The entrepreneurship craze is over

By Penelope Trunk via blog.penelopetrunk.com   Article

The entrepreneurship craze is over. Now what?

“You can easily trick yourself into believing that entrepreneurship is all the rage among young people. Hacker meet-ups, entrepreneurship clubs on college campuses, and the sudden growth of incubators and accelerator programs can present fodder for this case. But these are really just ways to talk about starting a company.

Zachary Slayback says, ‘Entrepreneurship among young people is actually relatively uncommon. Relatively few young people today own stock in a private company, and a good chunk of those who do likely aren’t entrepreneurs anyway, but rather work for companies who issue equity to their employees.’

The reason entrepreneurship is relatively uncommon is it’s too high risk for 90% of Generation Y. They are simply not risk takers. Their parents raised them to be successful in the most common sense of the word, which precludes risk taking. Because risk takers look crazy, not successful. Confirming that reason is the Wall St. Journal, reporting that Gen Y is starting businesses at a much lower rate than Gen X.

Gen Y wants fulfilling work, but starting a company is not-fulfilling, it’s all-consuming. There is no half-time alternative.”

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