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What Was Paul Graham's View on Facebook and Twitter in 2009 · EconTalk

Graham on Start-ups, Innovation, and Creativity

Paul Graham, essayist, programmer and partner in the y-combinator talks with EconTalk host Russ Roberts about start-ups, innovation, and creativity. Graham draws on his experience as entrepreneur and investor to discuss the current state of the start-up world and how that world has changed due to improved technology that makes it easier to start a software…

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Russ Roberts

Notes

Who Is Paul Graham at 0:42

In 2009 Paul Graham was introduced on the EconTalk podcast as an essayist, a programmer, an author of the book Hackers and Painters , a programming language… Full answer
What Is Y Combinator at 1:00

In 2009, according to Paul Graham, Y Combinator (YC) was neither a venture capital firm nor an incubator. Full answer
How Successful Was Y Combinator Aiming to Become at 2:35

While investing 7 times the volume, and 1/100s the amount in comparison to a traditional venture capital firm, Y Combinator was not aiming to be as successful. Full answer
How Did Y Combinator Fund So Many Startups? at 3:21

Y Combinator standardized a traditionally slow and tedious process by applying batch processing and technology. Full answer
How Does Y Combinator Use Software to Screen Applicants at 5:03

With hundreds, and now thousands of applications each batch, Y Combinator uses an online submission form (no paper or presentation decks) to decide on a small… Full answer
What Happens at a Y Combinator Interview at 6:24

At the interview, Y Combinator partners talk to each startup for only 10 minutes, until they decide whether to fund a company or not. Full answer
How Successful Was the Very First Batch of Y Combinator at 7:55

The very first batch of Y Combinator included successful exists such as: Loopt , Reddit, and Justin.tv ), among others. Full answer
Why Are We Seeing Growing Number of Startups at 11:20

1. Moore's law has made computers (hardware) effectively free. 2. The internet has made promotion free. 3. Full answer
Why Do Angels Make Better Early Investors Than Venture Capitalists at 16:27

VC funds invest large amounts of other people's money, and often are run by money-managers who have to invest in entrepreneurs that look the part. Full answer
When Should You Launch Your Startup at 22:21

Launch something as soon as you have enough that even 10 people would use. Watch those people, then building what they need to exist. Full answer
Who Should Be Startup's Early Users at 23:19

Unlike large corporations who run off inertia, "clever and impoverished outsiders" are leaders, sophisticated and cheap, driven by a desire to innovate. Full answer
When Does Y Combinator End at 26:22

At the end of roughly 10 weeks, Y Combinator program culminates with a "Demo Day." Full answer
Did the Recession Have Any Impact on the Y Combinator Deal Flow at 29:49

During the recession, VCs sensed they could get better deals and got away with owning more shares than they normally would. Full answer
What Are the Similarities Between Hackers and Painters at 41:16

People who make stuff have a lot in common with one another, regardless of whatever other differences they might have. Full answer
In Which Ways Should Founders Be More Like Artists at 42:50

Artists who do no have money do not try to imitate wealth. Instead, they live in a way that is cheap, but not squalid . Full answer
What Makes for a Great Hacker at 45:30

In both programming and paining, there are people who are amazingly talented and can produce great work, as long as they know exactly what to do. Full answer
What Is One Problem That Every Hacker Struggles With at 48:50

Hackers are makers and they have to constantly fight a desire to just make cool stuff, instead of making what users actually want. Full answer
What Was Paul Graham's View on Facebook and Twitter in 2009 at 52:23

PG saw Facebook and Twitter as the new TV, an addiction that wasted time, ought to be kicked for a better hobby. He suggested it would make sense to avoid them. Full answer
What Is the Best Economic Policy for the United States at 56:03

Immigrants start a disproportionate number of startups, and startups lead to economic prosperity. Full answer
What Is the Best Way to Survive High-school at 57:51

If you compared high-school to someone's day job, you'd realize that the workload is pretty easy, it's not really demanding on your time, and you might even… Full answer

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