Comments on: Why Aren’t there More Paul Grahams?

By: Austin Hill

Austin Hill — Sat, 26 Apr 2008 01:32:08 +0000

Great article Adam. I agree with you completely. I’ve been impressed with the YCombinator model – but trying to replicate it in Canada has some unique challenges.
Part of the reason the model works is the ecosystem that it operates out of the valley where the culture & environment provides a lot of mentoring & funding support for the type of innovation they fund.
Still it’s a model that is already affecting how we are doing angel investments & early stage VC work.

By: Alice Marshall

Alice Marshall — Mon, 21 Apr 2008 14:46:09 +0000

Off topic - congratulations, your book has been Slashdotted http://books.slashdot.org/article.pl?sid=08/04/21/1323233

By: Iang

Iang — Mon, 21 Apr 2008 05:59:04 +0000

VC has no root password that lets it bypass any rules of economics. As such, it is definitely crowded by people struck blind by the star effect. For some reason, people believe that is where the real power is, so when they do get rich, they feel as though the next step is to get a bit of that easy VC money.
Unfortunately, they are deluded. Just like their early richness, VC wealth is based on a lot of really hard work. And, unless you are very good at that area, you are going to make mistakes. It isn’t about inspiration, but the willingness to work through the details of dozens of ideas, then make the judgement call as to which to fund.
About the only thing one can say that is positive about this worse-than-lottery process is that as long as no-one is forced to bet their pension on it, it’s just another adult entertainment that should be legal.
Great post!