electric

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.

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

I agree with this from experience!

Time for a New Venture Animal: Ymwkcombinator

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.

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

http://en.wikipedia.org/wiki/Henry_David_Thoreau

The aftermath.

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

;)

That's Dr. Bezos.

Just technical enough...?

Brings to mind the oft-quoted "A little knowledge is a dangerous thing".

Awesome article. But I really don't see how Chumby and Buglabs products are open-source hardware. these products are primarily comprised of chips and components that are closed-source.

nickb=pg?

congrats paul!!!

who's the lucky girl?

Nasty move indeed!

How did you finance yourself (since you did it FT for 3.5 y)

Ha! That made me laugh!

Ok and I guess this is a lot different too... (the mgmt team bit)

Q: What does the Band look for in their initial review?

As with most venture funds, the Band seeks to invest in companies with a strong management team, unique technology and a large potential market.

"But that usually implies an individual person"

Not really... http://www.bandangels.com/ What's the difference between YC and these guys? Maybe in the amounts invested.

"With that you get a very different corporate culture and overall "climate" if you will. This makes it a lot easier for an engineer to start a company and not being pushed to the background 1 year later by his investor's buddies."

Hmm.... have you read ojbyrne's post: http://news.ycombinator.com/item?id=143269

?

"Isn't equity a big deal? I was employee #2 in a just funded startup. I ended up busting my ass the whole time only to realize that my equity was a fraction of what the founders took in."

To be fair if you were an employee, i.e. you got paid well I assume? there was less risk on your part relative to the founders. So your equity should be a fraction of what the founders took in. Why would it be otherwise?

So what happened to the Reddits and the Zenters?

Lions roaming free and now caged lions as well. Okay maybe a little richer than other caged lions ;).

So does this mean that Hacker News will soon be acquired by Google?

Interesting... I have never found any of their (37signals) products useful either.

>Any of you out there with passion in hardware? Perhaps a startup around hardware?

Yes.

>I think we have many software/web startups and not enough startups in hardware.

I think we have the right number. ;)

"Often it's the dropouts that start companies and the PhDs that join them."

I don't agree with your statement. I think we hear more stories of dropouts starting companies because they are rare and make interesting stories.

For instance: 1) http://en.wikipedia.org/wiki/John_Warnock 2) http://en.wikipedia.org/wiki/Irwin_M._Jacobs 3) http://en.wikipedia.org/wiki/Henry_Samueli

. .

"you're 30 and the hunger and energy is gone."

If anything you know a lot more in your domain of expertise and are in a better position to start a co. Plus you're hungrier -- grad students make very little money. A formula for startup success.

"Maybe we should redefine the Masters to include some research work."

Actually the Masters does in fact include research work. At least mine did.

"I became a scientist in order to have the freedom to work on problems which interest me."

I thought a more reasonable path to this would be to join a startup or three, get rich and then spend the rest of your life getting a PhD, working on interesting problems, etc. No? ;)