The author advises Software Engineers (SWEs) against quitting their jobs to start their own businesses in the current economic climate. They share their personal experience of leaving a high-paying job at a New York-based unicorn company to start a venture, only to face challenges such as venture capitalists' selectiveness towards non-AI startups, lowball offers, and a less viable B2B market due to businesses' financial constraints. The author also mentions the difficulty of freelancing due to an oversaturated market and the struggle to find employment after their venture failed.
The author concludes by warning others not to make the same mistake, especially if they have responsibilities. They suggest continuing to work on side projects while maintaining a stable job. The author's experience serves as a cautionary tale about the risks of entrepreneurship in an unstable economy, emphasizing the importance of job security in uncertain times.
Key takeaways:
The current economy is not favorable for software engineers to quit their jobs and start their own startups.
VCs are currently very selective and mostly interested in AI, leading to lowball offers for other types of startups.
The market for freelance work is currently oversaturated due to layoffs, driving prices down.
The author advises against quitting a stable job to pursue a startup, especially for those with responsibilities, and suggests working on startup projects on the side instead.
