This post was originally posted by John Lynn on his personal Las Vegas Startup Blog.
I know I’m kind of crazy to admit it, but one of my hobbies is to read venture capitalist and startup entrepreneur blogs. Maybe one day I’ll be brave enough to go after VC money for a startup company of my own. I haven’t needed to do so yet, but maybe one day. Until then, I’ll continue to enjoy it as a hobby.
As I mentioned in my last update, I’ve been doing what I can to help grow the internet startup eco-system in Las Vegas. As I continue to meet more Las Vegas entrepreneurs, I see all sorts of challenges and issues related to the Las Vegas startup eco-system. One of those issues is having more Fall Back Las Vegas Startup Companies.
This is one of the powerful features of a city with a strong startup environment. The numbers are against every startup company. If I remember right, it’s something like 9 of every 10 startup companies fails (and that might be being generous). That means the majority of new companies that are created are going to fail. We need more Las Vegas startup companies so that if and when a startup company fails the founders and employees of those companies know they have other companies they can go and work for.
One beauty of silicon valley and other startup hubs is that the culture accepts companies failing and there are other opportunities if and when it does fail. Certainly even in silicon valley they aren’t happy when the company they’re working for fails. However, at least when it does happen, they have a lot of other companies that will hire them. They don’t have to go start parking cars to pay the bills, but can move on to another startup company. Rinse and repeat.
Ok, I may be oversimplifying it a little bit, but the ability of a city to absorb talented people who worked for a startup company that’s failed is something I’d love to see happen in Las Vegas.
Creating a list of Las Vegas startup companies like we’ve started to do is the first step. Events like Startup Weekend Las Vegas and the Las Vegas Jellies are another step. Little by little, we’ll get there. The strip wasn’t built in a night. A Las Vegas startup eco-system won’t be either.