Someone gave the same argument to me regarding Y Combinator - They only invest in 22-28 year olds... Which is statistically probably accurate, but here's a question that people don't think about: What do you think the average age of someone who applies to YC is?
The "discrimination" arguments toward older developers made me laugh. The sad thing about this article is that it seems personal - these specific guys that are mentioned were likely just not able to pitch their idea effectively, but blame it on the young kids "seducing" VCs with their "baby faces" and "fresh college degrees."
What, do they think that VC's just go, "Oh you sort of LOOK like Mark Zuckerberg. Take my money."
Just because someone says they "Love your idea" and that it is "Better than others they've seen" doesn't mean anything unless they write a check. My past startups pitched VCs who said this all the time (I was in my early 20s btw) - I used to think we were being discriminated for being young!
Btw, who do you think has a better chance of landing a deal with a large company - a 23 year old fresh out of college or a 50 year old with 20 years of business experience? Do you think that VC's are oblivious to that fact?
"He figured it was only a matter of time before nCrypted Cloud made them both very, very rich. The only thing they were up against was 50 years of accumulated bias."
LOL @ that statement. I've heard the same kind of statement countless times from startup founders of ALL ages.
It's a reference to something pg said about himself:
"""And Graham knew that he had his own biases. “I can be tricked by anyone who looks like Mark Zuckerberg. There was a guy once who we funded who was terrible. I said: ‘How could he be bad? He looks like Zuckerberg!’ ” """
And there's a difference between investing 15K in a startup and 1M+. I highly doubt anyone invests millions of dollars because a founder looks "young"