I think this study should ask founders their age. It has a huge impact, probably more than any factor they did ask.
I started my first startup at 20. We were bootstrapped, so we started at $0 salaries, and didn’t pay ourselves more than 1k/month for a few years. We all lived together somewhere cheap to keep rent low.
Now I have a family and stuff… it would be very hard to go back to living like that. So the range of salary options practically available to me is totally different, regardless of where (in the US) I live, how much I raise, etc.
I started my first startup at 20. We were bootstrapped, so we started at $0 salaries, and didn’t pay ourselves more than 1k/month for a few years. We all lived together somewhere cheap to keep rent low.
Now I have a family and stuff… it would be very hard to go back to living like that. So the range of salary options practically available to me is totally different, regardless of where (in the US) I live, how much I raise, etc.