Or form school, in my case my co-founder is my neighbor, I know him since we were six, thats like 22 years ago.

The thing about close friends is that the friendship will help you a lot when discussing the business, there are a lot of business that break out because a bad relationship among founders.

Yeah, maybe I should give this a shot. The problem is that almost all of my college friends are also in grad school, so it would take some serious convincing....if only we didn't love science so much...

When we started Viaweb, I was done with grad school but Rtm and Trevor were still in it. That worked out ok. Grad student procrastination is actually quite a powerful force. It's ok if some founders are still in school, so long as (a) the ringleader isn't and (b) the ones still in school are willing to put a good deal of time into the startup.

You could wait a couple years, when it's a good bet that 90% of your college friends will want to leave grad school. They'll take much less convincing then.

In a couple of years that business idea will surely be done by someone else. I think that the best time for doing something is now.

On a related note, have you seen 'Startup.com'?