I was listening to Dave Kellog and Thomas Otter’s most enjoyable The SaaS Product Power Breakfast podcast, this time about a VC-turned-entrepreneur (in his fourties), and it reminded me about advice that I give to my students. Heads-up: The funniest ageist comment by a student, ever.
Research has shown repeatedly that the biggest chances of success for a startup are with founders in the age range of 40-50 years. Thus, the rational thing for my students to do is to learn, in industry, well-paid, and start their companies in said age range, and for VCs to invest predominantly in companies with such founders.
Yet, there are all kinds of enticements for starting your company as early as possible. The Thiel Fellowship (of $100K) is for students who are willing to drop out of college for it, the startup school model pioneered by Y Combinator caters to young(er) people, and any self-respecting university these days has an incubator that tries to motivate students to start-up (rather than pair innovation with experienced industry people).
Why is this? I ask my students.
My own answer is that VCs are biased towards younger people, because the returns on investment have a much higher standard deviation (are much more likely to fail, but if they win, win much bigger). Of the GAFAM and BAT founders, none were significantly older than 30 years; many much younger. And many VCs like the bragging rights from having found the next Mark Zuckerberg.
There are other explanations possible, of course. The funniest answer to my question that I ever got came from one of my students:
Maybe VCs don’t like to fund fourty-year old entrepreneurs because they might die soon?
I’m happy to report that the 15th article in the Open Source Expanded column of IEEE Computer has been published.
Open Source Software Engineering the Eclipse Way
Wayne Beaton, The Eclipse Foundation
Computer vol. 54, no. 6 (June 2021), pp. 59-63
Abstract: This article explains how open source software development works at the Eclipse Foundation. It dives into engineering best practices, providing insights from one of the most successful open source foundations of today.
When thinking about creating an open source project, starting with the question which license to choose is the wrong approach. Rather, you should ask yourself: Why am I creating this open source project and what do I want to achieve with it? Once you have settled this question, you can use the following simplified cheat sheet:
In 2009, half of open source code was licensed under the GPLv2 license, the canonical copyleft license. Every other license had less than 10% market share. Over the years, the MIT license and other permissive licenses kept climbing at the expense of the GPLv2. As of today, the MIT license is the leading license with more than 32% market share in absolute numbers, with the GPLv2 license having fallen below 20%.
I was interviewed by Lovis Krüger German radio broadcaster WDR on Huawei’s HarmonyOS and the industry strategies around it. Two audio statements made it into the show: (1) HarmonyOS uses a lot of open source software and (2) Huawei can’t use the Android trademark without Google’s permission. So I thought I provide my notes here.
In a well-working community open source project, many people contribute. In particular, software developers will submit code contributions. As a consequence, without further measures, the copyright in the project’s code will be widely shared among its contributors.
To ensure that a project can be used without fear of violating someone’s intellectual property rights, all project artifacts, in particular the code, need to have a clear open source license, and ideally only one.
An open source distribution is a set of open source components configured and put together to work well as one piece of software. A commercial open source distribution is a product that you pay for, and a non-commercial distribution is freely available software. Commercial distributions may be complex products, but not all complex products are distributions.
Open-Source-Software, im engeren Sinne, ist Computer-Software (Programme), die kostenfrei genutzt, modifiziert, und weitergegeben werden können. Bekannte Beispiele für Open-Source-Software sind das Linux Betriebssystem und der Firefox Web-Browser. Open Source im weiteren Sinne ist ein von Menschen getragenes Phänomen, das uns ungeahnte Möglichkeiten der weltweiten Zusammenarbeit sowie neue Geschäftsmodelle gegeben hat.