I don't have rich parents and I'm not a successful startup founder. I guess this confirms it!
Joking aside, I don't think it's just about the money or the safety net -- most parents can afford to support their kids for a few years after college. I think the biggest advantage is an understanding for entrepreneurial spirit.
When I started my business (not a startup), my biggest problem was having no role model and having no-one I could have asked for advise. I quickly made more money than my parents, but I still had no idea how expensive everything else would be. When I talked to anyone I knew about my expenses, they were all freaking out how much money I was paying my employees. I was extremely reluctant to pay an accountant (why throw away 1000€ a year when I can do it myself!), or even to hire someone to clean the office. The frugality I learned from my parents is not something that's useful when running a business.
If your parents are "rich", chances are they are entrepreneurs of some kind themselves, and they can mentor you, which is a huge advantage.
> most parents can afford to support their kids for a few years after college
Are you sure about that? And even if it's true for most, how many exceptions are you willing to allow before you'll consider that lack of a safety net is a real limitation?
> If your parents are "rich", chances are they are entrepreneurs of some kind themselves
That statement also seems "lightly supported" to put it mildly. What about doctors, lawyers, MBAs, people who inherited, people who had seven-figure years at a MAGMA, etc.? In fact, let's focus on that last one. It's well known that Microsoft has created thousands of millionaires. A mere handful were entrepreneurs. Most were regular employees who drew generous regular paychecks and also had some stock/options. A minority even of those took much risk working for Microsoft before it was already a big company. Ditto Google/Alphabet, ditto Amazon, ditto Facebook/Meta. They're all minting hundreds of new millionaires every month, and none of those are entrepreneurs. I think your sample might be a bit skewed.
Joking aside, I don't think it's just about the money or the safety net -- most parents can afford to support their kids for a few years after college. I think the biggest advantage is an understanding for entrepreneurial spirit.
When I started my business (not a startup), my biggest problem was having no role model and having no-one I could have asked for advise. I quickly made more money than my parents, but I still had no idea how expensive everything else would be. When I talked to anyone I knew about my expenses, they were all freaking out how much money I was paying my employees. I was extremely reluctant to pay an accountant (why throw away 1000€ a year when I can do it myself!), or even to hire someone to clean the office. The frugality I learned from my parents is not something that's useful when running a business.
If your parents are "rich", chances are they are entrepreneurs of some kind themselves, and they can mentor you, which is a huge advantage.