Which startup (hf vs pe vs boutique)?

This is just out of curiousity.

What are the outlooks and usual way of going about startups of each PE, HF, or a boutique bank.

I know that HF probably has the most risk. PE needs tons $$$$$ from others to start.

Both seem very risky/expensive.

But how possible is it to do either if someone has worked up the ranks of finance, but not in BB?

For example, senior partner/MD at a top MM PE.

I think the least difficult one, understanding that they are all difficult, is starting a boutique that could in theory grow to MM, right?

I am just saying that because there are so many boutique banks, everywhere.

Any opinions?

Just a thought.