Bill Gates, Steve Jobs, and Mark Zuckerberg are three of the biggest role models for entrepreneurs. They are all famous for starting their companies in their early 20s and in many ways set the benchmark for what a successful entrepreneur looks like.
And yet, there is reason to believe that we’d be better off investing in older entrepreneurs. They are actually far more successful than younger ones, according to new research, which analysed the age of all business founders in the US in recent years and how well they did.
Young entrepreneurs may have some advantages. They are often native users of the most modern technology, are more flexible and do not have family commitments (and therefore inclined to take more risks). But a recent publication in the National Bureau of Economic Research shows that middle-aged entrepreneurs are far more successful than younger ones.