Actually, older people have a higher chance of becoming or already being millionaires, as long as they've already been an entrepreneur for 20 years. While your attitude is helpful when you're first starting out ("it might take me 10 years to make millions, and that's fine!", which is the attitude I had/have, and it's important), the older people actually realize they don't have as much time, and will use their connections and experience to launch a company in 6 months. So, older entrepreneurs have three advantages--connections, experience, AND time pressure. So I think if one wants to compete with ALL entrepreneurs, including those that will inevitably try to copy your ideas and those started by non-technical founders who have resources, thinking that one has 20 years to become a millionaire is not going to be helpful. I think for a young person, having the ability to work on a new idea all day, PLUS thinking that they have only 3 months (the same a 60 year old would think) to launch a web service, would be a useful paradigm. The advantage of 24 year olds is that we don't have money tied up and don't have to shut it down if it doesn't work out after 3 months. Also, it's not like Y Combinator companies have something better to do with their time, and can continue to improve their idea even if it doesn't show any profits, taking advantage of publicity that 24 year olds can get just for being 24 years old. But, the idea must be done (in other words, released) as soon as possible--a week, a month, three months from now. So, while you take one idea and try to spend ten years to make it work, you have to be on the lookout for better opportunities that might only take you one week to do.