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Serial Entrepreneur and Go BIG
Founder Wil Schroter's Blog!
The Most Important Assets you Lose when you're over 30
Author: Wil Schroter
Wednesday, June 20, 2007

When I was 19 years old, at the dawn of the Internet age, I couldn't figure out why "old people" (basically anyone over 30) didn't inherently understand the Web. 

Now I don't mean they couldn't understand it, I mean they didn't inherently get it.  The way when you were 22 you just knew what music was cool and when you're 42 you have no clue, you're still listening to your Winger cassettes.

You tend to lose important resources when you get older - your friends and your naivete.  You no longer get the benefit of having all of your friends do the homework for you.  You no longer get the benefit of trying new stuff because you don't know any better.

MySpace/Facebook - the Next Generational Gap

Let me illustrate my point by taking a look at the generational gap that MySpace and Facebook have created.

If I hop on Facebook and look at the number of people in the class of 1992 in my high school class that are on Facebook the answer is 1 - me.

If I hop on Facebook and look at the number of people in the Class of 2007 of my high school there are on Facebook the asnwer is 251 - all of them.

So why does this matter?  It matters because social networks are a major cultural phenomenon, and among my age group (32-year-olds) not a single person is on Facebook, while among people roughly half my age (holy hell that's scary to say) the adoption is nearly 100%.

That means people my age don't inherently get it.  Do we understand it?  Maybe.  Do we get it without even thinking about it?  Probably not.

The 251 people in the Class of 2007 aren't any brighter (well, I graduated at the bottom of the Class of 1992, so technically they are all brighter than me).  The 251 people of the Class of 2007 are fully immersed and trained in this cultural phenomenon because everyone else is doing it.  It's how they live. 

The benefit of having everyone around you "teach" you about this phenomena is that you can start to find opportunities within these social networks.  The opportunities seem obvious because you are living with them.  To the rest of us we're still trying to figure out what the hell you'd use Facebook for, like my "elders" couldn't figure out why you'd need a Web site in 1994.

The Power of Naivete

My second point is about the Power of Naivete, or why when you're young, you do important, innovative stuff not because you're so smart, but because you don't know any better.

Fifteen years ago whenever a new piece of hardware or software came out I got my hands on it and learned everything I could about it.  Every new Operating System, software upgrade, and new version of HTML.  I couldn't get enough.

Ultimately I wasted lots of time fiddling with stuff that never worked.  It's also how I learned everything I know without really trying to learn anything at all.

Nowadays I'm much smarter.  Windows Vista comes out - don't care.  I already know it'll drain any computer I put it on, require 100 updates, and I'll spend more time trying to get it to work than doing any work with it.  I have the benefit of experience.

What I'm going to lose is the benefit of learning.  My experience is going to let me avoid mistakes but at the same time avoid learning from those mistakes.

Being smarter and more experienced is very helpful, but blind curiosity without the benefit of knowing any better is incredibly powerful. 

It's Not too Late to be Young Again

Does this mean if you're over 30 you're totally screwed?  No.

It means that in order to stay at the top of your game, you need to recapture the essence of your youth.  I'm not talking about buying a Camaro and a jean jacket with a Metallica patch on the back. 

I'm talking about building a new group of young friends.  Listening and learning from them, not second-guessing their decisions and habits.  Realizing that they have invaluable first-hand experience that you don't, and cannot easily replicate.

I'm talking about pushing yourself back into the wilderness.  Running boldly into territory where you've fallen before, knowing you'll fall once again, yet realizing that this is what makes you stronger.

Being young is an incredibly powerful asset.  Take care not to lose it.




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Comments About this story
Another great post, Wil.  I've really enjoyed your blog over the past couple months I've been reading.

I think another asset many people lose is the willingness to take risks.  When you're young and naive, doing something new/different/crazy will give you another experience to learn from and may even win you some praise from your peers.  If you fail, you and your friends might have a good laugh about it and you gain a funny story to tell.  In the working world, no one wants to rock the boat since it's not often rewarded whether you learned some valuable lesson or not.  Startups are different, which explains why they're usually full of the young and the young at heart.
Posted by: Josh Christie 6/20/2007 at 10:51 AM

Very interesting and on point article!

I am 32 and have been doing Internet marketing for a decade.  I have forced myself to keep up to date on as many social networks, web 2.0 and other innovations as much as possible, but unlike for a 22 year old, it actually take real effort on my part.  I only have 5 friends on Facebook, about 7 on MySpace, about 8 on Going.com, etc.  BUT, I do have 150+ connections on LinkedIn.

I do think it is possible tog et the best of both worlds - take advantage of all your experience and knowledge, but also learn about new things.  But you do have to force yourself to dedicate time to learing about these things.

Recently I have been playing with a new social bookmarking site called www.dailyhub.com.  Next on the list for me is Twitter.  I just don't get it!

Posted by: Mike Volpe 6/20/2007 at 12:10 PM

@ Josh - I think I was talking about the risk factor in a blog post last week, so YES! this is another issue.

@ Mike - DailyHub.com rocks! (congrats dharmesh!).  I think the point is that you have to WORK to figure the stuff out now whereas ten years ago it was more self-evident.

Or said differently, I didn't have to wonder who Alice in Chains was in 1992.  I somehow just knew. 

Posted by: Wil S. 6/20/2007 at 1:51 PM

"That means people my age don't inherently get it.  Do we understand it?  Maybe.  Do we get it without even thinking about it?  Probably not."

Nah...you're way off base here.  It isn't that we don't get it, it's that we don't NEED it.  

I'm married, have two kids, a job, a boat, travel, run, bike, sail, hang out with friends that I live near or work with, coach my son's baseball team, and use LinkedIn for my "social network".  The last time I got together with my high school or college friends was at my 20th reunions...tell me why I would spend any time on Facebook trying to hang out with people I won't likely see for another 20 years?

This whole idea that older people who aren't on Facebook and MySpace "just don't get it", is great for copy, but full of holes when you really look at it carefully.

Cheers,
-- Frank Leahy



Posted by: Frank Leahy 6/20/2007 at 7:00 PM

Frank the point wasn't that you weren't on Facebook specifically.  It was a metaphor for missing upcoming trends that younger generations inherently "get" without trying.
Posted by: Wil Schroter 6/20/2007 at 8:52 PM

Very inspiring article. People always doubt what I do they tell me to stop dreaming but I feel like I have youth and experience already. Doesn't feel like you were a kid too long ago right? I guess it won't be long before Im 32 myself lol.
Posted by: William L. 6/20/2007 at 11:31 PM

Will, never say never.  When I was under thirty the phrase was "don't trust anyone over 30" which we believed but was naive. on our part

Your generation is making the same mistake all over again.  Now I will admit that the majority of people my age totally don't understand the net but don't make the erroneous assumption that all of us over 30 don't get it.

FWIW this over fifty guy had a facebook account within a week of it expanding beyond campuses.
Posted by: Rick M. 6/20/2007 at 11:42 PM

@ Rick - the point wasn't whether people that are older user Facebook (I'm 32 and I created a social network for Entrepreneurs here!).  The point was that we don't adopt these technologies without even thinking about it like we did when we were just a bit younger.

For some reason people got really hung up on my Facebook example.
Posted by: Wil Schroter 6/21/2007 at 12:26 AM

What a bunch of horsepoop.

Being nearly 50, having ridden the first communication wave called BULLETIN BOARD SYSTEMS, the second wave called HTTP (the internet existed long before http), and the third wave called CELL PHONES, I learned that "INHERENTLY GETTING IT" doesn't matter for squat.

The only true form of "GETTING IT" that matters can be summed up in three words and it applies across all generations, fads, and follies.

Follow the money.

That's it. Thats all there is too it. Give me a bleeding edge wave of any sort, comprised of a significant member class, young or old, and the only metric that matters is who makes the money.

The rest of this crap about how some group "GETS IT" inherently, is mental masturbation. The only person who truly "GETS IT" is the old fart VC who cashes the biggest checks, while getting the young and the dumb to paint the fence. Praise be unto him, Samuel Clemens was right. Let youth paint that fence.

As I grew older, and discarded the arrogance of youth, I changed my focus. The metric that matters most in terms of inherently "GETTING IT", is determined strictly by your position in the cash flow. I don't need a myspace reddit delicious facebook account to get that!

I need a dumb kid willing to take up front money for an idea, ready to give the baby away with the bath water, so that they can feverishly burn through a few years of their life, and in the end get their well deserved and fully diluted 2% return.

Give me that please, with sugar on top. The youthful are there to be exploited. Period. They beg for it with their ignorance, and arrogance. I for one am more than happy to oblige them. Why would I care about what they inherently GET?

I don't.

In fact I hope that every one of them I meet has this particular chip on their shoulder because it makes it all the more easy to steal the fruit of their labor when its the fruit that I "INHERENTLY GET".

Those that "GET THAT" are not the youthful group you speak of, nope, its those of us over 40, who have the money, and are facing the down hill part of our run that possess the clarity required to cash in on the youthful stupidity which is so much of a part of what they think "THEY GET".

Get that?

LOL all the way to the bank, baby....




Posted by: Catfish 6/21/2007 at 1:08 AM

Hey Catfish (I know, I know, you're not supposed to feed em), by the time all the money's pouring in... it's too late.

The people who "get it" are already there and have staked out their claim.  1-2 years after eBay launched, Pierre Omidyar was still hearing from VCs how his silly little auction site idea would never work.
Posted by: Shanti Braford 6/21/2007 at 8:30 PM

And then there are people who "get it" that by "inherently getting it" they leave a smear of data of themselves all over the web which they might regret sooner then later.

And thus ... they abstain.

See Facebook? There is a german counterpart/copy: StudiVZ. Guess how it is called by CS-students jokingly? StasiVZ. (Stasi - that was the secret service in the GDR).
Posted by: Leonidas 6/23/2007 at 9:35 AM

Great post.

all points are so true.

I m also getting near 30, so will use your advice and will try it out.


thanks :)
Posted by: Tony 6/23/2007 at 1:59 PM

To be an entrepreneur in the self-storage auction business AGE is not an issue, HOORAY!!!

My name is Barbara Rogers, author of How to Make Boxes of Cash with Self-Storage Auctions. I decided to create a book to assist anyone who is interested in running a flexible, profitable self-storage auction business out of their home. 

 

I felt it was important to share this valuable information with people, and to become the resource for those who need help getting it started.  My book is a short read and provides step by step instructions for anyone to follow to become a successful business owner running a self-storage auction business.

 

www.selfstorageauctioncash.com


Posted by: Barbara Rogers 6/23/2007 at 6:45 PM

I'm 26 - which roughly puts me halfway between yourself and the young cool hip crowd you speak of - and I certainly feel like I'm really missing something fundamental with myspace/facebook.

I have an account with both, and so do a few of my friends (although many don't), and I think I 'get it', though obviously not enough to motivate me to stay up until dawn tarting it up (unlike when I first acquired an infatuation for programming computers).

Is it self-promotion? Is it 'networking'? Is it simply fun to just have a place to post a bunch of stuff that you like? Point is, I'm young (although maybe not hip) and I struggle to see the point of it.

I hate to admit, but I think part of it might be a bit of technical snobbery; I know how sites like myspace and facebook work behind the scenes, and many of its users don't.

So anyway, I'm not yet convinced the whole web2.0 has anything to teach yet ;-)

Great post

(7 myspace friends, 1 facebook).
Posted by: Paul 6/25/2007 at 12:56 AM

@ Paul - the issue isn't about myspace/facebook although everyone has seemed to talk about that.  It's about the fact that younger generations often see opportunities that older generations don't because the older generations are more set in their ways.

It was the same way when PC's hit in the 80's and many people didn't want to embrace them.
Posted by: Wil S. 6/25/2007 at 1:39 PM

Great post.  I totally agree with all of it.  All of my contacts on places like facebook are those that I have made since I started work, I can't find any friends from school, most probably have "better things to do".  My 18 year old cousin however has hundred of friends, ranging from school to college to people kissed on holiday and their friends too.

The biggest difference is that now, at the age of 34, I am wiser and more secretive about who I share things with, I won't post pictures of "family" or friends on social networks as they are personal. If I meet somebody, the last thing I do is ask them to join my network on facebook, I am too busy trying to ascertain who they are!

One scary last thought, I have a blog community that is growing and I took a mid-life crisis gamble that is now paying off (leaving big job in London etc), I just reviewed and added a blog written by somebody born in 1995.  That makes me feel ancient! How about you?!
Posted by: KevinD 6/26/2007 at 6:03 AM

I disagree completly to your points around facebook. The reason no one in our age category has a profile there is because faceBook is marketed to college students (which has trancended to HS students). If you look at MySpace, the "all knowing" social network, over 52% of its members are over the age of 35 (see the Forbes Article from August 2006 http://money.cnn.com/magazines/fortune/fortune_archive/2006/09/04/8384727/index.htm )

So the issue there is not about people 30+ not taking advantage of social networks, but of the target audience of facebook.

I think that social networking has yet to really find great opportunities that impact people like ourselves, although the very site we are posting on is starting to change that. No longer am I interested in where the next party is - I'd rather know where the next (or for my case first) investor is.
Posted by: Joe S. 7/2/2007 at 1:11 PM

I have always stayed on top of excerpting and health issues. I body built for years. AFter i turned 35 I quit. I am trying to get fit again and having no one to support me get back up is very hard. help any advice or so.
Posted by: Robin P. 7/2/2007 at 2:24 PM

Hey, you really are a WISE man! Know why I'm happy to have you as a friend? Because you're exactly half my age (64/32 :-)
Posted by: A.M.Sall 7/2/2007 at 4:31 PM

Age has nothing to do with inherently understanding the Internet, being creative or otherwise.  I'm well over 40 when I started the first e-commerce company in 1995 when there was no shopping carts, double-click marketing or anything out of a can.  We had to invent it, write it from scratch.   What urges me are the investors, angels and business people who think that youth (age)  means creative, energentic, succeful.  During the 2000 dot.com runnup I saw more 21 year olds get zillions on stupid ideas that had not chance in succeeding, only to have fools the guys with the bucks.  Yet, when I came along with the predicessor to what is now You-Tube, could not raise a dime because I was over 40.  The investor community, for the most part, are the ones who need to wake up and smell the opportunities based on merrits, not age.
Posted by: Avram G. 7/3/2007 at 1:00 AM

I know this is all about entrepreneurship, but my issue about getting it involves my satisfaction, not my earnings.  I really felt sorry for Catfish.  He really doesn't get it, and I imagine has really few true friends.  I don't need to be in constant contact with my friends, but it's like we've never been apart when we're together.

I'll let the guessing game begin on my age.


Posted by: Jim N. 7/3/2007 at 1:48 PM

I read a great quote from F. Scott Fitzgerald. Approximately, "It is in the 30s that we want friends. In the 40s we learn that friends won't save us any more than love did."
Posted by: Barbara Saunders 8/22/2007 at 2:36 PM



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