Seeing so much of the talented currently laid off, why aren't we seeing new bootstrapped businesses?
The general advice that I have heard is to just keep learning and enter the workforce when it is normal again.
But I thought for some people, this is the push that they needed to build their own startup or business. Sitting without any job that screw anybody's mind so this seems to be an option too. Funding is dried up but people with a good enough runaway can start a business together in a bootstrapped manner.
Even if you return to the workforce right now, there isn't a guarantee you'll be getting your previous CTC, the previous WLB. Companies are trying to cost cut by overloading on a per employee basis and raising competitive nature between teammates themselves. If you getting this much toll, 70 hours per week in worst cases, might as well put that effort on your own venture.
Building a startup is risky. But when your current job is itself risky, doesn't seem wrong to build one.
But popping up of such small scale business doesn't happen much. Why?
I'm actually helping multiple people setup and run businesses apart from my own. There's plenty to be done and plenty of businesses who need working hands. Just that budgets are usually tighter and not nearly as good as VC funded companies. No one wants to go for that grinding work at lower pay, sadly.
Rare to find employees that plan to stay anywhere beyond 3-4 years. Most don't realise once the hard work is done with, there's enough money to be minted that would leave tech startups behind in profitability. They don't stay long enough to earn it.
What kind of businesses are we talking about here?
Niche opportunities like manufacturing, or something in healthcare, or maybe peer to peer micro lending on grassroot level, import export opportunities. I know people across domains and backgrounds doing all sorts of stuff, from online to offline.
Many of them are from my school and college circles, also ex colleagues and friends of friends. Many of them continuing their parents' ventures and making them tech enabled.
That's why I keep recommending everyone to try starting up. Even if it's a supposedly traditional business without tech.
Because market is bad