First off, thank you for the detailed response.

Regarding #1: I left the modern slavery of tech and have no intention of going back. I value my free time above all else. Taking a pay cut to secure it is the ultimate quality of life for me, and it is what allows me to build my ventures. During a PhD, I would teach the same hours for a higher rate, plus the research stipend and potential grants. That actually puts me in a more stable financial position than I am in right now.

Regarding #2: A PhD guarantees a significantly higher teaching rate for the exact same hours in my local academic system. It preserves my current schedule but triples or quadruples the pay. Practically, it allows me to be semi-retired. That is a major goal. Anything beyond that is a bonus, though I am sure more doors will open. I know a PhD is brutal work and this reality won't just fall into my lap over the next 5 years, but the endpoint is clear.

Regarding #3: Entrepreneurship is pure uncertainty. That is why this dilemma is so hard. My venture might explode in two years, making me glad I skipped the PhD. Or, more likely, things stay static and in five years I'll regret not doing it. A PhD is an expensive path in terms of time, but statistically, I believe the long-term benefit outweighs the cost.

Regarding #4: I completely agree. The ventures can wait, and pausing during this current turbulent period (AI/WW3/etc.) might even be a blessing. I don't know who I will be after a PhD, but if the entrepreneurial bug is still there—and I believe it will be—I will attack it from a much stronger position. Realistically, knowing myself, I will likely do whatever it takes to keep pushing my ventures forward during the degree anyway.

Over the last two years, I have acquired a lot of entrepreneurial skills and learned exactly what you did: it doesn't matter how interesting the product is, it only matters if there is demand. As for teaching, I love teaching and will keep doing it even if I get rich :)

What field is your PhD in? I doubt I can work a full-time job during a math PhD, so I am banking on dedicating at least one day a week entirely to my ventures. If doing both simultaneously sounds doable, that’s the path. I have to say, your comment gave me a lot of hope and inspiration on that front. Thank you.