Addiction and Entrepreneurship
Could one become addicted to the idea of being an entrepreneur?
Countries vary in terms of how their people view entrepreneurs and entrepreneurship as a career path. In some places, entrepreneurship may be viewed negatively or associated with corruption. However, the prevailing view of the entrepreneur in Western Media is the heroic entrepreneur meme.
These figures are often portrayed as outsiders who manage to disrupt incumbencies and are associated with ideas such as democracy, freedom, and liberty.
The Rise of the "Wantrepreneur"
Perhaps the positive view of the practice has led to entrepreneurship becoming a desirable pursuit for individuals searching for a lifestyle and character to identify with. These types of individuals have been given names over time including:
- The "Wantrepreneur"
- The Veblenian Entrepreneur
- The "Untrepreneur"
These labels refer to individuals who pursue entrepreneurship not with true innovative intentions, a desire to solve a problem, or to satisfy a need—but solely for the look and lifestyle.
The Science of Addiction
Interestingly, a recent study examining the dark side of entrepreneurship (Spivack & McKelvie, 2021) shows that entrepreneurship can become an addiction. The long hours and repeated trials of the entrepreneur can lead to destructive addictive behaviours.
The study highlights several specific symptoms:
- Obsessive thoughts
- Withdrawal/engagement issues
- Self-worth struggles
- Tolerance
- Neglect and negative outcomes
The Controversy: The "high" of closing a deal or launching a product triggers the same dopamine loops as drugs, leading founders to neglect their health, families, and finances. In a way, the theory pathologizes ambition. Founders find it insulting to be compared to addicts, while mental health advocates argue that ignoring the "addictive" nature of the startup hustle leads to the high rates of depression and suicide in the industry.
The Theoretical Cross-Section: Addiction vs. Drive
1. Addiction vs. Achievement Motivation
While McClelland argues entrepreneurs are driven by a healthy "Need for Achievement," Addiction Theory suggests this drive can metastasize into pathology. Whereas a healthy achiever enjoys the outcome, an addicted entrepreneur becomes dependent on the striving itself, mirroring physiological tolerance.
2. Addiction vs. Uncertainty-Bearing Theory
Frank Knight’s Uncertainty-Bearing Theory posits entrepreneurs bear uninsurable risks for profit. Addiction Theory reframes this: the entrepreneur may be a dopamine-seeking agent addicted to the "rush" of uncertainty, requiring higher stakes to feel stimulated.
3. Addiction vs. Withdrawal of Status Respect
Hagen’s theory focuses on regaining lost social standing. Addiction Theory warns that this can lead to a hollow obsession with the social signal of disruption—being addicted to the image of entrepreneurship rather than the reality of value creation.
4. Addiction vs. Childhood Adversity Theory
Adversity Theory suggests hardship fosters resilience. However, the connection is double-edged: the same trauma that builds "grit" can create a void that entrepreneurial addiction attempts to fill, making the business a primary coping mechanism.
5. Addiction vs. Effectuation Theory
Where Sarasvathy’s Effectuation relies on adapting to contingencies, an addicted founder often fixates on a rigid, grandiose vision. While the effectual founder pivots based on feedback, the addicted founder obsessively clings to a high-risk fantasy.
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