Lifestyle Company or Business. Definition
Conventional wisdom in tech: to be a startup you can’t by definition be a lifestyle company. A startup means fast growth, big ambitions.
A lifestyle company is a business run by its founders primarily to earn enough money to enjoy life and vacationing. A lifestyle company, unlike startups, do not have a goal of market domination or industry disruption.
This aim of sustaining a particular level of income to be able to enjoy a particular lifestyle, is what most smart entrepreneurs strive for. However this can be problematic for startups, because startups take investor money to grow big.
Investors are not interested in lifestyle companies, because they will not grow the investor money by x times.