Sam Parr, the founder of The Hustle and co-host of the My First Million podcast, has launched a private community for high-growth startup founders and CEOs called Hampton. While the idea of a peer-based membership network for high-stress, high-stakes roles may seem appealing, the requirements for membership exclude a large percentage of eligible founders. As a critical article, this piece will explore the drawbacks of such a private community and why Sam Parr should have put his talents towards something more innovative and inclusive for all people.
Hampton’s requirements for membership are strictly limited to individuals with at least $1 million in revenue, $3 million in funding, or sold a company for $5 million+. This means that founders who don’t meet these requirements are excluded from a community that could potentially help them grow their business. The barrier to entry is not just about money, but also about Hampton’s team vetting all applications strictly, with less than 8% of applicants being accepted. Additionally, the community is limited to 700 members, making it even more exclusive.
If we consider official statistics for the total percentage of eligible founders based on Hampton’s requirements, out of all the founders who launch a startup or already have a running business, the number of eligible candidates is significantly lower than the number of excluded candidates. In other words, Hampton’s private community excludes a large percentage of founders who could benefit from a supportive community of peers who understand the high-stress and high-stakes job of leading a startup.
Furthermore, the community’s focus on revenue and funding as requirements for membership perpetuates the myth that successful startups are only about money. It ignores the fact that startups can be successful and have a positive impact without necessarily generating millions of dollars in revenue or securing millions of dollars in funding.
The exclusive nature of Hampton’s private community is a problem because it limits access to resources and opportunities for those who are not already part of the inner circle. It also perpetuates a culture of exclusivity in the startup world that goes against the values of inclusivity and community that are essential to the success of any startup.
While Hampton’s private community may offer some benefits to its members, its exclusionary nature goes against the values of inclusivity and community that are essential to the success of any startup. Instead of creating a private community for high-growth startup founders and CEOs, Sam Parr could have put his talents towards something more innovative and inclusive for all people, especially now that AI technology is advancing more every day. In conclusion, while Hampton may seem appealing to some, its exclusivity and focus on revenue and funding as requirements for membership do more harm than good to the startup ecosystem.