标题： 年龄标准化睾酮在男性初创公司创始人系列 B 中达到峰值 显示英文标题

标题： Age Normalized Testosterone Peaks at Series B for Male Startup Founders

摘要： 在对107名男性Y Combinator创始人的一项研究中，发现年龄标准化的睾酮水平与公司阶段之间存在令人惊讶的相关性。 睾酮是一种与自信、支配和动力相关的激素，在种子前到种子融资阶段增加了55.7%，在B轮融资阶段达到峰值，此时水平比种子前高99.6%。 B轮融资后，睾酮水平观察到下降了42.2%，这与皮质醇水平的上升同时发生。 这种年龄标准化的生物标志物分析支持了双激素假说，说明早期创业成功会增强支配感和自信心，而后期阶段的压力和紧张会削弱这些感受。 对数据的另一种解释，表明有进行纵向研究的机会，即睾酮水平较高的男性创始人更有可能筹集到更大规模的资金。 显示英文摘要

摘要： In a study of 107 male Y Combinator founders, a surprising correlation between age-normalized testosterone and company stage was uncovered. Testosterone, a hormone associated with confidence, dominance, and drive, increased by 55.7% from pre-seed to seed funding, peaking at the Series B stage, where levels were 99.6% higher than pre-seed. After series B funding, testosterone was observed to drop by 42.2%, coinciding with a spike in cortisol levels. This age-normalized biomarker analysis supports the dual-hormone hypothesis, illustrating that early startup success fosters feelings of dominance and confidence, while later-stage pressures and stresses erode these feelings. An alternative interpretation of the data, which suggests the opportunity for a longitudinal study, is that male founders with higher testosterone are more likely to raise larger rounds of funding.