:
cdixon.org/2013/08/04/the…
Honest self-criticism is a huge plus for navigating the "idea maze" where many early-stage startups die:
cdixon.org/2013/08/04/the…
3: Figuring out how to move forward when there's no clear path.
Often you can't see the top of the mountain, but you still have to find a way up, a way to keep going.
(Aside: make sure you're climbing the right mountain, though.)
Often you can't see the top of the mountain, but you still have to find a way up, a way to keep going.
(Aside: make sure you're climbing the right mountain, though.)
4: Figuring out your unknown unknowns.
Folks often graduate from college thinking they know everything. Hence the reputation of 22 yo founders.
Luckily, the process of a PhD beats that out of you, granting humility & knowledge of what you don't know.
matt.might.net/articles/phd-s…
Folks often graduate from college thinking they know everything. Hence the reputation of 22 yo founders.
Luckily, the process of a PhD beats that out of you, granting humility & knowledge of what you don't know.
matt.might.net/articles/phd-s…
5: Good writing, presentation, and communication skills.
Researchers who are well known and prolifically cited tell the story of their research in good writing and great talks.
Founders who are able to attract talent and capital tell the story of their company in the same ways.
Researchers who are well known and prolifically cited tell the story of their research in good writing and great talks.
Founders who are able to attract talent and capital tell the story of their company in the same ways.
6: Lead or be led.
From academia to companies, the vast majority of people want to be told what to do, and a tiny fraction are trying to figure out what to do.
Learn how to be the rare breed that starts a new research field or category-defining company.
From academia to companies, the vast majority of people want to be told what to do, and a tiny fraction are trying to figure out what to do.
Learn how to be the rare breed that starts a new research field or category-defining company.
7: Being an input/output machine.
Via austinhenley.com/blog/lessonsfr…: "PhD advisors are I/O machines". You feed them info and get interesting feedback in return.
A founder has much the same job: gathering information, processing it, and re-explaining clearly to different audiences.
Via austinhenley.com/blog/lessonsfr…: "PhD advisors are I/O machines". You feed them info and get interesting feedback in return.
A founder has much the same job: gathering information, processing it, and re-explaining clearly to different audiences.
8: Motivating yourself through long slogs.
Q: What's the main difference between a successful startup and a failed one?
A: The founders didn't give up.
A painful PhD at least has a clear end goal of getting your degree. A startup doesn't, and can be an even longer slog.
Q: What's the main difference between a successful startup and a failed one?
A: The founders didn't give up.
A painful PhD at least has a clear end goal of getting your degree. A startup doesn't, and can be an even longer slog.
Now, on to Act 2: how #startups are different from #PhDs.
Difference #1: the feeling of "starting over" is hard. It took me a few years to get used to it, and I joined a company that was quite academic so I didn't feel like I was losing everything.
theverge.com/2019/9/23/2088…
Difference #1: the feeling of "starting over" is hard. It took me a few years to get used to it, and I joined a company that was quite academic so I didn't feel like I was losing everything.
theverge.com/2019/9/23/2088…
In retrospect, it was also a helpful transition to join a startup first before I was mentally ready to start one myself.
It also gave me the chance to learn by observing & experimenting, and see what worked and what didn't in a growing company.
It also gave me the chance to learn by observing & experimenting, and see what worked and what didn't in a growing company.
Difference #2:
Ideas are the currency of academia.
Ideas are completely worthless in startups.
In academia, the first person who publishes the idea gets to plant their flag. In startups, if you "borrow" someone's idea and execute it better, you win.
Ideas are the currency of academia.
Ideas are completely worthless in startups.
In academia, the first person who publishes the idea gets to plant their flag. In startups, if you "borrow" someone's idea and execute it better, you win.
Difference #3:
In academia you first pick your research interests and then figure out who to work with.
In startups, it works much better to first find the right people to work with, then decide what to do.
Jim Collins calls this "first who, then what":
jimcollins.com/concepts/first…
In academia you first pick your research interests and then figure out who to work with.
In startups, it works much better to first find the right people to work with, then decide what to do.
Jim Collins calls this "first who, then what":
jimcollins.com/concepts/first…
Difference #4:
Probably ~50% of people who start a PhD don't graduate.
But, >90% of new startups fail.
Startups are probably harder than PhDs because there are myriad ways to fail and no clear end goal (unless you define one).
Probably ~50% of people who start a PhD don't graduate.
But, >90% of new startups fail.
Startups are probably harder than PhDs because there are myriad ways to fail and no clear end goal (unless you define one).
Difference #5:
Interdisciplinary academic research is hard to publish and makes it difficult to get a tenure-track job.
Interdisciplinary startups can potentially unlock boatloads of value using a novel approach that disrupts the status quo.
parsnip.substack.com/p/a-new-hope
Interdisciplinary academic research is hard to publish and makes it difficult to get a tenure-track job.
Interdisciplinary startups can potentially unlock boatloads of value using a novel approach that disrupts the status quo.
parsnip.substack.com/p/a-new-hope
Let's conclude with Act 3; some general advice.
First, if you do
(what you like) && (what you're good at),
you can be 10x more productive.
@paulg has a great discussion of this: paulgraham.com/love.html
First, if you do
(what you like) && (what you're good at),
you can be 10x more productive.
@paulg has a great discussion of this: paulgraham.com/love.html
To the above, you can add
(what you can be paid for) && (what the world needs)
to get a purpose or calling, or "a reason for being" — maybe*.
It's not easy to get all 4 but it's potentially magic if you find it.
* (I've personally had a bad track record of discernment here.)
(what you can be paid for) && (what the world needs)
to get a purpose or calling, or "a reason for being" — maybe*.
It's not easy to get all 4 but it's potentially magic if you find it.
* (I've personally had a bad track record of discernment here.)
When I was in academia I felt like a fish climbing a tree when others were clearly monkeys.
I could flop up a few branches but it took a lot of effort to get anywhere. And other folks clearly enjoyed it much more.
Now, it feels more like I'm in the ocean.
I could flop up a few branches but it took a lot of effort to get anywhere. And other folks clearly enjoyed it much more.
Now, it feels more like I'm in the ocean.
Doing a startup gives you a massive platform to grow your skills, knowledge, and social capital.
I've grown an unimaginable amount over the last 2 years.
My network has also grown 10x faster than in any other job I've had, including academia.
I've grown an unimaginable amount over the last 2 years.
My network has also grown 10x faster than in any other job I've had, including academia.
There are perhaps 4 base reasons people start companies:
- money
- status
- an aversion to working for others
- a mission
Startups are a terrible way to get the first 2 things. Only the last 2 are sustainable, and in my opinion only the last will go the distance.
- money
- status
- an aversion to working for others
- a mission
Startups are a terrible way to get the first 2 things. Only the last 2 are sustainable, and in my opinion only the last will go the distance.
Startups reward generalists.
If you can quickly figure out how to get anything done at the 80th percentile then you're probably in the 99th percentile of founders.
One of my favorite books explains how being a generalist can be so powerful: davidepstein.com/the-range/
If you can quickly figure out how to get anything done at the 80th percentile then you're probably in the 99th percentile of founders.
One of my favorite books explains how being a generalist can be so powerful: davidepstein.com/the-range/
But, being a founder doesn't mean having to figure out everything yourself. It's way easier just to know who to ask that knows how to do the thing.
Find good sources of information, and build a strong knowledge network.
news.ycombinator.com is a good place to start.
Find good sources of information, and build a strong knowledge network.
news.ycombinator.com is a good place to start.
Startups require a lot of tacit knowledge, and so "how to startup" is best learned through apprenticeship.
It’s hard to be an apprentice founder though, in the absence of being a part of the @Paypal or @Stripe mafia, find both peer mentors & coaches a few steps ahead of you.
It’s hard to be an apprentice founder though, in the absence of being a part of the @Paypal or @Stripe mafia, find both peer mentors & coaches a few steps ahead of you.
A startup is a marathon, not a sprint.
Think like a world-class athlete and build habits to keep yourself in top mental and physical shape indefinitely.
If you don’t do that, you’re going to burn out and/or die.
Think like a world-class athlete and build habits to keep yourself in top mental and physical shape indefinitely.
If you don’t do that, you’re going to burn out and/or die.
It's been said many times, but worth repeating here: startups are a TERRIBLE way to get rich quick.
Given the high failure rate and low wages of early-stage startups, most founders will earn less than if they'd worked at Walmart over the period of working on their startup.
Given the high failure rate and low wages of early-stage startups, most founders will earn less than if they'd worked at Walmart over the period of working on their startup.
Yet, if startups are a bad way to get money or impress your friends, why would you do them? Well, there are 2 rewards on the journey no one can take from you:
- the things you learned
- the relationships you built
Treasure those, as even (very likely) failure can't take them.
- the things you learned
- the relationships you built
Treasure those, as even (very likely) failure can't take them.
Finally, the cultural expectations of startups can be hard, especially for Asian-Americans like me.
After I started my #PhD @Harvard: "So awesome! You're making the family proud!"
After I started @cookwithparsnip: "Uh, so you're unemployed? When are you going to get a job?"
After I started my #PhD @Harvard: "So awesome! You're making the family proud!"
After I started @cookwithparsnip: "Uh, so you're unemployed? When are you going to get a job?"
One more thought: there is no perfect job.
Every industry I've been in (finance, academia, big tech, startups) has its own flavor of bullshit.
You just have to be okay eating the flavor being served in your line of work, or even better just ignoring it: web3isgoinggreat.com
Every industry I've been in (finance, academia, big tech, startups) has its own flavor of bullshit.
You just have to be okay eating the flavor being served in your line of work, or even better just ignoring it: web3isgoinggreat.com
If you liked this thread, please leave a comment or get in touch! I'd love to hear from you.
You can also check out where this journey has taken me, and our mission at @cookwithparsnip: parsnip.substack.com/p/why-we-start…
You can also check out where this journey has taken me, and our mission at @cookwithparsnip: parsnip.substack.com/p/why-we-start…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
