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This is very relevant research. I actually agree with the findings based on the people I know who have started technology companies.

I don't think it applies to the kind of people that YC is targeting - young, mobile, no dependents, able to live on very little $'s a year or the technology segment which is consumer web startups.


I'm currently reading The Knack. It is a great book on how to actually build a business instead of a get-rich-quick, build-to-flip scheme.

Talks about important things like cash flow. Ironically I don't know of many startup/business books that talk about such important practical stuff.

Highly recommended!


"Imagine what it would do to the VC business if the next hot company didn't take VC at all."

No need to imagine. Just look North -- this is reality.

Neither RIM (makers of the blackberry) nor Cognos (now IBM) took VC funding.

VC has imploded in Canada and startups are surviving as they have always.


RIM started in 1984 and Cognos in 1969 [!], so I'm not sure what conclusion you can draw from their early histories.

Also, RIM "was financed by Canadian institutional and venture capital investors in 1995" (http://en.wikipedia.org/wiki/Research_in_Motion).


>> 2.You can recruit better outside the fishbowl.

I agree with this from experience!


Time for a New Venture Animal: Ymwkcombinator


Good line! Count me in!


Question for anyone who has dealt with angels:

Is it normal for angels to take 600 hours to complete a deal -- from first meeting to signing on?


This is not a very good comparison.

Oil is a finite resource. You can increase infrastructure to get more but in the end there is no more than a finite amount of oil on the planet.

'Bandwidth' on the other hand is infrastructure dependent. Increase the number and width of pipes (or tubes! :) and you increase data throughput.


No resource is infinite. Technically, we could make more oil too. Just build some carbon lifeforms and give them the right environment for a few million years. In fact there is plenty of oil in the earth that we just can't get to because of the cost of retrieval.

The point is, once the cost of adding bandwidth exceeds the value to the market due to shortages of materials, energy, real estate, maintenance, etc you run into the same situation. Bandwidth availability has an s-curve like any other resource, and once you pass a certain threshold its just too expensive to add more pipes. It may not happen soon, but it will happen eventually. Its the same problem on a different time scale.


An example of that S-curve today - my only possible "broadband" connection these days is satellite. And I'm only 100 miles from Boston.


Irony is that Chang would've likely failed to get Thoreau to eat at his restaurant.



The aftermath.


I'm waiting for this one to show up here..."Studies find having startups makes people less happy."



Actually, I think I remember an article claiming that having a startup does make entrepreneurs happy. It's everything else (income, social life, stress level) that gets worse for entrepreneurs when they start their own business.

Working for myself has definitely lowered my income, at least for the short term. But I'm fairly happy.



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