Final answer:
Older entrepreneurs may succeed more due to their extensive life experience, larger financial resources, and greater business acumen. They demonstrate a belief in their ventures by investing their own money and typically possess stronger networks and refined judgment skills.
Step-by-step explanation:
The question 'Why older entrepreneurs are more likely to succeed 2018 by Noam Wasserman?' implicates a discussion about the comparative success rates of entrepreneurs based on age. Research indicates that older entrepreneurs often have more life experience, business acumen, and financial resources to invest in their ventures, which may contribute to their higher likelihood of success. It is suggested that the experience gained over the years can translate into a better understanding of the market and an enhanced ability to navigate the challenges of starting and managing a new business.
A pertinent observation made by Noam Wasserman encapsulates that founders who put their own money into their startup demonstrate a belief in its prospects. This action is often more viable for older entrepreneurs who have had more time to accumulate personal wealth. Moreover, they may benefit from a more robust network and refined judgment to make strategic decisions. Meanwhile, younger entrepreneurs might face challenges such as limited resources and a lack of experience, making it harder to succeed.
In addition, changes in the average age of corporate executives, with a decrease from 59 years old in 1980 to 54 years in 2008, hint at a shifting tendency for younger professionals to attain positions of influence. Despite this, it does not negate the potential advantages older entrepreneurs can leverage. The correlation between age and entrepreneurial success is a topic that covers various factors including experience, network reach, and risk assessment abilities enabled by longer term perspectives.