The Poisonous Myth of Hustle

We’ve all heard the story: two brilliant founders have an idea that will change the world. They gather a dedicated group of early employees/stock option holders around them and, through sheer grit, determination, and HUSTLE, they disrupt an industry and become billionaires in the process. The moral of the story: anyone with a good idea and the willingness to sacrifice everything on the altar of Hustle can become a success and the envy of their graduating class at the next reunion.

Except… that isn’t really true, is it? Every year, hundreds of thousands of technology startups fail, and of those that survive only a tiny percentage ever reach unicorn status. And those hustle-filled origin stories? Well, they’re not 100% factual, either: multiple studies and books have shown that luck plays a significant role in every company’s success, and while some founders are willing to acknowledge that fact, our cognitive biases push us toward crafting a narrative where our success was wholly due to our own hard work and perseverance in the face of adversity. So those founding myths skip the part where the brilliant youngsters met the right people or were born to the right parents and they focus instead on how they did it all themselves. “Luck is what happens when preparation meets opportunity!” they crow. But when that opportunity for the big pitch came, were they sharper for having averaged four hours of…