I think that many Developers with great capability don't even know the idea of freelancing or even if they have than it is very little and because of this reasons they are hired by people who don't even have the concept of programming but the other reason that also involves in this concept is that the developers are highly paid so they think that why should they indulge their time in freelancing, like i am a tech writer and i do freelancing and for this purpose you must have high speed connectivity internet like u verse internet so that you may not face any connectivity issues, any way as i am saying that i am a freelancer and i have to tell you that freelancing is way better than a regular job because you can carry your task at your own space and there is no workload burden and you can start your work when ever you like of-course keeping the project deadline in mind, in short you can be your own boss.

As to your clarification, I have often considered developing applications for the good of others - I have a running list of things I would like to build - but there is only so much time in the day, and having other obligations, in addition to a career, limit one's resources. Also, as someone with experience, my bar for an adequately developed application is much higher than someone starting out. To do it right can be daunting, achievable, but it would require a large commitment in time.

I recently read of a study as to what personality traits lead to career choices, and essentially, people looking for autonomy opting for entrepreneurship, and well as having less of a need for security, while those with a higher social bent go for leadership. That said, I've read that one of the better predictors of starting one's own company is receiving a windfall, implying that with security some will opt to strike out on their own.

For myself, there have been junctures where I considered starting my own company. The first was in the early 90's when recruiters were calling me continually, and I had a small side hobby business setting up peer-to-peer networks for small companies. For recruitment, the margin back then was 50% on a placement, meaning that once hired, the firm earned 50% of the rate of the employee. As for the other, I felt I did not have enough experience, and I definitely needed a steady income. Later, I realized that working for oneself requires one to be marketing oneself all the time, and even then, having one's own business come with risks, as well as making one's business one's life.

Later, it came down to joining startups. Not quite the same thing, but many of the same rules apply. The reason I would stick with working in corporations is a consistent six (6) figure income and reasonable work hours. At some startups, as well starting one's business, the opportunity cost is significant as startup pay can be terrible unless the company is established and funded, and could be less than zero if it is your own business. Both would require a large increase and inconsistency in hours.

I have a spouse that likes to see me at night, incur high fixed costs of living in Manhattan, and - did I mention? - always been leadership oriented.

It is not easy to just build any product and have it take off (i.e. big enough to give you recognition). It isn't build it and they'll come. These are many things: Pick the right product to build at the right moment (even you have the great idea, it may not take off because behind its time or ahead of its time). Even it is a free product, you need to find product market fit to have it "take off". Marketing, recruiting a team (as your product gets beyond one person), sales, promotion, legal, all takes time, resource, money, and skill beyond just software engineering. And often, it requires a heavy dose of luck also. :)

Because developing, creating a product, and running a business, are very different things.

Some people just to develop.

You are asking a right question and ultimately the correct behavior to exhibit. However the main constraint I guess is economical security. To take the risk, you need to start with reserves, which most people do not possess. And it is not their fault.

You need time and a lot of money to develop your own projects when you have a family to maintain. But you can do it in your free time🤷

Well, it's much less risky and stressful.

And in a big company, you can just code most of the time, without doing sales, marketing, legal stuff, customer support, etc.

There's also a lot to be learned from working with others, and working on very large projects that one couldn't do alone.

Edit

See also CodingHorror, obviously more qualified than me on this topic.

Not much of an individual motivation, but on a worldwide scale, a lot of things would be impossible if everyone worked on individual projects only. Think Google search, Deepmind, space ship control, mayor operating systems...

Despite these reasons, building your own projects solo is a great idea for some people and has its own advantages that you miss out on working in a big company.