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<html><head><title>Apple's Mistake</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
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<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
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</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc3b><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc3b border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/apple-s-mistake-2.gif" width="129" height="18" border="0" hspace="0" vspace="0" alt="Apple's Mistake" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
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<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
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height=15 width=1><font size=2>
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<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
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+
></tr>
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</table>
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<p>
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| 13 |
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November 2009<br /><br />I don't think Apple realizes how badly the App Store approval process
|
| 14 |
+
is broken. Or rather, I don't think they realize how much it matters
|
| 15 |
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that it's broken.<br /><br />The way Apple runs the App Store has harmed their reputation with
|
| 16 |
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programmers more than anything else they've ever done.
|
| 17 |
+
Their reputation with programmers used to be great.
|
| 18 |
+
It used to be the most common complaint you heard
|
| 19 |
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about Apple was that their fans admired them too uncritically.
|
| 20 |
+
The App Store has changed that. Now a lot of programmers
|
| 21 |
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have started to see Apple as evil.<br /><br />How much of the goodwill Apple once had with programmers have they
|
| 22 |
+
lost over the App Store? A third? Half? And that's just so far.
|
| 23 |
+
The App Store is an ongoing karma leak.<br /><br /><center>* * *</center><br /><br />How did Apple get into this mess? Their fundamental problem is
|
| 24 |
+
that they don't understand software.<br /><br />They treat iPhone apps the way they treat the music they sell through
|
| 25 |
+
iTunes. Apple is the channel; they own the user; if you want to
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| 26 |
+
reach users, you do it on their terms. The record labels agreed,
|
| 27 |
+
reluctantly. But this model doesn't work for software. It doesn't
|
| 28 |
+
work for an intermediary to own the user. The software business
|
| 29 |
+
learned that in the early 1980s, when companies like VisiCorp showed
|
| 30 |
+
that although the words "software" and "publisher" fit together,
|
| 31 |
+
the underlying concepts don't. Software isn't like music or books.
|
| 32 |
+
It's too complicated for a third party to act as an intermediary
|
| 33 |
+
between developer and user. And yet that's what Apple is trying
|
| 34 |
+
to be with the App Store: a software publisher. And a particularly
|
| 35 |
+
overreaching one at that, with fussy tastes and a rigidly enforced
|
| 36 |
+
house style.<br /><br />If software publishing didn't work in 1980, it works even less now
|
| 37 |
+
that software development has evolved from a small number of big
|
| 38 |
+
releases to a constant stream of small ones. But Apple doesn't
|
| 39 |
+
understand that either. Their model of product development derives
|
| 40 |
+
from hardware. They work on something till they think it's finished,
|
| 41 |
+
then they release it. You have to do that with hardware, but because
|
| 42 |
+
software is so easy to change, its design can benefit from evolution.
|
| 43 |
+
The standard way to develop applications now is to launch fast and
|
| 44 |
+
iterate. Which means it's a disaster to have long, random delays
|
| 45 |
+
each time you release a new version.<br /><br />Apparently Apple's attitude is that developers should be more careful
|
| 46 |
+
when they submit a new version to the App Store. They would say
|
| 47 |
+
that. But powerful as they are, they're not powerful enough to
|
| 48 |
+
turn back the evolution of technology. Programmers don't use
|
| 49 |
+
launch-fast-and-iterate out of laziness. They use it because it
|
| 50 |
+
yields the best results. By obstructing that process, Apple is
|
| 51 |
+
making them do bad work, and programmers hate that as much as Apple
|
| 52 |
+
would.<br /><br />How would Apple like it if when they discovered a serious bug in
|
| 53 |
+
OS X, instead of releasing a software update immediately, they had
|
| 54 |
+
to submit their code to an intermediary who sat on it for a month
|
| 55 |
+
and then rejected it because it contained an icon they didn't like?<br /><br />By breaking software development, Apple gets the opposite of what
|
| 56 |
+
they intended: the version of an app currently available in the App
|
| 57 |
+
Store tends to be an old and buggy one. One developer told me:
|
| 58 |
+
<blockquote>
|
| 59 |
+
As a result of their process, the App Store is full of half-baked
|
| 60 |
+
applications. I make a new version almost every day that I release
|
| 61 |
+
to beta users. The version on the App Store feels old and crappy.
|
| 62 |
+
I'm sure that a lot of developers feel this way: One emotion is
|
| 63 |
+
"I'm not really proud about what's in the App Store", and it's
|
| 64 |
+
combined with the emotion "Really, it's Apple's fault."
|
| 65 |
+
</blockquote>
|
| 66 |
+
Another wrote:
|
| 67 |
+
<blockquote>
|
| 68 |
+
I believe that they think their approval process helps users by
|
| 69 |
+
ensuring quality. In reality, bugs like ours get through all the
|
| 70 |
+
time and then it can take 4-8 weeks to get that bug fix approved,
|
| 71 |
+
leaving users to think that iPhone apps sometimes just don't work.
|
| 72 |
+
Worse for Apple, these apps work just fine on other platforms
|
| 73 |
+
that have immediate approval processes.
|
| 74 |
+
</blockquote>
|
| 75 |
+
Actually I suppose Apple has a third misconception: that all the
|
| 76 |
+
complaints about App Store approvals are not a serious problem.
|
| 77 |
+
They must hear developers complaining. But partners and suppliers
|
| 78 |
+
are always complaining. It would be a bad sign if they weren't;
|
| 79 |
+
it would mean you were being too easy on them. Meanwhile the iPhone
|
| 80 |
+
is selling better than ever. So why do they need to fix anything?<br /><br />They get away with maltreating developers, in the short term, because
|
| 81 |
+
they make such great hardware. I just bought a new 27" iMac a
|
| 82 |
+
couple days ago. It's fabulous. The screen's too shiny, and the
|
| 83 |
+
disk is surprisingly loud, but it's so beautiful that you can't
|
| 84 |
+
make yourself care.<br /><br />So I bought it, but I bought it, for the first time, with misgivings.
|
| 85 |
+
I felt the way I'd feel buying something made in a country with a
|
| 86 |
+
bad human rights record. That was new. In the past when I bought
|
| 87 |
+
things from Apple it was an unalloyed pleasure. Oh boy! They make
|
| 88 |
+
such great stuff. This time it felt like a Faustian bargain. They
|
| 89 |
+
make such great stuff, but they're such assholes. Do I really want
|
| 90 |
+
to support this company?<br /><br /><center>* * *</center><br /><br />Should Apple care what people like me think? What difference does
|
| 91 |
+
it make if they alienate a small minority of their users?<br /><br />There are a couple reasons they should care. One is that these
|
| 92 |
+
users are the people they want as employees. If your company seems
|
| 93 |
+
evil, the best programmers won't work for you. That hurt Microsoft
|
| 94 |
+
a lot starting in the 90s. Programmers started to feel sheepish
|
| 95 |
+
about working there. It seemed like selling out. When people from
|
| 96 |
+
Microsoft were talking to other programmers and they mentioned where
|
| 97 |
+
they worked, there were a lot of self-deprecating jokes about having
|
| 98 |
+
gone over to the dark side. But the real problem for Microsoft
|
| 99 |
+
wasn't the embarrassment of the people they hired. It was the
|
| 100 |
+
people they never got. And you know who got them? Google and
|
| 101 |
+
Apple. If Microsoft was the Empire, they were the Rebel Alliance.
|
| 102 |
+
And it's largely because they got more of the best people that
|
| 103 |
+
Google and Apple are doing so much better than Microsoft today.<br /><br />Why are programmers so fussy about their employers' morals? Partly
|
| 104 |
+
because they can afford to be. The best programmers can work
|
| 105 |
+
wherever they want. They don't have to work for a company they
|
| 106 |
+
have qualms about.<br /><br />But the other reason programmers are fussy, I think, is that evil
|
| 107 |
+
begets stupidity. An organization that wins by exercising power
|
| 108 |
+
starts to lose the ability to win by doing better work. And it's
|
| 109 |
+
not fun for a smart person to work in a place where the best ideas
|
| 110 |
+
aren't the ones that win. I think the reason Google embraced "Don't
|
| 111 |
+
be evil" so eagerly was not so much to impress the outside world
|
| 112 |
+
as to inoculate themselves against arrogance.
|
| 113 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />That has worked for Google so far. They've become more
|
| 114 |
+
bureaucratic, but otherwise they seem to have held true to their
|
| 115 |
+
original principles. With Apple that seems less the case. When you
|
| 116 |
+
look at the famous
|
| 117 |
+
<a href="http://www.uriahcarpenter.info/1984.html">1984 ad</a>
|
| 118 |
+
now, it's easier to imagine Apple as the
|
| 119 |
+
dictator on the screen than the woman with the hammer.
|
| 120 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font>
|
| 121 |
+
In fact, if you read the dictator's speech it sounds uncannily like a
|
| 122 |
+
prophecy of the App Store.
|
| 123 |
+
<blockquote>
|
| 124 |
+
We have triumphed over the unprincipled dissemination of facts.<br /><br />We have created, for the first time in all history, a garden of
|
| 125 |
+
pure ideology, where each worker may bloom secure from the pests
|
| 126 |
+
of contradictory and confusing truths.
|
| 127 |
+
</blockquote>
|
| 128 |
+
The other reason Apple should care what programmers think of them
|
| 129 |
+
is that when you sell a platform, developers make or break you. If
|
| 130 |
+
anyone should know this, Apple should. VisiCalc made the Apple II.<br /><br />And programmers build applications for the platforms they use. Most
|
| 131 |
+
applications—most startups, probably—grow out of personal projects.
|
| 132 |
+
Apple itself did. Apple made microcomputers because that's what
|
| 133 |
+
Steve Wozniak wanted for himself. He couldn't have afforded a
|
| 134 |
+
minicomputer.
|
| 135 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font>
|
| 136 |
+
Microsoft likewise started out making interpreters
|
| 137 |
+
for little microcomputers because
|
| 138 |
+
Bill Gates and Paul Allen were interested in using them. It's a
|
| 139 |
+
rare startup that doesn't build something the founders use.<br /><br />The main reason there are so many iPhone apps is that so many programmers
|
| 140 |
+
have iPhones. They may know, because they read it in an article,
|
| 141 |
+
that Blackberry has such and such market share. But in practice
|
| 142 |
+
it's as if RIM didn't exist. If they're going to build something,
|
| 143 |
+
they want to be able to use it themselves, and that means building
|
| 144 |
+
an iPhone app.<br /><br />So programmers continue to develop iPhone apps, even though Apple
|
| 145 |
+
continues to maltreat them. They're like someone stuck in an abusive
|
| 146 |
+
relationship. They're so attracted to the iPhone that they can't
|
| 147 |
+
leave. But they're looking for a way out. One wrote:
|
| 148 |
+
<blockquote>
|
| 149 |
+
While I did enjoy developing for the iPhone, the control they
|
| 150 |
+
place on the App Store does not give me the drive to develop
|
| 151 |
+
applications as I would like. In fact I don't intend to make any
|
| 152 |
+
more iPhone applications unless absolutely necessary.
|
| 153 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font>
|
| 154 |
+
</blockquote>
|
| 155 |
+
Can anything break this cycle? No device I've seen so far could.
|
| 156 |
+
Palm and RIM haven't a hope. The only credible contender is Android.
|
| 157 |
+
But Android is an orphan; Google doesn't really care about it, not
|
| 158 |
+
the way Apple cares about the iPhone. Apple cares about the iPhone
|
| 159 |
+
the way Google cares about search.<br /><br /><center>* * *</center><br /><br />Is the future of handheld devices one locked down by Apple? It's
|
| 160 |
+
a worrying prospect. It would be a bummer to have another grim
|
| 161 |
+
monoculture like we had in the 1990s. In 1995, writing software
|
| 162 |
+
for end users was effectively identical with writing Windows
|
| 163 |
+
applications. Our horror at that prospect was the single biggest
|
| 164 |
+
thing that drove us to start building <a href="road.html">web apps</a>.<br /><br />At least we know now what it would take to break Apple's lock.
|
| 165 |
+
You'd have to get iPhones out of programmers' hands. If programmers
|
| 166 |
+
used some other device for mobile web access, they'd start to develop
|
| 167 |
+
apps for that instead.<br /><br />How could you make a device programmers liked better than the iPhone?
|
| 168 |
+
It's unlikely you could make something better designed. Apple
|
| 169 |
+
leaves no room there. So this alternative device probably couldn't
|
| 170 |
+
win on general appeal. It would have to win by virtue of some
|
| 171 |
+
appeal it had to programmers specifically.<br /><br />One way to appeal to programmers is with software. If you
|
| 172 |
+
could think of an application programmers had to have, but that
|
| 173 |
+
would be impossible in the circumscribed world of the iPhone,
|
| 174 |
+
you could presumably get them to switch.<br /><br />That would definitely happen if programmers started to use handhelds
|
| 175 |
+
as development machines—if handhelds displaced laptops the
|
| 176 |
+
way laptops displaced desktops. You need more control of a development
|
| 177 |
+
machine than Apple will let you have over an iPhone.<br /><br />Could anyone make a device that you'd carry around in your pocket
|
| 178 |
+
like a phone, and yet would also work as a development machine?
|
| 179 |
+
It's hard to imagine what it would look like. But I've learned
|
| 180 |
+
never to say never about technology. A phone-sized device that
|
| 181 |
+
would work as a development machine is no more miraculous by present
|
| 182 |
+
standards than the iPhone itself would have seemed by the standards
|
| 183 |
+
of 1995.<br /><br />My current development machine is a MacBook Air, which I use with
|
| 184 |
+
an external monitor and keyboard in my office, and by itself when
|
| 185 |
+
traveling. If there was a version half the size I'd prefer it.
|
| 186 |
+
That still wouldn't be small enough to carry around everywhere like
|
| 187 |
+
a phone, but we're within a factor of 4 or so. Surely that gap is
|
| 188 |
+
bridgeable. In fact, let's make it an
|
| 189 |
+
<a href="http://ycombinator.com/rfs5.html">RFS</a>. Wanted:
|
| 190 |
+
Woman with hammer.<br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 191 |
+
When Google adopted "Don't be evil," they were still so small
|
| 192 |
+
that no one would have expected them to be, yet.<br /><br />
|
| 193 |
+
[<a name="f2n"><font color=#000000>2</font></a>]
|
| 194 |
+
The dictator in the 1984 ad isn't Microsoft, incidentally;
|
| 195 |
+
it's IBM. IBM seemed a lot more frightening in those days, but
|
| 196 |
+
they were friendlier to developers than Apple is now.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 197 |
+
He couldn't even afford a <i>monitor</i>. That's why the Apple
|
| 198 |
+
I used a TV as a monitor.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 199 |
+
Several people I talked to mentioned how much they liked the
|
| 200 |
+
iPhone SDK. The problem is not Apple's products but their policies.
|
| 201 |
+
Fortunately policies are software; Apple can change them instantly
|
| 202 |
+
if they want to. Handy that, isn't it?<br /><br /><b>Thanks</b> to Sam Altman, Trevor Blackwell, Ross Boucher,
|
| 203 |
+
James Bracy, Gabor Cselle,
|
| 204 |
+
Patrick Collison, Jason Freedman, John Gruber, Joe Hewitt, Jessica Livingston,
|
| 205 |
+
Robert Morris, Teng Siong Ong, Nikhil Pandit, Savraj Singh, and Jared Tame for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://www.mroodles.com/hacking/apple_mistake_ru.php">Russian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'apple'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 241 |
+
</script>
|
| 242 |
+
<script type="text/javascript">
|
| 243 |
+
// Begin Store Generated Code
|
| 244 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 245 |
+
</script>
|
| 246 |
+
<script type="text/javascript">
|
| 247 |
+
// Begin Store Generated Code
|
| 248 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=apple&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 249 |
+
</script>
|
| 250 |
+
</html>
|
| 251 |
+
<!-- html104.prod.store.e1a.lumsb.com Sun Aug 24 02:50:55 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/arc.html
ADDED
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| 1 |
+
<html><head><title>Arc</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc1c5><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc1c5 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><a href="https://s.turbifycdn.com/aah/paulgraham/arc-12.gif"><img src="https://s.turbifycdn.com/aah/paulgraham/arc-13.gif" width="49" height="50" align="left" border="0" hspace="0" vspace="0" alt="Click to enlarge" /></a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="58" width="10" align="left" border="0" /><img src="https://s.turbifycdn.com/aah/paulgraham/arc-14.gif" width="31" height="18" border="0" hspace="0" vspace="0" alt="Arc" /><br /><br /><font size="2" face="verdana">Arc is a new dialect of Lisp we're working on. You can
|
| 4 |
+
find an early release and ask questions at
|
| 5 |
+
<a href="http://arclanguage.org">arclanguage.org</a>.
|
| 6 |
+
The Arc community is very newbie-friendly,
|
| 7 |
+
because all the users are newbies to some extent.<br /><br />To get an idea of where we eventually hope to take Arc,
|
| 8 |
+
see <a href ="popular.html">Being Popular</a>
|
| 9 |
+
and <a href="hundred.html">The Hundred-Year Language</a>.
|
| 10 |
+
<!-- We do now have a reasonably efficient Arc implementation,
|
| 11 |
+
written by Robert Morris and me on top of MzScheme.
|
| 12 |
+
The next step is to beat it into shape on some real projects.
|
| 13 |
+
The most interesting is <a href="http://news.ycombinator.com">Hacker
|
| 14 |
+
News</a>, which is written entirely in Arc, including the http
|
| 15 |
+
server. Among other things this allowed us to add a read-eval-print
|
| 16 |
+
loop (which I obviously can't link to) that we can use to modify
|
| 17 |
+
the server as it's running, without restarting it.<br /><br />When we release something, we'll set up a server where you'll be able to
|
| 18 |
+
get an Arc toplevel through Web forms.
|
| 19 |
+
Anyone who wants to try Arc will be able to see the latest version
|
| 20 |
+
without having to download or install anything.
|
| 21 |
+
If you'd like to try Arc, send an email to <a href="mailto:tryarc@paulgraham.com">tryarc@paulgraham.com</a>
|
| 22 |
+
and we'll notify you when there is something online to experiment with.<br /><br />When will that be? We have no idea. We reserve the right to take a
|
| 23 |
+
very long time. It's been almost 50 years since
|
| 24 |
+
McCarthy first <a href="rootsoflisp.html">described</a> Lisp.
|
| 25 |
+
Another 2 or 3 aren't going to kill
|
| 26 |
+
anyone. So please don't send us mail asking what
|
| 27 |
+
Arc's status is or when it will be done.
|
| 28 |
+
(When it's done, we'll tell you.)
|
| 29 |
+
--><br /><br /><br clear="all" /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://arclanguage.org/forum">Forum</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://ycombinator.com/arc/tut.txt">Tutorial</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://arclanguage.org/install">Get Arc</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="arc0.html">Arc's Out</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="arcchallenge.html">Take the Arc Challenge</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="core.html">First Priority: Core Language</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="arcfaq.html">Arc FAQ</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="helpus.html">Help Us</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="design.html">Design Philosophy</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="noop.html">Why Arc Isn't Especially Object-Oriented</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="vanlfsp.html">LFM and LFSP</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://www.archub.org/arcsug.txt">Ideas People Have Sent Us</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="arcold.html">Old Arc Stuff</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="8" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 30 |
+
<script type="text/javascript">
|
| 31 |
+
csell_env = 'ue1';
|
| 32 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 33 |
+
</script>
|
| 34 |
+
|
| 35 |
+
<script type="text/javascript">
|
| 36 |
+
function toOSTN(node){
|
| 37 |
+
if(node.hasAttributes()){
|
| 38 |
+
for (const attr of node.attributes) {
|
| 39 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 40 |
+
}
|
| 41 |
+
}
|
| 42 |
+
};
|
| 43 |
+
document.addEventListener('readystatechange', event => {
|
| 44 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 45 |
+
if (event.target.readyState === "interactive") {
|
| 46 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 47 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 48 |
+
toOSTN(fromOSYN[i]);
|
| 49 |
+
}
|
| 50 |
+
}
|
| 51 |
+
}
|
| 52 |
+
});
|
| 53 |
+
</script>
|
| 54 |
+
<script type="text/javascript">
|
| 55 |
+
// Begin Store Generated Code
|
| 56 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 57 |
+
</script>
|
| 58 |
+
<script type="text/javascript">
|
| 59 |
+
// Begin Store Generated Code
|
| 60 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 61 |
+
</script>
|
| 62 |
+
<script type="text/javascript">
|
| 63 |
+
// Begin Store Generated Code
|
| 64 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'arc'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 65 |
+
</script>
|
| 66 |
+
<script type="text/javascript">
|
| 67 |
+
// Begin Store Generated Code
|
| 68 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 69 |
+
</script>
|
| 70 |
+
<script type="text/javascript">
|
| 71 |
+
// Begin Store Generated Code
|
| 72 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=arc&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 73 |
+
</script>
|
| 74 |
+
</html>
|
| 75 |
+
<!-- html105.prod.store.e1b.lumsb.com Sun Aug 24 02:50:29 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/articles.html
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platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/before.html
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|
| 1 |
+
<html><head><title>Before the Startup</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebce3><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebce3 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/before-the-startup-4.gif" width="158" height="18" border="0" hspace="0" vspace="0" alt="Before the Startup" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
October 2014<br /><br /><i>(This essay is derived from a guest lecture in Sam Altman's <a
|
| 14 |
+
href="http://startupclass.samaltman.com/">startup class</a> at
|
| 15 |
+
Stanford. It's intended for college students, but much of it is
|
| 16 |
+
applicable to potential founders at other ages.)</i><br /><br />One of the advantages of having kids is that when you have to give
|
| 17 |
+
advice, you can ask yourself "what would I tell my own kids?" My
|
| 18 |
+
kids are little, but I can imagine what I'd tell them about startups
|
| 19 |
+
if they were in college, and that's what I'm going to tell you.<br /><br />Startups are very counterintuitive. I'm not sure why. Maybe it's
|
| 20 |
+
just because knowledge about them hasn't permeated our culture yet.
|
| 21 |
+
But whatever the reason, starting a startup is a task where you
|
| 22 |
+
can't always trust your instincts.<br /><br />It's like skiing in that way. When you first try skiing and you
|
| 23 |
+
want to slow down, your instinct is to lean back. But if you lean
|
| 24 |
+
back on skis you fly down the hill out of control. So part of
|
| 25 |
+
learning to ski is learning to suppress that impulse. Eventually
|
| 26 |
+
you get new habits, but at first it takes a conscious effort. At
|
| 27 |
+
first there's a list of things you're trying to remember as you
|
| 28 |
+
start down the hill.<br /><br />Startups are as unnatural as skiing, so there's a similar list for
|
| 29 |
+
startups. Here I'm going to give you the first part of it — the things
|
| 30 |
+
to remember if you want to prepare yourself to start a startup.<br /><br />
|
| 31 |
+
<b>Counterintuitive</b><br /><br />The first item on it is the fact I already mentioned: that startups
|
| 32 |
+
are so weird that if you trust your instincts, you'll make a lot
|
| 33 |
+
of mistakes. If you know nothing more than this, you may at least
|
| 34 |
+
pause before making them.<br /><br />When I was running Y Combinator I used to joke that our function
|
| 35 |
+
was to tell founders things they would ignore. It's really true.
|
| 36 |
+
Batch after batch, the YC partners warn founders about mistakes
|
| 37 |
+
they're about to make, and the founders ignore them, and then come
|
| 38 |
+
back a year later and say "I wish we'd listened."<br /><br />Why do the founders ignore the partners' advice? Well, that's the
|
| 39 |
+
thing about counterintuitive ideas: they contradict your intuitions.
|
| 40 |
+
They seem wrong. So of course your first impulse is to disregard
|
| 41 |
+
them. And in fact my joking description is not merely the curse
|
| 42 |
+
of Y Combinator but part of its raison d'etre. If founders' instincts
|
| 43 |
+
already gave them the right answers, they wouldn't need us. You
|
| 44 |
+
only need other people to give you advice that surprises you. That's
|
| 45 |
+
why there are a lot of ski instructors and not many running
|
| 46 |
+
instructors.
|
| 47 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />You can, however, trust your instincts about people. And in fact
|
| 48 |
+
one of the most common mistakes young founders make is not to
|
| 49 |
+
do that enough. They get involved with people who seem impressive,
|
| 50 |
+
but about whom they feel some misgivings personally. Later when
|
| 51 |
+
things blow up they say "I knew there was something off about him,
|
| 52 |
+
but I ignored it because he seemed so impressive."<br /><br />If you're thinking about getting involved with someone — as a
|
| 53 |
+
cofounder, an employee, an investor, or an acquirer — and you
|
| 54 |
+
have misgivings about them, trust your gut. If someone seems
|
| 55 |
+
slippery, or bogus, or a jerk, don't ignore it.<br /><br />This is one case where it pays to be self-indulgent. Work with
|
| 56 |
+
people you genuinely like, and you've known long enough to be sure.<br /><br />
|
| 57 |
+
<b>Expertise</b><br /><br />The second counterintuitive point is that it's not that important
|
| 58 |
+
to know a lot about startups. The way to succeed in a startup is
|
| 59 |
+
not to be an expert on startups, but to be an expert on your users
|
| 60 |
+
and the problem you're solving for them.
|
| 61 |
+
Mark Zuckerberg didn't succeed because he was an expert on startups.
|
| 62 |
+
He succeeded despite being a complete noob at startups, because he
|
| 63 |
+
understood his users really well.<br /><br />If you don't know anything about, say, how to raise an angel round,
|
| 64 |
+
don't feel bad on that account. That sort of thing you can learn
|
| 65 |
+
when you need to, and forget after you've done it.<br /><br />In fact, I worry it's not merely unnecessary to learn in great
|
| 66 |
+
detail about the mechanics of startups, but possibly somewhat
|
| 67 |
+
dangerous. If I met an undergrad who knew all about convertible
|
| 68 |
+
notes and employee agreements and (God forbid) class FF stock, I
|
| 69 |
+
wouldn't think "here is someone who is way ahead of their peers."
|
| 70 |
+
It would set off alarms. Because another of the characteristic
|
| 71 |
+
mistakes of young founders is to go through the motions of starting
|
| 72 |
+
a startup. They make up some plausible-sounding idea, raise money
|
| 73 |
+
at a good valuation, rent a cool office, hire a bunch of people.
|
| 74 |
+
From the outside that seems like what startups do. But the next
|
| 75 |
+
step after rent a cool office and hire a bunch of people is: gradually
|
| 76 |
+
realize how completely fucked they are, because while imitating all
|
| 77 |
+
the outward forms of a startup they have neglected the one thing
|
| 78 |
+
that's actually essential: making something people want.<br /><br />
|
| 79 |
+
<b>Game</b><br /><br />We saw this happen so often that we made up a name for it: playing
|
| 80 |
+
house. Eventually I realized why it was happening. The reason
|
| 81 |
+
young founders go through the motions of starting a startup is
|
| 82 |
+
because that's what they've been trained to do for their whole lives
|
| 83 |
+
up to that point. Think about what you have to do to get into
|
| 84 |
+
college, for example. Extracurricular activities, check. Even in
|
| 85 |
+
college classes most of the work is as artificial as running laps.<br /><br />I'm not attacking the educational system for being this way. There
|
| 86 |
+
will always be a certain amount of fakeness in the work you do when
|
| 87 |
+
you're being taught something, and if you measure their performance
|
| 88 |
+
it's inevitable that people will exploit the difference to the point
|
| 89 |
+
where much of what you're measuring is artifacts of the fakeness.<br /><br />I confess I did it myself in college. I found that in a lot of
|
| 90 |
+
classes there might only be 20 or 30 ideas that were the right shape
|
| 91 |
+
to make good exam questions. The way I studied for exams in these
|
| 92 |
+
classes was not (except incidentally) to master the material taught
|
| 93 |
+
in the class, but to make a list of potential exam questions and
|
| 94 |
+
work out the answers in advance. When I walked into the final, the
|
| 95 |
+
main thing I'd be feeling was curiosity about which of my questions
|
| 96 |
+
would turn up on the exam. It was like a game.<br /><br />It's not surprising that after being trained for their whole lives
|
| 97 |
+
to play such games, young founders' first impulse on starting a
|
| 98 |
+
startup is to try to figure out the tricks for winning at this new
|
| 99 |
+
game. Since fundraising appears to be the measure of success for
|
| 100 |
+
startups (another classic noob mistake), they always want to know what the
|
| 101 |
+
tricks are for convincing investors. We tell them the best way to
|
| 102 |
+
<a href="convince.html">convince investors</a> is to make a startup
|
| 103 |
+
that's actually doing well, meaning <a
|
| 104 |
+
href="growth.html">growing fast</a>, and then simply
|
| 105 |
+
tell investors so. Then they want to know what the tricks are for
|
| 106 |
+
growing fast. And we have to tell them the best way to do that is
|
| 107 |
+
simply to make something people want.<br /><br />So many of the conversations YC partners have with young founders
|
| 108 |
+
begin with the founder asking "How do we..." and the partner replying
|
| 109 |
+
"Just..."<br /><br />Why do the founders always make things so complicated? The reason,
|
| 110 |
+
I realized, is that they're looking for the trick.<br /><br />So this is the third counterintuitive thing to remember about
|
| 111 |
+
startups: starting a startup is where gaming the system stops
|
| 112 |
+
working. Gaming the system may continue to work if you go to work
|
| 113 |
+
for a big company. Depending on how broken the company is, you can
|
| 114 |
+
succeed by sucking up to the right people, giving the impression
|
| 115 |
+
of productivity, and so on.
|
| 116 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font>
|
| 117 |
+
But that doesn't work with startups.
|
| 118 |
+
There is no boss to trick, only users, and all users care about is
|
| 119 |
+
whether your product does what they want. Startups are as impersonal
|
| 120 |
+
as physics. You have to make something people want, and you prosper
|
| 121 |
+
only to the extent you do.<br /><br />The dangerous thing is, faking does work to some degree on investors.
|
| 122 |
+
If you're super good at sounding like you know what you're talking
|
| 123 |
+
about, you can fool investors for at least one and perhaps even two
|
| 124 |
+
rounds of funding. But it's not in your interest to. The company
|
| 125 |
+
is ultimately doomed. All you're doing is wasting your own time
|
| 126 |
+
riding it down.<br /><br />So stop looking for the trick. There are tricks in startups, as
|
| 127 |
+
there are in any domain, but they are an order of magnitude less
|
| 128 |
+
important than solving the real problem. A founder who knows nothing
|
| 129 |
+
about fundraising but has made something users love will have an
|
| 130 |
+
easier time raising money than one who knows every trick in the
|
| 131 |
+
book but has a flat usage graph. And more importantly, the founder
|
| 132 |
+
who has made something users love is the one who will go on to
|
| 133 |
+
succeed after raising the money.<br /><br />Though in a sense it's bad news in that you're deprived of one of
|
| 134 |
+
your most powerful weapons, I think it's exciting that gaming the
|
| 135 |
+
system stops working when you start a startup. It's exciting that
|
| 136 |
+
there even exist parts of the world where you win by doing good
|
| 137 |
+
work. Imagine how depressing the world would be if it were all
|
| 138 |
+
like school and big companies, where you either have to spend a lot
|
| 139 |
+
of time on bullshit things or lose to people who do.
|
| 140 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font>
|
| 141 |
+
I would
|
| 142 |
+
have been delighted if I'd realized in college that there were parts
|
| 143 |
+
of the real world where gaming the system mattered less than others,
|
| 144 |
+
and a few where it hardly mattered at all. But there are, and this
|
| 145 |
+
variation is one of the most important things to consider when
|
| 146 |
+
you're thinking about your future. How do you win in each type of
|
| 147 |
+
work, and what would you like to win by doing?
|
| 148 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font><br /><br />
|
| 149 |
+
<b>All-Consuming</b><br /><br />That brings us to our fourth counterintuitive point: startups are
|
| 150 |
+
all-consuming. If you start a startup, it will take over your life
|
| 151 |
+
to a degree you cannot imagine. And if your startup succeeds, it
|
| 152 |
+
will take over your life for a long time: for several years at the
|
| 153 |
+
very least, maybe for a decade, maybe for the rest of your working
|
| 154 |
+
life. So there is a real opportunity cost here.<br /><br />Larry Page may seem to have an enviable life, but there are aspects
|
| 155 |
+
of it that are unenviable. Basically at 25 he started running as
|
| 156 |
+
fast as he could and it must seem to him that he hasn't stopped to
|
| 157 |
+
catch his breath since. Every day new shit happens in the Google
|
| 158 |
+
empire that only the CEO can deal with, and he, as CEO, has to deal
|
| 159 |
+
with it. If he goes on vacation for even a week, a whole week's
|
| 160 |
+
backlog of shit accumulates. And he has to bear this uncomplainingly,
|
| 161 |
+
partly because as the company's daddy he can never show fear or
|
| 162 |
+
weakness, and partly because billionaires get less than zero sympathy
|
| 163 |
+
if they talk about having difficult lives. Which has the strange
|
| 164 |
+
side effect that the difficulty of being a successful startup founder
|
| 165 |
+
is concealed from almost everyone except those who've done it.<br /><br />Y Combinator has now funded several companies that can be called
|
| 166 |
+
big successes, and in every single case the founders say the same
|
| 167 |
+
thing. It never gets any easier. The nature of the problems change.
|
| 168 |
+
You're worrying about construction delays at your London office
|
| 169 |
+
instead of the broken air conditioner in your studio apartment.
|
| 170 |
+
But the total volume of worry never decreases; if anything it
|
| 171 |
+
increases.<br /><br />Starting a successful startup is similar to having kids in that
|
| 172 |
+
it's like a button you push that changes your life irrevocably.
|
| 173 |
+
And while it's truly wonderful having kids, there are a lot of
|
| 174 |
+
things that are easier to do before you have them than after. Many
|
| 175 |
+
of which will make you a better parent when you do have kids. And
|
| 176 |
+
since you can delay pushing the button for a while, most people in
|
| 177 |
+
rich countries do.<br /><br />Yet when it comes to startups, a lot of people seem to think they're
|
| 178 |
+
supposed to start them while they're still in college. Are you
|
| 179 |
+
crazy? And what are the universities thinking? They go out of
|
| 180 |
+
their way to ensure their students are well supplied with contraceptives,
|
| 181 |
+
and yet they're setting up entrepreneurship programs and startup
|
| 182 |
+
incubators left and right.<br /><br />To be fair, the universities have their hand forced here. A lot
|
| 183 |
+
of incoming students are interested in startups. Universities are,
|
| 184 |
+
at least de facto, expected to prepare them for their careers. So
|
| 185 |
+
students who want to start startups hope universities can teach
|
| 186 |
+
them about startups. And whether universities can do this or not,
|
| 187 |
+
there's some pressure to claim they can, lest they lose applicants
|
| 188 |
+
to other universities that do.<br /><br />Can universities teach students about startups? Yes and no. They
|
| 189 |
+
can teach students about startups, but as I explained before, this
|
| 190 |
+
is not what you need to know. What you need to learn about are the
|
| 191 |
+
needs of your own users, and you can't do that until you actually
|
| 192 |
+
start the company.
|
| 193 |
+
<font color=#999999>[<a href="#f5n"><font color=#999999>5</font></a>]</font>
|
| 194 |
+
So starting a startup is intrinsically
|
| 195 |
+
something you can only really learn by doing it. And it's impossible
|
| 196 |
+
to do that in college, for the reason I just explained: startups
|
| 197 |
+
take over your life. You can't start a startup for real as a
|
| 198 |
+
student, because if you start a startup for real you're not a student
|
| 199 |
+
anymore. You may be nominally a student for a bit, but you won't even
|
| 200 |
+
be that for long.
|
| 201 |
+
<font color=#999999>[<a href="#f6n"><font color=#999999>6</font></a>]</font><br /><br />Given this dichotomy, which of the two paths should you take? Be
|
| 202 |
+
a real student and not start a startup, or start a real startup and
|
| 203 |
+
not be a student? I can answer that one for you. Do not start a
|
| 204 |
+
startup in college. How to start a startup is just a subset of a
|
| 205 |
+
bigger problem you're trying to solve: how to have a good life.
|
| 206 |
+
And though starting a startup can be part of a good life for a lot
|
| 207 |
+
of ambitious people, age 20 is not the optimal time to do it.
|
| 208 |
+
Starting a startup is like a brutally fast depth-first search. Most
|
| 209 |
+
people should still be searching breadth-first at 20.<br /><br />You can do things in your early 20s that you can't do as well before
|
| 210 |
+
or after, like plunge deeply into projects on a whim and travel
|
| 211 |
+
super cheaply with no sense of a deadline. For unambitious people,
|
| 212 |
+
this sort of thing is the dreaded "failure to launch," but for the
|
| 213 |
+
ambitious ones it can be an incomparably valuable sort of exploration.
|
| 214 |
+
If you start a startup at 20 and you're sufficiently successful,
|
| 215 |
+
you'll never get to do it.
|
| 216 |
+
<font color=#999999>[<a href="#f7n"><font color=#999999>7</font></a>]</font><br /><br />Mark Zuckerberg will never get to bum around a foreign country. He
|
| 217 |
+
can do other things most people can't, like charter jets to fly him
|
| 218 |
+
to foreign countries. But success has taken a lot of the serendipity
|
| 219 |
+
out of his life. Facebook is running him as much as he's running
|
| 220 |
+
Facebook. And while it can be very cool to be in the grip of a
|
| 221 |
+
project you consider your life's work, there are advantages to
|
| 222 |
+
serendipity too, especially early in life. Among other things it
|
| 223 |
+
gives you more options to choose your life's work from.<br /><br />There's not even a tradeoff here. You're not sacrificing anything
|
| 224 |
+
if you forgo starting a startup at 20, because you're more likely
|
| 225 |
+
to succeed if you wait. In the unlikely case that you're 20 and
|
| 226 |
+
one of your side projects takes off like Facebook did, you'll face
|
| 227 |
+
a choice of running with it or not, and it may be reasonable to run
|
| 228 |
+
with it. But the usual way startups take off is for the founders
|
| 229 |
+
to <a href="ds.html">make them</a> take off, and it's gratuitously
|
| 230 |
+
stupid to do that at 20.<br /><br />
|
| 231 |
+
<b>Try</b><br /><br />Should you do it at any age? I realize I've made startups sound
|
| 232 |
+
pretty hard. If I haven't, let me try again: starting a startup
|
| 233 |
+
is really hard. What if it's too hard? How can you tell if you're
|
| 234 |
+
up to this challenge?<br /><br />The answer is the fifth counterintuitive point: you can't tell. Your
|
| 235 |
+
life so far may have given you some idea what your prospects might
|
| 236 |
+
be if you tried to become a mathematician, or a professional football
|
| 237 |
+
player. But unless you've had a very strange life you haven't done
|
| 238 |
+
much that was <a href="really.html">like</a> being a startup founder.
|
| 239 |
+
Starting a startup will change you a lot. So what you're trying
|
| 240 |
+
to estimate is not just what you are, but what you could grow into,
|
| 241 |
+
and who can do that?<br /><br />For the past 9 years it was my job to predict whether people would
|
| 242 |
+
have what it took to start successful startups. It was easy to
|
| 243 |
+
tell how smart they were, and most people reading this will be over
|
| 244 |
+
that threshold. The hard part was predicting how <xa
|
| 245 |
+
href="relres.html">tough and ambitious</a> they would become. There
|
| 246 |
+
may be no one who has more experience at trying to predict that,
|
| 247 |
+
so I can tell you how much an expert can know about it, and the
|
| 248 |
+
answer is: not much. I learned to keep a completely open mind about
|
| 249 |
+
which of the startups in each batch would turn out to be the stars.<br /><br />The founders sometimes think they know. Some arrive feeling sure
|
| 250 |
+
they will ace Y Combinator just as they've aced every one of the (few,
|
| 251 |
+
artificial, easy) tests they've faced in life so far. Others arrive
|
| 252 |
+
wondering how they got in, and hoping YC doesn't discover whatever
|
| 253 |
+
mistake caused it to accept them. But there is little correlation
|
| 254 |
+
between founders' initial attitudes and how well their companies
|
| 255 |
+
do.<br /><br />I've read that the same is true in the military — that the
|
| 256 |
+
swaggering recruits are no more likely to turn out to be really
|
| 257 |
+
tough than the quiet ones. And probably for the same reason: that
|
| 258 |
+
the tests involved are so different from the ones in their previous
|
| 259 |
+
lives.<br /><br />If you're absolutely terrified of starting a startup, you probably
|
| 260 |
+
shouldn't do it. But if you're merely unsure whether you're up to
|
| 261 |
+
it, the only way to find out is to try. Just not now.<br /><br />
|
| 262 |
+
<b>Ideas</b><br /><br />So if you want to start a startup one day, what should you do in
|
| 263 |
+
college? There are only two things you need initially: an idea and
|
| 264 |
+
cofounders. And the m.o. for getting both is the same. Which leads
|
| 265 |
+
to our sixth and last counterintuitive point: that the way to get
|
| 266 |
+
startup ideas is not to try to think of startup ideas.<br /><br />I've written a whole <a href="startupideas.html">essay</a> on this,
|
| 267 |
+
so I won't repeat it all here. But the short version is that if
|
| 268 |
+
you make a conscious effort to think of startup ideas, the ideas
|
| 269 |
+
you come up with will not merely be bad, but bad and plausible-sounding,
|
| 270 |
+
meaning you'll waste a lot of time on them before realizing they're
|
| 271 |
+
bad.<br /><br />The way to come up with good startup ideas is to take a step back.
|
| 272 |
+
Instead of making a conscious effort to think of startup ideas,
|
| 273 |
+
turn your mind into the type that startup ideas form in without any
|
| 274 |
+
conscious effort. In fact, so unconsciously that you don't even
|
| 275 |
+
realize at first that they're startup ideas.<br /><br />This is not only possible, it's how Apple, Yahoo, Google, and
|
| 276 |
+
Facebook all got started. None of these companies were even meant
|
| 277 |
+
to be companies at first. They were all just side projects. The
|
| 278 |
+
best startups almost have to start as side projects, because great
|
| 279 |
+
ideas tend to be such outliers that your conscious mind would reject
|
| 280 |
+
them as ideas for companies.<br /><br />Ok, so how do you turn your mind into the type that startup ideas
|
| 281 |
+
form in unconsciously? (1) Learn a lot about things that matter,
|
| 282 |
+
then (2) work on problems that interest you (3) with people you
|
| 283 |
+
like and respect. The third part, incidentally, is how you get
|
| 284 |
+
cofounders at the same time as the idea.<br /><br />The first time I wrote that paragraph, instead of "learn a lot about
|
| 285 |
+
things that matter," I wrote "become good at some technology." But
|
| 286 |
+
that prescription, though sufficient, is too narrow. What was
|
| 287 |
+
special about Brian Chesky and Joe Gebbia was not that they were
|
| 288 |
+
experts in technology. They were good at design, and perhaps even
|
| 289 |
+
more importantly, they were good at organizing groups and making
|
| 290 |
+
projects happen. So you don't have to work on technology per se,
|
| 291 |
+
so long as you work on problems demanding enough to stretch you.<br /><br />What kind of problems are those? That is very hard to answer in
|
| 292 |
+
the general case. History is full of examples of young people who
|
| 293 |
+
were working on important problems that <a href="marginal.html">no
|
| 294 |
+
one else</a> at the time thought were important, and in particular
|
| 295 |
+
that their parents didn't think were important. On the other hand,
|
| 296 |
+
history is even fuller of examples of parents who thought their
|
| 297 |
+
kids were wasting their time and who were right. So how do you
|
| 298 |
+
know when you're working on real stuff?
|
| 299 |
+
<font color=#999999>[<a href="#f8n"><font color=#999999>8</font></a>]</font><br /><br />I know how <i>I</i> know. Real problems are interesting, and I am
|
| 300 |
+
self-indulgent in the sense that I always want to work on interesting
|
| 301 |
+
things, even if no one else cares about them (in fact, especially
|
| 302 |
+
if no one else cares about them), and find it very hard to make
|
| 303 |
+
myself work on boring things, even if they're supposed to be
|
| 304 |
+
important.<br /><br />My life is full of case after case where I worked on something just
|
| 305 |
+
because it seemed interesting, and it turned out later to be useful
|
| 306 |
+
in some worldly way. <a href="http://ycombinator.com/start.html">Y
|
| 307 |
+
Combinator itself</a> was something I only did because it seemed
|
| 308 |
+
interesting. So I seem to have some sort of internal compass that
|
| 309 |
+
helps me out. But I don't know what other people have in their
|
| 310 |
+
heads. Maybe if I think more about this I can come up with heuristics
|
| 311 |
+
for recognizing genuinely interesting problems, but for the moment
|
| 312 |
+
the best I can offer is the hopelessly question-begging advice that
|
| 313 |
+
if you have a taste for genuinely interesting problems, indulging
|
| 314 |
+
it energetically is the best way to prepare yourself for a startup.
|
| 315 |
+
And indeed, probably also the best way to live.
|
| 316 |
+
<font color=#999999>[<a href="#f9n"><font color=#999999>9</font></a>]</font><br /><br />But although I can't explain in the general case what counts as an
|
| 317 |
+
interesting problem, I can tell you about a large subset of them.
|
| 318 |
+
If you think of technology as something that's spreading like a
|
| 319 |
+
sort of fractal stain, every moving point on the edge represents
|
| 320 |
+
an interesting problem. So one guaranteed way to turn your mind
|
| 321 |
+
into the type that has good startup ideas is to get yourself to the
|
| 322 |
+
leading edge of some technology — to cause yourself, as Paul
|
| 323 |
+
Buchheit put it, to "live in the future." When you reach that point,
|
| 324 |
+
ideas that will seem to other people uncannily prescient will seem
|
| 325 |
+
obvious to you. You may not realize they're startup ideas, but
|
| 326 |
+
you'll know they're something that ought to exist.<br /><br />For example, back at Harvard in the mid 90s a fellow grad student
|
| 327 |
+
of my friends Robert and Trevor wrote his own voice over IP software.
|
| 328 |
+
He didn't mean it to be a startup, and he never tried to turn it
|
| 329 |
+
into one. He just wanted to talk to his girlfriend in Taiwan without
|
| 330 |
+
paying for long distance calls, and since he was an expert on
|
| 331 |
+
networks it seemed obvious to him that the way to do it was turn
|
| 332 |
+
the sound into packets and ship it over the Internet. He never did
|
| 333 |
+
any more with his software than talk to his girlfriend, but this
|
| 334 |
+
is exactly the way the best startups get started.<br /><br />So strangely enough the optimal thing to do in college if you want
|
| 335 |
+
to be a successful startup founder is not some sort of new, vocational
|
| 336 |
+
version of college focused on "entrepreneurship." It's the classic
|
| 337 |
+
version of college as education for its own sake. If you want to
|
| 338 |
+
start a startup after college, what you should do in college is
|
| 339 |
+
learn powerful things. And if you have genuine intellectual
|
| 340 |
+
curiosity, that's what you'll naturally tend to do if you just
|
| 341 |
+
follow your own inclinations.
|
| 342 |
+
<font color=#999999>[<a href="#f10n"><font color=#999999>10</font></a>]</font><br /><br />The component of entrepreneurship that really matters is domain
|
| 343 |
+
expertise. The way to become Larry Page was to become an expert
|
| 344 |
+
on search. And the way to become an expert on search was to be
|
| 345 |
+
driven by genuine curiosity, not some ulterior motive.<br /><br />At its best, starting a startup is merely an ulterior motive for
|
| 346 |
+
curiosity. And you'll do it best if you introduce the ulterior
|
| 347 |
+
motive toward the end of the process.<br /><br />So here is the ultimate advice for young would-be startup founders,
|
| 348 |
+
boiled down to two words: just learn.<br /><br /><br /><br /><br /><br /><br /><br />
|
| 349 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 350 |
+
Some founders listen more than others, and this tends to be a
|
| 351 |
+
<a href="word.html">predictor of success</a>. One of the things I
|
| 352 |
+
remember about the Airbnbs during YC is how intently they listened.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 353 |
+
In fact, this is one of the reasons startups are possible. If
|
| 354 |
+
big companies weren't plagued by internal inefficiencies, they'd
|
| 355 |
+
be proportionately more effective, leaving less room for startups.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 356 |
+
In a startup you have to spend a lot of time on <a
|
| 357 |
+
href="schlep.html">schleps</a>, but this sort of work is merely
|
| 358 |
+
unglamorous, not bogus.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 359 |
+
What should you do if your true calling is gaming the system?
|
| 360 |
+
Management consulting.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 361 |
+
The company may not be incorporated, but if you start to get
|
| 362 |
+
significant numbers of users, you've started it, whether you realize
|
| 363 |
+
it yet or not.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 364 |
+
It shouldn't be that surprising that colleges can't teach
|
| 365 |
+
students how to be good startup founders, because they can't teach
|
| 366 |
+
them how to be good employees either.<br /><br />The way universities "teach" students how to be employees is to
|
| 367 |
+
hand off the task to companies via internship programs. But you
|
| 368 |
+
couldn't do the equivalent thing for startups, because by definition
|
| 369 |
+
if the students did well they would never come back.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 370 |
+
Charles Darwin was 22 when he received an invitation to travel
|
| 371 |
+
aboard the HMS Beagle as a naturalist. It was only because he was
|
| 372 |
+
otherwise unoccupied, to a degree that alarmed his family, that he
|
| 373 |
+
could accept it. And yet if he hadn't we probably would not know
|
| 374 |
+
his name.<br /><br />[<a name="f8n"><font color=#000000>8</font></a>]
|
| 375 |
+
Parents can sometimes be especially conservative in this
|
| 376 |
+
department. There are some whose definition of important problems
|
| 377 |
+
includes only those on the critical path to med school.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 378 |
+
I did manage to think of a heuristic for detecting whether you
|
| 379 |
+
have a taste for interesting ideas: whether you find known boring
|
| 380 |
+
ideas intolerable. Could you endure studying literary theory, or
|
| 381 |
+
working in middle management at a large company?<br /><br />[<a name="f10n"><font color=#000000>10</font></a>]
|
| 382 |
+
In fact, if your goal is to start a startup, you can stick
|
| 383 |
+
even more closely to the ideal of a liberal education than past
|
| 384 |
+
generations have. Back when students focused mainly on getting a
|
| 385 |
+
job after college, they thought at least a little about how the
|
| 386 |
+
courses they took might look to an employer. And perhaps even
|
| 387 |
+
worse, they might shy away from taking a difficult class lest they
|
| 388 |
+
get a low grade, which would harm their all-important GPA. Good
|
| 389 |
+
news: users <a href="credentials.html">don't care</a> what your GPA
|
| 390 |
+
was. And I've never heard of investors caring either. Y Combinator
|
| 391 |
+
certainly never asks what classes you took in college or what grades
|
| 392 |
+
you got in them.<br /><br />
|
| 393 |
+
<b>Thanks</b> to Sam Altman, Paul Buchheit, John Collison, Patrick
|
| 394 |
+
Collison, Jessica Livingston, Robert Morris, Geoff Ralston, and
|
| 395 |
+
Fred Wilson for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://caramel.la/yousefales/DyfU-w5hH/qbl-almshrwa-alryady">Arabic Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 396 |
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<script type="text/javascript">
|
| 397 |
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csell_env = 'ue1';
|
| 398 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
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| 399 |
+
</script>
|
| 400 |
+
|
| 401 |
+
<script type="text/javascript">
|
| 402 |
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function toOSTN(node){
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| 403 |
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if(node.hasAttributes()){
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| 404 |
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for (const attr of node.attributes) {
|
| 405 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 406 |
+
}
|
| 407 |
+
}
|
| 408 |
+
};
|
| 409 |
+
document.addEventListener('readystatechange', event => {
|
| 410 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
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| 411 |
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if (event.target.readyState === "interactive") {
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| 412 |
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fromOSYN = document.getElementsByTagName('form');
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| 413 |
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| 414 |
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| 415 |
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}
|
| 416 |
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}
|
| 417 |
+
}
|
| 418 |
+
});
|
| 419 |
+
</script>
|
| 420 |
+
<script type="text/javascript">
|
| 421 |
+
// Begin Store Generated Code
|
| 422 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 423 |
+
</script>
|
| 424 |
+
<script type="text/javascript">
|
| 425 |
+
// Begin Store Generated Code
|
| 426 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 427 |
+
</script>
|
| 428 |
+
<script type="text/javascript">
|
| 429 |
+
// Begin Store Generated Code
|
| 430 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'before'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 431 |
+
</script>
|
| 432 |
+
<script type="text/javascript">
|
| 433 |
+
// Begin Store Generated Code
|
| 434 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 435 |
+
</script>
|
| 436 |
+
<script type="text/javascript">
|
| 437 |
+
// Begin Store Generated Code
|
| 438 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=before&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 439 |
+
</script>
|
| 440 |
+
</html>
|
| 441 |
+
<!-- html103.prod.store.e1b.lumsb.com Sun Aug 24 02:50:48 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/bel.html
ADDED
|
@@ -0,0 +1,49 @@
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|
| 1 |
+
<html><head><title>Bel</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc1c7><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc1c7 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/bel-5.gif" width="31" height="18" border="0" hspace="0" vspace="0" alt="Bel" /><br /><br /><font size="2" face="verdana">Oct 2019<br /><br />Bel is a spec for a new dialect of Lisp, written in itself. This should sound familiar to people who know about Lisp's origins, because it's <a href="rootsoflisp.html"><font color="#000099">the way Lisp began</font></a>.<br /><br />It consists of two text files meant to be read in parallel: a <a href="https://sep.turbifycdn.com/ty/cdn/paulgraham/bellanguage.txt?t=1688221954&"><font color="#000099">guide to the Bel language</font></a>, and the <a href="https://sep.turbifycdn.com/ty/cdn/paulgraham/bel.bel?t=1688221954&"><font color="#000099">Bel source</font></a>.<br /><br />For those who just want to see some code examples, there's a <a href="https://sep.turbifycdn.com/ty/cdn/paulgraham/belexamples.txt?t=1688221954&"><font color="#000099">file of those</font></a>. But of course the Bel source is also a code example, since it's written in itself.<br /><br />Considering the rate at which I was discovering bugs before publishing Bel, there are bound to be more remaining. So this first version is version C, after Cunningham's Law.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 4 |
+
<script type="text/javascript">
|
| 5 |
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csell_env = 'ue1';
|
| 6 |
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var storeCheckoutDomain = 'order.store.turbify.net';
|
| 7 |
+
</script>
|
| 8 |
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|
| 9 |
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<script type="text/javascript">
|
| 10 |
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function toOSTN(node){
|
| 11 |
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if(node.hasAttributes()){
|
| 12 |
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for (const attr of node.attributes) {
|
| 13 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 14 |
+
}
|
| 15 |
+
}
|
| 16 |
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};
|
| 17 |
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document.addEventListener('readystatechange', event => {
|
| 18 |
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if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
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|
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for (let i = 0; i < fromOSYN.length; i++) {
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| 22 |
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| 23 |
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}
|
| 24 |
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}
|
| 25 |
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}
|
| 26 |
+
});
|
| 27 |
+
</script>
|
| 28 |
+
<script type="text/javascript">
|
| 29 |
+
// Begin Store Generated Code
|
| 30 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 31 |
+
</script>
|
| 32 |
+
<script type="text/javascript">
|
| 33 |
+
// Begin Store Generated Code
|
| 34 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 35 |
+
</script>
|
| 36 |
+
<script type="text/javascript">
|
| 37 |
+
// Begin Store Generated Code
|
| 38 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'bel'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 39 |
+
</script>
|
| 40 |
+
<script type="text/javascript">
|
| 41 |
+
// Begin Store Generated Code
|
| 42 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 43 |
+
</script>
|
| 44 |
+
<script type="text/javascript">
|
| 45 |
+
// Begin Store Generated Code
|
| 46 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=bel&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 47 |
+
</script>
|
| 48 |
+
</html>
|
| 49 |
+
<!-- html107.prod.store.e1b.lumsb.com Sun Aug 24 02:50:29 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/best.html
ADDED
|
@@ -0,0 +1,404 @@
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| 1 |
+
<html><head><meta name="Keywords" content="" /><title>The Best Essay</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=9e2a65f3391b49><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#9e2a65f3391b49 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/the-best-essay-1.gif" width="121" height="18" border="0" hspace="0" vspace="0" alt="The Best Essay" /><br /><br /><font size="2" face="verdana">March 2024<br /><br />Despite its title this isn't meant to be the best essay. My goal
|
| 4 |
+
here is to figure out what the best essay would be like.<br /><br />It would be well-written, but you can write well about any topic.
|
| 5 |
+
What made it special would be what it was about.<br /><br />Obviously some topics would be better than others. It probably
|
| 6 |
+
wouldn't be about this year's lipstick colors. But it wouldn't be
|
| 7 |
+
vaporous talk about elevated themes either. A good essay has to be
|
| 8 |
+
surprising. It has to tell people something they don't already know.<br /><br />The best essay would be on the most important topic you could tell
|
| 9 |
+
people something surprising about.<br /><br />That may sound obvious, but it has some unexpected consequences.
|
| 10 |
+
One is that science enters the picture like an elephant stepping
|
| 11 |
+
into a rowboat. For example, Darwin first described the idea of
|
| 12 |
+
natural selection in an essay written in 1844.
|
| 13 |
+
Talk about an
|
| 14 |
+
important topic you could tell people something surprising about.
|
| 15 |
+
If that's the test of a great essay, this was surely the best one
|
| 16 |
+
written in 1844.
|
| 17 |
+
And indeed, the best possible essay at any given
|
| 18 |
+
time would usually be one describing the most important scientific
|
| 19 |
+
or technological discovery it was possible to make.
|
| 20 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />Another unexpected consequence: I imagined when I started writing
|
| 21 |
+
this that the best essay would be fairly timeless — that the best
|
| 22 |
+
essay you could write in 1844 would be much the same as the best
|
| 23 |
+
one you could write now. But in fact the opposite seems to be true.
|
| 24 |
+
It might be true that the best painting would be timeless in this
|
| 25 |
+
sense. But it wouldn't be impressive to write an essay introducing
|
| 26 |
+
natural selection now. The best essay <i>now</i> would be one describing
|
| 27 |
+
a great discovery we didn't yet know about.<br /><br />If the question of how to write the best possible essay reduces to
|
| 28 |
+
the question of how to make great discoveries, then I started with
|
| 29 |
+
the wrong question. Perhaps what this exercise shows is that we
|
| 30 |
+
shouldn't waste our time writing essays but instead focus on making
|
| 31 |
+
discoveries in some specific domain. But I'm interested in essays
|
| 32 |
+
and what can be done with them, so I want to see if there's some
|
| 33 |
+
other question I could have asked.<br /><br />There is, and on the face of it, it seems almost identical to the
|
| 34 |
+
one I started with. Instead of asking <i>what would the best essay
|
| 35 |
+
be?</i> I should have asked <i>how do you write essays well?</i> Though
|
| 36 |
+
these seem only phrasing apart, their answers diverge. The answer
|
| 37 |
+
to the first question, as we've seen, isn't really about essay
|
| 38 |
+
writing. The second question forces it to be.<br /><br />Writing essays, at its best, is a way of discovering ideas. How do
|
| 39 |
+
you do that well? How do you discover by writing?<br /><br />An essay should ordinarily start with what I'm going to call a
|
| 40 |
+
question, though I mean this in a very general sense: it doesn't
|
| 41 |
+
have to be a question grammatically, just something that acts like
|
| 42 |
+
one in the sense that it spurs some response.<br /><br />How do you get this initial question? It probably won't work to
|
| 43 |
+
choose some important-sounding topic at random and go at it.
|
| 44 |
+
Professional traders won't even trade unless they have what they
|
| 45 |
+
call an <i>edge</i> — a convincing story about why in some class of
|
| 46 |
+
trades they'll win more than they lose. Similarly, you shouldn't
|
| 47 |
+
attack a topic unless you have a way in — some new insight about
|
| 48 |
+
it or way of approaching it.<br /><br />You don't need to have a complete thesis; you just need some kind
|
| 49 |
+
of gap you can explore. In fact, merely having questions about
|
| 50 |
+
something other people take for granted can be edge enough.<br /><br />If you come across a question that's sufficiently puzzling, it could
|
| 51 |
+
be worth exploring even if it doesn't seem very momentous. Many an
|
| 52 |
+
important discovery has been made by pulling on a thread that seemed
|
| 53 |
+
insignificant at first. How can they <i>all</i> be finches?
|
| 54 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />Once you've got a question, then what? You start thinking out loud
|
| 55 |
+
about it. Not literally out loud, but you commit to a specific
|
| 56 |
+
string of words in response, as you would if you were talking. This
|
| 57 |
+
initial response is usually mistaken or incomplete. Writing converts
|
| 58 |
+
your ideas from vague to bad. But that's a step forward, because
|
| 59 |
+
once you can see the brokenness, you can fix it.<br /><br />Perhaps beginning writers are alarmed at the thought of starting
|
| 60 |
+
with something mistaken or incomplete, but you shouldn't be, because
|
| 61 |
+
this is why essay writing works. Forcing yourself to commit to some
|
| 62 |
+
specific string of words gives you a starting point, and if it's
|
| 63 |
+
wrong, you'll see that when you reread it. At least half of essay
|
| 64 |
+
writing is rereading what you've written and asking <i>is this correct
|
| 65 |
+
and complete?</i> You have to be very strict when rereading, not just
|
| 66 |
+
because you want to keep yourself honest, but because a gap between
|
| 67 |
+
your response and the truth is often a sign of new ideas to be
|
| 68 |
+
discovered.<br /><br />The prize for being strict with what you've written is not just
|
| 69 |
+
refinement. When you take a roughly correct answer and try to make
|
| 70 |
+
it exactly right, sometimes you find that you can't, and that the
|
| 71 |
+
reason is that you were depending on a false assumption. And when
|
| 72 |
+
you discard it, the answer turns out to be completely different.
|
| 73 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font><br /><br />Ideally the response to a question is two things: the first step
|
| 74 |
+
in a process that converges on the truth, and a source of additional
|
| 75 |
+
questions (in my very general sense of the word). So the process
|
| 76 |
+
continues recursively, as response spurs response.
|
| 77 |
+
<font color=#dddddd>[<a href="#f4n"><font color=#dddddd>4</font></a>]</font><br /><br />Usually there are several possible responses to a question, which
|
| 78 |
+
means you're traversing a tree. But essays are linear, not tree-shaped,
|
| 79 |
+
which means you have to choose one branch to follow at each point.
|
| 80 |
+
How do you choose? Usually you should follow whichever offers the
|
| 81 |
+
greatest combination of generality and novelty. I don't consciously
|
| 82 |
+
rank branches this way; I just follow whichever seems most exciting;
|
| 83 |
+
but generality and novelty are what make a branch exciting.
|
| 84 |
+
<font color=#dddddd>[<a href="#f5n"><font color=#dddddd>5</font></a>]</font><br /><br />If you're willing to do a lot of rewriting, you don't have to guess
|
| 85 |
+
right. You can follow a branch and see how it turns out, and if it
|
| 86 |
+
isn't good enough, cut it and backtrack. I do this all the time.
|
| 87 |
+
In this essay I've already cut a 17-paragraph subtree, in addition
|
| 88 |
+
to countless shorter ones. Maybe I'll reattach it at the end, or
|
| 89 |
+
boil it down to a footnote, or spin it off as its own essay; we'll
|
| 90 |
+
see.
|
| 91 |
+
<font color=#dddddd>[<a href="#f6n"><font color=#dddddd>6</font></a>]</font><br /><br />In general you want to be quick to cut. One of the most dangerous
|
| 92 |
+
temptations in writing (and in software and painting) is to keep
|
| 93 |
+
something that isn't right, just because it contains a few good bits
|
| 94 |
+
or cost you a lot of effort.<br /><br />The most surprising new question being thrown off at this point is
|
| 95 |
+
<i>does it really matter what the initial question is?</i> If the space
|
| 96 |
+
of ideas is highly connected, it shouldn't, because you should be
|
| 97 |
+
able to get from any question to the most valuable ones in a few
|
| 98 |
+
hops. And we see evidence that it's highly connected in the way,
|
| 99 |
+
for example, that people who are obsessed with some topic can turn
|
| 100 |
+
any conversation toward it. But that only works if you know where
|
| 101 |
+
you want to go, and you don't in an essay. That's the whole point.
|
| 102 |
+
You don't want to be the obsessive conversationalist, or all your
|
| 103 |
+
essays will be about the same thing.
|
| 104 |
+
<font color=#dddddd>[<a href="#f7n"><font color=#dddddd>7</font></a>]</font><br /><br />The other reason the initial question matters is that you usually
|
| 105 |
+
feel somewhat obliged to stick to it. I don't think about this when
|
| 106 |
+
I decide which branch to follow. I just follow novelty and generality.
|
| 107 |
+
Sticking to the question is enforced later, when I notice I've
|
| 108 |
+
wandered too far and have to backtrack. But I think this is
|
| 109 |
+
the optimal solution. You don't want the hunt for novelty and
|
| 110 |
+
generality to be constrained in the moment. Go with it and see what
|
| 111 |
+
you get.
|
| 112 |
+
<font color=#dddddd>[<a href="#f8n"><font color=#dddddd>8</font></a>]</font><br /><br />Since the initial question does constrain you, in the best case it
|
| 113 |
+
sets an upper bound on the quality of essay you'll write. If you
|
| 114 |
+
do as well as you possibly can on the chain of thoughts that follow
|
| 115 |
+
from the initial question, the initial question itself is the only
|
| 116 |
+
place where there's room for variation.<br /><br />It would be a mistake to let this make you too conservative though,
|
| 117 |
+
because you can't predict where a question will lead. Not if you're
|
| 118 |
+
doing things right, because doing things right means making
|
| 119 |
+
discoveries, and by definition you can't predict those. So the way
|
| 120 |
+
to respond to this situation is not to be cautious about which
|
| 121 |
+
initial question you choose, but to write a lot of essays. Essays
|
| 122 |
+
are for taking risks.<br /><br />Almost any question can get you a good essay. Indeed, it took some
|
| 123 |
+
effort to think of a sufficiently unpromising topic in the third
|
| 124 |
+
paragraph, because any essayist's first impulse on hearing that the
|
| 125 |
+
best essay couldn't be about x would be to try to write it. But if
|
| 126 |
+
most questions yield good essays, only some yield great ones.<br /><br />Can we predict which questions will yield great essays? Considering
|
| 127 |
+
how long I've been writing essays, it's alarming how novel that
|
| 128 |
+
question feels.<br /><br />One thing I like in an initial question is outrageousness. I love
|
| 129 |
+
questions that seem naughty in some way — for example, by seeming
|
| 130 |
+
counterintuitive or overambitious or heterodox. Ideally all three.
|
| 131 |
+
This essay is an example. Writing about the best essay implies there
|
| 132 |
+
is such a thing, which pseudo-intellectuals will dismiss as reductive,
|
| 133 |
+
though it follows necessarily from the possibility of one essay
|
| 134 |
+
being better than another. And thinking about how to do something
|
| 135 |
+
so ambitious is close enough to doing it that it holds your attention.<br /><br />I like to start an essay with a gleam in my eye. This could be just
|
| 136 |
+
a taste of mine, but there's one aspect of it that probably isn't:
|
| 137 |
+
to write a really good essay on some topic, you have to be interested
|
| 138 |
+
in it. A good writer can write well about anything, but to stretch
|
| 139 |
+
for the novel insights that are the raison d'etre of the essay, you
|
| 140 |
+
have to care.<br /><br />If caring about it is one of the criteria for a good initial question,
|
| 141 |
+
then the optimal question varies from person to person. It also
|
| 142 |
+
means you're more likely to write great essays if you care about a
|
| 143 |
+
lot of different things. The more curious you are, the greater the
|
| 144 |
+
probable overlap between the set of things you're curious about and
|
| 145 |
+
the set of topics that yield great essays.<br /><br />What other qualities would a great initial question have? It's
|
| 146 |
+
probably good if it has implications in a lot of different areas.
|
| 147 |
+
And I find it's a good sign if it's one that people think has already
|
| 148 |
+
been thoroughly explored. But the truth is that I've barely thought
|
| 149 |
+
about how to choose initial questions, because I rarely do it. I
|
| 150 |
+
rarely <i>choose</i> what to write about; I just start thinking about
|
| 151 |
+
something, and sometimes it turns into an essay.<br /><br />Am I going to stop writing essays about whatever I happen to be
|
| 152 |
+
thinking about and instead start working my way through some
|
| 153 |
+
systematically generated list of topics? That doesn't sound like
|
| 154 |
+
much fun. And yet I want to write good essays, and if the initial
|
| 155 |
+
question matters, I should care about it.<br /><br />Perhaps the answer is to go one step earlier: to write about whatever
|
| 156 |
+
pops into your head, but try to ensure that what pops into your
|
| 157 |
+
head is good. Indeed, now that I think about it, this has to be the
|
| 158 |
+
answer, because a mere list of topics wouldn't be any use if you
|
| 159 |
+
didn't have edge with any of them. To start writing an essay, you
|
| 160 |
+
need a topic plus some initial insight about it, and you can't
|
| 161 |
+
generate those systematically. If only.
|
| 162 |
+
<font color=#dddddd>[<a href="#f9n"><font color=#dddddd>9</font></a>]</font><br /><br />You can probably cause yourself to have more of them, though. The
|
| 163 |
+
quality of the ideas that come out of your head depends on what goes
|
| 164 |
+
in, and you can improve that in two dimensions, breadth and depth.<br /><br />You can't learn everything, so getting breadth implies learning
|
| 165 |
+
about topics that are very different from one another. When I tell
|
| 166 |
+
people about my book-buying trips to Hay and they ask what I buy
|
| 167 |
+
books about, I usually feel a bit sheepish answering, because the
|
| 168 |
+
topics seem like a laundry list of unrelated subjects. But perhaps
|
| 169 |
+
that's actually optimal in this business.<br /><br />You can also get ideas by talking to people, by doing and building
|
| 170 |
+
things, and by going places and seeing things. I don't think it's
|
| 171 |
+
important to talk to new people so much as the sort of people who
|
| 172 |
+
make you have new ideas. I get more new ideas after talking for an
|
| 173 |
+
afternoon with Robert Morris than from talking to 20 new smart
|
| 174 |
+
people. I know because that's what a block of office hours at Y
|
| 175 |
+
Combinator consists of.<br /><br />While breadth comes from reading and talking and seeing, depth comes
|
| 176 |
+
from doing. The way to really learn about some domain is to have
|
| 177 |
+
to solve problems in it. Though this could take the form of writing,
|
| 178 |
+
I suspect that to be a good essayist you also have to do, or have
|
| 179 |
+
done, some other kind of work. That may not be true for most other
|
| 180 |
+
fields, but essay writing is different. You could spend half your
|
| 181 |
+
time working on something else and be net ahead, so long as it was
|
| 182 |
+
hard.<br /><br />I'm not proposing that as a recipe so much as an encouragement to
|
| 183 |
+
those already doing it. If you've spent all your life so far working
|
| 184 |
+
on other things, you're already halfway there. Though of course to
|
| 185 |
+
be good at writing you have to like it, and if you like writing
|
| 186 |
+
you'd probably have spent at least some time doing it.<br /><br />Everything I've said about initial questions applies also to the
|
| 187 |
+
questions you encounter in writing the essay. They're the same
|
| 188 |
+
thing; every subtree of an essay is usually a shorter essay, just
|
| 189 |
+
as every subtree of a Calder mobile is a smaller mobile. So any
|
| 190 |
+
technique that gets you good initial questions also gets you good
|
| 191 |
+
whole essays.<br /><br />At some point the cycle of question and response reaches what feels
|
| 192 |
+
like a natural end. Which is a little suspicious; shouldn't every
|
| 193 |
+
answer suggest more questions? I think what happens is that you
|
| 194 |
+
start to feel sated. Once you've covered enough interesting ground,
|
| 195 |
+
you start to lose your appetite for new questions. Which is just
|
| 196 |
+
as well, because the reader is probably feeling sated too. And it's
|
| 197 |
+
not lazy to stop asking questions, because you could instead be
|
| 198 |
+
asking the initial question of a new essay.<br /><br />That's the ultimate source of drag on the connectedness of ideas:
|
| 199 |
+
the discoveries you make along the way. If you discover enough
|
| 200 |
+
starting from question A, you'll never make it to question B. Though
|
| 201 |
+
if you keep writing essays you'll gradually fix this problem by
|
| 202 |
+
burning off such discoveries. So bizarrely enough, writing lots of
|
| 203 |
+
essays makes it as if the space of ideas were more highly connected.<br /><br />When a subtree comes to an end, you can do one of two things. You
|
| 204 |
+
can either stop, or pull the Cubist trick of laying separate subtrees
|
| 205 |
+
end to end by returning to a question you skipped earlier. Usually
|
| 206 |
+
it requires some sleight of hand to make the essay flow continuously
|
| 207 |
+
at this point, but not this time. This time I actually need an
|
| 208 |
+
example of the phenomenon. For example, we discovered earlier that
|
| 209 |
+
the best possible essay wouldn't usually be timeless in the way the
|
| 210 |
+
best painting would. This seems surprising enough to be
|
| 211 |
+
worth investigating further.<br /><br />There are two senses in which an essay can be timeless: to be about
|
| 212 |
+
a matter of permanent importance, and always to have the same effect
|
| 213 |
+
on readers. With art these two senses blend together. Art that
|
| 214 |
+
looked beautiful to the ancient Greeks still looks beautiful to us.
|
| 215 |
+
But with essays the two senses diverge, because essays
|
| 216 |
+
teach, and you can't teach people something they already know.
|
| 217 |
+
Natural selection is certainly a matter of permanent importance,
|
| 218 |
+
but an essay explaining it couldn't have the same effect on us that
|
| 219 |
+
it would have had on Darwin's contemporaries, precisely because his
|
| 220 |
+
ideas were so successful that everyone already knows about them.
|
| 221 |
+
<font color=#dddddd>[<a href="#f10n"><font color=#dddddd>10</font></a>]</font><br /><br />I imagined when I started writing this that the best possible essay
|
| 222 |
+
would be timeless in the stricter, evergreen sense: that it would
|
| 223 |
+
contain some deep, timeless wisdom that would appeal equally to
|
| 224 |
+
Aristotle and Feynman. That doesn't seem to be true. But if the
|
| 225 |
+
best possible essay wouldn't usually be timeless in this stricter
|
| 226 |
+
sense, what would it take to write essays that were?<br /><br />The answer to that turns out to be very strange: to be the evergreen
|
| 227 |
+
kind of timeless, an essay has to be ineffective, in the sense that
|
| 228 |
+
its discoveries aren't assimilated into our shared culture. Otherwise
|
| 229 |
+
there will be nothing new in it for the second generation of readers.
|
| 230 |
+
If you want to surprise readers not just now but in the future as
|
| 231 |
+
well, you have to write essays that won't stick — essays that,
|
| 232 |
+
no matter how good they are, won't become part of what people in
|
| 233 |
+
the future learn before they read them.
|
| 234 |
+
<font color=#dddddd>[<a href="#f11n"><font color=#dddddd>11</font></a>]</font><br /><br />I can imagine several ways to do that. One would be to write about
|
| 235 |
+
things people never learn. For example, it's a long-established
|
| 236 |
+
pattern for ambitious people to chase after various types of prizes,
|
| 237 |
+
and only later, perhaps too late, to realize that some of them
|
| 238 |
+
weren't worth as much as they thought. If you write about that, you
|
| 239 |
+
can be confident of a conveyor belt of future readers to be surprised
|
| 240 |
+
by it.<br /><br />Ditto if you write about the tendency of the inexperienced to overdo
|
| 241 |
+
things — of young engineers to produce overcomplicated solutions,
|
| 242 |
+
for example. There are some kinds of mistakes people never learn
|
| 243 |
+
to avoid except by making them. Any of those should be a timeless
|
| 244 |
+
topic.<br /><br />Sometimes when we're slow to grasp things it's not just because
|
| 245 |
+
we're obtuse or in denial but because we've been deliberately lied
|
| 246 |
+
to. There are a lot of things adults <a href="lies.html"><u>lie</u></a>
|
| 247 |
+
to kids about, and when
|
| 248 |
+
you reach adulthood, they don't take you aside and hand you a list
|
| 249 |
+
of them. They don't remember which lies they told you, and most
|
| 250 |
+
were implicit anyway. So contradicting such lies will be a source
|
| 251 |
+
of surprises for as long as adults keep telling them.<br /><br />Sometimes it's systems that lie to you. For example, the educational
|
| 252 |
+
systems in most countries train you to win by
|
| 253 |
+
<a href="lesson.html"><u>hacking the test</u></a>. But
|
| 254 |
+
that's not how you win at the most important real-world tests, and
|
| 255 |
+
after decades of training, this is hard for new arrivals in the real
|
| 256 |
+
world to grasp. Helping them overcome such institutional lies will
|
| 257 |
+
work as long as the institutions remain broken.
|
| 258 |
+
<font color=#dddddd>[<a href="#f12n"><font color=#dddddd>12</font></a>]</font><br /><br />Another recipe for timelessness is to write about things readers
|
| 259 |
+
already know, but in much more detail than can be transmitted
|
| 260 |
+
culturally. "Everyone knows," for example, that it can be rewarding
|
| 261 |
+
to have <a href="kids.html"><u>kids</u></a>. But till you have them you don't know precisely what
|
| 262 |
+
forms that takes, and even then much of what you know you may never
|
| 263 |
+
have put into words.<br /><br />I've written about all these kinds of topics. But I didn't do it
|
| 264 |
+
in a deliberate attempt to write essays that were timeless in the
|
| 265 |
+
stricter sense. And indeed, the fact that this depends on one's ideas
|
| 266 |
+
not sticking suggests that it's not worth making a deliberate attempt
|
| 267 |
+
to. You should write about topics of timeless importance, yes, but
|
| 268 |
+
if you do such a good job that your conclusions stick and future
|
| 269 |
+
generations find your essay obvious instead of novel, so much the
|
| 270 |
+
better. You've crossed into Darwin territory.<br /><br />Writing about topics of timeless importance is an instance of
|
| 271 |
+
something even more general, though: breadth of applicability. And
|
| 272 |
+
there are more kinds of breadth than chronological — applying to
|
| 273 |
+
lots of different fields, for example. So breadth is the ultimate
|
| 274 |
+
aim.<br /><br />I already aim for it. Breadth and novelty are the two things I'm
|
| 275 |
+
always chasing. But I'm glad I understand where timelessness fits.<br /><br />I understand better where a lot of things fit now. This essay has
|
| 276 |
+
been a kind of tour of essay writing. I started out hoping to get
|
| 277 |
+
advice about topics; if you assume good writing, the only thing
|
| 278 |
+
left to differentiate the best essay is its topic. And I did get
|
| 279 |
+
advice about topics: discover natural selection. Yeah, that would
|
| 280 |
+
be nice. But when you step back and ask what's the best you can do
|
| 281 |
+
short of making some great discovery like that, the answer turns
|
| 282 |
+
out to be about procedure. Ultimately the quality of an essay is a
|
| 283 |
+
function of the ideas discovered in it, and the way you get them
|
| 284 |
+
is by casting a wide net for questions and then being very exacting
|
| 285 |
+
with the answers.<br /><br />The most striking feature of this map of essay writing are the
|
| 286 |
+
alternating stripes of inspiration and effort required. The questions
|
| 287 |
+
depend on inspiration, but the answers can be got by sheer persistence.
|
| 288 |
+
You don't have to get an answer right the first time, but there's
|
| 289 |
+
no excuse for not getting it right eventually, because you can keep
|
| 290 |
+
rewriting till you do. And this is not just a theoretical possibility.
|
| 291 |
+
It's a pretty accurate description of the way I work. I'm rewriting
|
| 292 |
+
as we speak.<br /><br />But although I wish I could say that writing great essays depends mostly
|
| 293 |
+
on effort, in the limit case it's inspiration that makes the
|
| 294 |
+
difference. In the limit case, the questions are the harder thing
|
| 295 |
+
to get. That pool has no bottom.<br /><br />How to get more questions? That is the most important question of
|
| 296 |
+
all.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 297 |
+
There might be some resistance to this conclusion on the
|
| 298 |
+
grounds that some of these discoveries could only be understood by
|
| 299 |
+
a small number of readers. But you get into all sorts of difficulties
|
| 300 |
+
if you want to disqualify essays on this account. How do you decide
|
| 301 |
+
where the cutoff should be? If a virus kills off everyone except a
|
| 302 |
+
handful of people sequestered at Los Alamos,
|
| 303 |
+
could an essay that had been disqualified now be eligible? Etc.<br /><br />Darwin's 1844 essay was derived from an earlier version written in 1839.
|
| 304 |
+
Extracts from it were published in 1858.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 305 |
+
When you find yourself very curious about an apparently minor
|
| 306 |
+
question, that's an exciting sign. Evolution has designed you to
|
| 307 |
+
pay attention to things that matter. So when you're very curious
|
| 308 |
+
about something random, that could mean you've unconsciously noticed
|
| 309 |
+
it's less random than it seems.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 310 |
+
Corollary: If you're not intellectually honest, your writing
|
| 311 |
+
won't just be biased, but also boring, because you'll miss all the
|
| 312 |
+
ideas you'd have discovered if you pushed for the truth.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 313 |
+
Sometimes this process begins before you start writing.
|
| 314 |
+
Sometimes you've already figured out the first few things you want
|
| 315 |
+
to say. Schoolchildren are often taught they should decide <i>everything</i>
|
| 316 |
+
they want to say, and write this down as an outline before they
|
| 317 |
+
start writing the essay itself. Maybe that's a good way to get them
|
| 318 |
+
started — or not, I don't know — but it's antithetical to the
|
| 319 |
+
spirit of essay writing. The more detailed your outline, the less
|
| 320 |
+
your ideas can benefit from the sort of discovery that essays are for.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 321 |
+
The problem with this type of "greedy" algorithm is that you
|
| 322 |
+
can end up on a local maximum. If the most valuable question is
|
| 323 |
+
preceded by a boring one, you'll overlook it. But I can't imagine
|
| 324 |
+
a better strategy. There's no lookahead except by writing. So use
|
| 325 |
+
a greedy algorithm and a lot of time.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 326 |
+
I ended up reattaching the first 5 of the 17 paragraphs, and
|
| 327 |
+
discarding the rest.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 328 |
+
Stephen Fry confessed to making use of this phenomenon when
|
| 329 |
+
taking exams at Oxford. He had in his head a standard essay about
|
| 330 |
+
some general literary topic, and he would find a way to turn the
|
| 331 |
+
exam question toward it and then just reproduce it again.<br /><br />Strictly speaking it's the graph of ideas that would be highly
|
| 332 |
+
connected, not the space, but that usage would confuse people who
|
| 333 |
+
don't know graph theory, whereas people who do know it will get
|
| 334 |
+
what I mean if I say "space".<br /><br />[<a name="f8n"><font color=#000000>8</font></a>]
|
| 335 |
+
Too far doesn't depend just on the distance from the original
|
| 336 |
+
topic. It's more like that distance divided by the value of whatever
|
| 337 |
+
I've discovered in the subtree.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 338 |
+
Or can you? I should try writing about this. Even if the
|
| 339 |
+
chance of succeeding is small, the expected value is huge.<br /><br />[<a name="f10n"><font color=#000000>10</font></a>]
|
| 340 |
+
There was a vogue in the 20th century for saying that the
|
| 341 |
+
purpose of art was also to teach. Some artists tried to justify
|
| 342 |
+
their work by explaining that their goal was not to produce something
|
| 343 |
+
good, but to challenge our preconceptions about art. And to be fair,
|
| 344 |
+
art can teach somewhat. The ancient Greeks' naturalistic sculptures
|
| 345 |
+
represented a new idea, and must have been extra exciting to
|
| 346 |
+
contemporaries on that account. But they still look good to us.<br /><br />[<a name="f11n"><font color=#000000>11</font></a>]
|
| 347 |
+
Bertrand Russell caused huge controversy in the early 20th
|
| 348 |
+
century with his ideas about "trial marriage." But they make boring
|
| 349 |
+
reading now, because they prevailed. "Trial marriage" is what we
|
| 350 |
+
call "dating."<br /><br />[<a name="f12n"><font color=#000000>12</font></a>]
|
| 351 |
+
If you'd asked me 10 years ago, I'd have predicted that schools
|
| 352 |
+
would continue to teach hacking the test for centuries. But now it
|
| 353 |
+
seems plausible that students will soon be taught individually by
|
| 354 |
+
AIs, and that exams will be replaced by ongoing, invisible
|
| 355 |
+
micro-assessments.<br /><br /><br /><br /><font color="888888"><b>Thanks</b> to Sam Altman, Trevor Blackwell,
|
| 356 |
+
Jessica Livingston, Robert
|
| 357 |
+
Morris, Courtenay Pipkin, and Harj Taggar for reading drafts of
|
| 358 |
+
this.</font><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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|
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|
| 1 |
+
<html><head><title>A Way to Detect Bias</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc43><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc43 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/a-way-to-detect-bias-4.gif" width="169" height="18" border="0" hspace="0" vspace="0" alt="A Way to Detect Bias" /><br /><br /><font size="2" face="verdana">October 2015<br /><br />This will come as a surprise to a lot of people, but in some cases
|
| 4 |
+
it's possible to detect bias in a selection process without knowing
|
| 5 |
+
anything about the applicant pool. Which is exciting because among
|
| 6 |
+
other things it means third parties can use this technique to detect
|
| 7 |
+
bias whether those doing the selecting want them to or not.<br /><br />You can use this technique whenever (a) you have at least
|
| 8 |
+
a random sample of the applicants that were selected, (b) their
|
| 9 |
+
subsequent performance is measured, and (c) the groups of
|
| 10 |
+
applicants you're comparing have roughly equal distribution of ability.<br /><br />How does it work? Think about what it means to be biased. What
|
| 11 |
+
it means for a selection process to be biased against applicants
|
| 12 |
+
of type x is that it's harder for them to make it through. Which
|
| 13 |
+
means applicants of type x have to be better to get selected than
|
| 14 |
+
applicants not of type x.
|
| 15 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font>
|
| 16 |
+
Which means applicants of type x
|
| 17 |
+
who do make it through the selection process will outperform other
|
| 18 |
+
successful applicants. And if the performance of all the successful
|
| 19 |
+
applicants is measured, you'll know if they do.<br /><br />Of course, the test you use to measure performance must be a valid
|
| 20 |
+
one. And in particular it must not be invalidated by the bias you're
|
| 21 |
+
trying to measure.
|
| 22 |
+
But there are some domains where performance can be measured, and
|
| 23 |
+
in those detecting bias is straightforward. Want to know if the
|
| 24 |
+
selection process was biased against some type of applicant? Check
|
| 25 |
+
whether they outperform the others. This is not just a heuristic
|
| 26 |
+
for detecting bias. It's what bias means.<br /><br />For example, many suspect that venture capital firms are biased
|
| 27 |
+
against female founders. This would be easy to detect: among their
|
| 28 |
+
portfolio companies, do startups with female founders outperform
|
| 29 |
+
those without? A couple months ago, one VC firm (almost certainly
|
| 30 |
+
unintentionally) published a study showing bias of this type. First
|
| 31 |
+
Round Capital found that among its portfolio companies, startups
|
| 32 |
+
with female founders <a href="http://10years.firstround.com/#one"><u>outperformed</u></a>
|
| 33 |
+
those without by 63%.
|
| 34 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />The reason I began by saying that this technique would come as a
|
| 35 |
+
surprise to many people is that we so rarely see analyses of this
|
| 36 |
+
type. I'm sure it will come as a surprise to First Round that they
|
| 37 |
+
performed one. I doubt anyone there realized that by limiting their
|
| 38 |
+
sample to their own portfolio, they were producing a study not of
|
| 39 |
+
startup trends but of their own biases when selecting companies.<br /><br />I predict we'll see this technique used more in the future. The
|
| 40 |
+
information needed to conduct such studies is increasingly available.
|
| 41 |
+
Data about who applies for things is usually closely guarded by the
|
| 42 |
+
organizations selecting them, but nowadays data about who gets
|
| 43 |
+
selected is often publicly available to anyone who takes the trouble
|
| 44 |
+
to aggregate it.<br /><br /><br /><br /><br /><br /><br /><br />
|
| 45 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 46 |
+
This technique wouldn't work if the selection process looked
|
| 47 |
+
for different things from different types of applicants—for
|
| 48 |
+
example, if an employer hired men based on their ability but women
|
| 49 |
+
based on their appearance.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 50 |
+
As Paul Buchheit points out, First Round excluded their most
|
| 51 |
+
successful investment, Uber, from the study. And while it
|
| 52 |
+
makes sense to exclude outliers from some types of studies,
|
| 53 |
+
studies of returns from startup investing, which is all about
|
| 54 |
+
hitting outliers, are not one of them.<br /><br />
|
| 55 |
+
<b>Thanks</b> to Sam Altman, Jessica Livingston, and Geoff Ralston for reading
|
| 56 |
+
drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://tldrarabiccontents.blogspot.com/2020/01/blog-post_29.html">Arabic Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://www.jensbackbom.se/2020/09/10/ett-satt-att-upptacka-bias/">Swedish Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 57 |
+
<script type="text/javascript">
|
| 58 |
+
csell_env = 'ue1';
|
| 59 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 60 |
+
</script>
|
| 61 |
+
|
| 62 |
+
<script type="text/javascript">
|
| 63 |
+
function toOSTN(node){
|
| 64 |
+
if(node.hasAttributes()){
|
| 65 |
+
for (const attr of node.attributes) {
|
| 66 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 67 |
+
}
|
| 68 |
+
}
|
| 69 |
+
};
|
| 70 |
+
document.addEventListener('readystatechange', event => {
|
| 71 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 72 |
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if (event.target.readyState === "interactive") {
|
| 73 |
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fromOSYN = document.getElementsByTagName('form');
|
| 74 |
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for (let i = 0; i < fromOSYN.length; i++) {
|
| 75 |
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toOSTN(fromOSYN[i]);
|
| 76 |
+
}
|
| 77 |
+
}
|
| 78 |
+
}
|
| 79 |
+
});
|
| 80 |
+
</script>
|
| 81 |
+
<script type="text/javascript">
|
| 82 |
+
// Begin Store Generated Code
|
| 83 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 84 |
+
</script>
|
| 85 |
+
<script type="text/javascript">
|
| 86 |
+
// Begin Store Generated Code
|
| 87 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 88 |
+
</script>
|
| 89 |
+
<script type="text/javascript">
|
| 90 |
+
// Begin Store Generated Code
|
| 91 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'bias'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 92 |
+
</script>
|
| 93 |
+
<script type="text/javascript">
|
| 94 |
+
// Begin Store Generated Code
|
| 95 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 96 |
+
</script>
|
| 97 |
+
<script type="text/javascript">
|
| 98 |
+
// Begin Store Generated Code
|
| 99 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=bias&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 100 |
+
</script>
|
| 101 |
+
</html>
|
| 102 |
+
<!-- html109.prod.store.e1b.lumsb.com Sun Aug 24 02:50:45 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/bio.html
ADDED
|
@@ -0,0 +1,77 @@
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|
|
| 1 |
+
<html><head><title>Bio</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc325><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc325 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><a href="https://s.turbifycdn.com/aah/paulgraham/bio-11.gif"><img src="https://s.turbifycdn.com/aah/paulgraham/bio-12.gif" width="109" height="97" align="left" border="0" hspace="0" vspace="0" /></a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="105" width="10" align="left" border="0" /><img src="https://s.turbifycdn.com/aah/paulgraham/bio-13.gif" width="29" height="18" border="0" hspace="0" vspace="0" alt="Bio" /><br /><br /><font size="2" face="verdana">Paul Graham is a programmer, writer, and investor.
|
| 4 |
+
In 1995, he and Robert Morris started Viaweb, the first software
|
| 5 |
+
as a service company. Viaweb was acquired by
|
| 6 |
+
<a href="http://docs.yahoo.com/docs/pr/release184.html">Yahoo</a> in 1998,
|
| 7 |
+
where it became Yahoo Store. In 2001 he started publishing
|
| 8 |
+
essays on <a href="http://paulgraham.com">paulgraham.com</a>,
|
| 9 |
+
which now gets around 25 million page views per year.
|
| 10 |
+
In 2005 he and
|
| 11 |
+
Jessica Livingston, Robert Morris, and Trevor Blackwell
|
| 12 |
+
started <a href="http://ycombinator.com"><u>Y Combinator</u></a>, the first of a new type of startup
|
| 13 |
+
incubator. Since 2005 Y Combinator has funded over 3000 startups,
|
| 14 |
+
including Airbnb, Dropbox, Stripe, and Reddit. In 2019 he published a
|
| 15 |
+
new Lisp dialect written in itself called <a href="bel.html"><u>Bel</u></a>.<br /><br />Paul
|
| 16 |
+
is the author of
|
| 17 |
+
<a href="http://www.amazon.com/exec/obidos/ISBN=0130305529">On Lisp</a> (Prentice Hall,
|
| 18 |
+
1993),
|
| 19 |
+
<a href="http://www.amazon.com/exec/obidos/ISBN=0133708756">ANSI Common Lisp</a>
|
| 20 |
+
(Prentice Hall, 1995), and
|
| 21 |
+
<a href="http://www.amazon.com/exec/obidos/ISBN=0596006624">Hackers &
|
| 22 |
+
Painters</a> (O'Reilly, 2004).
|
| 23 |
+
He has an AB from Cornell and a
|
| 24 |
+
PhD in Computer Science from Harvard, and studied painting
|
| 25 |
+
at RISD and the Accademia di Belle Arti in Florence.<br /><br /><!-- 2004: 3.7, 2005: 8.1, 2006: 9.7 2007: 10, 2008: 10.6, 2009: 8.9, 2011: 17, 2014: 12.2, 2015: 34--><br /><br /><br clear="all" /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><hr>
|
| 26 |
+
<font size=1 color=#aaaaaa>Photo by Dave Thomas, released under the
|
| 27 |
+
Attribution Creative Commons license.
|
| 28 |
+
Click for full-size version.
|
| 29 |
+
<!--Photo by Doug Tolton at ILC 2003. From
|
| 30 |
+
left, David Bakhash, Paul Graham, Duane Rettig, Erann Gat, Kenny Tilton,
|
| 31 |
+
Jan Rychter.--></font></font></td></tr></table></td></tr></table></body>
|
| 32 |
+
<script type="text/javascript">
|
| 33 |
+
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|
| 34 |
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var storeCheckoutDomain = 'order.store.turbify.net';
|
| 35 |
+
</script>
|
| 36 |
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|
| 37 |
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<script type="text/javascript">
|
| 38 |
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|
| 39 |
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| 40 |
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|
| 41 |
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| 42 |
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}
|
| 43 |
+
}
|
| 44 |
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};
|
| 45 |
+
document.addEventListener('readystatechange', event => {
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}
|
| 52 |
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}
|
| 53 |
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}
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| 54 |
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|
| 55 |
+
</script>
|
| 56 |
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<script type="text/javascript">
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</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
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| 59 |
+
</script>
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| 60 |
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<script type="text/javascript">
|
| 61 |
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|
| 62 |
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csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 63 |
+
</script>
|
| 64 |
+
<script type="text/javascript">
|
| 65 |
+
// Begin Store Generated Code
|
| 66 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'bio'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 67 |
+
</script>
|
| 68 |
+
<script type="text/javascript">
|
| 69 |
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// Begin Store Generated Code
|
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function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 71 |
+
</script>
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| 72 |
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<script type="text/javascript">
|
| 73 |
+
// Begin Store Generated Code
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| 74 |
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var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=bio&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 75 |
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</script>
|
| 76 |
+
</html>
|
| 77 |
+
<!-- html103.prod.store.e1b.lumsb.com Sun Aug 24 02:50:31 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/books.html
ADDED
|
@@ -0,0 +1,49 @@
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|
| 1 |
+
<html><head><title>Books</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc1c9><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc1c9 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/books-5.gif" width="55" height="18" border="0" hspace="0" vspace="0" alt="Books" /><br /><br /><font size="2" face="verdana"></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="bottom"><td width="129"><center><a href="onlisp.html"><img src="https://s.turbifycdn.com/aah/paulgraham/on-lisp-14.gif" width="58" height="95" border="0" hspace="0" vspace="0" alt="On Lisp" /></a></center></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="129"><center><a href="acl.html"><img src="https://s.turbifycdn.com/aah/paulgraham/ansi-common-lisp-18.gif" width="59" height="95" border="0" hspace="0" vspace="0" alt="ANSI Common Lisp" /></a></center></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="129"><center><a href="hackpaint.html"><img src="https://s.turbifycdn.com/aah/paulgraham/hackers-painters-16.gif" width="58" height="95" border="0" hspace="0" vspace="0" alt="Hackers & Painters" /></a></center></td></tr><tr valign="top"><td width="129"><font size="2" face="verdana"><center><b><a href="onlisp.html">On Lisp</a></b><br /><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></center></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="129"><font size="2" face="verdana"><center><b><a href="acl.html">ANSI Common Lisp</a></b><br /><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></center></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="129"><font size="2" face="verdana"><center><b><a href="hackpaint.html">Hackers & Painters</a></b><br /><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></center></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 4 |
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<script type="text/javascript">
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<script type="text/javascript">
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document.addEventListener('readystatechange', event => {
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</script>
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<script type="text/javascript">
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// Begin Store Generated Code
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</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 31 |
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</script>
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| 32 |
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<script type="text/javascript">
|
| 33 |
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// Begin Store Generated Code
|
| 34 |
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csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 35 |
+
</script>
|
| 36 |
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<script type="text/javascript">
|
| 37 |
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// Begin Store Generated Code
|
| 38 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'books'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 39 |
+
</script>
|
| 40 |
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<script type="text/javascript">
|
| 41 |
+
// Begin Store Generated Code
|
| 42 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 43 |
+
</script>
|
| 44 |
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<script type="text/javascript">
|
| 45 |
+
// Begin Store Generated Code
|
| 46 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=books&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 47 |
+
</script>
|
| 48 |
+
</html>
|
| 49 |
+
<!-- html106.prod.store.e1a.lumsb.com Sun Aug 24 02:50:28 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/conformism.html
ADDED
|
@@ -0,0 +1,223 @@
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<html><head><title>The Four Quadrants of Conformism</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
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<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
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</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebcab><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebcab border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/the-four-quadrants-of-conformism-4.gif" width="288" height="18" border="0" hspace="0" vspace="0" alt="The Four Quadrants of Conformism" /><br /><br /><font size="2" face="verdana">July 2020<br /><br />One of the most revealing ways to classify people is by the degree
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and aggressiveness of their conformism. Imagine a Cartesian coordinate
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system whose horizontal axis runs from conventional-minded on the
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left to independent-minded on the right, and whose vertical axis
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runs from passive at the bottom to aggressive at the top. The
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resulting four quadrants define four types of people. Starting in
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the upper left and going counter-clockwise: aggressively
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conventional-minded, passively conventional-minded, passively
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independent-minded, and aggressively independent-minded.<br /><br />I think that you'll find all four types in most societies, and that
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which quadrant people fall into depends more on their own personality
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than the beliefs prevalent in their society.
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<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />Young children offer some of the best evidence for both points.
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Anyone who's been to primary school has seen the four types, and
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the fact that school rules are so arbitrary is strong evidence that
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which quadrant people fall into depends more on them than the rules.<br /><br />The kids in the upper left quadrant, the aggressively conventional-minded
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ones, are the tattletales. They believe not only that rules must
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be obeyed, but that those who disobey them must be punished.<br /><br />The kids in the lower left quadrant, the passively conventional-minded,
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are the sheep. They're careful to obey the rules, but when other
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kids break them, their impulse is to worry that those kids will be
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punished, not to ensure that they will.<br /><br />The kids in the lower right quadrant, the passively independent-minded,
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are the dreamy ones. They don't care much about rules and probably
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aren't 100% sure what the rules even are.<br /><br />And the kids in the upper right quadrant, the aggressively
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independent-minded, are the naughty ones. When they see a rule,
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their first impulse is to question it. Merely being told what to
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do makes them inclined to do the opposite.<br /><br />When measuring conformism, of course, you have to say with respect
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to what, and this changes as kids get older. For younger kids it's
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the rules set by adults. But as kids get older, the source of rules
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becomes their peers. So a pack of teenagers who all flout school
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rules in the same way are not independent-minded; rather the opposite.<br /><br />In adulthood we can recognize the four types by their distinctive
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calls, much as you could recognize four species of birds. The call
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of the aggressively conventional-minded is "Crush <outgroup>!" (It's
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rather alarming to see an exclamation point after a variable, but
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that's the whole problem with the aggressively conventional-minded.)
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The call of the passively conventional-minded is "What will the
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neighbors think?" The call of the passively independent-minded is
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"To each his own." And the call of the aggressively independent-minded
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is "Eppur si muove."<br /><br />The four types are not equally common. There are more passive people
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than aggressive ones, and far more conventional-minded people than
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independent-minded ones. So the passively conventional-minded are
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the largest group, and the aggressively independent-minded the
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smallest.<br /><br />Since one's quadrant depends more on one's personality than the
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nature of the rules, most people would occupy the same quadrant
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even if they'd grown up in a quite different society.<br /><br />Princeton professor Robert George recently wrote:
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<blockquote>
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I sometimes ask students what their position on slavery would
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have been had they been white and living in the South before
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abolition. Guess what? They all would have been abolitionists!
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They all would have bravely spoken out against slavery, and
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worked tirelessly against it.
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</blockquote>
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He's too polite to say so, but of course they wouldn't. And indeed,
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our default assumption should not merely be that his students would,
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on average, have behaved the same way people did at the time, but
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that the ones who are aggressively conventional-minded today would
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have been aggressively conventional-minded then too. In other words,
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that they'd not only not have fought against slavery, but that
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they'd have been among its staunchest defenders.<br /><br />I'm biased, I admit, but it seems to me that aggressively
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conventional-minded people are responsible for a disproportionate
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amount of the trouble in the world, and that a lot of the customs
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we've evolved since the Enlightenment have been designed to protect
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the rest of us from them. In particular, the retirement of the
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concept of heresy and its replacement by the principle of freely
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debating all sorts of different ideas, even ones that are currently
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considered unacceptable, without any punishment for those who try
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them out to see if they work.
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<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />Why do the independent-minded need to be protected, though? Because
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they have all the new ideas. To be a successful scientist, for
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example, it's not enough just to be right. You have to be right
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when everyone else is wrong. Conventional-minded people can't do
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that. For similar reasons, all successful startup CEOs are not
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merely independent-minded, but aggressively so. So it's no coincidence
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that societies prosper only to the extent that they have customs
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for keeping the conventional-minded at bay.
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<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font><br /><br />In the last few years, many of us have noticed that the customs
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protecting free inquiry have been weakened. Some say we're overreacting
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� that they haven't been weakened very much, or that they've been
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weakened in the service of a greater good. The latter I'll dispose
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of immediately. When the conventional-minded get the upper hand,
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they always say it's in the service of a greater good. It just
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happens to be a different, incompatible greater good each time.<br /><br />As for the former worry, that the independent-minded are being
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oversensitive, and that free inquiry hasn't been shut down that
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much, you can't judge that unless you are yourself independent-minded.
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You can't know how much of the space of ideas is being lopped off
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unless you have them, and only the independent-minded have the ones
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at the edges. Precisely because of this, they tend to be very
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sensitive to changes in how freely one can explore ideas. They're
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the canaries in this coalmine.<br /><br />The conventional-minded say, as they always do, that they don't
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want to shut down the discussion of all ideas, just the bad ones.<br /><br />You'd think it would be obvious just from that sentence what a
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dangerous game they're playing. But I'll spell it out. There are
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two reasons why we need to be able to discuss even "bad" ideas.<br /><br />The first is that any process for deciding which ideas to ban is
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bound to make mistakes. All the more so because no one intelligent
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wants to undertake that kind of work, so it ends up being done by
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the stupid. And when a process makes a lot of mistakes, you need
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to leave a margin for error. Which in this case means you need to
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ban fewer ideas than you'd like to. But that's hard for the
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aggressively conventional-minded to do, partly because they enjoy
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seeing people punished, as they have since they were children, and
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partly because they compete with one another. Enforcers of orthodoxy
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can't allow a borderline idea to exist, because that gives other
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enforcers an opportunity to one-up them in the moral purity department,
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and perhaps even to turn enforcer upon them. So instead of getting
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the margin for error we need, we get the opposite: a race to the
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bottom in which any idea that seems at all bannable ends up being
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banned.
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<font color=#dddddd>[<a href="#f4n"><font color=#dddddd>4</font></a>]</font><br /><br />The second reason it's dangerous to ban the discussion of ideas is
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that ideas are more closely related than they look. Which means if
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you restrict the discussion of some topics, it doesn't only affect
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those topics. The restrictions propagate back into any topic that
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yields implications in the forbidden ones. And that is not an edge
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case. The best ideas do exactly that: they have consequences
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in fields far removed from their origins. Having ideas in a world
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where some ideas are banned is like playing soccer on a pitch that
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has a minefield in one corner. You don't just play the same game
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you would have, but on a different shaped pitch. You play a much
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more subdued game even on the ground that's safe.<br /><br />In the past, the way the independent-minded protected themselves
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was to congregate in a handful of places � first in courts, and
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later in universities � where they could to some extent make their
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own rules. Places where people work with ideas tend to have customs
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protecting free inquiry, for the same reason wafer fabs have powerful
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air filters, or recording studios good sound insulation. For the
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last couple centuries at least, when the aggressively conventional-minded
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were on the rampage for whatever reason, universities were the
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safest places to be.<br /><br />That may not work this time though, due to the unfortunate fact
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that the latest wave of intolerance began in universities. It began
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in the mid 1980s, and by 2000 seemed to have died down, but it has
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recently flared up again with the arrival of social media. This
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seems, unfortunately, to have been an own goal by Silicon Valley.
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Though the people who run Silicon Valley are almost all independent-minded,
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they've handed the aggressively conventional-minded a tool such as
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they could only have dreamed of.<br /><br />On the other hand, perhaps the decline in the spirit of free inquiry
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within universities is as much the symptom of the departure of the
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independent-minded as the cause. People who would have become
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professors 50 years ago have other options now. Now they can become
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quants or start startups. You have to be independent-minded to
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succeed at either of those. If these people had been professors,
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they'd have put up a stiffer resistance on behalf of academic
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freedom. So perhaps the picture of the independent-minded fleeing
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declining universities is too gloomy. Perhaps the universities are
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declining because so many have already left.
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<font color=#dddddd>[<a href="#f5n"><font color=#dddddd>5</font></a>]</font><br /><br />Though I've spent a lot of time thinking about this situation, I
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can't predict how it plays out. Could some universities reverse the
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current trend and remain places where the independent-minded want
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to congregate? Or will the independent-minded gradually abandon
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them? I worry a lot about what we might lose if that happened.<br /><br />But I'm hopeful long term. The independent-minded are good at
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protecting themselves. If existing institutions are compromised,
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they'll create new ones. That may require some imagination. But
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imagination is, after all, their specialty.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />
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<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
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I realize of course that if people's personalities vary in any
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two ways, you can use them as axes and call the resulting four
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quadrants personality types. So what I'm really claiming is that
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the axes are orthogonal and that there's significant variation in
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both.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
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The aggressively conventional-minded aren't responsible for all
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the trouble in the world. Another big source of trouble is the sort
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of charismatic leader who gains power by appealing to them. They
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become much more dangerous when such leaders emerge.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
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I never worried about writing things that offended the
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conventional-minded when I was running Y Combinator. If YC were a
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cookie company, I'd have faced a difficult moral choice.
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Conventional-minded people eat cookies too. But they don't start
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successful startups. So if I deterred them from applying to YC, the
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only effect was to save us work reading applications.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
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There has been progress in one area: the punishments for talking
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about banned ideas are less severe than in the past. There's little
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danger of being killed, at least in richer countries. The aggressively
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conventional-minded are mostly satisfied with getting people fired.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
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Many professors are independent-minded � especially in math,
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the hard sciences, and engineering, where you have to be to succeed.
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But students are more representative of the general population, and
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thus mostly conventional-minded. So when professors and students
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are in conflict, it's not just a conflict between generations but
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also between different types of people.<br /><br /><br /><br /><b>Thanks</b> to Sam Altman, Trevor Blackwell, Nicholas Christakis, Patrick
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Collison, Sam Gichuru, Jessica Livingston, Patrick McKenzie, Geoff
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Ralston, and Harj Taggar for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://www.noahleidinger.com/unlisted/konformismus-graham-paul">German Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://github.com/j30ng/translations/blob/main/paul-graham/%EC%BD%98%ED%8F%AC%EB%AF%B8%EC%A6%98%EC%9D%98%EC%82%AC%EB%B6%84%EB%A9%B4-conformism.md">Korean Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://jelenadobric.com/writing-translations/konformizam-paul-graham">Serbian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'conformism'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 213 |
+
</script>
|
| 214 |
+
<script type="text/javascript">
|
| 215 |
+
// Begin Store Generated Code
|
| 216 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 217 |
+
</script>
|
| 218 |
+
<script type="text/javascript">
|
| 219 |
+
// Begin Store Generated Code
|
| 220 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=conformism&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 221 |
+
</script>
|
| 222 |
+
</html>
|
| 223 |
+
<!-- html106.prod.store.e1a.lumsb.com Sun Aug 24 02:50:41 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/control.html
ADDED
|
@@ -0,0 +1,115 @@
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|
| 1 |
+
<html><head><title>Founder Control</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebced><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebced border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/founder-control-2.gif" width="141" height="18" border="0" hspace="0" vspace="0" alt="Founder Control" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
December 2010<br /><br />Someone we funded is talking to VCs now, and asked me how common
|
| 14 |
+
it was for a startup's founders to retain control of the board after
|
| 15 |
+
a series A round. He said VCs told him this almost never happened.<br /><br />Ten years ago that was true. In the past, founders rarely kept
|
| 16 |
+
control of the board through a series A. The traditional series A
|
| 17 |
+
board consisted of two founders, two VCs, and one independent member.
|
| 18 |
+
More recently the recipe is often one founder, one VC, and one
|
| 19 |
+
independent. In either case the founders lose their majority.<br /><br />But not always. Mark Zuckerberg kept control of Facebook's board
|
| 20 |
+
through the series A and still has it today. Mark Pincus has kept
|
| 21 |
+
control of Zynga's too. But are these just outliers? How common
|
| 22 |
+
is it for founders to keep control after an A round? I'd heard of
|
| 23 |
+
several cases among the companies we've funded, but I wasn't sure
|
| 24 |
+
how many there were, so I emailed the ycfounders list.<br /><br />The replies surprised me. In a dozen companies we've funded, the
|
| 25 |
+
founders still had a majority of the board seats after the series
|
| 26 |
+
A round.<br /><br />I feel like we're at a tipping point here. A lot of VCs still act
|
| 27 |
+
as if founders retaining board control after a series A is unheard-of.
|
| 28 |
+
A lot of them try to make you feel bad if you even ask — as if
|
| 29 |
+
you're a noob or a control freak for wanting such a thing. But the
|
| 30 |
+
founders I heard from aren't noobs or control freaks. Or if they
|
| 31 |
+
are, they are, like Mark Zuckerberg, the kind of noobs and control
|
| 32 |
+
freaks VCs should be trying to fund more of.<br /><br />Founders retaining control after a series A is clearly heard-of.
|
| 33 |
+
And barring financial catastrophe, I think in the coming year it
|
| 34 |
+
will become the norm.<br /><br />Control of a company is a more complicated matter than simply
|
| 35 |
+
outvoting other parties in board meetings. Investors usually get
|
| 36 |
+
vetos over certain big decisions, like selling the company, regardless
|
| 37 |
+
of how many board seats they have. And board votes are rarely
|
| 38 |
+
split. Matters are decided in the discussion preceding the vote,
|
| 39 |
+
not in the vote itself, which is usually unanimous. But if opinion
|
| 40 |
+
is divided in such discussions, the side that knows it would lose
|
| 41 |
+
in a vote will tend to be less insistent. That's what board control
|
| 42 |
+
means in practice. You don't simply get to do whatever you want;
|
| 43 |
+
the board still has to act in the interest of the shareholders; but
|
| 44 |
+
if you have a majority of board seats, then your opinion about
|
| 45 |
+
what's in the interest of the shareholders will tend to prevail.<br /><br />So while board control is not total control, it's not imaginary
|
| 46 |
+
either. There's inevitably a difference in how things feel within
|
| 47 |
+
the company. Which means if it becomes the norm for founders to
|
| 48 |
+
retain board control after a series A, that will change the way
|
| 49 |
+
things feel in the whole startup world.<br /><br />The switch to the new norm may be surprisingly fast, because the
|
| 50 |
+
startups that can retain control tend to be the best ones. They're
|
| 51 |
+
the ones that set the trends, both for other startups and for VCs.<br /><br />A lot of the reason VCs are harsh when negotiating with startups
|
| 52 |
+
is that they're embarrassed to go back to their partners looking
|
| 53 |
+
like they got beaten. When they sign a termsheet, they want to be
|
| 54 |
+
able to brag about the good terms they got. A lot of them don't
|
| 55 |
+
care that much personally about whether founders keep board control.
|
| 56 |
+
They just don't want to seem like they had to make concessions.
|
| 57 |
+
Which means if letting the founders keep control stops being perceived
|
| 58 |
+
as a concession, it will rapidly become much more common.<br /><br />Like a lot of changes that have been forced on VCs, this change
|
| 59 |
+
won't turn out to be as big a problem as they might think. VCs will
|
| 60 |
+
still be able to convince; they just won't be able to compel. And
|
| 61 |
+
the startups where they have to resort to compulsion are not the
|
| 62 |
+
ones that matter anyway. VCs make most of their money from a few
|
| 63 |
+
big hits, and those aren't them.<br /><br />Knowing that founders will keep control of the board may even help
|
| 64 |
+
VCs pick better. If they know they can't fire the founders, they'll
|
| 65 |
+
have to choose founders they can trust. And that's who they should
|
| 66 |
+
have been choosing all along.<br /><br /><br /><br /><br /><br /><b>Thanks</b> to Sam Altman, John Bautista, Trevor Blackwell, Paul
|
| 67 |
+
Buchheit, Brian Chesky, Bill Clerico, Patrick Collison, Adam
|
| 68 |
+
Goldstein, James Lindenbaum, Jessica Livingston, and Fred Wilson
|
| 69 |
+
for reading drafts of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 70 |
+
<script type="text/javascript">
|
| 71 |
+
csell_env = 'ue1';
|
| 72 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 73 |
+
</script>
|
| 74 |
+
|
| 75 |
+
<script type="text/javascript">
|
| 76 |
+
function toOSTN(node){
|
| 77 |
+
if(node.hasAttributes()){
|
| 78 |
+
for (const attr of node.attributes) {
|
| 79 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 80 |
+
}
|
| 81 |
+
}
|
| 82 |
+
};
|
| 83 |
+
document.addEventListener('readystatechange', event => {
|
| 84 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 85 |
+
if (event.target.readyState === "interactive") {
|
| 86 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 87 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 88 |
+
toOSTN(fromOSYN[i]);
|
| 89 |
+
}
|
| 90 |
+
}
|
| 91 |
+
}
|
| 92 |
+
});
|
| 93 |
+
</script>
|
| 94 |
+
<script type="text/javascript">
|
| 95 |
+
// Begin Store Generated Code
|
| 96 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 97 |
+
</script>
|
| 98 |
+
<script type="text/javascript">
|
| 99 |
+
// Begin Store Generated Code
|
| 100 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 101 |
+
</script>
|
| 102 |
+
<script type="text/javascript">
|
| 103 |
+
// Begin Store Generated Code
|
| 104 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'control'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 105 |
+
</script>
|
| 106 |
+
<script type="text/javascript">
|
| 107 |
+
// Begin Store Generated Code
|
| 108 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 109 |
+
</script>
|
| 110 |
+
<script type="text/javascript">
|
| 111 |
+
// Begin Store Generated Code
|
| 112 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=control&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 113 |
+
</script>
|
| 114 |
+
</html>
|
| 115 |
+
<!-- html107.prod.store.e1b.lumsb.com Sun Aug 24 02:50:53 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/convince.html
ADDED
|
@@ -0,0 +1,383 @@
|
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| 1 |
+
<html><head><title>How to Convince Investors</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc65><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc65 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-convince-investors-4.gif" width="221" height="18" border="0" hspace="0" vspace="0" alt="How to Convince Investors" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
August 2013<br /><br />When people hurt themselves lifting heavy things, it's usually
|
| 14 |
+
because they try to lift with their back. The right way to lift
|
| 15 |
+
heavy things is to let your legs do the work. Inexperienced founders
|
| 16 |
+
make the same mistake when trying to convince investors. They try
|
| 17 |
+
to convince with their pitch. Most would be better off if they let
|
| 18 |
+
their startup do the work — if they started by understanding why
|
| 19 |
+
their startup is worth investing in, then simply explained this
|
| 20 |
+
well to investors.<br /><br />Investors are looking for startups that will be very successful.
|
| 21 |
+
But that test is not as simple as it sounds. In startups, as in a
|
| 22 |
+
lot of other domains, the distribution of outcomes follows a power
|
| 23 |
+
law, but in startups the curve is startlingly steep. The big
|
| 24 |
+
successes are so big they
|
| 25 |
+
<a href="swan.html">dwarf</a> the rest. And since there are only
|
| 26 |
+
a handful each year (the conventional wisdom is 15), investors treat
|
| 27 |
+
"big success" as if it were binary. Most are interested in you if
|
| 28 |
+
you seem like you have a chance, however small, of being one of the
|
| 29 |
+
15 big successes, and otherwise not.
|
| 30 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />(There are a handful of angels who'd be interested in a company
|
| 31 |
+
with a high probability of being moderately successful. But angel
|
| 32 |
+
investors like big successes too.)<br /><br />How do you seem like you'll be one of the big successes? You need
|
| 33 |
+
three things: formidable founders, a promising market, and (usually)
|
| 34 |
+
some evidence of success so far.<br /><br /><b>Formidable</b><br /><br />The most important ingredient is formidable founders. Most investors
|
| 35 |
+
decide in the first few minutes whether you seem like a winner or
|
| 36 |
+
a loser, and once their opinion is set it's hard to change. <font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font>
|
| 37 |
+
Every startup has reasons both to invest and not to invest. If
|
| 38 |
+
investors think you're a winner they focus on the former, and if
|
| 39 |
+
not they focus on the latter. For example, it might be a rich
|
| 40 |
+
market, but with a slow sales cycle. If investors are impressed
|
| 41 |
+
with you as founders, they say they want to invest because it's a
|
| 42 |
+
rich market, and if not, they say they can't invest because of the
|
| 43 |
+
slow sales cycle.<br /><br />They're not necessarily trying to mislead you. Most investors are
|
| 44 |
+
genuinely unclear in their own minds why they like or dislike
|
| 45 |
+
startups. If you seem like a winner, they'll like your idea more.
|
| 46 |
+
But don't be too smug about this weakness of theirs, because you
|
| 47 |
+
have it too; almost everyone does.<br /><br />There is a role for ideas of course. They're fuel for the fire
|
| 48 |
+
that starts with liking the founders. Once investors like you,
|
| 49 |
+
you'll see them reaching for ideas: they'll be saying "yes, and you
|
| 50 |
+
could also do x." (Whereas when they don't like you, they'll be
|
| 51 |
+
saying "but what about y?")<br /><br />But the foundation of convincing investors is to seem formidable,
|
| 52 |
+
and since this isn't a word most people use in conversation much,
|
| 53 |
+
I should explain what it means. A formidable person is one who
|
| 54 |
+
seems like they'll get what they want, regardless of whatever
|
| 55 |
+
obstacles are in the way. Formidable is close to confident, except
|
| 56 |
+
that someone could be confident and mistaken. Formidable is roughly
|
| 57 |
+
justifiably confident.<br /><br />There are a handful of people who are really good at seeming
|
| 58 |
+
formidable — some because they actually are very formidable and
|
| 59 |
+
just let it show, and others because they are more or less con
|
| 60 |
+
artists.
|
| 61 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font>
|
| 62 |
+
But most founders, including many who will go on
|
| 63 |
+
to start very successful companies, are not that good at seeming
|
| 64 |
+
formidable the first time they try fundraising. What should they
|
| 65 |
+
do?
|
| 66 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font><br /><br />What they should not do is try to imitate the swagger of more
|
| 67 |
+
experienced founders. Investors are not always that good at judging
|
| 68 |
+
technology, but they're good at judging confidence. If you try to
|
| 69 |
+
act like something you're not, you'll just end up in an uncanny
|
| 70 |
+
valley. You'll depart from sincere, but never arrive at convincing.<br /><br /><b>Truth</b><br /><br />The way to seem most formidable as an inexperienced founder is to
|
| 71 |
+
stick to the truth. How formidable you seem isn't a constant. It
|
| 72 |
+
varies depending on what you're saying. Most people can seem
|
| 73 |
+
confident when they're saying "one plus one is two," because they
|
| 74 |
+
know it's true. The most diffident person would be puzzled and
|
| 75 |
+
even slightly contemptuous if they told a VC "one plus one is two"
|
| 76 |
+
and the VC reacted with skepticism. The magic ability of people
|
| 77 |
+
who are good at seeming formidable is that they can do this with
|
| 78 |
+
the sentence "we're going to make a billion dollars a year." But
|
| 79 |
+
you can do the same, if not with that sentence with some fairly
|
| 80 |
+
impressive ones, so long as you convince yourself first.<br /><br />That's the secret. Convince yourself that your startup is worth
|
| 81 |
+
investing in, and then when you explain this to investors they'll
|
| 82 |
+
believe you. And by convince yourself, I don't mean play mind games
|
| 83 |
+
with yourself to boost your confidence. I mean truly evaluate
|
| 84 |
+
whether your startup is worth investing in. If it isn't, don't try
|
| 85 |
+
to raise money.
|
| 86 |
+
<font color=#999999>[<a href="#f5n"><font color=#999999>5</font></a>]</font>
|
| 87 |
+
But if it is, you'll be telling the truth
|
| 88 |
+
when you tell investors it's worth investing in, and they'll sense
|
| 89 |
+
that. You don't have to be a smooth presenter if you understand
|
| 90 |
+
something well and tell the truth about it.<br /><br />To evaluate whether your startup is worth investing in, you have
|
| 91 |
+
to be a domain expert. If you're not a domain expert, you can be
|
| 92 |
+
as convinced as you like about your idea, and it will seem to
|
| 93 |
+
investors no more than an instance of the Dunning-Kruger effect.
|
| 94 |
+
Which in fact it will usually be. And investors can tell fairly
|
| 95 |
+
quickly whether you're a domain expert by how well you answer their
|
| 96 |
+
questions. Know everything about your market.
|
| 97 |
+
<font color=#999999>[<a href="#f6n"><font color=#999999>6</font></a>]</font><br /><br />Why do founders persist in trying to convince investors of things
|
| 98 |
+
they're not convinced of themselves? Partly because we've all been
|
| 99 |
+
trained to.<br /><br />When my friends Robert Morris and Trevor Blackwell were in grad
|
| 100 |
+
school, one of their fellow students was on the receiving end of a
|
| 101 |
+
question from their faculty advisor that we still quote today. When
|
| 102 |
+
the unfortunate fellow got to his last slide, the professor burst
|
| 103 |
+
out:
|
| 104 |
+
<blockquote>
|
| 105 |
+
Which one of these conclusions do you actually believe?
|
| 106 |
+
</blockquote>
|
| 107 |
+
One of the artifacts of the way schools are organized is that we
|
| 108 |
+
all get trained to talk even when we have nothing to say. If you
|
| 109 |
+
have a ten page paper due, then ten pages you must write, even if
|
| 110 |
+
you only have one page of ideas. Even if you have no ideas. You
|
| 111 |
+
have to produce something. And all too many startups go into
|
| 112 |
+
fundraising in the same spirit. When they think it's time to raise
|
| 113 |
+
money, they try gamely to make the best case they can for their
|
| 114 |
+
startup. Most never think of pausing beforehand to ask whether
|
| 115 |
+
what they're saying is actually convincing, because they've all
|
| 116 |
+
been trained to treat the need to present as a given — as an area
|
| 117 |
+
of fixed size, over which however much truth they have must needs
|
| 118 |
+
be spread, however thinly.<br /><br />The time to raise money is not when you need it, or when you reach
|
| 119 |
+
some artificial deadline like a Demo Day. It's when you can convince
|
| 120 |
+
investors, and not before.
|
| 121 |
+
<font color=#999999>[<a href="#f7n"><font color=#999999>7</font></a>]</font><br /><br />And unless you're a good con artist, you'll never convince investors
|
| 122 |
+
if you're not convinced yourself. They're far better at detecting
|
| 123 |
+
bullshit than you are at producing it, even if you're producing it
|
| 124 |
+
unknowingly. If you try to convince investors before you've convinced
|
| 125 |
+
yourself, you'll be wasting both your time.<br /><br />But pausing first to convince yourself will do more than save you
|
| 126 |
+
from wasting your time. It will force you to organize your thoughts.
|
| 127 |
+
To convince yourself that your startup is worth investing in, you'll
|
| 128 |
+
have to figure out why it's worth investing in. And if you can
|
| 129 |
+
do that you'll end up with more than added confidence. You'll also
|
| 130 |
+
have a provisional roadmap of how to succeed.<br /><br /><b>Market</b><br /><br />Notice I've been careful to talk about whether a startup is worth
|
| 131 |
+
investing in, rather than whether it's going to succeed. No one
|
| 132 |
+
knows whether a startup is going to succeed. And it's a good thing
|
| 133 |
+
for investors that this is so, because if you could know in advance
|
| 134 |
+
whether a startup would succeed, the stock price would already be
|
| 135 |
+
the future price, and there would be no room for investors to make
|
| 136 |
+
money. Startup investors know that every investment is a bet, and
|
| 137 |
+
against pretty long odds.<br /><br />So to prove you're worth investing in, you don't have to prove
|
| 138 |
+
you're going to succeed, just that you're a sufficiently good bet.
|
| 139 |
+
What makes a startup a sufficiently good bet? In addition to
|
| 140 |
+
formidable founders, you need a plausible path to owning a big piece
|
| 141 |
+
of a big market. Founders think of startups as ideas, but investors
|
| 142 |
+
think of them as markets. If there are x number of customers who'd
|
| 143 |
+
pay an average of $y per year for what you're making, then the total
|
| 144 |
+
addressable market, or TAM, of your company is $xy. Investors don't
|
| 145 |
+
expect you to collect all that money, but it's an upper bound on
|
| 146 |
+
how big you can get.<br /><br />Your target market has to be big, and it also has to be capturable
|
| 147 |
+
by you. But the market doesn't have to be big yet, nor do you
|
| 148 |
+
necessarily have to be in it yet. Indeed, it's often better to
|
| 149 |
+
start in a <a href="ds.html">small</a> market that will either turn into a big one or
|
| 150 |
+
from which you can move into a big one. There just has to be some
|
| 151 |
+
plausible sequence of hops that leads to dominating a big market a
|
| 152 |
+
few years down the line.<br /><br />The standard of plausibility varies dramatically depending on the
|
| 153 |
+
age of the startup. A three month old company at Demo Day only
|
| 154 |
+
needs to be a promising experiment that's worth funding to see how
|
| 155 |
+
it turns out. Whereas a two year old company raising a series A
|
| 156 |
+
round needs to be able to show the experiment worked.
|
| 157 |
+
<font color=#999999>[<a href="#f8n"><font color=#999999>8</font></a>]</font><br /><br />But every company that gets really big is "lucky" in the sense that
|
| 158 |
+
their growth is due mostly to some external wave they're riding,
|
| 159 |
+
so to make a convincing case for becoming huge, you have to identify
|
| 160 |
+
some specific trend you'll benefit from. Usually you can find this
|
| 161 |
+
by asking "why now?" If this is such a great idea, why hasn't
|
| 162 |
+
someone else already done it? Ideally the answer is that it only
|
| 163 |
+
recently became a good idea, because something changed, and no one
|
| 164 |
+
else has noticed yet.<br /><br />Microsoft for example was not going to grow huge selling Basic
|
| 165 |
+
interpreters. But by starting there they were perfectly poised to
|
| 166 |
+
expand up the stack of microcomputer software as microcomputers
|
| 167 |
+
grew powerful enough to support one. And microcomputers turned out
|
| 168 |
+
to be a really huge wave, bigger than even the most optimistic
|
| 169 |
+
observers would have predicted in 1975.<br /><br />But while Microsoft did really well and there is thus a temptation
|
| 170 |
+
to think they would have seemed a great bet a few months in, they
|
| 171 |
+
probably didn't. Good, but not great. No company, however successful,
|
| 172 |
+
ever looks more than a pretty good bet a few months in. Microcomputers
|
| 173 |
+
turned out to be a big deal, and Microsoft both executed well and
|
| 174 |
+
got lucky. But it was by no means obvious that this was how things
|
| 175 |
+
would play out. Plenty of companies seem as good a bet a few months
|
| 176 |
+
in. I don't know about startups in general, but at least half the
|
| 177 |
+
startups we fund could make as good a case as Microsoft could have
|
| 178 |
+
for being on a path to dominating a large market. And who can
|
| 179 |
+
reasonably expect more of a startup than that?<br /><br /><b>Rejection</b><br /><br />If you can make as good a case as Microsoft could have, will you
|
| 180 |
+
convince investors? Not always. A lot of VCs would have rejected
|
| 181 |
+
Microsoft.
|
| 182 |
+
<font color=#999999>[<a href="#f9n"><font color=#999999>9</font></a>]</font>
|
| 183 |
+
Certainly some rejected Google. And getting
|
| 184 |
+
rejected will put you in a slightly awkward position, because as
|
| 185 |
+
you'll see when you start fundraising, the most common question
|
| 186 |
+
you'll get from investors will be "who else is investing?" What do
|
| 187 |
+
you say if you've been fundraising for a while and no one has
|
| 188 |
+
committed yet?
|
| 189 |
+
<font color=#999999>[<a href="#f10n"><font color=#999999>10</font></a>]</font><br /><br />The people who are really good at acting formidable often solve
|
| 190 |
+
this problem by giving investors the impression that while no
|
| 191 |
+
investors have committed yet, several are about to. This is arguably
|
| 192 |
+
a permissible tactic. It's slightly dickish of investors to care
|
| 193 |
+
more about who else is investing than any other aspect of your
|
| 194 |
+
startup, and misleading them about how far along you are with other
|
| 195 |
+
investors seems the complementary countermove. It's arguably an
|
| 196 |
+
instance of scamming a scammer. But I don't recommend this approach
|
| 197 |
+
to most founders, because most founders wouldn't be able to carry
|
| 198 |
+
it off. This is the single most common lie told to investors, and
|
| 199 |
+
you have to be really good at lying to tell members of some profession
|
| 200 |
+
the most common lie they're told.<br /><br />If you're not a master of negotiation (and perhaps even if you are)
|
| 201 |
+
the best solution is to tackle the problem head-on, and to explain
|
| 202 |
+
why investors have turned you down and why they're mistaken. If
|
| 203 |
+
you know you're on the right track, then you also know why investors
|
| 204 |
+
were wrong to reject you. Experienced investors are well aware that
|
| 205 |
+
the best ideas are also the scariest. They all know about the VCs
|
| 206 |
+
who rejected Google. If instead of seeming evasive and ashamed
|
| 207 |
+
about having been turned down (and thereby implicitly agreeing with
|
| 208 |
+
the verdict) you talk candidly about what scared investors about
|
| 209 |
+
you, you'll seem more confident, which they like, and you'll probably
|
| 210 |
+
also do a better job of presenting that aspect of your startup. At
|
| 211 |
+
the very least, that worry will now be out in the open instead of
|
| 212 |
+
being a gotcha left to be discovered by the investors you're currently
|
| 213 |
+
talking to, who will be proud of and thus attached to their discovery.
|
| 214 |
+
<font color=#999999>[<a href="#f11n"><font color=#999999>11</font></a>]</font><br /><br />This strategy will work best with the best investors, who are both
|
| 215 |
+
hard to bluff and who already believe most other investors are
|
| 216 |
+
conventional-minded drones doomed always to miss the big outliers.
|
| 217 |
+
Raising money is not like applying to college, where you can assume
|
| 218 |
+
that if you can get into MIT, you can also get into Foobar State.
|
| 219 |
+
Because the best investors are much smarter than the rest, and the
|
| 220 |
+
best startup ideas look initially like
|
| 221 |
+
<a href="startupideas.html">bad ideas</a>, it's not uncommon
|
| 222 |
+
for a startup to be rejected by all the VCs except the best ones.
|
| 223 |
+
That's what happened to Dropbox. Y Combinator started in Boston,
|
| 224 |
+
and for the first 3 years we ran alternating batches in Boston and
|
| 225 |
+
Silicon Valley. Because Boston investors were so few and so timid,
|
| 226 |
+
we used to ship Boston batches out for a second Demo Day in Silicon
|
| 227 |
+
Valley. Dropbox was part of a Boston batch, which means all those
|
| 228 |
+
Boston investors got the first look at Dropbox, and none of them
|
| 229 |
+
closed the deal. Yet another backup and syncing thing, they all
|
| 230 |
+
thought. A couple weeks later, Dropbox raised a series A round
|
| 231 |
+
from Sequoia.
|
| 232 |
+
<font color=#999999>[<a href="#f12n"><font color=#999999>12</font></a>]</font><br /><br /><b>Different</b><br /><br />Not understanding that investors view investments as bets combines
|
| 233 |
+
with the ten page paper mentality to prevent founders from even
|
| 234 |
+
considering the possibility of being certain of what they're saying.
|
| 235 |
+
They think they're trying to convince investors of something very
|
| 236 |
+
uncertain — that their startup will be huge — and convincing anyone
|
| 237 |
+
of something like that must obviously entail some wild feat of
|
| 238 |
+
salesmanship. But in fact when you raise money you're trying to
|
| 239 |
+
convince investors of something so much less speculative — whether
|
| 240 |
+
the company has all the elements of a good bet — that you can
|
| 241 |
+
approach the problem in a qualitatively different way. You can
|
| 242 |
+
convince yourself, then convince them.<br /><br />And when you convince them, use the same matter-of-fact language
|
| 243 |
+
you used to convince yourself. You wouldn't use vague, grandiose
|
| 244 |
+
marketing-speak among yourselves. Don't use it with investors
|
| 245 |
+
either. It not only doesn't work on them, but seems a mark of
|
| 246 |
+
incompetence. Just be concise. Many investors explicitly use that
|
| 247 |
+
as a test, reasoning (correctly) that if you can't explain your
|
| 248 |
+
plans concisely, you don't really understand them. But even investors
|
| 249 |
+
who don't have a rule about this will be bored and frustrated by
|
| 250 |
+
unclear explanations.
|
| 251 |
+
<font color=#999999>[<a href="#f13n"><font color=#999999>13</font></a>]</font><br /><br />So here's the recipe for impressing investors when you're not already
|
| 252 |
+
good at seeming formidable:
|
| 253 |
+
<ol>
|
| 254 |
+
<li> Make something worth investing in.<br /><br /><li> Understand why it's worth investing in.<br /><br /><li> Explain that clearly to investors.
|
| 255 |
+
</ol>
|
| 256 |
+
If you're saying something you know is true, you'll seem confident
|
| 257 |
+
when you're saying it. Conversely, never let pitching draw you
|
| 258 |
+
into bullshitting. As long as you stay on the territory of truth,
|
| 259 |
+
you're strong. Make the truth good, then just tell it.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 260 |
+
There's no reason to believe this number is a constant. In
|
| 261 |
+
fact it's our explicit goal at Y Combinator to increase it, by
|
| 262 |
+
encouraging people to start startups who otherwise wouldn't have.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 263 |
+
Or more precisely, investors decide whether you're a loser
|
| 264 |
+
or possibly a winner. If you seem like a winner, they may then,
|
| 265 |
+
depending on how much you're raising, have several more meetings
|
| 266 |
+
with you to test whether that initial impression holds up.<br /><br />But if you seem like a loser they're done, at least for the next
|
| 267 |
+
year or so. And when they decide you're a loser they usually decide
|
| 268 |
+
in way less than the 50 minutes they may have allotted for the first
|
| 269 |
+
meeting. Which explains the astonished stories one always hears
|
| 270 |
+
about VC inattentiveness. How could these people make investment
|
| 271 |
+
decisions well when they're checking their messages during startups'
|
| 272 |
+
presentations? The solution to that mystery is that they've already
|
| 273 |
+
made the decision.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 274 |
+
The two are not mutually exclusive. There are people who are
|
| 275 |
+
both genuinely formidable, and also really good at acting that way.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 276 |
+
How can people who will go on to create giant companies not
|
| 277 |
+
seem formidable early on? I think the main reason is that their
|
| 278 |
+
experience so far has trained them to keep their wings folded, as
|
| 279 |
+
it were. Family, school, and jobs encourage cooperation, not
|
| 280 |
+
conquest. And it's just as well they do, because even being Genghis
|
| 281 |
+
Khan is probably 99% cooperation. But the result is that most
|
| 282 |
+
people emerge from the tube of their upbringing in their early
|
| 283 |
+
twenties compressed into the shape of the tube. Some find they
|
| 284 |
+
have wings and start to spread them. But this takes a few years.
|
| 285 |
+
In the beginning even they don't know yet what they're capable of.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 286 |
+
In fact, change what you're doing. You're investing your own
|
| 287 |
+
time in your startup. If you're not convinced that what you're
|
| 288 |
+
working on is a sufficiently good bet, why are you even working on
|
| 289 |
+
that?<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 290 |
+
When investors ask you a question you don't know the answer
|
| 291 |
+
to, the best response is neither to bluff nor give up, but instead
|
| 292 |
+
to explain how you'd figure out the answer. If you can work out a
|
| 293 |
+
preliminary answer on the spot, so much the better, but explain
|
| 294 |
+
that's what you're doing.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 295 |
+
At YC we try to ensure startups are ready to raise money on
|
| 296 |
+
Demo Day by encouraging them to ignore investors and instead focus
|
| 297 |
+
on their companies till about a week before. That way most reach
|
| 298 |
+
the stage where they're sufficiently convincing well before Demo
|
| 299 |
+
Day. But not all do, so we also give any startup that wants to the
|
| 300 |
+
option of deferring to a later Demo Day.<br /><br />[<a name="f8n"><font color=#000000>8</font></a>]
|
| 301 |
+
Founders are often surprised by how much harder it is to raise
|
| 302 |
+
the next round. There is a qualitative difference in investors'
|
| 303 |
+
attitudes. It's like the difference between being judged as a kid
|
| 304 |
+
and as an adult. The next time you raise money, it's not enough
|
| 305 |
+
to be promising. You have to be delivering results.<br /><br />So although it works well to show growth graphs at either stage,
|
| 306 |
+
investors treat them differently. At three months, a growth graph
|
| 307 |
+
is mostly evidence that the founders are effective. At two years,
|
| 308 |
+
it has to be evidence of a promising market and a company tuned to
|
| 309 |
+
exploit it.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 310 |
+
By this I mean that if the present day equivalent of the 3
|
| 311 |
+
month old Microsoft presented at a Demo Day, there would be investors
|
| 312 |
+
who turned them down. Microsoft itself didn't raise outside money,
|
| 313 |
+
and indeed the venture business barely existed when they got started
|
| 314 |
+
in 1975.<br /><br />[<a name="f10n"><font color=#000000>10</font></a>]
|
| 315 |
+
The best investors rarely care who else is investing, but
|
| 316 |
+
mediocre investors almost all do. So you can use this question as
|
| 317 |
+
a test of investor quality.<br /><br />[<a name="f11n"><font color=#000000>11</font></a>]
|
| 318 |
+
To use this technique, you'll have to find out why investors
|
| 319 |
+
who rejected you did so, or at least what they claim was the reason.
|
| 320 |
+
That may require asking, because investors don't always volunteer
|
| 321 |
+
a lot of detail. Make it clear when you ask that you're not trying
|
| 322 |
+
to dispute their decision — just that if there is some weakness in
|
| 323 |
+
your plans, you need to know about it. You won't always get a real
|
| 324 |
+
reason out of them, but you should at least try.<br /><br />[<a name="f12n"><font color=#000000>12</font></a>]
|
| 325 |
+
Dropbox wasn't rejected by all the East Coast VCs. There was
|
| 326 |
+
one firm that wanted to invest but tried to lowball them.<br /><br />[<a name="f13n"><font color=#000000>13</font></a>]
|
| 327 |
+
Alfred Lin points out that it's doubly important for the
|
| 328 |
+
explanation of a startup to be clear and concise, because it has
|
| 329 |
+
to convince at one remove: it has to work not just on the partner
|
| 330 |
+
you talk to, but when that partner re-tells it to colleagues.<br /><br />We consciously optimize for this at YC. When we work with founders
|
| 331 |
+
create a Demo Day pitch, the last step is to imagine how an investor
|
| 332 |
+
would sell it to colleagues.<br /><br />
|
| 333 |
+
<b>Thanks</b> to Marc Andreessen, Sam Altman, Patrick Collison, Ron Conway,
|
| 334 |
+
Chris Dixon, Alfred Lin, Ben Horowitz, Steve Huffman, Jessica
|
| 335 |
+
Livingston, Greg Mcadoo, Andrew Mason, Geoff Ralston, Yuri Sagalov,
|
| 336 |
+
Emmett Shear, Rajat Suri, Garry Tan, Albert Wenger, Fred Wilson,
|
| 337 |
+
and Qasar Younis for reading drafts of this.<br /><br /><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/corpdev.html
ADDED
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| 1 |
+
<html><head><title>Don't Talk to Corp Dev</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc79><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc79 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/don-t-talk-to-corp-dev-4.gif" width="187" height="18" border="0" hspace="0" vspace="0" alt="Don't Talk to Corp Dev" /><br /><br /><font size="2" face="verdana">January 2015<br /><br />Corporate Development, aka corp dev, is the group within companies
|
| 4 |
+
that buys other companies. If you're talking to someone from corp
|
| 5 |
+
dev, that's why, whether you realize it yet or not.<br /><br />It's usually a mistake to talk to corp dev unless (a) you want to
|
| 6 |
+
sell your company right now and (b) you're sufficiently likely to
|
| 7 |
+
get an offer at an acceptable price. In practice that means startups
|
| 8 |
+
should only talk to corp dev when they're either doing really well
|
| 9 |
+
or really badly. If you're doing really badly, meaning the company
|
| 10 |
+
is about to die, you may as well talk to them, because you have
|
| 11 |
+
nothing to lose. And if you're doing really well, you can safely
|
| 12 |
+
talk to them, because you both know the price will have to be high,
|
| 13 |
+
and if they show the slightest sign of wasting your time, you'll
|
| 14 |
+
be confident enough to tell them to get lost.<br /><br />The danger is to companies in the middle. Particularly to young
|
| 15 |
+
companies that are growing fast, but haven't been doing it for long
|
| 16 |
+
enough to have grown big yet. It's usually a mistake for a promising
|
| 17 |
+
company less than a year old even to talk to corp dev.<br /><br />But it's a mistake founders constantly make. When someone from
|
| 18 |
+
corp dev wants to meet, the founders tell themselves they should
|
| 19 |
+
at least find out what they want. Besides, they don't want to
|
| 20 |
+
offend Big Company by refusing to meet.<br /><br />Well, I'll tell you what they want. They want to talk about buying
|
| 21 |
+
you. That's what the title "corp dev" means. So before agreeing
|
| 22 |
+
to meet with someone from corp dev, ask yourselves, "Do we want to
|
| 23 |
+
sell the company right now?" And if the answer is no, tell them
|
| 24 |
+
"Sorry, but we're focusing on growing the company." They won't be
|
| 25 |
+
offended. And certainly the founders of Big Company won't be
|
| 26 |
+
offended. If anything they'll think more highly of you. You'll
|
| 27 |
+
remind them of themselves. They didn't sell either; that's why
|
| 28 |
+
they're in a position now to buy other companies.
|
| 29 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />Most founders who get contacted by corp dev already know what it
|
| 30 |
+
means. And yet even when they know what corp dev does and know
|
| 31 |
+
they don't want to sell, they take the meeting. Why do they do it?
|
| 32 |
+
The same mix of denial and wishful thinking that underlies most
|
| 33 |
+
mistakes founders make. It's flattering to talk to someone who wants
|
| 34 |
+
to buy you. And who knows, maybe their offer will be surprisingly
|
| 35 |
+
high. You should at least see what it is, right?<br /><br />No. If they were going to send you an offer immediately by email,
|
| 36 |
+
sure, you might as well open it. But that is not how conversations
|
| 37 |
+
with corp dev work. If you get an offer at all, it will be at the
|
| 38 |
+
end of a long and unbelievably distracting process. And if the
|
| 39 |
+
offer is surprising, it will be surprisingly low.<br /><br />Distractions are the thing you can least afford in a startup. And
|
| 40 |
+
conversations with corp dev are the worst sort of distraction,
|
| 41 |
+
because as well as consuming your <a href="top.html">attention</a> they undermine your
|
| 42 |
+
morale. One of the tricks to surviving a grueling process is not
|
| 43 |
+
to stop and think how tired you are. Instead you get into a sort
|
| 44 |
+
of flow.
|
| 45 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font>
|
| 46 |
+
Imagine what it would do to you if at mile 20 of a
|
| 47 |
+
marathon, someone ran up beside you and said "You must feel really
|
| 48 |
+
tired. Would you like to stop and take a rest?" Conversations
|
| 49 |
+
with corp dev are like that but worse, because the suggestion of
|
| 50 |
+
stopping gets combined in your mind with the imaginary high price
|
| 51 |
+
you think they'll offer.<br /><br />And then you're really in trouble. If they can, corp dev people
|
| 52 |
+
like to turn the tables on you. They like to get you to the point
|
| 53 |
+
where you're trying to convince them to buy instead of them trying
|
| 54 |
+
to convince you to sell. And surprisingly often they succeed.<br /><br />This is a very slippery slope, greased with some of the most powerful
|
| 55 |
+
forces that can work on founders' minds, and attended by an experienced
|
| 56 |
+
professional whose full time job is to push you down it.<br /><br />Their tactics in pushing you down that slope are usually fairly
|
| 57 |
+
brutal. Corp dev people's whole job is to buy companies, and they
|
| 58 |
+
don't even get to choose which. The only way their performance is
|
| 59 |
+
measured is by how cheaply they can buy you, and the more ambitious
|
| 60 |
+
ones will stop at nothing to achieve that. For example, they'll
|
| 61 |
+
almost always start with a lowball offer, just to see if you'll
|
| 62 |
+
take it. Even if you don't, a low initial offer will demoralize you
|
| 63 |
+
and make you easier to manipulate.<br /><br />And that is the most innocent of their tactics. Just wait till
|
| 64 |
+
you've agreed on a price and think you have a done deal, and then
|
| 65 |
+
they come back and say their boss has vetoed the deal and won't do
|
| 66 |
+
it for more than half the agreed upon price. Happens all the time.
|
| 67 |
+
If you think investors can behave badly, it's nothing compared to
|
| 68 |
+
what corp dev people can do. Even corp dev people at companies
|
| 69 |
+
that are otherwise benevolent.<br /><br />I remember once complaining to a
|
| 70 |
+
friend at Google about some nasty trick their corp dev people had
|
| 71 |
+
pulled on a YC startup.<br /><br />"What happened to Don't be Evil?" I asked.<br /><br />"I don't think corp dev got the memo," he replied.<br /><br />The tactics you encounter in M&A conversations can be like nothing
|
| 72 |
+
you've experienced in the otherwise comparatively
|
| 73 |
+
<a href="mean.html">upstanding</a> world
|
| 74 |
+
of Silicon Valley. It's as if a chunk of genetic material from the
|
| 75 |
+
old-fashioned robber baron business world got incorporated into the
|
| 76 |
+
startup world.
|
| 77 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font><br /><br />The simplest way to protect yourself is to use the trick that John
|
| 78 |
+
D. Rockefeller, whose grandfather was an alcoholic, used to protect
|
| 79 |
+
himself from becoming one. He once told a Sunday school class
|
| 80 |
+
<blockquote>
|
| 81 |
+
Boys, do you know why I never became a drunkard? Because I never
|
| 82 |
+
took the first drink.
|
| 83 |
+
</blockquote>
|
| 84 |
+
Do you want to sell your company right now? Not eventually, right
|
| 85 |
+
now. If not, just don't take the first meeting. They won't be
|
| 86 |
+
offended. And you in turn will be guaranteed to be spared one of
|
| 87 |
+
the worst experiences that can happen to a startup.<br /><br />If you do want to sell, there's another set of
|
| 88 |
+
<a href="https://justinkan.com/the-founders-guide-to-selling-your-company-a1b2025c9481">techniques
|
| 89 |
+
</a> for doing
|
| 90 |
+
that. But the biggest mistake founders make in dealing with corp
|
| 91 |
+
dev is not doing a bad job of talking to them when they're ready
|
| 92 |
+
to, but talking to them before they are. So if you remember only
|
| 93 |
+
the title of this essay, you already know most of what you need to
|
| 94 |
+
know about M&A in the first year.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 95 |
+
I'm not saying you should never sell. I'm saying you should
|
| 96 |
+
be clear in your own mind about whether you want to sell or not,
|
| 97 |
+
and not be led by manipulation or wishful thinking into trying to
|
| 98 |
+
sell earlier than you otherwise would have.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 99 |
+
In a startup, as in most competitive sports, the task at hand
|
| 100 |
+
almost does this for you; you're too busy to feel tired. But when
|
| 101 |
+
you lose that protection, e.g. at the final whistle, the fatigue
|
| 102 |
+
hits you like a wave. To talk to corp dev is to let yourself feel
|
| 103 |
+
it mid-game.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 104 |
+
To be fair, the apparent misdeeds of corp dev people are magnified
|
| 105 |
+
by the fact that they function as the face of a large organization
|
| 106 |
+
that often doesn't know its own mind. Acquirers can be surprisingly
|
| 107 |
+
indecisive about acquisitions, and their flakiness is indistinguishable
|
| 108 |
+
from dishonesty by the time it filters down to you.<br /><br /><b>Thanks</b> to Marc Andreessen, Jessica Livingston, Geoff
|
| 109 |
+
Ralston, and Qasar Younis for reading drafts of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 110 |
+
<script type="text/javascript">
|
| 111 |
+
csell_env = 'ue1';
|
| 112 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 113 |
+
</script>
|
| 114 |
+
|
| 115 |
+
<script type="text/javascript">
|
| 116 |
+
function toOSTN(node){
|
| 117 |
+
if(node.hasAttributes()){
|
| 118 |
+
for (const attr of node.attributes) {
|
| 119 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 120 |
+
}
|
| 121 |
+
}
|
| 122 |
+
};
|
| 123 |
+
document.addEventListener('readystatechange', event => {
|
| 124 |
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if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
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if (event.target.readyState === "interactive") {
|
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fromOSYN = document.getElementsByTagName('form');
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for (let i = 0; i < fromOSYN.length; i++) {
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| 128 |
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| 129 |
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}
|
| 130 |
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}
|
| 131 |
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}
|
| 132 |
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});
|
| 133 |
+
</script>
|
| 134 |
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<script type="text/javascript">
|
| 135 |
+
// Begin Store Generated Code
|
| 136 |
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</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 137 |
+
</script>
|
| 138 |
+
<script type="text/javascript">
|
| 139 |
+
// Begin Store Generated Code
|
| 140 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 141 |
+
</script>
|
| 142 |
+
<script type="text/javascript">
|
| 143 |
+
// Begin Store Generated Code
|
| 144 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'corpdev'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 145 |
+
</script>
|
| 146 |
+
<script type="text/javascript">
|
| 147 |
+
// Begin Store Generated Code
|
| 148 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 149 |
+
</script>
|
| 150 |
+
<script type="text/javascript">
|
| 151 |
+
// Begin Store Generated Code
|
| 152 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=corpdev&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 153 |
+
</script>
|
| 154 |
+
</html>
|
| 155 |
+
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/cred.html
ADDED
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@@ -0,0 +1,69 @@
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|
| 1 |
+
<html><head><title>Coronavirus and Credibility</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebcaf><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebcaf border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/coronavirus-and-credibility-4.gif" width="229" height="18" border="0" hspace="0" vspace="0" alt="Coronavirus and Credibility" /><br /><br /><font size="2" face="verdana">April 2020<br /><br />I recently saw a
|
| 4 |
+
<a href="https://www.youtube.com/watch?v=NAh4uS4f78o"><u>video</u></a>
|
| 5 |
+
of TV journalists and politicians confidently
|
| 6 |
+
saying that the coronavirus would be no worse than the flu. What
|
| 7 |
+
struck me about it was not just how mistaken they seemed, but how
|
| 8 |
+
daring. How could they feel safe saying such things?<br /><br />The answer, I realized, is that they didn't think they could get
|
| 9 |
+
caught. They didn't realize there was any danger in making false
|
| 10 |
+
predictions. These people constantly make false predictions, and
|
| 11 |
+
get away with it, because the things they make predictions about
|
| 12 |
+
either have mushy enough outcomes that they can bluster their way
|
| 13 |
+
out of trouble, or happen so far in the future that few remember
|
| 14 |
+
what they said.<br /><br />An epidemic is different. It falsifies your predictions rapidly and
|
| 15 |
+
unequivocally.<br /><br />But epidemics are rare enough that these people clearly
|
| 16 |
+
didn't realize this was even a possibility. Instead they just
|
| 17 |
+
continued to use their ordinary m.o., which, as the epidemic has
|
| 18 |
+
made clear, is to talk confidently about things they don't
|
| 19 |
+
understand.<br /><br />An event like this is thus a uniquely powerful way of taking people's
|
| 20 |
+
measure. As Warren Buffett said, "It's only when the tide goes out
|
| 21 |
+
that you learn who's been swimming naked." And the tide has just
|
| 22 |
+
gone out like never before.<br /><br />Now that we've seen the results, let's remember what we saw, because
|
| 23 |
+
this is the most accurate test of credibility we're ever likely to have. I hope.<br /><br /><br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://medium.com/brandin-kirjasto/koronavirus-ja-uskottavuus-6054bd52c335">Finnish Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://www.noahleidinger.com/unlisted/graham-coronavirus">German Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://corrigan2.blogspot.com/p/coronavirus-et-credibilite-paul-graham.html">French Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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<script type="text/javascript">
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<script type="text/javascript">
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// Begin Store Generated Code
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</script>
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<script type="text/javascript">
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// Begin Store Generated Code
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|
| 68 |
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|
| 69 |
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/disc.html
ADDED
|
@@ -0,0 +1,73 @@
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|
| 1 |
+
<html><head><title>The Risk of Discovery</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc59><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc59 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/the-risk-of-discovery-4.gif" width="177" height="18" border="0" hspace="0" vspace="0" alt="The Risk of Discovery" /><br /><br /><font size="2" face="verdana">January 2017<br /><br />Because biographies of famous scientists tend to
|
| 4 |
+
edit out their mistakes, we underestimate the
|
| 5 |
+
degree of risk they were willing to take.
|
| 6 |
+
And because anything a famous scientist did that
|
| 7 |
+
wasn't a mistake has probably now become the
|
| 8 |
+
conventional wisdom, those choices don't
|
| 9 |
+
seem risky either.<br /><br />Biographies of Newton, for example, understandably focus
|
| 10 |
+
more on physics than alchemy or theology.
|
| 11 |
+
The impression we get is that his unerring judgment
|
| 12 |
+
led him straight to truths no one else had noticed.
|
| 13 |
+
How to explain all the time he spent on alchemy
|
| 14 |
+
and theology? Well, smart people are often kind of
|
| 15 |
+
crazy.<br /><br />But maybe there is a simpler explanation. Maybe
|
| 16 |
+
the smartness and the craziness were not as separate
|
| 17 |
+
as we think. Physics seems to us a promising thing
|
| 18 |
+
to work on, and alchemy and theology obvious wastes
|
| 19 |
+
of time. But that's because we know how things
|
| 20 |
+
turned out. In Newton's day the three problems
|
| 21 |
+
seemed roughly equally promising. No one knew yet
|
| 22 |
+
what the payoff would be for inventing what we
|
| 23 |
+
now call physics; if they had, more people would
|
| 24 |
+
have been working on it. And alchemy and theology
|
| 25 |
+
were still then in the category Marc Andreessen would
|
| 26 |
+
describe as "huge, if true."<br /><br />Newton made three bets. One of them worked. But
|
| 27 |
+
they were all risky.<br /><br /><br /><br /><br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://note.com/tokyojack/n/n6f02daf57237">Japanese Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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|
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<script type="text/javascript">
|
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|
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<script type="text/javascript">
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|
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</script>
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<script type="text/javascript">
|
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// Begin Store Generated Code
|
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|
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+
</script>
|
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+
</html>
|
| 73 |
+
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/discover.html
ADDED
|
@@ -0,0 +1,174 @@
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|
| 1 |
+
<html><head><title>Persuade xor Discover </title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc3f><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc3f border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/persuade-xor-discover-2.gif" width="187" height="18" border="0" hspace="0" vspace="0" alt="Persuade xor Discover " /><br /><br /><font size="2" face="verdana">September 2009<br /><br />When meeting people you don't know very well, the convention is
|
| 4 |
+
to seem extra friendly. You smile and say "pleased to meet you,"
|
| 5 |
+
whether you are or not. There's nothing dishonest about this.
|
| 6 |
+
Everyone knows that these little social lies aren't meant
|
| 7 |
+
to be taken literally, just as everyone knows that
|
| 8 |
+
"Can you pass the salt?" is only grammatically a question.<br /><br />I'm perfectly willing to smile and say "pleased to meet you"
|
| 9 |
+
when meeting new people. But there is another set of
|
| 10 |
+
customs for being ingratiating in print that are not so
|
| 11 |
+
harmless.<br /><br />The reason there's a convention of being ingratiating in print
|
| 12 |
+
is that most essays are written to persuade.
|
| 13 |
+
And as any politician could tell
|
| 14 |
+
you, the way to persuade people is not just to baldly state the
|
| 15 |
+
facts. You have to add a spoonful of sugar to make the medicine
|
| 16 |
+
go down.<br /><br />For example, a politician announcing the cancellation of
|
| 17 |
+
a government program will not merely say "The
|
| 18 |
+
program is canceled." That would seem offensively
|
| 19 |
+
curt. Instead he'll spend most of his time talking about the
|
| 20 |
+
noble effort made by the people who worked on it.<br /><br />The reason these conventions are more dangerous is that they
|
| 21 |
+
interact with the ideas. Saying "pleased to meet you" is just
|
| 22 |
+
something you prepend to a conversation, but the sort of spin
|
| 23 |
+
added by politicians is woven through it. We're starting to
|
| 24 |
+
move from social lies to real lies.<br /><br />Here's an example of a paragraph from an essay I wrote about
|
| 25 |
+
<a href="unions.html">labor unions</a>. As written,
|
| 26 |
+
it tends to offend people who like unions.
|
| 27 |
+
<blockquote>
|
| 28 |
+
People who think the labor movement was the creation of heroic
|
| 29 |
+
union organizers have a problem to explain: why are unions shrinking
|
| 30 |
+
now? The best they can do is fall back on the default explanation
|
| 31 |
+
of people living in fallen civilizations. Our ancestors were
|
| 32 |
+
giants. The workers of the early twentieth century must have had
|
| 33 |
+
a moral courage that's lacking today.
|
| 34 |
+
</blockquote>
|
| 35 |
+
Now here's the same paragraph rewritten to please instead of
|
| 36 |
+
offending them:
|
| 37 |
+
<blockquote>
|
| 38 |
+
Early union organizers made heroic sacrifices to improve conditions
|
| 39 |
+
for workers. But though
|
| 40 |
+
labor unions are shrinking now, it's not because present union
|
| 41 |
+
leaders are any less courageous. An employer couldn't get away
|
| 42 |
+
with hiring thugs to beat up union leaders today, but if they
|
| 43 |
+
did, I see no reason to believe today's union leaders would shrink
|
| 44 |
+
from the challenge. So I think it would be a mistake to attribute
|
| 45 |
+
the decline of unions to some kind of decline in the people who
|
| 46 |
+
run them. Early union leaders were heroic, certainly, but we
|
| 47 |
+
should not suppose that if unions have declined, it's because
|
| 48 |
+
present union leaders are somehow inferior. The cause must be
|
| 49 |
+
external.
|
| 50 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font>
|
| 51 |
+
</blockquote>
|
| 52 |
+
It makes the same point: that it can't have been the personal
|
| 53 |
+
qualities of early union organizers that made unions successful,
|
| 54 |
+
but must have been some external factor, or otherwise present-day
|
| 55 |
+
union leaders would have to be inferior people. But written this
|
| 56 |
+
way it seems like a defense of present-day union organizers rather
|
| 57 |
+
than an attack on early ones. That makes it more persuasive to
|
| 58 |
+
people who like unions, because it seems sympathetic to their cause.<br /><br />I believe everything I wrote in the second version. Early union
|
| 59 |
+
leaders did make heroic sacrifices. And
|
| 60 |
+
present union leaders probably would rise to the occasion if
|
| 61 |
+
necessary. People tend to; I'm skeptical about the idea of "the
|
| 62 |
+
greatest generation."
|
| 63 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br />If I believe everything I said in the second version, why didn't I
|
| 64 |
+
write it that way? Why offend people needlessly?<br /><br />Because I'd rather offend people than pander to them,
|
| 65 |
+
and if you write about controversial topics you have to choose one or the other. The degree of
|
| 66 |
+
courage of past or present union leaders is beside the point; all
|
| 67 |
+
that matters for the argument is that they're the same.
|
| 68 |
+
But if you want to please
|
| 69 |
+
people who are mistaken, you can't simply tell the truth. You're
|
| 70 |
+
always going to have to add some sort of padding to protect their
|
| 71 |
+
misconceptions from bumping against reality.<br /><br />Most writers do. Most writers write to persuade, if only out of
|
| 72 |
+
habit or politeness. But I don't write to persuade; I write to
|
| 73 |
+
figure out. I write to persuade a hypothetical perfectly unbiased
|
| 74 |
+
reader.<br /><br />Since the custom is to write to persuade the actual reader, someone
|
| 75 |
+
who doesn't will seem arrogant. In fact, worse than arrogant: since
|
| 76 |
+
readers are used to essays that try to please someone, an essay
|
| 77 |
+
that displeases one side in a dispute reads as an attempt to pander
|
| 78 |
+
to the other. To a lot of pro-union readers, the first paragraph
|
| 79 |
+
sounds like the sort of thing a right-wing radio talk show host
|
| 80 |
+
would say to stir up his followers. But it's not. Something that
|
| 81 |
+
curtly contradicts one's beliefs can be hard to distinguish from a
|
| 82 |
+
partisan attack on them, but though they can end up in the same
|
| 83 |
+
place they come from different sources.<br /><br />Would it be so bad to add a few extra words, to make people feel
|
| 84 |
+
better? Maybe not. Maybe I'm excessively attached to conciseness.
|
| 85 |
+
I write <a href="power.html">code</a> the same way I write essays,
|
| 86 |
+
making pass after pass
|
| 87 |
+
looking for anything I can cut. But I have a legitimate reason for
|
| 88 |
+
doing this. You don't know what the ideas are until you get them
|
| 89 |
+
down to the fewest words.
|
| 90 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font><br /><br />The danger of the second paragraph
|
| 91 |
+
is not merely that it's longer. It's that you start to lie to
|
| 92 |
+
yourself. The ideas start to get mixed together with the spin
|
| 93 |
+
you've added to get them past the readers' misconceptions.<br /><br />I think the goal of an essay should be to discover
|
| 94 |
+
<a href="essay.html">surprising</a> things. That's my goal, at least.
|
| 95 |
+
And most surprising means most different from what people currently
|
| 96 |
+
believe. So writing to persuade and writing to discover are
|
| 97 |
+
diametrically opposed. The more your conclusions disagree with
|
| 98 |
+
readers' present beliefs, the more effort you'll have to expend on
|
| 99 |
+
selling your ideas rather than having them. As you accelerate,
|
| 100 |
+
this drag increases, till eventually you reach a point where 100%
|
| 101 |
+
of your energy is devoted to overcoming it and you can't go any
|
| 102 |
+
faster.<br /><br />It's hard enough to overcome one's own misconceptions without having
|
| 103 |
+
to think about how to get the resulting ideas past other people's.
|
| 104 |
+
I worry that if I wrote to persuade, I'd start to shy away unconsciously
|
| 105 |
+
from ideas I knew would be hard to sell. When I notice something
|
| 106 |
+
surprising, it's usually very faint at first. There's nothing more
|
| 107 |
+
than a slight stirring of discomfort. I don't want anything to get
|
| 108 |
+
in the way of noticing it consciously.<br /><br /><br /><br /><br /><br /><br /><br />
|
| 109 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 110 |
+
I had a strange feeling of being back in high school writing
|
| 111 |
+
this. To get a good grade you had to both write the sort of pious
|
| 112 |
+
crap you were expected to, but also seem to be writing with conviction.
|
| 113 |
+
The solution was a kind of method acting. It was revoltingly
|
| 114 |
+
familiar to slip back into it.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 115 |
+
Exercise for the reader:
|
| 116 |
+
rephrase that thought to please the same people the first version
|
| 117 |
+
would offend.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 118 |
+
Come to think of it, there is one way in which I deliberately
|
| 119 |
+
pander to readers, because it doesn't change the number of words:
|
| 120 |
+
I switch person. This flattering distinction seems so natural to
|
| 121 |
+
the average reader that they probably don't notice even when I
|
| 122 |
+
switch in mid-sentence, though you tend to notice when it's done
|
| 123 |
+
as conspicuously as this.<br /><br /><b>Thanks</b> to Jessica Livingston and Robert Morris
|
| 124 |
+
for reading drafts of this.<br /><br /><b>Note:</b> An earlier version of this essay began by talking
|
| 125 |
+
about why people dislike Michael Arrington. I now believe that
|
| 126 |
+
was mistaken, and that most people don't dislike him for the
|
| 127 |
+
same reason I did when I first met him, but simply because
|
| 128 |
+
he writes about controversial things.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 129 |
+
<script type="text/javascript">
|
| 130 |
+
csell_env = 'ue1';
|
| 131 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 132 |
+
</script>
|
| 133 |
+
|
| 134 |
+
<script type="text/javascript">
|
| 135 |
+
function toOSTN(node){
|
| 136 |
+
if(node.hasAttributes()){
|
| 137 |
+
for (const attr of node.attributes) {
|
| 138 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 139 |
+
}
|
| 140 |
+
}
|
| 141 |
+
};
|
| 142 |
+
document.addEventListener('readystatechange', event => {
|
| 143 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 144 |
+
if (event.target.readyState === "interactive") {
|
| 145 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 146 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 147 |
+
toOSTN(fromOSYN[i]);
|
| 148 |
+
}
|
| 149 |
+
}
|
| 150 |
+
}
|
| 151 |
+
});
|
| 152 |
+
</script>
|
| 153 |
+
<script type="text/javascript">
|
| 154 |
+
// Begin Store Generated Code
|
| 155 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 156 |
+
</script>
|
| 157 |
+
<script type="text/javascript">
|
| 158 |
+
// Begin Store Generated Code
|
| 159 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 160 |
+
</script>
|
| 161 |
+
<script type="text/javascript">
|
| 162 |
+
// Begin Store Generated Code
|
| 163 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'discover'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 164 |
+
</script>
|
| 165 |
+
<script type="text/javascript">
|
| 166 |
+
// Begin Store Generated Code
|
| 167 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 168 |
+
</script>
|
| 169 |
+
<script type="text/javascript">
|
| 170 |
+
// Begin Store Generated Code
|
| 171 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=discover&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 172 |
+
</script>
|
| 173 |
+
</html>
|
| 174 |
+
<!-- html109.prod.store.e1b.lumsb.com Sun Aug 24 02:50:55 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/do.html
ADDED
|
@@ -0,0 +1,175 @@
|
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| 1 |
+
<html><head><meta name="Keywords" content="" /><title>What to Do</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/bel-6.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=bb9f6831daad29><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/bel-7.gif" width="69" height="357" usemap=#bb9f6831daad29 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/bel-8.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/what-to-do-1.gif" width="93" height="18" border="0" hspace="0" vspace="0" alt="What to Do" /><br /><br /><font size="2" face="verdana">March 2025<br /><br />What should one do? That may seem a strange question, but it's not
|
| 4 |
+
meaningless or unanswerable. It's the sort of question kids ask
|
| 5 |
+
before they learn not to ask big questions. I only came across it
|
| 6 |
+
myself in the process of investigating something else. But once I
|
| 7 |
+
did, I thought I should at least try to answer it.<br /><br />So what <i>should</i> one do? One should help people, and take care of
|
| 8 |
+
the world. Those two are obvious. But is there anything else? When
|
| 9 |
+
I ask that, the answer that pops up is <i>Make good new things</i>.<br /><br />I can't prove that one should do this, any more than I can prove
|
| 10 |
+
that one should help people or take care of the world. We're talking
|
| 11 |
+
about first principles here. But I can explain why this principle
|
| 12 |
+
makes sense. The most impressive thing humans can do is to think.
|
| 13 |
+
It may be the most impressive thing that can be done. And the best
|
| 14 |
+
kind of thinking, or more precisely the best proof that one has
|
| 15 |
+
thought well, is to make good new things.<br /><br />I mean new things in a very general sense. Newton's physics was a
|
| 16 |
+
good new thing. Indeed, the first version of this principle was to
|
| 17 |
+
have good new ideas. But that didn't seem general enough: it didn't
|
| 18 |
+
include making art or music, for example, except insofar as they
|
| 19 |
+
embody new ideas. And while they may embody new ideas, that's not
|
| 20 |
+
all they embody, unless you stretch the word "idea" so uselessly
|
| 21 |
+
thin that it includes everything that goes through your nervous
|
| 22 |
+
system.<br /><br />Even for ideas that one has consciously, though, I prefer the
|
| 23 |
+
phrasing "make good new things." There are other ways to describe
|
| 24 |
+
the best kind of thinking. To make discoveries, for example, or to
|
| 25 |
+
understand something more deeply than others have. But how well do
|
| 26 |
+
you understand something if you can't make a model of it, or write
|
| 27 |
+
about it? Indeed, trying to express what you understand is not just
|
| 28 |
+
a way to prove that you understand it, but a way to understand it
|
| 29 |
+
better.<br /><br />Another reason I like this phrasing is that it biases us toward
|
| 30 |
+
creation. It causes us to prefer the kind of ideas that are naturally
|
| 31 |
+
seen as making things rather than, say, making critical observations
|
| 32 |
+
about things other people have made. Those are ideas too, and
|
| 33 |
+
sometimes valuable ones, but it's easy to trick oneself into believing
|
| 34 |
+
they're more valuable than they are. Criticism seems sophisticated,
|
| 35 |
+
and making new things often seems awkward, especially at first; and
|
| 36 |
+
yet it's precisely those first steps that are most rare and valuable.<br /><br />Is newness essential? I think so. Obviously it's essential in
|
| 37 |
+
science. If you copied a paper of someone else's and published it
|
| 38 |
+
as your own, it would seem not merely unimpressive but dishonest.
|
| 39 |
+
And it's similar in the arts. A copy of a good painting can be a
|
| 40 |
+
pleasing thing, but it's not impressive in the way the original
|
| 41 |
+
was. Which in turn implies it's not impressive to make the same
|
| 42 |
+
thing over and over, however well; you're just copying yourself.<br /><br />Note though that we're talking about a different kind of should
|
| 43 |
+
with this principle. Taking care of people and the world are shoulds
|
| 44 |
+
in the sense that they're one's duty, but making good new things
|
| 45 |
+
is a should in the sense that this is how to live to one's full
|
| 46 |
+
potential. Historically most rules about how to live have been a
|
| 47 |
+
mix of both kinds of should, though usually with more of the former
|
| 48 |
+
than the latter.
|
| 49 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />For most of history the question "What should one do?" got much the
|
| 50 |
+
same answer everywhere, whether you asked Cicero or Confucius. You
|
| 51 |
+
should be wise, brave, honest, temperate, and just, uphold tradition,
|
| 52 |
+
and serve the public interest. There was a long stretch where in
|
| 53 |
+
some parts of the world the answer became "Serve God," but in
|
| 54 |
+
practice it was still considered good to be wise, brave, honest,
|
| 55 |
+
temperate, and just, uphold tradition, and serve the public interest.
|
| 56 |
+
And indeed this recipe would have seemed right to most Victorians.
|
| 57 |
+
But there's nothing in it about taking care of the world or making
|
| 58 |
+
new things, and that's a bit worrying, because it seems like this
|
| 59 |
+
question should be a timeless one. The answer shouldn't change much.<br /><br />I'm not too worried that the traditional answers don't mention
|
| 60 |
+
taking care of the world. Obviously people only started to care
|
| 61 |
+
about that once it became clear we could ruin it. But how can making
|
| 62 |
+
good new things be important if the traditional answers don't mention
|
| 63 |
+
it?<br /><br />The traditional answers were answers to a slightly different question.
|
| 64 |
+
They were answers to the question of how to be, rather than what
|
| 65 |
+
to do. The audience didn't have a lot of choice about what to do.
|
| 66 |
+
The audience up till recent centuries was the landowning class,
|
| 67 |
+
which was also the political class. They weren't choosing between
|
| 68 |
+
doing physics and writing novels. Their work was foreordained:
|
| 69 |
+
manage their estates, participate in politics, fight when necessary.
|
| 70 |
+
It was ok to do certain other kinds of work in one's spare time,
|
| 71 |
+
but ideally one didn't have any. Cicero's <i>De Officiis</i> is one of the
|
| 72 |
+
great classical answers to the question of how to live, and in it
|
| 73 |
+
he explicitly says that he wouldn't even be writing it if he hadn't
|
| 74 |
+
been excluded from public life by recent political upheavals.
|
| 75 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />There were of course people doing what we would now call "original
|
| 76 |
+
work," and they were often admired for it, but they weren't seen
|
| 77 |
+
as models. Archimedes knew that he was the first to prove that a
|
| 78 |
+
sphere has 2/3 the volume of the smallest enclosing cylinder and
|
| 79 |
+
was very pleased about it. But you don't find ancient writers urging
|
| 80 |
+
their readers to emulate him. They regarded him more as a prodigy
|
| 81 |
+
than a model.<br /><br />Now many more of us can follow Archimedes's example and devote most
|
| 82 |
+
of our attention to one kind of work. He turned out to be a model
|
| 83 |
+
after all, along with a collection of other people that his
|
| 84 |
+
contemporaries would have found it strange to treat as a distinct
|
| 85 |
+
group, because the vein of people making new things ran at right
|
| 86 |
+
angles to the social hierarchy.<br /><br />What kinds of new things count? I'd rather leave that question to
|
| 87 |
+
the makers of them. It would be a risky business to try to define
|
| 88 |
+
any kind of threshold, because new kinds of work are often despised
|
| 89 |
+
at first. Raymond Chandler was writing literal pulp fiction, and
|
| 90 |
+
he's now recognized as one of the best writers of the twentieth
|
| 91 |
+
century. Indeed this pattern is so common that you can use it as a
|
| 92 |
+
recipe: if you're excited about some kind of work that's not
|
| 93 |
+
considered prestigious and you can explain what everyone else is
|
| 94 |
+
overlooking about it, then this is not merely a kind of work that's
|
| 95 |
+
ok to do, but one to seek out.<br /><br />The other reason I wouldn't want to define any thresholds is that
|
| 96 |
+
we don't need them. The kind of people who make good new things
|
| 97 |
+
don't need rules to keep them honest.<br /><br />So there's my guess at a set of principles to live by: take care
|
| 98 |
+
of people and the world, and make good new things. Different people
|
| 99 |
+
will do these to varying degrees. There will presumably be lots who
|
| 100 |
+
focus entirely on taking care of people. There will be a few who
|
| 101 |
+
focus mostly on making new things. But even if you're one of those,
|
| 102 |
+
you should at least make sure that the new things you make don't
|
| 103 |
+
net <i>harm</i> people or the world. And if you go a step further and
|
| 104 |
+
try to make things that help them, you may find you're ahead on the
|
| 105 |
+
trade. You'll be more constrained in what you can make, but you'll
|
| 106 |
+
make it with more energy.<br /><br />On the other hand, if you make something amazing, you'll often be
|
| 107 |
+
helping people or the world even if you didn't mean to. Newton was
|
| 108 |
+
driven by curiosity and ambition, not by any practical effect his
|
| 109 |
+
work might have, and yet the practical effect of his work has been
|
| 110 |
+
enormous. And this seems the rule rather than the exception. So
|
| 111 |
+
if you think you can make something amazing, you should probably
|
| 112 |
+
just go ahead and do it.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 113 |
+
We could treat all three as the same kind of should by saying
|
| 114 |
+
that it's one's duty to live well — for example by saying, as some
|
| 115 |
+
Christians have, that it's one's duty to make the most of one's
|
| 116 |
+
God-given gifts. But this seems one of those casuistries people
|
| 117 |
+
invented to evade the stern requirements of religion: it was permissible to
|
| 118 |
+
spend time studying math instead of praying or performing acts of
|
| 119 |
+
charity because otherwise you were rejecting a gift God had given
|
| 120 |
+
you. A useful casuistry no doubt, but we don't need it.<br /><br />We could also combine the first two principles, since people are
|
| 121 |
+
part of the world. Why should our species get special treatment?
|
| 122 |
+
I won't try to justify this choice, but I'm skeptical that anyone
|
| 123 |
+
who claims to think differently actually lives according to their
|
| 124 |
+
principles.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 125 |
+
Confucius was also excluded from public life after ending up
|
| 126 |
+
on the losing end of a power struggle, and presumably he too would
|
| 127 |
+
not be so famous now if it hadn't been for this long stretch of
|
| 128 |
+
enforced leisure.<br /><br /><br /><br /><font color="888888"><b>Thanks</b> to Trevor Blackwell, Jessica
|
| 129 |
+
Livingston, and Robert Morris for reading drafts of this.</font><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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| 139 |
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<script type="text/javascript">
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// Begin Store Generated Code
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<script type="text/javascript">
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</script>
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<script type="text/javascript">
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// Begin Store Generated Code
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|
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</script>
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</html>
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/donate.html
ADDED
|
@@ -0,0 +1,94 @@
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|
| 1 |
+
<html><head><title>Donate Unrestricted</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebcd1><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebcd1 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/donate-unrestricted-4.gif" width="170" height="18" border="0" hspace="0" vspace="0" alt="Donate Unrestricted" /><br /><br /><font size="2" face="verdana">March 2021<br /><br />The secret curse of the nonprofit world is restricted donations.
|
| 4 |
+
If you haven't been involved with nonprofits, you may never have
|
| 5 |
+
heard this phrase before. But if you have been, it probably made
|
| 6 |
+
you wince.<br /><br />Restricted donations mean donations where the donor limits what can
|
| 7 |
+
be done with the money. This is common with big donations, perhaps
|
| 8 |
+
the default. And yet it's usually a bad idea. Usually the way the
|
| 9 |
+
donor wants the money spent is not the way the nonprofit would have
|
| 10 |
+
chosen. Otherwise there would have been no need to restrict the
|
| 11 |
+
donation. But who has a better understanding of where money needs
|
| 12 |
+
to be spent, the nonprofit or the donor?<br /><br />If a nonprofit doesn't understand better than its donors where money
|
| 13 |
+
needs to be spent, then it's incompetent and you shouldn't be
|
| 14 |
+
donating to it at all.<br /><br />Which means a restricted donation is inherently suboptimal. It's
|
| 15 |
+
either a donation to a bad nonprofit, or a donation for the wrong
|
| 16 |
+
things.<br /><br />There are a couple exceptions to this principle. One is when the
|
| 17 |
+
nonprofit is an umbrella organization. It's reasonable to make a
|
| 18 |
+
restricted donation to a university, for example, because a university
|
| 19 |
+
is only nominally a single nonprofit. Another exception is when the
|
| 20 |
+
donor actually does know as much as the nonprofit about where money
|
| 21 |
+
needs to be spent. The Gates Foundation, for example, has specific
|
| 22 |
+
goals and often makes restricted donations to individual nonprofits
|
| 23 |
+
to accomplish them. But unless you're a domain expert yourself or
|
| 24 |
+
donating to an umbrella organization, your donation would do more
|
| 25 |
+
good if it were unrestricted.<br /><br />If restricted donations do less good than unrestricted ones, why
|
| 26 |
+
do donors so often make them? Partly because doing good isn't donors'
|
| 27 |
+
only motive. They often have other motives as well — to make a mark,
|
| 28 |
+
or to generate good publicity
|
| 29 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font>,
|
| 30 |
+
or to comply with regulations
|
| 31 |
+
or corporate policies. Many donors may simply never have considered
|
| 32 |
+
the distinction between restricted and unrestricted donations. They
|
| 33 |
+
may believe that donating money for some specific purpose is just
|
| 34 |
+
how donation works. And to be fair, nonprofits don't try very hard
|
| 35 |
+
to discourage such illusions. They can't afford to. People running
|
| 36 |
+
nonprofits are almost always anxious about money. They can't afford
|
| 37 |
+
to talk back to big donors.<br /><br />You can't expect candor in a relationship so asymmetric. So I'll
|
| 38 |
+
tell you what nonprofits wish they could tell you. If you want to
|
| 39 |
+
donate to a nonprofit, donate unrestricted. If you trust them to
|
| 40 |
+
spend your money, trust them to decide how.<br /><br /><br /><br /><br /><br />
|
| 41 |
+
<b>Note</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 42 |
+
Unfortunately restricted donations tend to generate more
|
| 43 |
+
publicity than unrestricted ones. "X donates money to build a school
|
| 44 |
+
in Africa" is not only more interesting than "X donates money to Y
|
| 45 |
+
nonprofit to spend as Y chooses," but also focuses more attention
|
| 46 |
+
on X.<br /><br />
|
| 47 |
+
<b>Thanks</b> to Chase Adam, Ingrid Bassett, Trevor Blackwell, and Edith
|
| 48 |
+
Elliot for reading drafts of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 49 |
+
<script type="text/javascript">
|
| 50 |
+
csell_env = 'ue1';
|
| 51 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 52 |
+
</script>
|
| 53 |
+
|
| 54 |
+
<script type="text/javascript">
|
| 55 |
+
function toOSTN(node){
|
| 56 |
+
if(node.hasAttributes()){
|
| 57 |
+
for (const attr of node.attributes) {
|
| 58 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 59 |
+
}
|
| 60 |
+
}
|
| 61 |
+
};
|
| 62 |
+
document.addEventListener('readystatechange', event => {
|
| 63 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 64 |
+
if (event.target.readyState === "interactive") {
|
| 65 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 66 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 67 |
+
toOSTN(fromOSYN[i]);
|
| 68 |
+
}
|
| 69 |
+
}
|
| 70 |
+
}
|
| 71 |
+
});
|
| 72 |
+
</script>
|
| 73 |
+
<script type="text/javascript">
|
| 74 |
+
// Begin Store Generated Code
|
| 75 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 76 |
+
</script>
|
| 77 |
+
<script type="text/javascript">
|
| 78 |
+
// Begin Store Generated Code
|
| 79 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 80 |
+
</script>
|
| 81 |
+
<script type="text/javascript">
|
| 82 |
+
// Begin Store Generated Code
|
| 83 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'donate'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 84 |
+
</script>
|
| 85 |
+
<script type="text/javascript">
|
| 86 |
+
// Begin Store Generated Code
|
| 87 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 88 |
+
</script>
|
| 89 |
+
<script type="text/javascript">
|
| 90 |
+
// Begin Store Generated Code
|
| 91 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=donate&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 92 |
+
</script>
|
| 93 |
+
</html>
|
| 94 |
+
<!-- html104.prod.store.e1a.lumsb.com Sun Aug 24 02:50:39 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/ds.html
ADDED
|
@@ -0,0 +1,428 @@
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<html><head><title>Do Things that Don't Scale</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
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<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
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</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/bel-6.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=cd976720bf1055><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/bel-7.gif" width="69" height="357" usemap=#cd976720bf1055 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/bel-8.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/do-things-that-don-t-scale-3.gif" width="217" height="18" border="0" hspace="0" vspace="0" alt="Do Things that Don't Scale" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
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<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
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height=15 width=1><font size=2>
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<b>Want to start a startup?</b> Get funded by
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| 7 |
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<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
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</font>
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<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
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></tr>
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</table>
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<p>
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| 13 |
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July 2013<br /><br />One of the most common types of advice we give at Y Combinator is
|
| 14 |
+
to do things that don't scale. A lot of would-be founders believe
|
| 15 |
+
that startups either take off or don't. You build something, make
|
| 16 |
+
it available, and if you've made a better mousetrap, people beat a
|
| 17 |
+
path to your door as promised. Or they don't, in which case the
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| 18 |
+
market must not exist.
|
| 19 |
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<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />Actually startups take off because the founders make them take off.
|
| 20 |
+
There may be a handful that just grew by themselves, but usually
|
| 21 |
+
it takes some sort of push to get them going. A good metaphor would
|
| 22 |
+
be the cranks that car engines had before they got electric starters.
|
| 23 |
+
Once the engine was going, it would keep going, but there was a
|
| 24 |
+
separate and laborious process to get it going.<br /><br /><b>Recruit</b><br /><br />The most common unscalable thing founders have to do at the start
|
| 25 |
+
is to recruit users manually. Nearly all startups have to. You
|
| 26 |
+
can't wait for users to come to you. You have to go out and get
|
| 27 |
+
them.<br /><br />Stripe is one of the most successful startups we've funded, and the
|
| 28 |
+
problem they solved was an urgent one. If anyone could have sat
|
| 29 |
+
back and waited for users, it was Stripe. But in fact they're
|
| 30 |
+
famous within YC for aggressive early user acquisition.<br /><br />Startups building things for other startups have a big pool of
|
| 31 |
+
potential users in the other companies we've funded, and none took
|
| 32 |
+
better advantage of it than Stripe. At YC we use the term "Collison
|
| 33 |
+
installation" for the technique they invented. More diffident
|
| 34 |
+
founders ask "Will you try our beta?" and if the answer is yes,
|
| 35 |
+
they say "Great, we'll send you a link." But the Collison brothers
|
| 36 |
+
weren't going to wait. When anyone agreed to try Stripe they'd say
|
| 37 |
+
"Right then, give me your laptop" and set them up on the spot.<br /><br />There are two reasons founders resist going out and recruiting users
|
| 38 |
+
individually. One is a combination of shyness and laziness. They'd
|
| 39 |
+
rather sit at home writing code than go out and talk to a bunch of
|
| 40 |
+
strangers and probably be rejected by most of them. But for a
|
| 41 |
+
startup to succeed, at least one founder (usually the CEO) will
|
| 42 |
+
have to spend a lot of time on sales and marketing.
|
| 43 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br />The other reason founders ignore this path is that the absolute
|
| 44 |
+
numbers seem so small at first. This can't be how the big, famous
|
| 45 |
+
startups got started, they think. The mistake they make is to
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| 46 |
+
underestimate the power of compound growth. We encourage every
|
| 47 |
+
startup to measure their progress by weekly <a href="growth.html">growth
|
| 48 |
+
rate</a>. If you have 100 users, you need to get 10 more next week
|
| 49 |
+
to grow 10% a week. And while 110 may not seem much better than
|
| 50 |
+
100, if you keep growing at 10% a week you'll be surprised how big
|
| 51 |
+
the numbers get. After a year you'll have 14,000 users, and after
|
| 52 |
+
2 years you'll have 2 million.<br /><br />You'll be doing different things when you're acquiring users a
|
| 53 |
+
thousand at a time, and growth has to slow down eventually. But
|
| 54 |
+
if the market exists you can usually start by recruiting users
|
| 55 |
+
manually and then gradually switch to less manual methods.
|
| 56 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font><br /><br />Airbnb is a classic example of this technique. Marketplaces are
|
| 57 |
+
so hard to get rolling that you should expect to take heroic measures
|
| 58 |
+
at first. In Airbnb's case, these consisted of going door to door
|
| 59 |
+
in New York, recruiting new users and helping existing ones improve
|
| 60 |
+
their listings. When I remember the Airbnbs during YC, I picture
|
| 61 |
+
them with rolly bags, because when they showed up for tuesday dinners
|
| 62 |
+
they'd always just flown back from somewhere.<br /><br /><b>Fragile</b><br /><br />Airbnb now seems like an unstoppable juggernaut, but early on it
|
| 63 |
+
was so fragile that about 30 days of going out and engaging in
|
| 64 |
+
person with users made the difference between success and failure.<br /><br />That initial fragility was not a unique feature of Airbnb. Almost
|
| 65 |
+
all startups are fragile initially. And that's one of the biggest
|
| 66 |
+
things inexperienced founders and investors (and reporters and
|
| 67 |
+
know-it-alls on forums) get wrong about them. They unconsciously
|
| 68 |
+
judge larval startups by the standards of established ones. They're
|
| 69 |
+
like someone looking at a newborn baby and concluding "there's no
|
| 70 |
+
way this tiny creature could ever accomplish anything."<br /><br />It's harmless if reporters and know-it-alls dismiss your startup.
|
| 71 |
+
They always get things wrong. It's even ok if investors dismiss
|
| 72 |
+
your startup; they'll change their minds when they see growth. The
|
| 73 |
+
big danger is that you'll dismiss your startup yourself. I've seen
|
| 74 |
+
it happen. I often have to encourage founders who don't see the
|
| 75 |
+
full potential of what they're building. Even Bill Gates made that
|
| 76 |
+
mistake. He returned to Harvard for the fall semester after starting
|
| 77 |
+
Microsoft. He didn't stay long, but he wouldn't have returned at
|
| 78 |
+
all if he'd realized Microsoft was going to be even a fraction of
|
| 79 |
+
the size it turned out to be.
|
| 80 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font><br /><br />The question to ask about an early stage startup is not "is this
|
| 81 |
+
company taking over the world?" but "how big could this company
|
| 82 |
+
get if the founders did the right things?" And the right things
|
| 83 |
+
often seem both laborious and inconsequential at the time. Microsoft
|
| 84 |
+
can't have seemed very impressive when it was just a couple guys
|
| 85 |
+
in Albuquerque writing Basic interpreters for a market of a few
|
| 86 |
+
thousand hobbyists (as they were then called), but in retrospect
|
| 87 |
+
that was the optimal path to dominating microcomputer software.
|
| 88 |
+
And I know Brian Chesky and Joe Gebbia didn't feel like they were
|
| 89 |
+
en route to the big time as they were taking "professional" photos
|
| 90 |
+
of their first hosts' apartments. They were just trying to survive.
|
| 91 |
+
But in retrospect that too was the optimal path to dominating a big
|
| 92 |
+
market.<br /><br />How do you find users to recruit manually? If you build something
|
| 93 |
+
to solve <a href="startupideas.html">your own problems</a>, then
|
| 94 |
+
you only have to find your peers, which is usually straightforward.
|
| 95 |
+
Otherwise you'll have to make a more deliberate effort to locate
|
| 96 |
+
the most promising vein of users. The usual way to do that is to
|
| 97 |
+
get some initial set of users by doing a comparatively untargeted
|
| 98 |
+
launch, and then to observe which kind seem most enthusiastic, and
|
| 99 |
+
seek out more like them. For example, Ben Silbermann noticed that
|
| 100 |
+
a lot of the earliest Pinterest users were interested in design,
|
| 101 |
+
so he went to a conference of design bloggers to recruit users, and
|
| 102 |
+
that worked well.
|
| 103 |
+
<font color=#999999>[<a href="#f5n"><font color=#999999>5</font></a>]</font><br /><br /><b>Delight</b><br /><br />You should take extraordinary measures not just to acquire users,
|
| 104 |
+
but also to make them happy. For as long as they could (which
|
| 105 |
+
turned out to be surprisingly long), Wufoo sent each new user a
|
| 106 |
+
hand-written thank you note. Your first users should feel that
|
| 107 |
+
signing up with you was one of the best choices they ever made.
|
| 108 |
+
And you in turn should be racking your brains to think of new ways
|
| 109 |
+
to delight them.<br /><br />Why do we have to teach startups this? Why is it counterintuitive
|
| 110 |
+
for founders? Three reasons, I think.<br /><br />One is that a lot of startup founders are trained as engineers,
|
| 111 |
+
and customer service is not part of the training of engineers.
|
| 112 |
+
You're supposed to build things that are robust and elegant, not
|
| 113 |
+
be slavishly attentive to individual users like some kind of
|
| 114 |
+
salesperson. Ironically, part of the reason engineering is
|
| 115 |
+
traditionally averse to handholding is that its traditions date
|
| 116 |
+
from a time when engineers were less powerful — when they were
|
| 117 |
+
only in charge of their narrow domain of building things, rather
|
| 118 |
+
than running the whole show. You can be ornery when you're Scotty,
|
| 119 |
+
but not when you're Kirk.<br /><br />Another reason founders don't focus enough on individual customers
|
| 120 |
+
is that they worry it won't scale. But when founders of larval
|
| 121 |
+
startups worry about this, I point out that in their current state
|
| 122 |
+
they have nothing to lose. Maybe if they go out of their way to
|
| 123 |
+
make existing users super happy, they'll one day have too many to
|
| 124 |
+
do so much for. That would be a great problem to have. See if you
|
| 125 |
+
can make it happen. And incidentally, when it does, you'll find
|
| 126 |
+
that delighting customers scales better than you expected. Partly
|
| 127 |
+
because you can usually find ways to make anything scale more than
|
| 128 |
+
you would have predicted, and partly because delighting customers
|
| 129 |
+
will by then have permeated your culture.<br /><br />I have never once seen a startup lured down a blind alley by trying
|
| 130 |
+
too hard to make their initial users happy.<br /><br />But perhaps the biggest thing preventing founders from realizing
|
| 131 |
+
how attentive they could be to their users is that they've never
|
| 132 |
+
experienced such attention themselves. Their standards for customer
|
| 133 |
+
service have been set by the companies they've been customers of,
|
| 134 |
+
which are mostly big ones. Tim Cook doesn't send you a hand-written
|
| 135 |
+
note after you buy a laptop. He can't. But you can. That's one
|
| 136 |
+
advantage of being small: you can provide a level of service no big
|
| 137 |
+
company can.
|
| 138 |
+
<font color=#999999>[<a href="#f6n"><font color=#999999>6</font></a>]</font><br /><br />Once you realize that existing conventions are not the upper bound
|
| 139 |
+
on user experience, it's interesting in a very pleasant way to think
|
| 140 |
+
about how far you could go to delight your users.<br /><br /><b>Experience</b><br /><br />I was trying to think of a phrase to convey how extreme your attention
|
| 141 |
+
to users should be, and I realized Steve Jobs had already done it:
|
| 142 |
+
insanely great. Steve wasn't just using "insanely" as a synonym
|
| 143 |
+
for "very." He meant it more literally — that one should focus
|
| 144 |
+
on quality of execution to a degree that in everyday life would be
|
| 145 |
+
considered pathological.<br /><br />All the most successful startups we've funded have, and that probably
|
| 146 |
+
doesn't surprise would-be founders. What novice founders don't get
|
| 147 |
+
is what insanely great translates to in a larval startup. When
|
| 148 |
+
Steve Jobs started using that phrase, Apple was already an established
|
| 149 |
+
company. He meant the Mac (and its documentation and even
|
| 150 |
+
packaging — such is the nature of obsession) should be insanely
|
| 151 |
+
well designed and manufactured. That's not hard for engineers to
|
| 152 |
+
grasp. It's just a more extreme version of designing a robust and
|
| 153 |
+
elegant product.<br /><br />What founders have a hard time grasping (and Steve himself might
|
| 154 |
+
have had a hard time grasping) is what insanely great morphs into
|
| 155 |
+
as you roll the time slider back to the first couple months of a
|
| 156 |
+
startup's life. It's not the product that should be insanely great,
|
| 157 |
+
but the experience of being your user. The product is just one
|
| 158 |
+
component of that. For a big company it's necessarily the dominant
|
| 159 |
+
one. But you can and should give users an insanely great experience
|
| 160 |
+
with an early, incomplete, buggy product, if you make up the
|
| 161 |
+
difference with attentiveness.<br /><br />Can, perhaps, but should? Yes. Over-engaging with early users is
|
| 162 |
+
not just a permissible technique for getting growth rolling. For
|
| 163 |
+
most successful startups it's a necessary part of the feedback loop
|
| 164 |
+
that makes the product good. Making a better mousetrap is not an
|
| 165 |
+
atomic operation. Even if you start the way most successful startups
|
| 166 |
+
have, by building something you yourself need, the first thing you
|
| 167 |
+
build is never quite right. And except in domains with big penalties
|
| 168 |
+
for making mistakes, it's often better not to aim for perfection
|
| 169 |
+
initially. In software, especially, it usually works best to get
|
| 170 |
+
something in front of users as soon as it has a quantum of utility,
|
| 171 |
+
and then see what they do with it. Perfectionism is often an excuse
|
| 172 |
+
for procrastination, and in any case your initial model of users
|
| 173 |
+
is always inaccurate, even if you're one of them.
|
| 174 |
+
<font color=#999999>[<a href="#f7n"><font color=#999999>7</font></a>]</font><br /><br />The feedback you get from engaging directly with your earliest users
|
| 175 |
+
will be the best you ever get. When you're so big you have to
|
| 176 |
+
resort to focus groups, you'll wish you could go over to your users'
|
| 177 |
+
homes and offices and watch them use your stuff like you did when
|
| 178 |
+
there were only a handful of them.<br /><br /><b>Fire</b><br /><br />Sometimes the right unscalable trick is to focus on a deliberately
|
| 179 |
+
narrow market. It's like keeping a fire contained at first to get
|
| 180 |
+
it really hot before adding more logs.<br /><br />That's what Facebook did. At first it was just for Harvard students.
|
| 181 |
+
In that form it only had a potential market of a few thousand people,
|
| 182 |
+
but because they felt it was really for them, a critical mass of
|
| 183 |
+
them signed up. After Facebook stopped being for Harvard students,
|
| 184 |
+
it remained for students at specific colleges for quite a while.
|
| 185 |
+
When I interviewed Mark Zuckerberg at Startup School, he said that
|
| 186 |
+
while it was a lot of work creating course lists for each school,
|
| 187 |
+
doing that made students feel the site was their natural home.<br /><br />Any startup that could be described as a marketplace usually has
|
| 188 |
+
to start in a subset of the market, but this can work for other
|
| 189 |
+
startups as well. It's always worth asking if there's a subset of
|
| 190 |
+
the market in which you can get a critical mass of users quickly.
|
| 191 |
+
<font color=#999999>[<a href="#f8n"><font color=#999999>8</font></a>]</font><br /><br />Most startups that use the contained fire strategy do it unconsciously.
|
| 192 |
+
They build something for themselves and their friends, who happen
|
| 193 |
+
to be the early adopters, and only realize later that they could
|
| 194 |
+
offer it to a broader market. The strategy works just as well if
|
| 195 |
+
you do it unconsciously. The biggest danger of not being consciously
|
| 196 |
+
aware of this pattern is for those who naively discard part of it.
|
| 197 |
+
E.g. if you don't build something for yourself and your friends,
|
| 198 |
+
or even if you do, but you come from the corporate world and your
|
| 199 |
+
friends are not early adopters, you'll no longer have a perfect
|
| 200 |
+
initial market handed to you on a platter.<br /><br />Among companies, the best early adopters are usually other startups.
|
| 201 |
+
They're more open to new things both by nature and because, having
|
| 202 |
+
just been started, they haven't made all their choices yet. Plus
|
| 203 |
+
when they succeed they grow fast, and you with them. It was one
|
| 204 |
+
of many unforeseen advantages of the YC model (and specifically of
|
| 205 |
+
making YC big) that B2B startups now have an instant market of
|
| 206 |
+
hundreds of other startups ready at hand.<br /><br /><b>Meraki</b><br /><br />For <a href="hw.html">hardware startups</a> there's a variant of
|
| 207 |
+
doing things that don't scale that we call "pulling a Meraki."
|
| 208 |
+
Although we didn't fund Meraki, the founders were Robert Morris's
|
| 209 |
+
grad students, so we know their history. They got started by doing
|
| 210 |
+
something that really doesn't scale: assembling their routers
|
| 211 |
+
themselves.<br /><br />Hardware startups face an obstacle that software startups don't.
|
| 212 |
+
The minimum order for a factory production run is usually several
|
| 213 |
+
hundred thousand dollars. Which can put you in a catch-22: without
|
| 214 |
+
a product you can't generate the growth you need to raise the money
|
| 215 |
+
to manufacture your product. Back when hardware startups had to
|
| 216 |
+
rely on investors for money, you had to be pretty convincing to
|
| 217 |
+
overcome this. The arrival of crowdfunding (or more precisely,
|
| 218 |
+
preorders) has helped a lot. But even so I'd advise startups to
|
| 219 |
+
pull a Meraki initially if they can. That's what Pebble did. The
|
| 220 |
+
Pebbles
|
| 221 |
+
<a href="https://sep.turbifycdn.com/ty/cdn/paulgraham/eric.jpg?t=1730199416&">assembled</a>
|
| 222 |
+
the first several hundred watches themselves. If
|
| 223 |
+
they hadn't gone through that phase, they probably wouldn't have
|
| 224 |
+
sold $10 million worth of watches when they did go on Kickstarter.<br /><br />Like paying excessive attention to early customers, fabricating
|
| 225 |
+
things yourself turns out to be valuable for hardware startups.
|
| 226 |
+
You can tweak the design faster when you're the factory, and you
|
| 227 |
+
learn things you'd never have known otherwise. Eric Migicovsky of
|
| 228 |
+
Pebble said one of the things he learned was "how valuable it was to
|
| 229 |
+
source good screws." Who knew?<br /><br /><b>Consult</b><br /><br />Sometimes we advise founders of B2B startups to take over-engagement
|
| 230 |
+
to an extreme, and to pick a single user and act as if they were
|
| 231 |
+
consultants building something just for that one user. The initial
|
| 232 |
+
user serves as the form for your mold; keep tweaking till you fit
|
| 233 |
+
their needs perfectly, and you'll usually find you've made something
|
| 234 |
+
other users want too. Even if there aren't many of them, there are
|
| 235 |
+
probably adjacent territories that have more. As long as you can
|
| 236 |
+
find just one user who really needs something and can act on that
|
| 237 |
+
need, you've got a toehold in making something people want, and
|
| 238 |
+
that's as much as any startup needs initially.
|
| 239 |
+
<font color=#999999>[<a href="#f9n"><font color=#999999>9</font></a>]</font><br /><br />Consulting is the canonical example of work that doesn't scale.
|
| 240 |
+
But (like other ways of bestowing one's favors liberally) it's safe
|
| 241 |
+
to do it so long as you're not being paid to. That's where companies
|
| 242 |
+
cross the line. So long as you're a product company that's merely
|
| 243 |
+
being extra attentive to a customer, they're very grateful even if
|
| 244 |
+
you don't solve all their problems. But when they start paying you
|
| 245 |
+
specifically for that attentiveness — when they start paying
|
| 246 |
+
you by the hour — they expect you to do everything.<br /><br />Another consulting-like technique for recruiting initially lukewarm
|
| 247 |
+
users is to use your software yourselves on their behalf. We
|
| 248 |
+
did that at Viaweb. When we approached merchants asking if they
|
| 249 |
+
wanted to use our software to make online stores, some said no, but
|
| 250 |
+
they'd let us make one for them. Since we would do anything to get
|
| 251 |
+
users, we did. We felt pretty lame at the time. Instead of
|
| 252 |
+
organizing big strategic e-commerce partnerships, we were trying
|
| 253 |
+
to sell luggage and pens and men's shirts. But in retrospect it
|
| 254 |
+
was exactly the right thing to do, because it taught us how it would
|
| 255 |
+
feel to merchants to use our software. Sometimes the feedback loop
|
| 256 |
+
was near instantaneous: in the middle of building some merchant's
|
| 257 |
+
site I'd find I needed a feature we didn't have, so I'd spend a
|
| 258 |
+
couple hours implementing it and then resume building the site.<br /><br /><b>Manual</b><br /><br />There's a more extreme variant where you don't just use your software,
|
| 259 |
+
but are your software. When you only have a small number of users,
|
| 260 |
+
you can sometimes get away with doing by hand things that you plan
|
| 261 |
+
to automate later. This lets you launch faster, and when you do
|
| 262 |
+
finally automate yourself out of the loop, you'll know exactly what
|
| 263 |
+
to build because you'll have muscle memory from doing it yourself.<br /><br />When manual components look to the user like software, this technique
|
| 264 |
+
starts to have aspects of a practical joke. For example, the way
|
| 265 |
+
Stripe delivered "instant" merchant accounts to its first users was
|
| 266 |
+
that the founders manually signed them up for traditional merchant
|
| 267 |
+
accounts behind the scenes.<br /><br />Some startups could be entirely manual at first. If you can find
|
| 268 |
+
someone with a problem that needs solving and you can solve it
|
| 269 |
+
manually, go ahead and do that for as long as you can, and then
|
| 270 |
+
gradually automate the bottlenecks. It would be a little frightening
|
| 271 |
+
to be solving users' problems in a way that wasn't yet automatic,
|
| 272 |
+
but less frightening than the far more common case of having something
|
| 273 |
+
automatic that doesn't yet solve anyone's problems.<br /><br /><b>Big</b><br /><br />I should mention one sort of initial tactic that usually doesn't
|
| 274 |
+
work: the Big Launch. I occasionally meet founders who seem to
|
| 275 |
+
believe startups are projectiles rather than powered aircraft, and
|
| 276 |
+
that they'll make it big if and only if they're launched with
|
| 277 |
+
sufficient initial velocity. They want to launch simultaneously
|
| 278 |
+
in 8 different publications, with embargoes. And on a tuesday, of
|
| 279 |
+
course, since they read somewhere that's the optimum day to launch
|
| 280 |
+
something.<br /><br />It's easy to see how little launches matter. Think of some successful
|
| 281 |
+
startups. How many of their launches do you remember?
|
| 282 |
+
All you need from a launch is some initial core of users. How well
|
| 283 |
+
you're doing a few months later will depend more on how happy you
|
| 284 |
+
made those users than how many there were of them.
|
| 285 |
+
<font color=#999999>[<a href="#f10n"><font color=#999999>10</font></a>]</font><br /><br />So why do founders think launches matter? A combination of solipsism
|
| 286 |
+
and laziness. They think what they're building is so great that
|
| 287 |
+
everyone who hears about it will immediately sign up. Plus it would
|
| 288 |
+
be so much less work if you could get users merely by broadcasting
|
| 289 |
+
your existence, rather than recruiting them one at a time. But
|
| 290 |
+
even if what you're building really is great, getting users will
|
| 291 |
+
always be a gradual process — partly because great things
|
| 292 |
+
are usually also novel, but mainly because users have other things
|
| 293 |
+
to think about.<br /><br />Partnerships too usually don't work. They don't work for startups
|
| 294 |
+
in general, but they especially don't work as a way to get growth
|
| 295 |
+
started. It's a common mistake among inexperienced founders to
|
| 296 |
+
believe that a partnership with a big company will be their big
|
| 297 |
+
break. Six months later they're all saying the same thing: that
|
| 298 |
+
was way more work than we expected, and we ended up getting practically
|
| 299 |
+
nothing out of it.
|
| 300 |
+
<font color=#999999>[<a href="#f11n"><font color=#999999>11</font></a>]</font><br /><br />It's not enough just to do something extraordinary initially. You
|
| 301 |
+
have to make an extraordinary <i>effort</i> initially. Any strategy
|
| 302 |
+
that omits the effort — whether it's expecting a big launch to
|
| 303 |
+
get you users, or a big partner — is ipso facto suspect.<br /><br /><b>Vector</b><br /><br />The need to do something unscalably laborious to get started is so
|
| 304 |
+
nearly universal that it might be a good idea to stop thinking of
|
| 305 |
+
startup ideas as scalars. Instead we should try thinking of them
|
| 306 |
+
as pairs of what you're going to build, plus the unscalable thing(s)
|
| 307 |
+
you're going to do initially to get the company going.<br /><br />It could be interesting to start viewing startup ideas this way,
|
| 308 |
+
because now that there are two components you can try to be imaginative
|
| 309 |
+
about the second as well as the first. But in most cases the second
|
| 310 |
+
component will be what it usually is — recruit users manually
|
| 311 |
+
and give them an overwhelmingly good experience — and the main
|
| 312 |
+
benefit of treating startups as vectors will be to remind founders
|
| 313 |
+
they need to work hard in two dimensions.
|
| 314 |
+
<font color=#999999>[<a href="#f12n"><font color=#999999>12</font></a>]</font><br /><br />In the best case, both components of the vector contribute to your
|
| 315 |
+
company's DNA: the unscalable things you have to do to get started
|
| 316 |
+
are not merely a necessary evil, but change the company permanently
|
| 317 |
+
for the better. If you have to be aggressive about user acquisition
|
| 318 |
+
when you're small, you'll probably still be aggressive when you're
|
| 319 |
+
big. If you have to manufacture your own hardware, or use your
|
| 320 |
+
software on users's behalf, you'll learn things you couldn't have
|
| 321 |
+
learned otherwise. And most importantly, if you have to work hard
|
| 322 |
+
to delight users when you only have a handful of them, you'll keep
|
| 323 |
+
doing it when you have a lot.<br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 324 |
+
Actually Emerson never mentioned mousetraps specifically. He
|
| 325 |
+
wrote "If a man has good corn or wood, or boards, or pigs, to sell,
|
| 326 |
+
or can make better chairs or knives, crucibles or church organs,
|
| 327 |
+
than anybody else, you will find a broad hard-beaten road to his
|
| 328 |
+
house, though it be in the woods."<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 329 |
+
Thanks to Sam Altman for suggesting I make this explicit.
|
| 330 |
+
And no, you can't avoid doing sales by hiring someone to do it for
|
| 331 |
+
you. You have to do sales yourself initially. Later you can hire
|
| 332 |
+
a real salesperson to replace you.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 333 |
+
The reason this works is that as you get bigger, your size
|
| 334 |
+
helps you grow. Patrick Collison wrote "At some point, there was
|
| 335 |
+
a very noticeable change in how Stripe felt. It tipped from being
|
| 336 |
+
this boulder we had to push to being a train car that in fact had
|
| 337 |
+
its own momentum."<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 338 |
+
One of the more subtle ways in which YC can help founders
|
| 339 |
+
is by calibrating their ambitions, because we know exactly how a
|
| 340 |
+
lot of successful startups looked when they were just getting
|
| 341 |
+
started.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 342 |
+
If you're building something for which you can't easily get
|
| 343 |
+
a small set of users to observe — e.g. enterprise software — and
|
| 344 |
+
in a domain where you have no connections, you'll have to rely on
|
| 345 |
+
cold calls and introductions. But should you even be working on
|
| 346 |
+
such an idea?<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 347 |
+
Garry Tan pointed out an interesting trap founders fall into
|
| 348 |
+
in the beginning. They want so much to seem big that they imitate
|
| 349 |
+
even the flaws of big companies, like indifference to individual
|
| 350 |
+
users. This seems to them more "professional." Actually it's
|
| 351 |
+
better to embrace the fact that you're small and use whatever
|
| 352 |
+
advantages that brings.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 353 |
+
Your user model almost couldn't be perfectly accurate, because
|
| 354 |
+
users' needs often change in response to what you build for them.
|
| 355 |
+
Build them a microcomputer, and suddenly they need to run spreadsheets
|
| 356 |
+
on it, because the arrival of your new microcomputer causes someone
|
| 357 |
+
to invent the spreadsheet.<br /><br />[<a name="f8n"><font color=#000000>8</font></a>]
|
| 358 |
+
If you have to choose between the subset that will sign up
|
| 359 |
+
quickest and those that will pay the most, it's usually best to
|
| 360 |
+
pick the former, because those are probably the early adopters.
|
| 361 |
+
They'll have a better influence on your product, and they won't
|
| 362 |
+
make you expend as much effort on sales. And though they have less
|
| 363 |
+
money, you don't need that much to maintain your target growth rate
|
| 364 |
+
early on.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 365 |
+
Yes, I can imagine cases where you could end up making
|
| 366 |
+
something that was really only useful for one user. But those are
|
| 367 |
+
usually obvious, even to inexperienced founders. So if it's not
|
| 368 |
+
obvious you'd be making something for a market of one, don't worry
|
| 369 |
+
about that danger.<br /><br />[<a name="f10n"><font color=#000000>10</font></a>]
|
| 370 |
+
There may even be an inverse correlation between launch
|
| 371 |
+
magnitude and success. The only launches I remember are famous
|
| 372 |
+
flops like the Segway and Google Wave. Wave is a particularly
|
| 373 |
+
alarming example, because I think it was actually a great idea that
|
| 374 |
+
was killed partly by its overdone launch.<br /><br />[<a name="f11n"><font color=#000000>11</font></a>]
|
| 375 |
+
Google grew big on the back of Yahoo, but that wasn't a
|
| 376 |
+
partnership. Yahoo was their customer.<br /><br />[<a name="f12n"><font color=#000000>12</font></a>]
|
| 377 |
+
It will also remind founders that an idea where the second
|
| 378 |
+
component is empty — an idea where there is nothing you can do
|
| 379 |
+
to get going, e.g. because you have no way to find users to recruit
|
| 380 |
+
manually — is probably a bad idea, at least for those founders.<br /><br /><b>Thanks</b> to Sam Altman, Paul Buchheit, Patrick Collison, Kevin
|
| 381 |
+
Hale, Steven Levy, Jessica Livingston, Geoff Ralston, and Garry Tan for reading
|
| 382 |
+
drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/the-reddits-2.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://postd.cc/do-things-that-dont-scale/">Japanese Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/the-reddits-2.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://blog.perevedem.ru/2013/07/25/do-things-that-dont-scale/">Russian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/the-reddits-2.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://www.adsteroid.com/101">French Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/the-reddits-2.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://academy.hsoub.com/entrepreneurship/general/%D8%A7%D9%81%D8%B9%D9%84-%D8%A7%D9%84%D8%A3%D8%B4%D9%8A%D8%A7%D8%A1-%D8%A7%D9%84%D8%AA%D9%8A-%D9%84%D8%A7-%D9%8A%D9%8F%D9%85%D9%83%D9%86-%D8%A7%D9%84%D9%82%D9%8A%D8%A7%D9%85-%D8%A8%D9%87%D8%A7-%D8%B9%D9%84%D9%89-%D9%86%D8%B7%D8%A7%D9%82-%D9%88%D8%A7%D8%B3%D8%B9-do-things-that-dont-scale-r60/">Arabic Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/the-reddits-2.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://marcotrombetti.com/nonscalabili">Italian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/the-reddits-2.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://medium.com/delightroom/do-things-that-dont-scale-6876c5682a75">Korean Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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<script type="text/javascript">
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<script type="text/javascript">
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// Begin Store Generated Code
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// Begin Store Generated Code
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/early.html
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| 1 |
+
<html><head><title>Early Work</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebca7><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebca7 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/early-work-4.gif" width="94" height="18" border="0" hspace="0" vspace="0" alt="Early Work" /><br /><br /><font size="2" face="verdana">October 2020<br /><br />One of the biggest things holding people back from doing great work
|
| 4 |
+
is the fear of making something lame. And this fear is not an
|
| 5 |
+
irrational one. Many great projects go through a stage early on
|
| 6 |
+
where they don't seem very impressive, even to their creators. You
|
| 7 |
+
have to push through this stage to reach the great work that lies
|
| 8 |
+
beyond. But many people don't. Most people don't even reach the
|
| 9 |
+
stage of making something they're embarrassed by, let alone continue
|
| 10 |
+
past it. They're too frightened even to start.<br /><br />Imagine if we could turn off the fear of making something lame.
|
| 11 |
+
Imagine how much more we'd do.<br /><br />Is there any hope of turning it off? I think so. I think the habits
|
| 12 |
+
at work here are not very deeply rooted.<br /><br />Making new things is itself a new thing for us as a species. It has
|
| 13 |
+
always happened, but till the last few centuries it happened so
|
| 14 |
+
slowly as to be invisible to individual humans. And since we didn't
|
| 15 |
+
need customs for dealing with new ideas, we didn't develop any.<br /><br />We just don't have enough experience with early versions of ambitious
|
| 16 |
+
projects to know how to respond to them. We judge them as we would
|
| 17 |
+
judge more finished work, or less ambitious projects. We don't
|
| 18 |
+
realize they're a special case.<br /><br />Or at least, most of us don't. One reason I'm confident we can do
|
| 19 |
+
better is that it's already starting to happen. There are already
|
| 20 |
+
a few places that are living in the future in this respect. Silicon
|
| 21 |
+
Valley is one of them: an unknown person working on a strange-sounding
|
| 22 |
+
idea won't automatically be dismissed the way they would back home.
|
| 23 |
+
In Silicon Valley, people have learned how dangerous that is.<br /><br />The right way to deal with new ideas is to treat them as a challenge
|
| 24 |
+
to your imagination � not just to have lower standards, but to
|
| 25 |
+
<a href="altair.html"><u>switch polarity</u></a> entirely, from listing
|
| 26 |
+
the reasons an idea won't
|
| 27 |
+
work to trying to think of ways it could. That's what I do when I
|
| 28 |
+
meet people with new ideas. I've become quite good at it, but I've
|
| 29 |
+
had a lot of practice. Being a partner at Y Combinator means being
|
| 30 |
+
practically immersed in strange-sounding ideas proposed by unknown
|
| 31 |
+
people. Every six months you get thousands of new ones thrown at
|
| 32 |
+
you and have to sort through them, knowing that in a world with a
|
| 33 |
+
power-law distribution of outcomes, it will be painfully obvious
|
| 34 |
+
if you miss the needle in this haystack. Optimism becomes
|
| 35 |
+
urgent.<br /><br />But I'm hopeful that, with time, this kind of optimism can become
|
| 36 |
+
widespread enough that it becomes a social custom, not just a trick
|
| 37 |
+
used by a few specialists. It is after all an extremely lucrative
|
| 38 |
+
trick, and those tend to spread quickly.<br /><br />Of course, inexperience is not the only reason people are too harsh
|
| 39 |
+
on early versions of ambitious projects. They also do it to seem
|
| 40 |
+
clever. And in a field where the new ideas are risky, like startups,
|
| 41 |
+
those who dismiss them are in fact more likely to be right. Just
|
| 42 |
+
not when their predictions are
|
| 43 |
+
<a href="swan.html"><u>weighted by outcome</u></a>.<br /><br />But there is another more sinister reason people dismiss new ideas.
|
| 44 |
+
If you try something ambitious, many of those around you will hope,
|
| 45 |
+
consciously or unconsciously, that you'll fail. They worry that if
|
| 46 |
+
you try something ambitious and succeed, it will put you above them.
|
| 47 |
+
In some countries this is not just an individual failing but part
|
| 48 |
+
of the national culture.<br /><br />I wouldn't claim that people in Silicon Valley overcome these
|
| 49 |
+
impulses because they're morally better.
|
| 50 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font>
|
| 51 |
+
The reason many hope
|
| 52 |
+
you'll succeed is that they hope to rise with you. For investors
|
| 53 |
+
this incentive is particularly explicit. They want you to succeed
|
| 54 |
+
because they hope you'll make them rich in the process. But many
|
| 55 |
+
other people you meet can hope to benefit in some way from your
|
| 56 |
+
success. At the very least they'll be able to say, when you're
|
| 57 |
+
famous, that they've known you since way back.<br /><br />But even if Silicon Valley's encouraging attitude
|
| 58 |
+
is rooted in self-interest, it has over time actually grown into a
|
| 59 |
+
sort of benevolence. Encouraging startups has been practiced for
|
| 60 |
+
so long that it has become a custom. Now it just seems that that's
|
| 61 |
+
what one does with startups.<br /><br />Maybe Silicon Valley is too optimistic. Maybe it's too easily fooled
|
| 62 |
+
by impostors. Many less optimistic journalists want to believe that.
|
| 63 |
+
But the lists of impostors they cite are suspiciously short, and
|
| 64 |
+
plagued with asterisks.
|
| 65 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font> If you use revenue as the test, Silicon
|
| 66 |
+
Valley's optimism seems better tuned than the rest of the world's.
|
| 67 |
+
And because it works, it will spread.<br /><br />There's a lot more to new ideas than new startup ideas, of course.
|
| 68 |
+
The fear of making something lame holds people back in every field.
|
| 69 |
+
But Silicon Valley shows how quickly customs can evolve to support
|
| 70 |
+
new ideas. And that in turn proves that dismissing new ideas is not
|
| 71 |
+
so deeply rooted in human nature that it can't be unlearnt.<br /><br />
|
| 72 |
+
<center>___________</center><br /><br />
|
| 73 |
+
Unfortunately, if you want to do new things, you'll face a force
|
| 74 |
+
more powerful than other people's skepticism: your own skepticism.
|
| 75 |
+
You too will judge your early work too harshly. How do you avoid
|
| 76 |
+
that?<br /><br />This is a difficult problem, because you don't want to completely
|
| 77 |
+
eliminate your horror of making something lame. That's what steers
|
| 78 |
+
you toward doing good work. You just want to turn it off temporarily,
|
| 79 |
+
the way a painkiller temporarily turns off pain.<br /><br />People have already discovered several techniques that work. Hardy
|
| 80 |
+
mentions two in <i>A Mathematician's Apology</i>:
|
| 81 |
+
<blockquote>
|
| 82 |
+
Good work is not done by "humble" men. It is one of the first
|
| 83 |
+
duties of a professor, for example, in any subject, to exaggerate
|
| 84 |
+
a little both the importance of his subject and his importance
|
| 85 |
+
in it.
|
| 86 |
+
</blockquote>
|
| 87 |
+
If you overestimate the importance of what you're working on, that
|
| 88 |
+
will compensate for your mistakenly harsh judgment of your initial
|
| 89 |
+
results. If you look at something that's 20% of the way to a goal
|
| 90 |
+
worth 100 and conclude that it's 10% of the way to a goal worth
|
| 91 |
+
200, your estimate of its expected value is correct even though
|
| 92 |
+
both components are wrong.<br /><br />It also helps, as Hardy suggests, to be slightly overconfident.
|
| 93 |
+
I've noticed in many fields that the most successful people are
|
| 94 |
+
slightly overconfident. On the face of it this seems implausible.
|
| 95 |
+
Surely it would be optimal to have exactly the right estimate of
|
| 96 |
+
one's abilities. How could it be an advantage to be mistaken?
|
| 97 |
+
Because this error compensates for other sources of error in the
|
| 98 |
+
opposite direction: being slightly overconfident armors you against
|
| 99 |
+
both other people's skepticism and your own.<br /><br />Ignorance has a similar effect. It's safe to make the mistake of
|
| 100 |
+
judging early work as finished work if you're a sufficiently lax
|
| 101 |
+
judge of finished work. I doubt it's possible to cultivate this
|
| 102 |
+
kind of ignorance, but empirically it's a real advantage, especially
|
| 103 |
+
for the young.<br /><br />Another way to get through the lame phase of ambitious projects is
|
| 104 |
+
to surround yourself with the right people � to create an eddy in
|
| 105 |
+
the social headwind. But it's not enough to collect people who are
|
| 106 |
+
always encouraging. You'd learn to discount that. You need colleagues
|
| 107 |
+
who can actually tell an ugly duckling from a baby swan. The people
|
| 108 |
+
best able to do this are those working on similar projects of their
|
| 109 |
+
own, which is why university departments and research labs work so
|
| 110 |
+
well. You don't need institutions to collect colleagues. They
|
| 111 |
+
naturally coalesce, given the chance. But it's very much worth
|
| 112 |
+
accelerating this process by seeking out other people trying to do
|
| 113 |
+
new things.<br /><br />Teachers are in effect a special case of colleagues. It's a teacher's
|
| 114 |
+
job both to see the promise of early work and to encourage you to
|
| 115 |
+
continue. But teachers who are good at this are unfortunately quite
|
| 116 |
+
rare, so if you have the opportunity to learn from one, take it.
|
| 117 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font><br /><br />For some it might work to rely on sheer discipline: to tell yourself
|
| 118 |
+
that you just have to press on through the initial crap phase and
|
| 119 |
+
not get discouraged. But like a lot of "just tell yourself" advice,
|
| 120 |
+
this is harder than it sounds. And it gets still harder as you get
|
| 121 |
+
older, because your standards rise. The old do have one compensating
|
| 122 |
+
advantage though: they've been through this before.<br /><br />It can help if you focus less on where you are and more on the rate
|
| 123 |
+
of change. You won't worry so much about doing bad work if you can
|
| 124 |
+
see it improving. Obviously the faster it improves, the easier this
|
| 125 |
+
is. So when you start something new, it's good if you can spend a
|
| 126 |
+
lot of time on it. That's another advantage of being young: you
|
| 127 |
+
tend to have bigger blocks of time.<br /><br />Another common trick is to start by considering new work to be of
|
| 128 |
+
a different, less exacting type. To start a painting saying that
|
| 129 |
+
it's just a sketch, or a new piece of software saying that it's
|
| 130 |
+
just a quick hack. Then you judge your initial results by a lower
|
| 131 |
+
standard. Once the project is rolling you can sneakily convert it
|
| 132 |
+
to something more.
|
| 133 |
+
<font color=#dddddd>[<a href="#f4n"><font color=#dddddd>4</font></a>]</font><br /><br />This will be easier if you use a medium that lets you work fast and
|
| 134 |
+
doesn't require too much commitment up front. It's easier to convince
|
| 135 |
+
yourself that something is just a sketch when you're drawing in a
|
| 136 |
+
notebook than when you're carving stone. Plus you get initial results
|
| 137 |
+
faster.
|
| 138 |
+
<font color=#dddddd>[<a href="#f5n"><font color=#dddddd>5</font></a>]</font>
|
| 139 |
+
<font color=#dddddd>[<a href="#f6n"><font color=#dddddd>6</font></a>]</font><br /><br />It will be easier to try out a risky project if you think of it as
|
| 140 |
+
a way to learn and not just as a way to make something. Then even
|
| 141 |
+
if the project truly is a failure, you'll still have gained by it.
|
| 142 |
+
If the problem is sharply enough defined, failure itself is
|
| 143 |
+
knowledge: if the theorem you're trying to prove turns out to
|
| 144 |
+
be false, or you use a structural member of a certain size and
|
| 145 |
+
it fails under stress, you've learned something, even if it
|
| 146 |
+
isn't what you wanted to learn.
|
| 147 |
+
<font color=#dddddd>[<a href="#f7n"><font color=#dddddd>7</font></a>]</font><br /><br />One motivation that works particularly well for me is curiosity.
|
| 148 |
+
I like to try new things just to see how they'll turn out. We started
|
| 149 |
+
Y Combinator in this spirit, and it was one of main things that
|
| 150 |
+
kept me going while I was working on
|
| 151 |
+
<a href="bel.html"><u>Bel</u></a>. Having worked for so long
|
| 152 |
+
with various dialects of Lisp, I was very curious to see what its
|
| 153 |
+
inherent shape was: what you'd end up with if you followed the
|
| 154 |
+
axiomatic approach all the way.<br /><br />But it's a bit strange that you have to play mind games with yourself
|
| 155 |
+
to avoid being discouraged by lame-looking early efforts. The thing
|
| 156 |
+
you're trying to trick yourself into believing is in fact the truth.
|
| 157 |
+
A lame-looking early version of an ambitious project truly is more
|
| 158 |
+
valuable than it seems. So the ultimate solution may be to teach
|
| 159 |
+
yourself that.<br /><br />One way to do it is to study the histories of people who've
|
| 160 |
+
done great work. What were they thinking early on? What was the
|
| 161 |
+
very first thing they did? It can sometimes be hard to get an
|
| 162 |
+
accurate answer to this question, because people are often embarrassed
|
| 163 |
+
by their earliest work and make little effort to publish it. (They
|
| 164 |
+
too misjudge it.) But when you can get an accurate picture of the
|
| 165 |
+
first steps someone made on the path to some great work, they're
|
| 166 |
+
often pretty feeble.
|
| 167 |
+
<font color=#dddddd>[<a href="#f8n"><font color=#dddddd>8</font></a>]</font><br /><br />Perhaps if you study enough such cases, you can teach yourself to
|
| 168 |
+
be a better judge of early work. Then you'll be immune both to other
|
| 169 |
+
people's skepticism and your own fear of making something lame.
|
| 170 |
+
You'll see early work for what it is.<br /><br />Curiously enough, the solution to the problem of judging early work
|
| 171 |
+
too harshly is to realize that our attitudes toward it are themselves
|
| 172 |
+
early work. Holding everything to the same standard is a crude
|
| 173 |
+
version 1. We're already evolving better customs, and we can already
|
| 174 |
+
see signs of how big the payoff will be.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br />
|
| 175 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 176 |
+
This assumption may be too conservative. There is some evidence
|
| 177 |
+
that historically the Bay Area has attracted a
|
| 178 |
+
<a href="cities.html"><u>different sort of person</u></a> than,
|
| 179 |
+
say, New York City.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 180 |
+
One of their great favorites is Theranos. But the most conspicuous
|
| 181 |
+
feature of Theranos's cap table is the absence of Silicon Valley
|
| 182 |
+
firms. Journalists were fooled by Theranos, but Silicon Valley
|
| 183 |
+
investors weren't.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 184 |
+
I made two mistakes about teachers when I was younger. I
|
| 185 |
+
cared more about professors' research than their reputations as
|
| 186 |
+
teachers, and I was also wrong about what it meant to be a good
|
| 187 |
+
teacher. I thought it simply meant to be good at explaining things.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 188 |
+
Patrick Collison points out that you can go past treating
|
| 189 |
+
something as a hack in the sense of a prototype and onward to the
|
| 190 |
+
sense of the word that means something closer to a practical joke:
|
| 191 |
+
<blockquote>
|
| 192 |
+
I think there may be something related to being a hack that can
|
| 193 |
+
be powerful � the idea of making the tenuousness and implausibility
|
| 194 |
+
<i>a feature</i>. "Yes, it's a bit ridiculous, right? I'm just trying
|
| 195 |
+
to see how far such a naive approach can get." YC seemed to me
|
| 196 |
+
to have this characteristic.
|
| 197 |
+
</blockquote>
|
| 198 |
+
[<a name="f5n"><font color=#000000>5</font></a>]
|
| 199 |
+
Much of the advantage of switching from physical to digital
|
| 200 |
+
media is not the software per se but that it lets you start something
|
| 201 |
+
new with little upfront commitment.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 202 |
+
John Carmack adds:
|
| 203 |
+
<blockquote>
|
| 204 |
+
The value of a medium without a vast gulf between the early work
|
| 205 |
+
and the final work is exemplified in game mods. The original
|
| 206 |
+
Quake game was a golden age for mods, because everything was very
|
| 207 |
+
flexible, but so crude due to technical limitations, that quick
|
| 208 |
+
hacks to try out a gameplay idea weren't all <i>that</i> far from the
|
| 209 |
+
official game. Many careers were born from that, but as the
|
| 210 |
+
commercial game quality improved over the years, it became almost
|
| 211 |
+
a full time job to make a successful mod that would be appreciated
|
| 212 |
+
by the community. This was dramatically reversed with Minecraft
|
| 213 |
+
and later Roblox, where the entire esthetic of the experience was
|
| 214 |
+
so explicitly crude that innovative gameplay concepts became the
|
| 215 |
+
overriding value. These "crude" game mods by single authors are
|
| 216 |
+
now often bigger deals than massive professional teams' work.
|
| 217 |
+
</blockquote>
|
| 218 |
+
[<a name="f7n"><font color=#000000>7</font></a>]
|
| 219 |
+
Lisa Randall suggests that we
|
| 220 |
+
<blockquote>
|
| 221 |
+
treat new things as experiments. That way there's no such thing
|
| 222 |
+
as failing, since you learn something no matter what. You treat
|
| 223 |
+
it like an experiment in the sense that if it really rules something
|
| 224 |
+
out, you give up and move on, but if there's some way to vary it
|
| 225 |
+
to make it work better, go ahead and do that
|
| 226 |
+
</blockquote>
|
| 227 |
+
[<a name="f8n"><font color=#000000>8</font></a>]
|
| 228 |
+
Michael Nielsen points out that the internet has made this
|
| 229 |
+
easier, because you can see programmers' first commits, musicians'
|
| 230 |
+
first videos, and so on.<br /><br /><br /><br /><b>Thanks</b> to Trevor Blackwell, John Carmack, Patrick Collison, Jessica
|
| 231 |
+
Livingston, Michael Nielsen, and Lisa Randall for reading drafts
|
| 232 |
+
of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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|
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|
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|
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/earnest.html
ADDED
|
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|
| 1 |
+
<html><head><title>Earnestness</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebcd5><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebcd5 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/earnestness-4.gif" width="103" height="18" border="0" hspace="0" vspace="0" alt="Earnestness" /><br /><br /><font size="2" face="verdana">December 2020<br /><br />Jessica and I have certain words that have special significance
|
| 4 |
+
when we're talking about startups. The highest compliment we can
|
| 5 |
+
pay to founders is to describe them as "earnest." This is not by
|
| 6 |
+
itself a guarantee of success. You could be earnest but incapable.
|
| 7 |
+
But when founders are both formidable (another of our words) and
|
| 8 |
+
earnest, they're as close to unstoppable as you get.<br /><br />Earnestness sounds like a boring, even Victorian virtue. It seems
|
| 9 |
+
a bit of an anachronism that people in Silicon Valley would care
|
| 10 |
+
about it. Why does this matter so much?<br /><br />When you call someone earnest, you're making a statement about their
|
| 11 |
+
motives. It means both that they're doing something for the right
|
| 12 |
+
reasons, and that they're trying as hard as they can. If we imagine
|
| 13 |
+
motives as vectors, it means both the direction and the magnitude
|
| 14 |
+
are right. Though these are of course related: when people are doing
|
| 15 |
+
something for the right reasons, they try harder.
|
| 16 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />The reason motives matter so much in Silicon Valley is that so many
|
| 17 |
+
people there have the wrong ones. Starting a successful startup
|
| 18 |
+
makes you rich and famous. So a lot of the people trying to start
|
| 19 |
+
them are doing it for those reasons. Instead of what? Instead of
|
| 20 |
+
interest in the problem for its own sake. That is the root of
|
| 21 |
+
earnestness.
|
| 22 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />It's also the hallmark of a nerd. Indeed, when people describe
|
| 23 |
+
themselves as "x nerds," what they mean is that they're interested
|
| 24 |
+
in x for its own sake, and not because it's cool to be interested
|
| 25 |
+
in x, or because of what they can get from it. They're saying they
|
| 26 |
+
care so much about x that they're willing to sacrifice seeming cool
|
| 27 |
+
for its sake.<br /><br />A <a href="genius.html"><u>genuine interest</u></a>
|
| 28 |
+
in something is a very powerful motivator � for
|
| 29 |
+
some people, the most powerful motivator of all.
|
| 30 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font>
|
| 31 |
+
Which is why
|
| 32 |
+
it's what Jessica and I look for in founders. But as well as being
|
| 33 |
+
a source of strength, it's also a source of vulnerability. Caring
|
| 34 |
+
constrains you. The earnest can't easily reply in kind to mocking
|
| 35 |
+
banter, or put on a cool facade of nihil admirari. They care too
|
| 36 |
+
much. They are doomed to be the straight man. That's a real
|
| 37 |
+
disadvantage in your
|
| 38 |
+
<a href="nerds.html"><u>teenage years</u></a>,
|
| 39 |
+
when mocking banter and nihil
|
| 40 |
+
admirari often have the upper hand. But it becomes an advantage
|
| 41 |
+
later.<br /><br />It's a commonplace now that the kids who were
|
| 42 |
+
nerds in high school
|
| 43 |
+
become the cool kids' bosses later on. But people misunderstand why
|
| 44 |
+
this happens. It's not just because the nerds are smarter, but also
|
| 45 |
+
because they're more earnest. When the problems get harder than the
|
| 46 |
+
fake ones you're given in high school, caring about them starts to
|
| 47 |
+
matter.<br /><br />Does it always matter? Do the earnest always win? Not always. It
|
| 48 |
+
probably doesn't matter much in politics, or in crime, or in certain
|
| 49 |
+
types of business that are similar to crime, like gambling, personal
|
| 50 |
+
injury law, patent trolling, and so on. Nor does it matter in
|
| 51 |
+
academic fields at the more
|
| 52 |
+
<a href="https://scholar.google.com/scholar?hl=en&as_sdt=0%2C5&q=hermeneutic+dialectics+hegemonic+phenomenology+intersectionality"><u>bogus</u></a> end of the spectrum. And though
|
| 53 |
+
I don't know enough to say for sure, it may not matter in some kinds
|
| 54 |
+
of humor: it may be possible to be completely cynical and still be
|
| 55 |
+
very funny.
|
| 56 |
+
<font color=#dddddd>[<a href="#f4n"><font color=#dddddd>4</font></a>]</font><br /><br />Looking at the list of fields I mentioned, there's an obvious
|
| 57 |
+
pattern. Except possibly for humor, these are all types of work I'd
|
| 58 |
+
avoid like the plague. So that could be a useful heuristic for
|
| 59 |
+
deciding which fields to work in: how much does earnestness matter?
|
| 60 |
+
Which can in turn presumably be inferred from the prevalence of
|
| 61 |
+
nerds at the top.<br /><br />Along with "nerd," another word that tends to be associated with
|
| 62 |
+
earnestness is "naive." The earnest often seem naive. It's not
|
| 63 |
+
just that they don't have the motives other people have. They often
|
| 64 |
+
don't fully grasp that such motives exist. Or they may know
|
| 65 |
+
intellectually that they do, but because they don't feel them, they
|
| 66 |
+
forget about them.
|
| 67 |
+
<font color=#dddddd>[<a href="#f5n"><font color=#dddddd>5</font></a>]</font><br /><br />It works to be slightly naive not just about motives but also,
|
| 68 |
+
believe it or not, about the problems you're working on. Naive
|
| 69 |
+
optimism can compensate for the bit rot that
|
| 70 |
+
<a href="ecw.html"><u>rapid change</u></a> causes
|
| 71 |
+
in established beliefs. You plunge into some problem saying "How
|
| 72 |
+
hard can it be?", and then after solving it you learn that it was
|
| 73 |
+
till recently insoluble.<br /><br />Naivete is an obstacle for anyone who wants to seem sophisticated,
|
| 74 |
+
and this is one reason would-be intellectuals find it so difficult
|
| 75 |
+
to understand Silicon Valley. It hasn't been safe for such people
|
| 76 |
+
to use the word "earnest" outside scare quotes since Oscar Wilde
|
| 77 |
+
wrote "The Importance of Being Earnest" in 1895. And yet when you
|
| 78 |
+
zoom in on Silicon Valley, right into
|
| 79 |
+
<a href="jessica.html"><u>Jessica Livingston's brain</u></a>,
|
| 80 |
+
that's what her x-ray vision
|
| 81 |
+
is seeking out in founders. Earnestness!
|
| 82 |
+
Who'd have guessed? Reporters literally can't believe it when
|
| 83 |
+
founders making piles of money say that they started their companies
|
| 84 |
+
to make the world better. The situation seems made for mockery.
|
| 85 |
+
How can these founders be so naive as not to realize how implausible
|
| 86 |
+
they sound?<br /><br />Though those asking this question don't realize it, that's not a
|
| 87 |
+
rhetorical question.<br /><br />A lot of founders are faking it, of course, particularly the smaller
|
| 88 |
+
fry, and the soon to be smaller fry. But not all of them. There are
|
| 89 |
+
a significant number of founders who really are interested in the
|
| 90 |
+
problem they're solving mainly for its own sake.<br /><br />Why shouldn't there be? We have no difficulty believing that people
|
| 91 |
+
would be interested in history or math or even old bus tickets for
|
| 92 |
+
their own sake. Why can't there be people interested in self-driving
|
| 93 |
+
cars or social networks for their own sake? When you look at the
|
| 94 |
+
question from this side, it seems obvious there would be. And isn't
|
| 95 |
+
it likely that having a deep interest in something would be a source
|
| 96 |
+
of great energy and resilience? It is in every other field.<br /><br />The question really is why we have a blind spot about business.
|
| 97 |
+
And the answer to that is obvious if you know enough history. For
|
| 98 |
+
most of history, making large amounts of money has not been very
|
| 99 |
+
intellectually interesting. In preindustrial times it was never far
|
| 100 |
+
from robbery, and some areas of business still retain that character,
|
| 101 |
+
except using lawyers instead of soldiers.<br /><br />But there are other areas of business where the work is genuinely
|
| 102 |
+
interesting. Henry Ford got to spend much of his time working on
|
| 103 |
+
interesting technical problems, and for the last several decades
|
| 104 |
+
the trend in that direction has been accelerating. It's much easier
|
| 105 |
+
now to make a lot of money by working on something you're interested
|
| 106 |
+
in than it was <a href="re.html"><u>50 years ago</u></a>.
|
| 107 |
+
And that, rather than how fast they
|
| 108 |
+
grow, may be the most important change that startups represent.
|
| 109 |
+
Though indeed, the fact that the work is genuinely interesting is
|
| 110 |
+
a big part of why it gets done so fast.
|
| 111 |
+
<font color=#dddddd>[<a href="#f6n"><font color=#dddddd>6</font></a>]</font><br /><br />Can you imagine a more important change than one in the relationship
|
| 112 |
+
between intellectual curiosity and money? These are two of the most
|
| 113 |
+
powerful forces in the world, and in my lifetime they've become
|
| 114 |
+
significantly more aligned. How could you not be fascinated to watch
|
| 115 |
+
something like this happening in real time?<br /><br />I meant this essay to be about earnestness generally, and now I've
|
| 116 |
+
gone and talked about startups again. But I suppose at least it
|
| 117 |
+
serves as an example of an x nerd in the wild.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 118 |
+
It's interesting how many different ways there are <i>not</i> to
|
| 119 |
+
be earnest: to be cleverly cynical, to be superficially brilliant,
|
| 120 |
+
to be conspicuously virtuous, to be cool, to be sophisticated, to
|
| 121 |
+
be orthodox, to be a snob, to bully, to pander, to be on the make.
|
| 122 |
+
This pattern suggests that earnestness is not one end of a continuum,
|
| 123 |
+
but a target one can fall short of in multiple dimensions.<br /><br />Another thing I notice about this list is that it sounds like a
|
| 124 |
+
list of the ways people behave on Twitter. Whatever else social
|
| 125 |
+
media is, it's a vivid catalogue of ways not to be earnest.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 126 |
+
People's motives are as mixed in Silicon Valley as anywhere
|
| 127 |
+
else. Even the founders motivated mostly by money tend to be at
|
| 128 |
+
least somewhat interested in the problem they're solving, and even
|
| 129 |
+
the founders most interested in the problem they're solving also
|
| 130 |
+
like the idea of getting rich. But there's great variation in the
|
| 131 |
+
relative proportions of different founders' motivations.<br /><br />And when I talk about "wrong" motives, I don't mean morally wrong.
|
| 132 |
+
There's nothing morally wrong with starting a startup to make money.
|
| 133 |
+
I just mean that those startups don't do as well.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 134 |
+
The most powerful motivator for most people is probably family.
|
| 135 |
+
But there are some for whom intellectual curiosity comes first. In
|
| 136 |
+
his (wonderful) autobiography, Paul Halmos says explicitly that for
|
| 137 |
+
a mathematician, math must come before anything else, including
|
| 138 |
+
family. Which at least implies that it did for him.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 139 |
+
Interestingly, just as the word "nerd" implies earnestness even
|
| 140 |
+
when used as a metaphor, the word "politics" implies the opposite.
|
| 141 |
+
It's not only in actual politics that earnestness seems to be a
|
| 142 |
+
handicap, but also in office politics and academic politics.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 143 |
+
It's a bigger social error to seem naive in most European
|
| 144 |
+
countries than it is in America, and this may be one of subtler
|
| 145 |
+
reasons startups are less common there. Founder culture is completely
|
| 146 |
+
at odds with sophisticated cynicism.<br /><br />The most earnest part of Europe is Scandinavia, and not surprisingly
|
| 147 |
+
this is also the region with the highest number of successful
|
| 148 |
+
startups per capita.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 149 |
+
Much of business is schleps, and probably always will be. But
|
| 150 |
+
even being a professor is largely schleps. It would be interesting
|
| 151 |
+
to collect statistics about the schlep ratios of different jobs,
|
| 152 |
+
but I suspect they'd rarely be less than 30%.<br /><br /><br /><br /><b>Thanks</b> to Trevor Blackwell, Patrick Collison, Suhail Doshi, Jessica
|
| 153 |
+
Livingston, Mattias Ljungman, Harj Taggar, and Kyle Vogt for reading
|
| 154 |
+
drafts of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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| 157 |
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| 158 |
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</script>
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| 159 |
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|
| 160 |
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<script type="text/javascript">
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function toOSTN(node){
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| 163 |
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|
| 164 |
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| 166 |
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| 167 |
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| 168 |
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| 178 |
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</script>
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// Begin Store Generated Code
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</script>
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<script type="text/javascript">
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// Begin Store Generated Code
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csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
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| 186 |
+
</script>
|
| 187 |
+
<script type="text/javascript">
|
| 188 |
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// Begin Store Generated Code
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| 189 |
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function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'earnest'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 190 |
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</script>
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| 191 |
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<script type="text/javascript">
|
| 192 |
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// Begin Store Generated Code
|
| 193 |
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function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 194 |
+
</script>
|
| 195 |
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<script type="text/javascript">
|
| 196 |
+
// Begin Store Generated Code
|
| 197 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=earnest&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 198 |
+
</script>
|
| 199 |
+
</html>
|
| 200 |
+
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/ecw.html
ADDED
|
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|
| 1 |
+
<html><head><title>How to Be an Expert in a Changing World</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc7d><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc7d border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-be-an-expert-in-a-changing-world-4.gif" width="330" height="18" border="0" hspace="0" vspace="0" alt="How to Be an Expert in a Changing World" /><br /><br /><font size="2" face="verdana">December 2014<br /><br />If the world were static, we could have monotonically increasing
|
| 4 |
+
confidence in our beliefs. The more (and more varied) experience
|
| 5 |
+
a belief survived, the less likely it would be false. Most people
|
| 6 |
+
implicitly believe something like this about their opinions. And
|
| 7 |
+
they're justified in doing so with opinions about things that don't
|
| 8 |
+
change much, like human nature. But you can't trust your opinions
|
| 9 |
+
in the same way about things that change, which could include
|
| 10 |
+
practically everything else.<br /><br />When experts are wrong, it's often because they're experts on an
|
| 11 |
+
earlier version of the world.<br /><br />Is it possible to avoid that? Can you protect yourself against
|
| 12 |
+
obsolete beliefs? To some extent, yes. I spent almost a decade
|
| 13 |
+
investing in early stage startups, and curiously enough protecting
|
| 14 |
+
yourself against obsolete beliefs is exactly what you have to do
|
| 15 |
+
to succeed as a startup investor. Most really good startup ideas
|
| 16 |
+
look like bad ideas at first, and many of those look bad specifically
|
| 17 |
+
because some change in the world just switched them from bad to
|
| 18 |
+
good. I spent a lot of time learning to recognize such ideas, and
|
| 19 |
+
the techniques I used may be applicable to ideas in general.<br /><br />The first step is to have an explicit belief in change. People who
|
| 20 |
+
fall victim to a monotonically increasing confidence in their
|
| 21 |
+
opinions are implicitly concluding the world is static. If you
|
| 22 |
+
consciously remind yourself it isn't, you start to look for change.<br /><br />Where should one look for it? Beyond the moderately useful
|
| 23 |
+
generalization that human nature doesn't change much, the unfortunate
|
| 24 |
+
fact is that change is hard to predict. This is largely a tautology
|
| 25 |
+
but worth remembering all the same: change that matters usually
|
| 26 |
+
comes from an unforeseen quarter.<br /><br />So I don't even try to predict it. When I get asked in interviews
|
| 27 |
+
to predict the future, I always have to struggle to come up with
|
| 28 |
+
something plausible-sounding on the fly, like a student who hasn't
|
| 29 |
+
prepared for an exam.
|
| 30 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font>
|
| 31 |
+
But it's not out of laziness that I haven't
|
| 32 |
+
prepared. It seems to me that beliefs about the future are so
|
| 33 |
+
rarely correct that they usually aren't worth the extra rigidity
|
| 34 |
+
they impose, and that the best strategy is simply to be aggressively
|
| 35 |
+
open-minded. Instead of trying to point yourself in the right
|
| 36 |
+
direction, admit you have no idea what the right direction is, and
|
| 37 |
+
try instead to be super sensitive to the winds of change.<br /><br />It's ok to have working hypotheses, even though they may constrain
|
| 38 |
+
you a bit, because they also motivate you. It's exciting to chase
|
| 39 |
+
things and exciting to try to guess answers. But you have to be
|
| 40 |
+
disciplined about not letting your hypotheses harden into anything
|
| 41 |
+
more.
|
| 42 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br />I believe this passive m.o. works not just for evaluating new ideas
|
| 43 |
+
but also for having them. The way to come up with new ideas is not
|
| 44 |
+
to try explicitly to, but to try to solve problems and simply not
|
| 45 |
+
discount weird hunches you have in the process.<br /><br />The winds of change originate in the unconscious minds of domain
|
| 46 |
+
experts. If you're sufficiently expert in a field, any weird idea
|
| 47 |
+
or apparently irrelevant question that occurs to you is ipso facto
|
| 48 |
+
worth exploring.
|
| 49 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font>
|
| 50 |
+
Within Y Combinator, when an idea is described
|
| 51 |
+
as crazy, it's a compliment—in fact, on average probably a
|
| 52 |
+
higher compliment than when an idea is described as good.<br /><br />Startup investors have extraordinary incentives for correcting
|
| 53 |
+
obsolete beliefs. If they can realize before other investors that
|
| 54 |
+
some apparently unpromising startup isn't, they can make a huge
|
| 55 |
+
amount of money. But the incentives are more than just financial.
|
| 56 |
+
Investors' opinions are explicitly tested: startups come to them
|
| 57 |
+
and they have to say yes or no, and then, fairly quickly, they learn
|
| 58 |
+
whether they guessed right. The investors who say no to a Google
|
| 59 |
+
(and there were several) will remember it for the rest of their
|
| 60 |
+
lives.<br /><br />Anyone who must in some sense bet on ideas rather than merely
|
| 61 |
+
commenting on them has similar incentives. Which means anyone who
|
| 62 |
+
wants such incentives can have them, by turning their comments into
|
| 63 |
+
bets: if you write about a topic in some fairly durable and public
|
| 64 |
+
form, you'll find you worry much more about getting things right
|
| 65 |
+
than most people would in a casual conversation.
|
| 66 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font><br /><br />Another trick I've found to protect myself against obsolete beliefs
|
| 67 |
+
is to focus initially on people rather than ideas. Though the nature
|
| 68 |
+
of future discoveries is hard to predict, I've found I can predict
|
| 69 |
+
quite well what sort of people will make them. Good new ideas come
|
| 70 |
+
from earnest, energetic, independent-minded people.<br /><br />Betting on people over ideas saved me countless times as an investor.
|
| 71 |
+
We thought Airbnb was a bad idea, for example. But we could tell
|
| 72 |
+
the founders were earnest, energetic, and independent-minded.
|
| 73 |
+
(Indeed, almost pathologically so.) So we suspended disbelief and
|
| 74 |
+
funded them.<br /><br />This too seems a technique that should be generally applicable.
|
| 75 |
+
Surround yourself with the sort of people new ideas come from. If
|
| 76 |
+
you want to notice quickly when your beliefs become obsolete, you
|
| 77 |
+
can't do better than to be friends with the people whose discoveries
|
| 78 |
+
will make them so.<br /><br />It's hard enough already not to become the prisoner of your own
|
| 79 |
+
expertise, but it will only get harder, because change is accelerating.
|
| 80 |
+
That's not a recent trend; change has been accelerating since the
|
| 81 |
+
paleolithic era. Ideas beget ideas. I don't expect that to change.
|
| 82 |
+
But I could be wrong.<br /><br /><br /><br /><br /><br />
|
| 83 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 84 |
+
My usual trick is to talk about aspects of the present that
|
| 85 |
+
most people haven't noticed yet.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 86 |
+
Especially if they become well enough known that people start
|
| 87 |
+
to identify them with you. You have to be extra skeptical about
|
| 88 |
+
things you want to believe, and once a hypothesis starts to be
|
| 89 |
+
identified with you, it will almost certainly start to be in that
|
| 90 |
+
category.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 91 |
+
In practice "sufficiently expert" doesn't require one to be
|
| 92 |
+
recognized as an expert—which is a trailing indicator in any
|
| 93 |
+
case. In many fields a year of focused work plus caring a lot would
|
| 94 |
+
be enough.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 95 |
+
Though they are public and persist indefinitely, comments on
|
| 96 |
+
e.g. forums and places like Twitter seem empirically to work like
|
| 97 |
+
casual conversation. The threshold may be whether what you write
|
| 98 |
+
has a title.<br /><br />
|
| 99 |
+
<b>Thanks</b> to Sam Altman, Patrick Collison, and Robert Morris
|
| 100 |
+
for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://nrike.svbtle.com/cmo-ser-un-experto-en-un-mundo-cambiante">Spanish Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://tldrarabiccontents.blogspot.com/2020/01/blog-post_31.html">Arabic Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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<script type="text/javascript">
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// Begin Store Generated Code
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<script type="text/javascript">
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// Begin Store Generated Code
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</script>
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<script type="text/javascript">
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// Begin Store Generated Code
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|
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|
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/faq.html
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<html><head><title>FAQs</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
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</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc303><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" 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src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="arcfaq.html">Arc FAQ</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="lispfaq1.html">Lisp FAQ</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="vwfaq.html">Viaweb FAQ</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="spamfaq.html">Plan for Spam FAQ</a><img 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| 1 |
+
<html><head><title>Haters</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc9f><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc9f border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/haters-4.gif" width="58" height="18" border="0" hspace="0" vspace="0" alt="Haters" /><br /><br /><font size="2" face="verdana">January 2020<br /><br /><i>(I originally intended this for startup founders, who are often
|
| 4 |
+
surprised by the attention they get as their companies grow, but
|
| 5 |
+
it applies equally to anyone who becomes famous.)</i><br /><br />If you become sufficiently famous, you'll acquire some fans who
|
| 6 |
+
like you too much. These people are sometimes called "fanboys," and
|
| 7 |
+
though I dislike that term, I'm going to have to use it here. We
|
| 8 |
+
need some word for them, because this is a distinct phenomenon from
|
| 9 |
+
someone simply liking your work.<br /><br />A fanboy is obsessive and uncritical. Liking you becomes part of
|
| 10 |
+
their identity, and they create an image of you in their own head
|
| 11 |
+
that is much better than reality. Everything you do is good, because
|
| 12 |
+
you do it. If you do something bad, they find a way to see it as
|
| 13 |
+
good. And their love for you is not, usually, a quiet, private one.
|
| 14 |
+
They want everyone to know how great you are.<br /><br />Well, you may be thinking, I could do without this kind of obsessive
|
| 15 |
+
fan, but I know there are all kinds of people in the world, and if
|
| 16 |
+
this is the worst consequence of fame, that's not so bad.<br /><br />Unfortunately this is not the worst consequence of fame. As well
|
| 17 |
+
as fanboys, you'll have haters.<br /><br />A hater is obsessive and uncritical. Disliking you becomes part of
|
| 18 |
+
their identity, and they create an image of you in their own head
|
| 19 |
+
that is much worse than reality. Everything you do is bad, because
|
| 20 |
+
you do it. If you do something good, they find a way to see it as
|
| 21 |
+
bad. And their dislike for you is not, usually, a quiet, private
|
| 22 |
+
one. They want everyone to know how awful you are.<br /><br />If you're thinking of checking, I'll save you the trouble. The
|
| 23 |
+
second and fifth paragraphs are identical except for "good" being
|
| 24 |
+
switched to "bad" and so on.<br /><br />I spent years puzzling about haters. What are they, and where do
|
| 25 |
+
they come from? Then one day it dawned on me. Haters are just fanboys
|
| 26 |
+
with the sign switched.<br /><br />Note that by haters, I don't simply mean trolls. I'm not talking about
|
| 27 |
+
people who say bad things about you and then move on. I'm talking
|
| 28 |
+
about the much smaller group of people for whom this becomes a
|
| 29 |
+
kind of obsession and who do it repeatedly over a long period.<br /><br />Like fans, haters seem to be an automatic consequence of fame.
|
| 30 |
+
Anyone sufficiently famous will have them. And like fans, haters
|
| 31 |
+
are energized by the fame of whoever they hate. They hear a song
|
| 32 |
+
by some pop singer. They don't like it much. If the singer were an
|
| 33 |
+
obscure one, they'd just forget about it. But instead they keep
|
| 34 |
+
hearing her name, and this seems to drive some people crazy.
|
| 35 |
+
Everyone's always going on about this singer, but she's no good!
|
| 36 |
+
She's a fraud!<br /><br />That word "fraud" is an important one. It's the spectral signature
|
| 37 |
+
of a hater to regard the object of their hatred as a
|
| 38 |
+
<a href="https://twitter.com/search?q=Musk%20fraud&src=typed_query&f=live"><u>fraud</u></a>. They
|
| 39 |
+
can't deny their fame. Indeed, their fame is if anything exaggerated
|
| 40 |
+
in the hater's mind. They notice every mention of the singer's name,
|
| 41 |
+
because every mention makes them angrier. In their own minds they
|
| 42 |
+
exaggerate both the singer's fame and her lack of talent, and the
|
| 43 |
+
only way to reconcile those two ideas is to conclude that she has
|
| 44 |
+
tricked everyone.<br /><br />What sort of people become haters? Can anyone become one? I'm not
|
| 45 |
+
sure about this, but I've noticed some patterns. Haters are generally
|
| 46 |
+
losers in a very specific sense: although they are occasionally
|
| 47 |
+
talented, they have never achieved much. And indeed, anyone
|
| 48 |
+
successful enough to have achieved significant fame would be unlikely
|
| 49 |
+
to regard another famous person as a fraud on that account, because
|
| 50 |
+
anyone famous knows how random fame is.<br /><br />But haters are not always complete losers. They are not always the
|
| 51 |
+
proverbial guy living in his mom's basement. Many are, but some
|
| 52 |
+
have some amount of talent. In fact I suspect that a sense of
|
| 53 |
+
frustrated talent is what drives some people to become haters.
|
| 54 |
+
They're not just saying "It's unfair that so-and-so is famous," but
|
| 55 |
+
"It's unfair that so-and-so is famous, and not me."<br /><br />Could a hater be cured if they achieved something impressive? My
|
| 56 |
+
guess is that's a moot point, because they
|
| 57 |
+
<a href="mean.html"><u>never will</u></a>. I've been
|
| 58 |
+
able to observe for long enough that I'm fairly confident the pattern
|
| 59 |
+
works both ways: not only do people who do great work never become
|
| 60 |
+
haters, haters never do great work. Although I dislike the word
|
| 61 |
+
"fanboy," it's evocative of something important about both haters
|
| 62 |
+
and fanboys. It implies that the fanboy is so slavishly predictable in his admiration
|
| 63 |
+
that he's diminished as a result, that he's less than a man.<br /><br />Haters seem even more diminished. I can imagine being a fanboy.
|
| 64 |
+
I can think of people whose work I admire so much that I could abase
|
| 65 |
+
myself before them out of sheer gratitude. If P. G. Wodehouse were
|
| 66 |
+
still alive, I could see myself being a Wodehouse fanboy. But I
|
| 67 |
+
could not imagine being a hater.<br /><br />Knowing that haters are just fanboys with the sign bit flipped makes
|
| 68 |
+
it much easier to deal with them. We don't need a separate theory
|
| 69 |
+
of haters. We can just use existing techniques for dealing with
|
| 70 |
+
obsessive fans.<br /><br />The most important of which is simply not to think much about them.
|
| 71 |
+
If you're like most people who become famous enough to acquire
|
| 72 |
+
haters, your initial reaction will be one of mystification. Why
|
| 73 |
+
does this guy seem to have it in for me? Where does his obsessive
|
| 74 |
+
energy come from, and what makes him so appallingly nasty? What did
|
| 75 |
+
I do to set him off? Is it something I can fix?<br /><br />The mistake here is to think of the hater as someone you have a
|
| 76 |
+
dispute with. When you have a dispute with someone, it's usually a
|
| 77 |
+
good idea to try to understand why they're upset and then fix things
|
| 78 |
+
if you can. Disputes are distracting. But it's a false analogy to
|
| 79 |
+
think of a hater as someone you have a dispute with. It's an
|
| 80 |
+
understandable mistake, if you've never encountered haters before.
|
| 81 |
+
But when you realize that you're dealing with a hater, and what a
|
| 82 |
+
hater is, it's clear that it's a waste of time even to think about
|
| 83 |
+
them. If you have obsessive fans, do you spend any time wondering
|
| 84 |
+
what makes them love you so much? No, you just think "some
|
| 85 |
+
people are kind of crazy," and that's the end of it.<br /><br />Since haters are equivalent to fanboys, that's the way to deal with
|
| 86 |
+
them too. There may have been something that set them off. But it's
|
| 87 |
+
not something that would have set off a normal person, so there's
|
| 88 |
+
no reason to spend any time thinking about it. It's not you, it's
|
| 89 |
+
them.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[1] There are of course some people who are genuine frauds. How can
|
| 90 |
+
you distinguish between x calling y a fraud because x is a hater,
|
| 91 |
+
and because y is a fraud? Look at neutral opinion. Actual frauds
|
| 92 |
+
are usually pretty conspicuous. Thoughtful people are rarely taken
|
| 93 |
+
in by them. So if there are some thoughtful people who like y, you
|
| 94 |
+
can usually assume y is not a fraud.<br /><br />[2] I would make an exception for teenagers, who sometimes act in
|
| 95 |
+
such extreme ways that they are literally not themselves. I can
|
| 96 |
+
imagine a teenage kid being a hater and then growing out of it. But
|
| 97 |
+
not anyone over 25.<br /><br />[3] I have a much worse memory for misdeeds than my wife Jessica,
|
| 98 |
+
who is a connoisseur of character, but I don't wish it were better.
|
| 99 |
+
Most disputes are a waste of time even if you're in the right, and
|
| 100 |
+
it's easy to bury the hatchet with someone if you can't remember
|
| 101 |
+
why you were mad at them.<br /><br />[4] A competent hater will not merely attack you individually but
|
| 102 |
+
will try to get mobs after you. In some cases you may want to refute
|
| 103 |
+
whatever bogus claim they made in order to do so. But err on the
|
| 104 |
+
side of not, because ultimately it probably won't matter.<br /><br /><br /><br /><font color="888888"><b>Thanks</b> to Austen Allred, Trevor Blackwell, Patrick Collison,
|
| 105 |
+
Christine Ford, Daniel Gackle, Jessica Livingston, Robert Morris,
|
| 106 |
+
Elon Musk, Harj Taggar, and Peter Thiel for reading drafts of this.</font><br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://note.com/tokyojack/n/n5c47575488b6">Japanese Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://tldrarabiccontents.blogspot.com/2020/01/blog-post_22.html">Arabic Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://stronglyagainst.com/pgraham-fanboy-hater/">Polish Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
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<script type="text/javascript">
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<script type="text/javascript">
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+
}
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};
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for (let i = 0; i < fromOSYN.length; i++) {
|
| 125 |
+
toOSTN(fromOSYN[i]);
|
| 126 |
+
}
|
| 127 |
+
}
|
| 128 |
+
}
|
| 129 |
+
});
|
| 130 |
+
</script>
|
| 131 |
+
<script type="text/javascript">
|
| 132 |
+
// Begin Store Generated Code
|
| 133 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 134 |
+
</script>
|
| 135 |
+
<script type="text/javascript">
|
| 136 |
+
// Begin Store Generated Code
|
| 137 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 138 |
+
</script>
|
| 139 |
+
<script type="text/javascript">
|
| 140 |
+
// Begin Store Generated Code
|
| 141 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'fh'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 142 |
+
</script>
|
| 143 |
+
<script type="text/javascript">
|
| 144 |
+
// Begin Store Generated Code
|
| 145 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 146 |
+
</script>
|
| 147 |
+
<script type="text/javascript">
|
| 148 |
+
// Begin Store Generated Code
|
| 149 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=fh&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 150 |
+
</script>
|
| 151 |
+
</html>
|
| 152 |
+
<!-- html103.prod.store.e1b.lumsb.com Sun Aug 24 02:50:42 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/field.html
ADDED
|
@@ -0,0 +1,110 @@
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|
| 1 |
+
<html><head><meta name="Keywords" content="" /><title>The Shape of the Essay Field</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/bel-6.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=166cf683ec4085f><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/bel-7.gif" width="69" height="357" usemap=#166cf683ec4085f border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/bel-8.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/the-shape-of-the-essay-field-1.gif" width="227" height="18" border="0" hspace="0" vspace="0" alt="The Shape of the Essay Field" /><br /><br /><font size="2" face="verdana">June 2025<br /><br />An essay has to tell people something they don't already know. But
|
| 4 |
+
there are three different reasons people might not know something,
|
| 5 |
+
and they yield three very different kinds of essays.<br /><br />One reason people won't know something is if it's not important to
|
| 6 |
+
know. That doesn't mean it will make a bad essay. For example, you
|
| 7 |
+
might write a good essay about a particular model of car. Readers
|
| 8 |
+
would learn something from it. It would add to their picture of the
|
| 9 |
+
world. For a handful of readers it might even spur some kind of
|
| 10 |
+
epiphany. But unless this is a very unusual car it's not critical
|
| 11 |
+
for everyone to know about it.
|
| 12 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />If something isn't important to know, there's no answer to the
|
| 13 |
+
question of why people don't know it. Not knowing random facts is
|
| 14 |
+
the default. But if you're going to write about things that <i>are</i>
|
| 15 |
+
important to know, you have to ask why your readers don't already
|
| 16 |
+
know them. Is it because they're smart but inexperienced, or because
|
| 17 |
+
they're obtuse?<br /><br />So the three reasons readers might not already know what you tell
|
| 18 |
+
them are (a) that it's not important, (b) that they're obtuse,
|
| 19 |
+
or (c) that they're inexperienced.<br /><br />The reason I did this breakdown was to get at the following fact,
|
| 20 |
+
which might have seemed controversial if I'd led with it, but should
|
| 21 |
+
be obvious now. If you're writing for smart people about important
|
| 22 |
+
things, you're writing for the young.<br /><br />Or more precisely, that's where you'll have the most effect. Whatever
|
| 23 |
+
you say should also be at least somewhat novel to you, however old
|
| 24 |
+
you are. It's not an essay otherwise, because an essay is something
|
| 25 |
+
you write to figure something out. But whatever you figure out will
|
| 26 |
+
presumably be more of a surprise to younger readers than it is to
|
| 27 |
+
you.<br /><br />There's a continuum of surprise. At one extreme, something you read
|
| 28 |
+
can change your whole way of thinking. <i>The Selfish Gene</i> did this
|
| 29 |
+
to me. It was like suddenly seeing the other interpretation of an
|
| 30 |
+
ambiguous image: you can treat genes rather than organisms as the
|
| 31 |
+
protagonists, and evolution becomes easier to understand when you
|
| 32 |
+
do. At the other extreme, writing merely puts into words something
|
| 33 |
+
readers were already thinking — or thought they were.<br /><br />The impact of an essay is how much it changes readers' thinking
|
| 34 |
+
multiplied by the importance of the topic. But it's hard to do well
|
| 35 |
+
at both. It's hard to have big new ideas about important topics.
|
| 36 |
+
So in practice there's a tradeoff: you can change readers' thinking
|
| 37 |
+
a lot about moderately important things, or change it a little about
|
| 38 |
+
very important ones. But with younger readers the tradeoff shifts.
|
| 39 |
+
There's more room to change their thinking, so there's a bigger
|
| 40 |
+
payoff for writing about important things.<br /><br />The tradeoff isn't a conscious one, at least not for me. It's more
|
| 41 |
+
like a kind of gravitational field that writers work in. But every
|
| 42 |
+
essayist works in it, whether they realize it or not.<br /><br />This seems obvious once you state it, but it took me a long time
|
| 43 |
+
to understand. I knew I wanted to write for smart people about
|
| 44 |
+
important topics. I noticed empirically that I seemed to be writing
|
| 45 |
+
for the young. But it took me years to understand that the latter
|
| 46 |
+
was an automatic consequence of the former. In fact I only really
|
| 47 |
+
figured it out as I was writing this essay.<br /><br />Now that I know it, should I change anything? I don't think so. In
|
| 48 |
+
fact seeing the shape of the field that writers work in has reminded
|
| 49 |
+
me that I'm not optimizing for returns in it. I'm not trying to
|
| 50 |
+
surprise readers of any particular age; I'm trying to surprise
|
| 51 |
+
myself.<br /><br />The way I usually decide what to write about is by following
|
| 52 |
+
curiosity. I notice something new and dig into it. It would probably
|
| 53 |
+
be a mistake to change that. But seeing the shape of the essay field
|
| 54 |
+
has set me thinking. What would surprise young readers? Which
|
| 55 |
+
important things do people tend to learn late? Interesting question.
|
| 56 |
+
I should think about that.<br /><br /><br /><br /><br /><br /><br /><br />
|
| 57 |
+
<b>Note</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 58 |
+
It's hard to write a really good essay about an unimportant
|
| 59 |
+
topic, though, because a really good essayist will inevitably draw
|
| 60 |
+
the topic into deeper waters. E. B. White could write an essay about
|
| 61 |
+
how to boil potatoes that ended up being full of timeless wisdom.
|
| 62 |
+
In which case, of course, it wouldn't really be about how to boil
|
| 63 |
+
potatoes; that would just have been the starting point.<br /><br /><br /><br /><font color="888888"><b>Thanks</b> to Jessica Livingston and Michael
|
| 64 |
+
Nielsen for reading drafts of this.</font><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 65 |
+
<script type="text/javascript">
|
| 66 |
+
csell_env = 'ue1';
|
| 67 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 68 |
+
</script>
|
| 69 |
+
|
| 70 |
+
<script type="text/javascript">
|
| 71 |
+
function toOSTN(node){
|
| 72 |
+
if(node.hasAttributes()){
|
| 73 |
+
for (const attr of node.attributes) {
|
| 74 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 75 |
+
}
|
| 76 |
+
}
|
| 77 |
+
};
|
| 78 |
+
document.addEventListener('readystatechange', event => {
|
| 79 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 80 |
+
if (event.target.readyState === "interactive") {
|
| 81 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 82 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 83 |
+
toOSTN(fromOSYN[i]);
|
| 84 |
+
}
|
| 85 |
+
}
|
| 86 |
+
}
|
| 87 |
+
});
|
| 88 |
+
</script>
|
| 89 |
+
<script type="text/javascript">
|
| 90 |
+
// Begin Store Generated Code
|
| 91 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 92 |
+
</script>
|
| 93 |
+
<script type="text/javascript">
|
| 94 |
+
// Begin Store Generated Code
|
| 95 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 96 |
+
</script>
|
| 97 |
+
<script type="text/javascript">
|
| 98 |
+
// Begin Store Generated Code
|
| 99 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'field'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 100 |
+
</script>
|
| 101 |
+
<script type="text/javascript">
|
| 102 |
+
// Begin Store Generated Code
|
| 103 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 104 |
+
</script>
|
| 105 |
+
<script type="text/javascript">
|
| 106 |
+
// Begin Store Generated Code
|
| 107 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=field&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 108 |
+
</script>
|
| 109 |
+
</html>
|
| 110 |
+
<!-- html109.prod.store.e1b.lumsb.com Sun Aug 24 02:50:33 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/fn.html
ADDED
|
@@ -0,0 +1,160 @@
|
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| 1 |
+
<html><head><title>Fierce Nerds</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebccb><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebccb border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/fierce-nerds-4.gif" width="104" height="18" border="0" hspace="0" vspace="0" alt="Fierce Nerds" /><br /><br /><font size="2" face="verdana">May 2021<br /><br />Most people think of nerds as quiet, diffident people. In ordinary
|
| 4 |
+
social situations they are — as quiet and diffident as the star
|
| 5 |
+
quarterback would be if he found himself in the middle of a physics
|
| 6 |
+
symposium. And for the same reason: they are fish out of water.
|
| 7 |
+
But the apparent diffidence of nerds is an illusion due to the fact
|
| 8 |
+
that when non-nerds observe them, it's usually in ordinary social
|
| 9 |
+
situations. In fact some nerds are quite fierce.<br /><br />The fierce nerds are a small but interesting group. They are as a
|
| 10 |
+
rule extremely competitive — more competitive, I'd say, than highly
|
| 11 |
+
competitive non-nerds. Competition is more personal for them. Partly
|
| 12 |
+
perhaps because they're not emotionally mature enough to distance
|
| 13 |
+
themselves from it, but also because there's less randomness in the
|
| 14 |
+
kinds of competition they engage in, and they are thus more justified
|
| 15 |
+
in taking the results personally.<br /><br />Fierce nerds also tend to be somewhat overconfident, especially
|
| 16 |
+
when young. It might seem like it would be a disadvantage to be
|
| 17 |
+
mistaken about one's abilities, but empirically it isn't. Up to a
|
| 18 |
+
point, confidence is a self-fullfilling prophecy.<br /><br />Another quality you find in most fierce nerds is intelligence. Not
|
| 19 |
+
all nerds are smart, but the fierce ones are always at least
|
| 20 |
+
moderately so. If they weren't, they wouldn't have the confidence
|
| 21 |
+
to be fierce.
|
| 22 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />There's also a natural connection between nerdiness and
|
| 23 |
+
<a href="think.html"><u>independent-mindedness</u></a>. It's hard to be
|
| 24 |
+
independent-minded without
|
| 25 |
+
being somewhat socially awkward, because conventional beliefs are
|
| 26 |
+
so often mistaken, or at least arbitrary. No one who was both
|
| 27 |
+
independent-minded and ambitious would want to waste the effort it
|
| 28 |
+
takes to fit in. And the independent-mindedness of the fierce nerds
|
| 29 |
+
will obviously be of the <a href="conformism.html"><u>aggressive</u></a>
|
| 30 |
+
rather than the passive type:
|
| 31 |
+
they'll be annoyed by rules, rather than dreamily unaware of them.<br /><br />I'm less sure why fierce nerds are impatient, but most seem to be.
|
| 32 |
+
You notice it first in conversation, where they tend to interrupt
|
| 33 |
+
you. This is merely annoying, but in the more promising fierce nerds
|
| 34 |
+
it's connected to a deeper impatience about solving problems. Perhaps
|
| 35 |
+
the competitiveness and impatience of fierce nerds are not separate
|
| 36 |
+
qualities, but two manifestations of a single underlying drivenness.<br /><br />When you combine all these qualities in sufficient quantities, the
|
| 37 |
+
result is quite formidable. The most vivid example of fierce nerds
|
| 38 |
+
in action may be James Watson's <i>The Double Helix</i>. The first sentence
|
| 39 |
+
of the book is "I have never seen Francis Crick in a modest mood,"
|
| 40 |
+
and the portrait he goes on to paint of Crick is the quintessential
|
| 41 |
+
fierce nerd: brilliant, socially awkward, competitive, independent-minded,
|
| 42 |
+
overconfident. But so is the implicit portrait he paints of himself.
|
| 43 |
+
Indeed, his lack of social awareness makes both portraits that much
|
| 44 |
+
more realistic, because he baldly states all sorts of opinions and
|
| 45 |
+
motivations that a smoother person would conceal. And moreover it's
|
| 46 |
+
clear from the story that Crick and Watson's fierce nerdiness was
|
| 47 |
+
integral to their success. Their independent-mindedness caused them
|
| 48 |
+
to consider approaches that most others ignored, their overconfidence
|
| 49 |
+
allowed them to work on problems they only half understood (they
|
| 50 |
+
were literally described as "clowns" by one eminent insider), and
|
| 51 |
+
their impatience and competitiveness got them to the answer ahead
|
| 52 |
+
of two other groups that would otherwise have found it within the
|
| 53 |
+
next year, if not the next several months.
|
| 54 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />The idea that there could be fierce nerds is an unfamiliar one not
|
| 55 |
+
just to many normal people but even to some young nerds. Especially
|
| 56 |
+
early on, nerds spend so much of their time in ordinary social
|
| 57 |
+
situations and so little doing real work that they get a lot more
|
| 58 |
+
evidence of their awkwardness than their power. So there will be
|
| 59 |
+
some who read this description of the fierce nerd and realize "Hmm,
|
| 60 |
+
that's me." And it is to you, young fierce nerd, that I now turn.<br /><br />I have some good news, and some bad news. The good news is that
|
| 61 |
+
your fierceness will be a great help in solving difficult problems.
|
| 62 |
+
And not just the kind of scientific and technical problems that
|
| 63 |
+
nerds have traditionally solved. As the world progresses, the number
|
| 64 |
+
of things you can win at by getting the right answer increases.
|
| 65 |
+
Recently <a href="richnow.html"><u>getting rich</u></a> became
|
| 66 |
+
one of them: 7 of the 8 richest people
|
| 67 |
+
in America are now fierce nerds.<br /><br />Indeed, being a fierce nerd is probably even more helpful in business
|
| 68 |
+
than in nerds' original territory of scholarship. Fierceness seems
|
| 69 |
+
optional there. Darwin for example doesn't seem to have been
|
| 70 |
+
especially fierce. Whereas it's impossible to be the CEO of a company
|
| 71 |
+
over a certain size without being fierce, so now that nerds can win
|
| 72 |
+
at business, fierce nerds will increasingly monopolize the really
|
| 73 |
+
big successes.<br /><br />The bad news is that if it's not exercised, your fierceness will
|
| 74 |
+
turn to bitterness, and you will become an intellectual playground
|
| 75 |
+
bully: the grumpy sysadmin, the forum troll, the
|
| 76 |
+
<a href="fh.html"><u>hater</u></a>, the shooter
|
| 77 |
+
down of <a href="newideas.html"><u>new ideas</u></a>.<br /><br />How do you avoid this fate? Work on ambitious projects. If you
|
| 78 |
+
succeed, it will bring you a kind of satisfaction that neutralizes
|
| 79 |
+
bitterness. But you don't need to have succeeded to feel this;
|
| 80 |
+
merely working on hard projects gives most fierce nerds some
|
| 81 |
+
feeling of satisfaction. And those it doesn't, it at least keeps
|
| 82 |
+
busy.
|
| 83 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font><br /><br />Another solution may be to somehow turn off your fierceness, by
|
| 84 |
+
devoting yourself to meditation or psychotherapy or something like
|
| 85 |
+
that. Maybe that's the right answer for some people. I have no idea.
|
| 86 |
+
But it doesn't seem the optimal solution to me. If you're given a
|
| 87 |
+
sharp knife, it seems to me better to use it than to blunt its edge
|
| 88 |
+
to avoid cutting yourself.<br /><br />If you do choose the ambitious route, you'll have a tailwind behind
|
| 89 |
+
you. There has never been a better time to be a nerd. In the past
|
| 90 |
+
century we've seen a continuous transfer of power from dealmakers
|
| 91 |
+
to technicians — from the charismatic to the competent — and I
|
| 92 |
+
don't see anything on the horizon that will end it. At least not
|
| 93 |
+
till the nerds end it themselves by bringing about the singularity.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 94 |
+
To be a nerd is to be socially awkward, and there are two
|
| 95 |
+
distinct ways to do that: to be playing the same game as everyone
|
| 96 |
+
else, but badly, and to be playing a different game. The smart nerds
|
| 97 |
+
are the latter type.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 98 |
+
The same qualities that make fierce nerds so effective can
|
| 99 |
+
also make them very annoying. Fierce nerds would do well to remember
|
| 100 |
+
this, and (a) try to keep a lid on it, and (b) seek out organizations
|
| 101 |
+
and types of work where getting the right answer matters more than
|
| 102 |
+
preserving social harmony. In practice that means small groups
|
| 103 |
+
working on hard problems. Which fortunately is the most fun kind
|
| 104 |
+
of environment anyway.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 105 |
+
If success neutralizes bitterness, why are there some people
|
| 106 |
+
who are at least moderately successful and yet still quite bitter?
|
| 107 |
+
Because people's potential bitterness varies depending on how
|
| 108 |
+
naturally bitter their personality is, and how ambitious they are:
|
| 109 |
+
someone who's naturally very bitter will still have a lot left after
|
| 110 |
+
success neutralizes some of it, and someone who's very ambitious
|
| 111 |
+
will need proportionally more success to satisfy that ambition.<br /><br />So the worst-case scenario is someone who's both naturally bitter
|
| 112 |
+
and extremely ambitious, and yet only moderately successful.<br /><br /><br /><br />
|
| 113 |
+
<b>Thanks</b> to Trevor Blackwell, Steve Blank, Patrick Collison, Jessica
|
| 114 |
+
Livingston, Amjad Masad, and Robert Morris for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://xueqiu.com/6663886898/188768282">Chinese Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/foundermode.html
ADDED
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|
| 1 |
+
<html><head><meta name="Keywords" content="" /><title>Founder Mode</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/bel-6.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1806066d4a82e49><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/bel-7.gif" width="69" height="357" usemap=#1806066d4a82e49 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/bel-8.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/founder-mode-1.gif" width="118" height="18" border="0" hspace="0" vspace="0" alt="Founder Mode" /><br /><br /><font size="2" face="verdana">September 2024<br /><br />At a YC event last week Brian Chesky gave a talk that everyone who
|
| 4 |
+
was there will remember. Most founders I talked to afterward said
|
| 5 |
+
it was the best they'd ever heard. Ron Conway, for the first time
|
| 6 |
+
in his life, forgot to take notes. I'm not going to try to reproduce
|
| 7 |
+
it here. Instead I want to talk about a question it raised.<br /><br />The theme of Brian's talk was that the conventional wisdom about
|
| 8 |
+
how to run larger companies is mistaken. As Airbnb grew, well-meaning
|
| 9 |
+
people advised him that he had to run the company in a certain way
|
| 10 |
+
for it to scale. Their advice could be optimistically summarized
|
| 11 |
+
as "hire good people and give them room to do their jobs." He
|
| 12 |
+
followed this advice and the results were disastrous. So he had to
|
| 13 |
+
figure out a better way on his own, which he did partly by studying
|
| 14 |
+
how Steve Jobs ran Apple. So far it seems to be working. Airbnb's
|
| 15 |
+
free cash flow margin is now among the best in Silicon Valley.<br /><br />The audience at this event included a lot of the most successful
|
| 16 |
+
founders we've funded, and one after another said that the same
|
| 17 |
+
thing had happened to them. They'd been given the same advice about
|
| 18 |
+
how to run their companies as they grew, but instead of helping
|
| 19 |
+
their companies, it had damaged them.<br /><br />Why was everyone telling these founders the wrong thing? That was
|
| 20 |
+
the big mystery to me. And after mulling it over for a bit I figured
|
| 21 |
+
out the answer: what they were being told was how to run a company
|
| 22 |
+
you hadn't founded — how to run a company if you're merely a
|
| 23 |
+
professional manager. But this m.o. is so much less effective that
|
| 24 |
+
to founders it feels broken. There are things founders can do that
|
| 25 |
+
managers can't, and not doing them feels wrong to founders, because
|
| 26 |
+
it is.<br /><br />In effect there are two different ways to run a company: founder
|
| 27 |
+
mode and manager mode. Till now most people even in Silicon Valley
|
| 28 |
+
have implicitly assumed that scaling a startup meant switching to
|
| 29 |
+
manager mode. But we can infer the existence of another mode from
|
| 30 |
+
the dismay of founders who've tried it, and the success of their
|
| 31 |
+
attempts to escape from it.<br /><br />There are as far as I know no books specifically about founder mode.
|
| 32 |
+
Business schools don't know it exists. All we have so far are the
|
| 33 |
+
experiments of individual founders who've been figuring it out for
|
| 34 |
+
themselves. But now that we know what we're looking for, we can
|
| 35 |
+
search for it. I hope in a few years founder mode will be as well
|
| 36 |
+
understood as manager mode. We can already guess at some of the
|
| 37 |
+
ways it will differ.<br /><br />The way managers are taught to run companies seems to be like modular
|
| 38 |
+
design in the sense that you treat subtrees of the org chart as
|
| 39 |
+
black boxes. You tell your direct reports what to do, and it's up
|
| 40 |
+
to them to figure out how. But you don't get involved in the details
|
| 41 |
+
of what they do. That would be micromanaging them, which is bad.<br /><br />Hire good people and give them room to do their jobs. Sounds great
|
| 42 |
+
when it's described that way, doesn't it? Except in practice, judging
|
| 43 |
+
from the report of founder after founder, what this often turns out
|
| 44 |
+
to mean is: hire professional fakers and let them drive the company
|
| 45 |
+
into the ground.<br /><br />One theme I noticed both in Brian's talk and when talking to founders
|
| 46 |
+
afterward was the idea of being gaslit. Founders feel like they're
|
| 47 |
+
being gaslit from both sides — by the people telling them they
|
| 48 |
+
have to run their companies like managers, and by the people working
|
| 49 |
+
for them when they do. Usually when everyone around you disagrees
|
| 50 |
+
with you, your default assumption should be that you're mistaken.
|
| 51 |
+
But this is one of the rare exceptions. VCs who haven't been founders
|
| 52 |
+
themselves don't know how founders should run companies, and C-level
|
| 53 |
+
execs, as a class, include some of the most skillful liars in the
|
| 54 |
+
world.
|
| 55 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />Whatever founder mode consists of, it's pretty clear that it's going
|
| 56 |
+
to break the principle that the CEO should engage with the company
|
| 57 |
+
only via his or her direct reports. "Skip-level" meetings will
|
| 58 |
+
become the norm instead of a practice so unusual that there's a
|
| 59 |
+
name for it. And once you abandon that constraint there are a huge
|
| 60 |
+
number of permutations to choose from.<br /><br />For example, Steve Jobs used to run an annual retreat for what he
|
| 61 |
+
considered the 100 most important people at Apple, and these were
|
| 62 |
+
not the 100 people highest on the org chart. Can you imagine the
|
| 63 |
+
force of will it would take to do this at the average company? And
|
| 64 |
+
yet imagine how useful such a thing could be. It could make a big
|
| 65 |
+
company feel like a startup. Steve presumably wouldn't have kept
|
| 66 |
+
having these retreats if they didn't work. But I've never heard of
|
| 67 |
+
another company doing this. So is it a good idea, or a bad one? We
|
| 68 |
+
still don't know. That's how little we know about founder mode.
|
| 69 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />Obviously founders can't keep running a 2000 person company the way
|
| 70 |
+
they ran it when it had 20. There's going to have to be some amount
|
| 71 |
+
of delegation. Where the borders of autonomy end up, and how sharp
|
| 72 |
+
they are, will probably vary from company to company. They'll even
|
| 73 |
+
vary from time to time within the same company, as managers earn
|
| 74 |
+
trust. So founder mode will be more complicated than manager mode.
|
| 75 |
+
But it will also work better. We already know that from the examples
|
| 76 |
+
of individual founders groping their way toward it.<br /><br />Indeed, another prediction I'll make about founder mode is that
|
| 77 |
+
once we figure out what it is, we'll find that a number of individual
|
| 78 |
+
founders were already most of the way there — except that in doing
|
| 79 |
+
what they did they were regarded by many as eccentric or worse.
|
| 80 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font><br /><br />Curiously enough it's an encouraging thought that we still know so
|
| 81 |
+
little about founder mode. Look at what founders have achieved
|
| 82 |
+
already, and yet they've achieved this against a headwind of bad
|
| 83 |
+
advice. Imagine what they'll do once we can tell them how to run
|
| 84 |
+
their companies like Steve Jobs instead of John Sculley.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 85 |
+
The more diplomatic way of phrasing this statement would be
|
| 86 |
+
to say that experienced C-level execs are often very skilled at
|
| 87 |
+
managing up. And I don't think anyone with knowledge of this world
|
| 88 |
+
would dispute that.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 89 |
+
If the practice of having such retreats became so widespread
|
| 90 |
+
that even mature companies dominated by politics started to do it,
|
| 91 |
+
we could quantify the senescence of companies by the average depth
|
| 92 |
+
on the org chart of those invited.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 93 |
+
I also have another less optimistic prediction: as soon as
|
| 94 |
+
the concept of founder mode becomes established, people will start
|
| 95 |
+
misusing it. Founders who are unable to delegate even things they
|
| 96 |
+
should will use founder mode as the excuse. Or managers who aren't
|
| 97 |
+
founders will decide they should try to act like founders. That may
|
| 98 |
+
even work, to some extent, but the results will be messy when it
|
| 99 |
+
doesn't; the modular approach does at least limit the damage a bad
|
| 100 |
+
CEO can do.<br /><br /><br /><br /><font color="888888"><b>Thanks</b> to Brian Chesky, Patrick Collison,
|
| 101 |
+
Ron Conway, Jessica
|
| 102 |
+
Livingston, Elon Musk, Ryan Petersen, Harj Taggar, and Garry Tan
|
| 103 |
+
for reading drafts of this.</font><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 104 |
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|
| 106 |
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| 107 |
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</script>
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| 108 |
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| 109 |
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<script type="text/javascript">
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| 110 |
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function toOSTN(node){
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| 111 |
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| 112 |
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for (const attr of node.attributes) {
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| 113 |
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node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
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| 114 |
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}
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| 115 |
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}
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| 116 |
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};
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| 117 |
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document.addEventListener('readystatechange', event => {
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if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
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| 127 |
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</script>
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| 128 |
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<script type="text/javascript">
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| 129 |
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// Begin Store Generated Code
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</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
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</script>
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| 132 |
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<script type="text/javascript">
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// Begin Store Generated Code
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| 134 |
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csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
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| 135 |
+
</script>
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| 136 |
+
<script type="text/javascript">
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| 137 |
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// Begin Store Generated Code
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| 138 |
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function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'foundermode'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
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| 139 |
+
</script>
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| 140 |
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<script type="text/javascript">
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// Begin Store Generated Code
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| 142 |
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function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 143 |
+
</script>
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| 144 |
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<script type="text/javascript">
|
| 145 |
+
// Begin Store Generated Code
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| 146 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=foundermode&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
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</script>
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</html>
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| 149 |
+
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/founders.html
ADDED
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|
| 1 |
+
<html><head><title>What We Look for in Founders</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc71><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc71 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/what-we-look-for-in-founders-2.gif" width="248" height="18" border="0" hspace="0" vspace="0" alt="What We Look for in Founders" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
October 2010
|
| 14 |
+
<p>
|
| 15 |
+
<i>(I wrote this for Forbes, who asked me to write something
|
| 16 |
+
about the qualities we look for in founders. In print they had to cut
|
| 17 |
+
the last item because they didn't have room.)</i><br /><br /><b>1. Determination</b><br /><br />This has turned out to be the most important quality in startup
|
| 18 |
+
founders. We thought when we started Y Combinator that the most
|
| 19 |
+
important quality would be intelligence. That's the myth in the
|
| 20 |
+
Valley. And certainly you don't want founders to be stupid. But
|
| 21 |
+
as long as you're over a certain threshold of intelligence, what
|
| 22 |
+
matters most is determination. You're going to hit a lot of
|
| 23 |
+
obstacles. You can't be the sort of person who gets <a href="die.html">demoralized</a>
|
| 24 |
+
easily.<br /><br />Bill Clerico and Rich Aberman of <a href="http://wepay.com">WePay</a>
|
| 25 |
+
are a good example. They're
|
| 26 |
+
doing a finance startup, which means endless negotiations with big,
|
| 27 |
+
bureaucratic companies. When you're starting a startup that depends
|
| 28 |
+
on deals with big companies to exist, it often feels like they're
|
| 29 |
+
trying to ignore you out of existence. But when Bill Clerico starts
|
| 30 |
+
calling you, you may as well do what he asks, because he is not
|
| 31 |
+
going away.<br /><br />
|
| 32 |
+
<b>2. Flexibility</b><br /><br />You do not however want the sort of determination implied by phrases
|
| 33 |
+
like "don't give up on your dreams." The world of startups is so
|
| 34 |
+
unpredictable that you need to be able to modify your dreams on the
|
| 35 |
+
fly. The best metaphor I've found for the combination of determination
|
| 36 |
+
and flexibility you need is a <a href="relres.html">running back</a>.
|
| 37 |
+
He's determined to get
|
| 38 |
+
downfield, but at any given moment he may need to go sideways or
|
| 39 |
+
even backwards to get there.<br /><br />The current record holder for flexibility may be Daniel Gross of
|
| 40 |
+
<a href="http://greplin.com">Greplin</a>. He applied to YC with
|
| 41 |
+
some bad ecommerce idea. We told
|
| 42 |
+
him we'd fund him if he did something else. He thought for a second,
|
| 43 |
+
and said ok. He then went through two more ideas before settling
|
| 44 |
+
on Greplin. He'd only been working on it for a couple days when
|
| 45 |
+
he presented to investors at Demo Day, but he got a lot of interest.
|
| 46 |
+
He always seems to land on his feet.<br /><br />
|
| 47 |
+
<b>3. Imagination</b><br /><br />Intelligence does matter a lot of course. It seems like the type
|
| 48 |
+
that matters most is imagination. It's not so important to be able
|
| 49 |
+
to solve predefined problems quickly as to be able to come up with
|
| 50 |
+
surprising new ideas. In the startup world, most good ideas
|
| 51 |
+
<a href="googles.html">seem
|
| 52 |
+
bad</a> initially. If they were obviously good, someone would already
|
| 53 |
+
be doing them. So you need the kind of intelligence that produces
|
| 54 |
+
ideas with just the right level of craziness.<br /><br /><a href="http://airbnb.com">Airbnb</a> is that kind of idea.
|
| 55 |
+
In fact, when we funded Airbnb, we
|
| 56 |
+
thought it was too crazy. We couldn't believe large numbers of
|
| 57 |
+
people would want to stay in other people's places. We funded them
|
| 58 |
+
because we liked the founders so much. As soon as we heard they'd
|
| 59 |
+
been supporting themselves by selling Obama and McCain branded
|
| 60 |
+
breakfast cereal, they were in. And it turned out the idea was on
|
| 61 |
+
the right side of crazy after all.<br /><br />
|
| 62 |
+
<b>4. Naughtiness</b><br /><br />Though the most successful founders are usually good people, they
|
| 63 |
+
tend to have a piratical gleam in their eye. They're not Goody
|
| 64 |
+
Two-Shoes type good. Morally, they care about getting the big
|
| 65 |
+
questions right, but not about observing proprieties. That's why
|
| 66 |
+
I'd use the word naughty rather than evil. They delight in
|
| 67 |
+
<a href="gba.html">breaking
|
| 68 |
+
rules</a>, but not rules that matter. This quality may be redundant
|
| 69 |
+
though; it may be implied by imagination.<br /><br />Sam Altman of <a href="http://loopt.com">Loopt</a>
|
| 70 |
+
is one of the most successful alumni, so we
|
| 71 |
+
asked him what question we could put on the Y Combinator application
|
| 72 |
+
that would help us discover more people like him. He said to ask
|
| 73 |
+
about a time when they'd hacked something to their advantage—hacked in the sense of beating the system, not breaking into
|
| 74 |
+
computers. It has become one of the questions we pay most attention
|
| 75 |
+
to when judging applications.<br /><br />
|
| 76 |
+
<b>5. Friendship</b><br /><br />Empirically it seems to be hard to start a startup with just
|
| 77 |
+
<a href="startupmistakes.html">one
|
| 78 |
+
founder</a>. Most of the big successes have two or three. And the
|
| 79 |
+
relationship between the founders has to be strong. They must
|
| 80 |
+
genuinely like one another, and work well together. Startups do
|
| 81 |
+
to the relationship between the founders what a dog does to a sock:
|
| 82 |
+
if it can be pulled apart, it will be.<br /><br />Emmett Shear and Justin Kan of <a href="http://justin.tv">Justin.tv</a>
|
| 83 |
+
are a good example of close
|
| 84 |
+
friends who work well together. They've known each other since
|
| 85 |
+
second grade. They can practically read one another's minds. I'm
|
| 86 |
+
sure they argue, like all founders, but I have never once sensed
|
| 87 |
+
any unresolved tension between them.<br /><br /><br /><br /><br /><br /><br /><br /><b>Thanks</b> to Jessica Livingston and Chris Steiner for reading drafts of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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<script type="text/javascript">
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<script type="text/javascript">
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// Begin Store Generated Code
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</script>
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<script type="text/javascript">
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+
// Begin Store Generated Code
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|
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|
| 132 |
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</html>
|
| 133 |
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/fp.html
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| 1 |
+
<html><head><title>Fashionable Problems</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebcb9><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebcb9 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/fashionable-problems-4.gif" width="182" height="18" border="0" hspace="0" vspace="0" alt="Fashionable Problems" /><br /><br /><font size="2" face="verdana">December 2019<br /><br />I've seen the same pattern in many different fields: even though
|
| 4 |
+
lots of people have worked hard in the field, only a small fraction
|
| 5 |
+
of the space of possibilities has been explored, because they've
|
| 6 |
+
all worked on similar things.<br /><br />Even the smartest, most imaginative people are surprisingly
|
| 7 |
+
conservative when deciding what to work on. People who would never
|
| 8 |
+
dream of being fashionable in any other way get sucked into working
|
| 9 |
+
on fashionable problems.<br /><br />If you want to try working on unfashionable problems, one of the
|
| 10 |
+
best places to look is in fields that people think have already been
|
| 11 |
+
fully explored: essays, Lisp, venture funding � you may notice a
|
| 12 |
+
pattern here. If you can find a new approach into a big but apparently
|
| 13 |
+
played out field, the value of whatever you discover will be
|
| 14 |
+
<a href="sun.html"><u>multiplied</u></a> by its enormous surface area.<br /><br />The best protection against getting drawn into working on the same
|
| 15 |
+
things as everyone else may be to <a href="genius.html"><u>genuinely
|
| 16 |
+
love</u></a> what you're doing.
|
| 17 |
+
Then you'll continue to work on it even if you make the same mistake
|
| 18 |
+
as other people and think that it's too marginal to matter.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://note.com/tokyojack/n/n2cd5fc7b8eeb">Japanese Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://tldrarabiccontents.blogspot.com/2020/01/blog-post_73.html">Arabic Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://corrigan2.blogspot.com/p/problemes-la-mode-paul-graham.html">French Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 19 |
+
<script type="text/javascript">
|
| 20 |
+
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| 23 |
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| 24 |
+
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|
| 25 |
+
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|
| 26 |
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| 27 |
+
for (const attr of node.attributes) {
|
| 28 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 29 |
+
}
|
| 30 |
+
}
|
| 31 |
+
};
|
| 32 |
+
document.addEventListener('readystatechange', event => {
|
| 33 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 34 |
+
if (event.target.readyState === "interactive") {
|
| 35 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 36 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 37 |
+
toOSTN(fromOSYN[i]);
|
| 38 |
+
}
|
| 39 |
+
}
|
| 40 |
+
}
|
| 41 |
+
});
|
| 42 |
+
</script>
|
| 43 |
+
<script type="text/javascript">
|
| 44 |
+
// Begin Store Generated Code
|
| 45 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 46 |
+
</script>
|
| 47 |
+
<script type="text/javascript">
|
| 48 |
+
// Begin Store Generated Code
|
| 49 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 50 |
+
</script>
|
| 51 |
+
<script type="text/javascript">
|
| 52 |
+
// Begin Store Generated Code
|
| 53 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'fp'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 54 |
+
</script>
|
| 55 |
+
<script type="text/javascript">
|
| 56 |
+
// Begin Store Generated Code
|
| 57 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 58 |
+
</script>
|
| 59 |
+
<script type="text/javascript">
|
| 60 |
+
// Begin Store Generated Code
|
| 61 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=fp&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 62 |
+
</script>
|
| 63 |
+
</html>
|
| 64 |
+
<!-- html111.prod.store.e1b.lumsb.com Sun Aug 24 02:50:43 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/fr.html
ADDED
|
@@ -0,0 +1,975 @@
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|
| 1 |
+
<html><head><title>How to Raise Money</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebce1><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebce1 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-raise-money-4.gif" width="165" height="18" border="0" hspace="0" vspace="0" alt="How to Raise Money" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
September 2013<br /><br />Most startups that raise money do it more than once. A typical
|
| 14 |
+
trajectory might be (1) to get started with a few tens of thousands
|
| 15 |
+
from something like Y Combinator or individual angels, then
|
| 16 |
+
(2) raise a few hundred thousand to a few million to build the company,
|
| 17 |
+
and then (3) once the company is clearly succeeding, raise one or
|
| 18 |
+
more later rounds to accelerate growth.<br /><br />Reality can be messier. Some companies raise money twice in phase
|
| 19 |
+
2. Others skip phase 1 and go straight to phase 2. And at Y Combinator
|
| 20 |
+
we get an increasing number of companies that have already
|
| 21 |
+
raised amounts in the hundreds of thousands. But the three phase
|
| 22 |
+
path is at least the one about which individual startups' paths
|
| 23 |
+
oscillate.<br /><br />This essay focuses on phase 2 fundraising. That's the type the
|
| 24 |
+
startups we fund are doing on Demo Day, and this essay is the advice
|
| 25 |
+
we give them.<br /><br />
|
| 26 |
+
<b>Forces</b><br /><br />Fundraising is hard in both senses: hard like lifting a heavy weight,
|
| 27 |
+
and hard like solving a puzzle. It's hard like lifting a weight
|
| 28 |
+
because it's intrinsically hard to convince people to part with
|
| 29 |
+
large sums of money. That problem is irreducible; it should be
|
| 30 |
+
hard. But much of the other kind of difficulty can be eliminated.
|
| 31 |
+
Fundraising only seems a puzzle because it's an alien world to most
|
| 32 |
+
founders, and I hope to fix that by supplying a map through it.<br /><br />To founders, the behavior of investors is often opaque — partly
|
| 33 |
+
because their motivations are obscure, but partly because they
|
| 34 |
+
deliberately mislead you. And the misleading ways of investors
|
| 35 |
+
combine horribly with the wishful thinking of inexperienced founders.
|
| 36 |
+
At YC we're always warning founders about this danger, and investors
|
| 37 |
+
are probably more circumspect with YC startups than with other
|
| 38 |
+
companies they talk to, and even so we witness a constant series
|
| 39 |
+
of explosions as these two volatile components combine.
|
| 40 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />If you're an inexperienced founder, the only way to survive is by
|
| 41 |
+
imposing external constraints on yourself. You can't trust your
|
| 42 |
+
intuitions. I'm going to give you a set of rules here that will
|
| 43 |
+
get you through this process if anything will. At certain moments
|
| 44 |
+
you'll be tempted to ignore them. So rule number zero is: these
|
| 45 |
+
rules exist for a reason. You wouldn't need a rule to keep you
|
| 46 |
+
going in one direction if there weren't powerful forces pushing you
|
| 47 |
+
in another.<br /><br />The ultimate source of the forces acting on you are the forces
|
| 48 |
+
acting on investors. Investors are pinched between two kinds of
|
| 49 |
+
fear: fear of investing in startups that fizzle, and fear of missing
|
| 50 |
+
out on startups that take off. The cause of all this fear is the
|
| 51 |
+
very thing that makes startups such attractive investments: the
|
| 52 |
+
successful ones grow very fast. But that fast growth means investors
|
| 53 |
+
can't wait around. If you wait till a startup is obviously a
|
| 54 |
+
success, it's too late. To get the really high returns, you have
|
| 55 |
+
to invest in startups when it's still unclear how they'll do. But
|
| 56 |
+
that in turn makes investors nervous they're about to invest in a
|
| 57 |
+
flop. As indeed they often are.<br /><br />What investors would like to do, if they could, is wait. When a
|
| 58 |
+
startup is only a few months old, every week that passes gives you
|
| 59 |
+
significantly more information about them. But if you wait too
|
| 60 |
+
long, other investors might take the deal away from you. And of
|
| 61 |
+
course the other investors are all subject to the same forces. So
|
| 62 |
+
what tends to happen is that they all wait as long as they can,
|
| 63 |
+
then when some act the rest have to.<br /><br />
|
| 64 |
+
<b>Don't raise money unless you want it and it wants you.</b><br /><br />Such a high proportion of successful startups raise money that it
|
| 65 |
+
might seem fundraising is one of the defining qualities of a startup.
|
| 66 |
+
Actually it isn't. <a href="growth.html">Rapid growth</a> is what
|
| 67 |
+
makes a company a startup. Most companies in a position to grow
|
| 68 |
+
rapidly find that (a) taking outside money helps them grow faster,
|
| 69 |
+
and (b) their growth potential makes it easy to attract such money.
|
| 70 |
+
It's so common for both (a) and (b) to be true of a successful
|
| 71 |
+
startup that practically all do raise outside money. But there may
|
| 72 |
+
be cases where a startup either wouldn't want to grow faster, or
|
| 73 |
+
outside money wouldn't help them to, and if you're one of them,
|
| 74 |
+
don't raise money.<br /><br />The other time not to raise money is when you won't be able to. If
|
| 75 |
+
you try to raise money before you can <a href="convince.html">convince</a>
|
| 76 |
+
investors, you'll not only waste your time, but also burn your
|
| 77 |
+
reputation with those investors.<br /><br />
|
| 78 |
+
<b>Be in fundraising mode or not.</b><br /><br />One of the things that surprises founders most about fundraising
|
| 79 |
+
is how distracting it is. When you start fundraising, everything
|
| 80 |
+
else grinds to a halt. The problem is not the time fundraising
|
| 81 |
+
consumes but that it becomes the <a href="top.html">top idea in
|
| 82 |
+
your mind</a>. A startup can't endure that level of distraction
|
| 83 |
+
for long. An early stage startup grows mostly because the founders
|
| 84 |
+
<a href="ds.html">make</a> it grow, and if the founders look away,
|
| 85 |
+
growth usually drops sharply.<br /><br />Because fundraising is so distracting, a startup should either be
|
| 86 |
+
in fundraising mode or not. And when you do decide to raise money,
|
| 87 |
+
you should focus your whole attention on it so you can get it done
|
| 88 |
+
quickly and get back to work.
|
| 89 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br />You can take money from investors when you're not in fundraising
|
| 90 |
+
mode. You just can't expend any attention on it. There are two
|
| 91 |
+
things that take attention: convincing investors, and negotiating
|
| 92 |
+
with them. So when you're not in fundraising mode, you should take
|
| 93 |
+
money from investors only if they require no convincing, and are
|
| 94 |
+
willing to invest on terms you'll take without negotiation. For
|
| 95 |
+
example, if a reputable investor is willing to invest on a convertible
|
| 96 |
+
note, using standard paperwork, that is either uncapped or capped
|
| 97 |
+
at a good valuation, you can take that without having to think.
|
| 98 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font>
|
| 99 |
+
The terms will be whatever they turn out to be in your next
|
| 100 |
+
equity round. And "no convincing" means just that: zero time spent
|
| 101 |
+
meeting with investors or preparing materials for them. If an
|
| 102 |
+
investor says they're ready to invest, but they need you to come
|
| 103 |
+
in for one meeting to meet some of the partners, tell them no, if
|
| 104 |
+
you're not in fundraising mode, because that's fundraising.
|
| 105 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font>
|
| 106 |
+
Tell them politely; tell them you're focusing on the company right
|
| 107 |
+
now, and that you'll get back to them when you're fundraising; but
|
| 108 |
+
do not get sucked down the slippery slope.<br /><br />Investors will try to lure you into fundraising when you're not.
|
| 109 |
+
It's great for them if they can, because they can thereby get a
|
| 110 |
+
shot at you before everyone else. They'll send you emails saying
|
| 111 |
+
they want to meet to learn more about you. If you get cold-emailed
|
| 112 |
+
by an associate at a VC firm, you shouldn't meet even if you are
|
| 113 |
+
in fundraising mode. Deals don't happen that way.
|
| 114 |
+
<font color=#999999>[<a href="#f5n"><font color=#999999>5</font></a>]</font>
|
| 115 |
+
But even
|
| 116 |
+
if you get an email from a partner you should try to delay meeting
|
| 117 |
+
till you're in fundraising mode. They may say they just want to
|
| 118 |
+
meet and chat, but investors never just want to meet and chat. What
|
| 119 |
+
if they like you? What if they start to talk about giving you
|
| 120 |
+
money? Will you be able to resist having that conversation? Unless
|
| 121 |
+
you're experienced enough at fundraising to have a casual conversation
|
| 122 |
+
with investors that stays casual, it's safer to tell them that you'd
|
| 123 |
+
be happy to later, when you're fundraising, but that right now you
|
| 124 |
+
need to focus on the company.
|
| 125 |
+
<font color=#999999>[<a href="#f6n"><font color=#999999>6</font></a>]</font><br /><br />Companies that are successful at raising money in phase 2 sometimes
|
| 126 |
+
tack on a few investors after leaving fundraising mode. This is
|
| 127 |
+
fine; if fundraising went well, you'll be able to do it without
|
| 128 |
+
spending time convincing them or negotiating about terms.<br /><br />
|
| 129 |
+
<b>Get introductions to investors.</b><br /><br />Before you can talk to investors, you have to be introduced to them.
|
| 130 |
+
If you're presenting at a Demo Day, you'll be introduced to a whole
|
| 131 |
+
bunch simultaneously. But even if you are, you should supplement
|
| 132 |
+
these with intros you collect yourself.<br /><br />Do you have to be introduced? In phase 2, yes. Some investors
|
| 133 |
+
will let you email them a business plan, but you can tell from the
|
| 134 |
+
way their sites are organized that they don't really want startups
|
| 135 |
+
to approach them directly.<br /><br />Intros vary greatly in effectiveness. The best type of intro is
|
| 136 |
+
from a well-known investor who has just invested in you. So when
|
| 137 |
+
you get an investor to commit, ask them to introduce you to other
|
| 138 |
+
investors they respect.
|
| 139 |
+
<font color=#999999>[<a href="#f7n"><font color=#999999>7</font></a>]</font>
|
| 140 |
+
The next best type of intro is from a
|
| 141 |
+
founder of a company they've funded. You can also get intros from
|
| 142 |
+
other people in the startup community, like lawyers and reporters.<br /><br />There are now sites like AngelList, FundersClub, and WeFunder that
|
| 143 |
+
can introduce you to investors. We recommend startups treat them
|
| 144 |
+
as auxiliary sources of money. Raise money first from leads you
|
| 145 |
+
get yourself. Those will on average be better investors. Plus
|
| 146 |
+
you'll have an easier time raising money on these sites once you
|
| 147 |
+
can say you've already raised some from well-known investors.<br /><br />
|
| 148 |
+
<b>Hear no till you hear yes.</b><br /><br />Treat investors as saying no till they unequivocally say yes, in
|
| 149 |
+
the form of a definite offer with no contingencies.<br /><br />I mentioned earlier that investors prefer to wait if they can.
|
| 150 |
+
What's particularly dangerous for founders is the way they wait.
|
| 151 |
+
Essentially, they lead you on. They seem like they're about to
|
| 152 |
+
invest right up till the moment they say no. If they even say no.
|
| 153 |
+
Some of the worse ones never actually do say no; they just stop
|
| 154 |
+
replying to your emails. They hope that way to get a free option
|
| 155 |
+
on investing. If they decide later that they want to invest — usually
|
| 156 |
+
because they've heard you're a hot deal — they can pretend they
|
| 157 |
+
just got distracted and then restart the conversation as if they'd
|
| 158 |
+
been about to.
|
| 159 |
+
<font color=#999999>[<a href="#f8n"><font color=#999999>8</font></a>]</font><br /><br />That's not the worst thing investors will do. Some will use language
|
| 160 |
+
that makes it sound as if they're committing, but which doesn't
|
| 161 |
+
actually commit them. And wishful thinking founders are happy to
|
| 162 |
+
meet them half way.
|
| 163 |
+
<font color=#999999>[<a href="#f9n"><font color=#999999>9</font></a>]</font><br /><br />Fortunately, the next rule is a tactic for neutralizing this behavior.
|
| 164 |
+
But to work it depends on you not being tricked by the no that
|
| 165 |
+
sounds like yes. It's so common for founders to be misled/mistaken
|
| 166 |
+
about this that we designed a <a
|
| 167 |
+
href="http://ycombinator.com/hdp.html">protocol</a> to fix the
|
| 168 |
+
problem. If you believe an investor has committed, get them to
|
| 169 |
+
confirm it. If you and they have different views of reality, whether
|
| 170 |
+
the source of the discrepancy is their sketchiness or your wishful
|
| 171 |
+
thinking, the prospect of confirming a commitment in writing will
|
| 172 |
+
flush it out. And till they confirm, regard them as saying no.<br /><br />
|
| 173 |
+
<b>Do breadth-first search weighted by expected value.</b><br /><br />When you talk to investors your m.o. should be breadth-first search,
|
| 174 |
+
weighted by expected value. You should always talk to investors
|
| 175 |
+
in parallel rather than serially. You can't afford the time it
|
| 176 |
+
takes to talk to investors serially, plus if you only talk to one
|
| 177 |
+
investor at a time, they don't have the pressure of other investors
|
| 178 |
+
to make them act. But you shouldn't pay the same attention to every
|
| 179 |
+
investor, because some are more promising prospects than others.
|
| 180 |
+
The optimal solution is to talk to all potential investors in
|
| 181 |
+
parallel, but give higher priority to the more promising ones.
|
| 182 |
+
<font color=#999999>[<a href="#f10n"><font color=#999999>10</font></a>]</font><br /><br />Expected value = how likely an investor is to say yes, multiplied
|
| 183 |
+
by how good it would be if they did. So for example, an eminent
|
| 184 |
+
investor who would invest a lot, but will be hard to convince, might
|
| 185 |
+
have the same expected value as an obscure angel who won't invest
|
| 186 |
+
much, but will be easy to convince. Whereas an obscure angel who
|
| 187 |
+
will only invest a small amount, and yet needs to meet multiple
|
| 188 |
+
times before making up his mind, has very low expected value. Meet
|
| 189 |
+
such investors last, if at all.
|
| 190 |
+
<font color=#999999>[<a href="#f11n"><font color=#999999>11</font></a>]</font><br /><br />Doing breadth-first search weighted by expected value will save you
|
| 191 |
+
from investors who never explicitly say no but merely drift away,
|
| 192 |
+
because you'll drift away from them at the same rate. It protects
|
| 193 |
+
you from investors who flake in much the same way that a distributed
|
| 194 |
+
algorithm protects you from processors that fail. If some investor
|
| 195 |
+
isn't returning your emails, or wants to have lots of meetings but
|
| 196 |
+
isn't progressing toward making you an offer, you automatically
|
| 197 |
+
focus less on them. But you have to be disciplined about assigning
|
| 198 |
+
probabilities. You can't let how much you want an investor influence
|
| 199 |
+
your estimate of how much they want you.<br /><br />
|
| 200 |
+
<b>Know where you stand.</b><br /><br />How do you judge how well you're doing with an investor, when
|
| 201 |
+
investors habitually seem more positive than they are? By looking
|
| 202 |
+
at their actions rather than their words. Every investor has some
|
| 203 |
+
track they need to move along from the first conversation to wiring
|
| 204 |
+
the money, and you should always know what that track consists of,
|
| 205 |
+
where you are on it, and how fast you're moving forward.<br /><br />Never leave a meeting with an investor without asking what happens
|
| 206 |
+
next. What more do they need in order to decide? Do they need
|
| 207 |
+
another meeting with you? To talk about what? And how soon? Do
|
| 208 |
+
they need to do something internally, like talk to their partners,
|
| 209 |
+
or investigate some issue? How long do they expect it to take?
|
| 210 |
+
Don't be too pushy, but know where you stand. If investors are
|
| 211 |
+
vague or resist answering such questions, assume the worst; investors
|
| 212 |
+
who are seriously interested in you will usually be happy to talk
|
| 213 |
+
about what has to happen between now and wiring the money, because
|
| 214 |
+
they're already running through that in their heads.
|
| 215 |
+
<font color=#999999>[<a href="#f12n"><font color=#999999>12</font></a>]</font><br /><br />If you're experienced at negotiations, you already know how to ask
|
| 216 |
+
such questions.
|
| 217 |
+
<font color=#999999>[<a href="#f13n"><font color=#999999>13</font></a>]</font>
|
| 218 |
+
If you're not, there's a trick you can use
|
| 219 |
+
in this situation. Investors know you're inexperienced at raising
|
| 220 |
+
money. Inexperience there doesn't make you unattractive. Being a
|
| 221 |
+
noob at technology would, if you're starting a technology startup,
|
| 222 |
+
but not being a noob at fundraising. Larry and Sergey were noobs
|
| 223 |
+
at fundraising. So you can just confess that you're inexperienced
|
| 224 |
+
at this and ask how their process works and where you are in it.
|
| 225 |
+
<font color=#999999>[<a href="#f14n"><font color=#999999>14</font></a>]</font><br /><br />
|
| 226 |
+
<b>Get the first commitment.</b><br /><br />The biggest factor in most investors' opinions of you is the opinion
|
| 227 |
+
of <a href="herd.html">other investors</a>. Once you start getting
|
| 228 |
+
investors to commit, it becomes increasingly easy to get more to.
|
| 229 |
+
But the other side of this coin is that it's often hard to get the
|
| 230 |
+
first commitment.<br /><br />Getting the first substantial offer can be half the total difficulty
|
| 231 |
+
of fundraising. What counts as a substantial offer depends on who
|
| 232 |
+
it's from and how much it is. Money from friends and family doesn't
|
| 233 |
+
usually count, no matter how much. But if you get $50k from a well
|
| 234 |
+
known VC firm or angel investor, that will usually be enough to set
|
| 235 |
+
things rolling.
|
| 236 |
+
<font color=#999999>[<a href="#f15n"><font color=#999999>15</font></a>]</font><br /><br />
|
| 237 |
+
<b>Close committed money.</b><br /><br />It's not a deal till the money's in the bank. I often hear
|
| 238 |
+
inexperienced founders say things like "We've raised $800,000,"
|
| 239 |
+
only to discover that zero of it is in the bank so far. Remember
|
| 240 |
+
the twin fears that torment investors? The fear of missing out
|
| 241 |
+
that makes them jump early, and the fear of jumping onto a turd
|
| 242 |
+
that results? This is a market where people are exceptionally prone
|
| 243 |
+
to buyer's remorse. And it's also one that furnishes them plenty
|
| 244 |
+
of excuses to gratify it. The public markets snap startup investing
|
| 245 |
+
around like a whip. If the Chinese economy blows up tomorrow, all
|
| 246 |
+
bets are off. But there are lots of surprises for individual
|
| 247 |
+
startups too, and they tend to be concentrated around fundraising.
|
| 248 |
+
Tomorrow a big competitor could appear, or you could get C&Ded, or
|
| 249 |
+
your cofounder could quit.
|
| 250 |
+
<font color=#999999>[<a href="#f16n"><font color=#999999>16</font></a>]</font><br /><br />Even a day's delay can bring news that causes an investor to change
|
| 251 |
+
their mind. So when someone commits, get the money. Knowing where
|
| 252 |
+
you stand doesn't end when they say they'll invest. After they say
|
| 253 |
+
yes, know what the timetable is for getting the money, and then
|
| 254 |
+
babysit that process till it happens. Institutional investors have
|
| 255 |
+
people in charge of wiring money, but you may have to hunt angels
|
| 256 |
+
down in person to collect a check.<br /><br />Inexperienced investors are the ones most likely to get buyer's
|
| 257 |
+
remorse. Established ones have learned to treat saying yes as like
|
| 258 |
+
diving off a diving board, and they also have more brand to preserve.
|
| 259 |
+
But I've heard of cases of even top-tier VC firms welching on deals.<br /><br />
|
| 260 |
+
<b>Avoid investors who don't "lead."</b><br /><br />Since getting the first offer is most of the difficulty of fundraising,
|
| 261 |
+
that should be part of your calculation of expected value when you
|
| 262 |
+
start. You have to estimate not just the probability that an
|
| 263 |
+
investor will say yes, but the probability that they'd be the <i>first</i>
|
| 264 |
+
to say yes, and the latter is not simply a constant fraction of the
|
| 265 |
+
former. Some investors are known for deciding quickly, and those
|
| 266 |
+
are extra valuable early on.<br /><br />Conversely, an investor who will only invest once other investors
|
| 267 |
+
have is worthless initially. And while most investors are influenced
|
| 268 |
+
by how interested other investors are in you, there are some who
|
| 269 |
+
have an explicit policy of only investing after other investors
|
| 270 |
+
have. You can recognize this contemptible subspecies of investor
|
| 271 |
+
because they often talk about "leads." They say that they don't
|
| 272 |
+
lead, or that they'll invest once you have a lead. Sometimes they
|
| 273 |
+
even claim to be willing to lead themselves, by which they mean
|
| 274 |
+
they won't invest till you get $x from other investors. (It's great
|
| 275 |
+
if by "lead" they mean they'll invest unilaterally, and in addition
|
| 276 |
+
will help you raise more. What's lame is when they use the term
|
| 277 |
+
to mean they won't invest unless you can raise more elsewhere.)
|
| 278 |
+
<font color=#999999>[<a href="#f17n"><font color=#999999>17</font></a>]</font><br /><br />Where does this term "lead" come from? Up till a few years ago,
|
| 279 |
+
startups raising money in phase 2 would usually raise equity rounds
|
| 280 |
+
in which several investors invested at the same time using the same
|
| 281 |
+
paperwork. You'd negotiate the terms with one "lead" investor, and
|
| 282 |
+
then all the others would sign the same documents and all the money
|
| 283 |
+
change hands at the closing.<br /><br />Series A rounds still work that way, but things now work differently
|
| 284 |
+
for most fundraising prior to the series A. Now there are rarely
|
| 285 |
+
actual rounds before the A round, or leads for them. Now startups
|
| 286 |
+
simply raise money from investors one at a time till they feel they
|
| 287 |
+
have enough.<br /><br />Since there are no longer leads, why do investors use that term?
|
| 288 |
+
Because it's a more legitimate-sounding way of saying what they
|
| 289 |
+
really mean. All they really mean is that their interest in you
|
| 290 |
+
is a function of other investors' interest in you. I.e. the spectral
|
| 291 |
+
signature of all mediocre investors. But when phrased in terms of
|
| 292 |
+
leads, it sounds like there is something structural and therefore
|
| 293 |
+
legitimate about their behavior.<br /><br />When an investor tells you "I want to invest in you, but I don't
|
| 294 |
+
lead," translate that in your mind to "No, except yes if you turn
|
| 295 |
+
out to be a hot deal." And since that's the default opinion of any
|
| 296 |
+
investor about any startup, they've essentially just told you
|
| 297 |
+
nothing.<br /><br />When you first start fundraising, the expected value of an investor
|
| 298 |
+
who won't "lead" is zero, so talk to such investors last if at all.<br /><br />
|
| 299 |
+
<b>Have multiple plans.</b><br /><br />Many investors will ask how much you're planning to raise. This
|
| 300 |
+
question makes founders feel they should be planning to raise a
|
| 301 |
+
specific amount. But in fact you shouldn't. It's a mistake to
|
| 302 |
+
have fixed plans in an undertaking as unpredictable as fundraising.<br /><br />So why do investors ask how much you plan to raise? For much the
|
| 303 |
+
same reasons a salesperson in a store will ask "How much were you
|
| 304 |
+
planning to spend?" if you walk in looking for a gift for a friend.
|
| 305 |
+
You probably didn't have a precise amount in mind; you just want
|
| 306 |
+
to find something good, and if it's inexpensive, so much the better.
|
| 307 |
+
The salesperson asks you this not because you're supposed to have
|
| 308 |
+
a plan to spend a specific amount, but so they can show you only
|
| 309 |
+
things that cost the most you'll pay.<br /><br />Similarly, when investors ask how much you plan to raise, it's not
|
| 310 |
+
because you're supposed to have a plan. It's to see whether you'd
|
| 311 |
+
be a suitable recipient for the size of investment they like to
|
| 312 |
+
make, and also to judge your ambition, reasonableness, and how far
|
| 313 |
+
you are along with fundraising.<br /><br />If you're a wizard at fundraising, you can say "We plan to raise
|
| 314 |
+
a $7 million series A round, and we'll be accepting termsheets next
|
| 315 |
+
tuesday." I've known a handful of founders who could pull that off
|
| 316 |
+
without having VCs laugh in their faces. But if you're in the
|
| 317 |
+
inexperienced but earnest majority, the solution is analogous to
|
| 318 |
+
the solution I recommend for <a href="convince.html">pitching</a>
|
| 319 |
+
your startup: do the right thing and then just tell investors what
|
| 320 |
+
you're doing.<br /><br />And the right strategy, in fundraising, is to have multiple plans
|
| 321 |
+
depending on how much you can raise. Ideally you should be able
|
| 322 |
+
to tell investors something like: we can make it to profitability
|
| 323 |
+
without raising any more money, but if we raise a few hundred
|
| 324 |
+
thousand we can hire one or two smart friends, and if we raise a
|
| 325 |
+
couple million, we can hire a whole engineering team, etc.<br /><br />Different plans match different investors. If you're talking to a
|
| 326 |
+
VC firm that only does series A rounds (though there are few of
|
| 327 |
+
those left), it would be a waste of time talking about any but your
|
| 328 |
+
most expensive plan. Whereas if you're talking to an angel who
|
| 329 |
+
invests $20k at a time and you haven't raised any money yet, you
|
| 330 |
+
probably want to focus on your least expensive plan.<br /><br />If you're so fortunate as to have to think about the upper limit
|
| 331 |
+
on what you should raise, a good rule of thumb is to multiply the
|
| 332 |
+
number of people you want to hire times $15k times 18 months. In
|
| 333 |
+
most startups, nearly all the costs are a function of the number
|
| 334 |
+
of people, and $15k per month is the conventional total cost
|
| 335 |
+
(including benefits and even office space) per person. $15k per
|
| 336 |
+
month is high, so don't actually spend that much. But it's ok to
|
| 337 |
+
use a high estimate when fundraising to add a margin for error. If
|
| 338 |
+
you have additional expenses, like manufacturing, add in those at
|
| 339 |
+
the end. Assuming you have none and you think you might hire 20
|
| 340 |
+
people, the most you'd want to raise is 20 x $15k x 18 = $5.4
|
| 341 |
+
million.
|
| 342 |
+
<font color=#999999>[<a href="#f18n"><font color=#999999>18</font></a>]</font><br /><br />
|
| 343 |
+
<b>Underestimate how much you want.</b><br /><br />Though you can focus on different plans when talking to different
|
| 344 |
+
types of investors, you should on the whole err on the side of
|
| 345 |
+
underestimating the amount you hope to raise.<br /><br />For example, if you'd like to raise $500k, it's better to say
|
| 346 |
+
initially that you're trying to raise $250k. Then when you reach
|
| 347 |
+
$150k you're more than half done. That sends two useful signals
|
| 348 |
+
to investors: that you're doing well, and that they have to decide
|
| 349 |
+
quickly because you're running out of room. Whereas if you'd said
|
| 350 |
+
you were raising $500k, you'd be less than a third done at $150k.
|
| 351 |
+
If fundraising stalled there for an appreciable time, you'd start
|
| 352 |
+
to read as a failure.<br /><br />Saying initially that you're raising $250k doesn't limit you to
|
| 353 |
+
raising that much. When you reach your initial target and you still
|
| 354 |
+
have investor interest, you can just decide to raise more. Startups
|
| 355 |
+
do that all the time. In fact, most startups that are very successful
|
| 356 |
+
at fundraising end up raising more than they originally intended.<br /><br />I'm not saying you should lie, but that you should lower your
|
| 357 |
+
expectations initially. There is almost no downside in starting
|
| 358 |
+
with a low number. It not only won't cap the amount you raise, but
|
| 359 |
+
will on the whole tend to increase it.<br /><br />A good metaphor here is angle of attack. If you try to fly at too
|
| 360 |
+
steep an angle of attack, you just stall. If you say right out of
|
| 361 |
+
the gate that you want to raise a $5 million series A round, unless
|
| 362 |
+
you're in a very strong position, you not only won't get that but
|
| 363 |
+
won't get anything. Better to start at a low angle of attack, build
|
| 364 |
+
up speed, and then gradually increase the angle if you want.<br /><br />
|
| 365 |
+
<b>Be profitable if you can.</b><br /><br />You will be in a much stronger position if your collection of plans
|
| 366 |
+
includes one for raising zero dollars — i.e. if you can make
|
| 367 |
+
it to profitability without raising any additional money. Ideally
|
| 368 |
+
you want to be able to say to investors "We'll succeed no matter
|
| 369 |
+
what, but raising money will help us do it faster."<br /><br />There are many analogies between fundraising and dating, and this
|
| 370 |
+
is one of the strongest. No one wants you if you seem desperate.
|
| 371 |
+
And the best way not to seem desperate is not to <i>be</i> desperate.
|
| 372 |
+
That's one reason we urge startups during YC to keep expenses low
|
| 373 |
+
and to try to make it to <a href="ramenprofitable.html">ramen
|
| 374 |
+
profitability</a> before Demo Day. Though it sounds slightly
|
| 375 |
+
paradoxical, if you want to raise money, the best thing you can do
|
| 376 |
+
is get yourself to the point where you don't need to.<br /><br />There are almost two distinct modes of fundraising: one in which
|
| 377 |
+
founders who need money knock on doors seeking it, knowing that
|
| 378 |
+
otherwise the company will die or at the very least people will
|
| 379 |
+
have to be fired, and one in which founders who don't need money
|
| 380 |
+
take some to grow faster than they could merely on their own revenues.
|
| 381 |
+
To emphasize the distinction I'm going to name them: type A fundraising
|
| 382 |
+
is when you don't need money, and type B fundraising is when you
|
| 383 |
+
do.<br /><br />Inexperienced founders read about famous startups doing what was
|
| 384 |
+
type A fundraising, and decide they should raise money too, since
|
| 385 |
+
that seems to be how startups work. Except when they raise money
|
| 386 |
+
they don't have a clear path to profitability and are thus doing
|
| 387 |
+
type B fundraising. And they are then surprised how difficult and
|
| 388 |
+
unpleasant it is.<br /><br />Of course not all startups can make it to ramen profitability in a
|
| 389 |
+
few months. And some that don't still manage to have the upper
|
| 390 |
+
hand over investors, if they have some other advantage like
|
| 391 |
+
extraordinary growth numbers or exceptionally formidable founders.
|
| 392 |
+
But as time passes it gets increasingly difficult to fundraise from
|
| 393 |
+
a position of strength without being profitable.
|
| 394 |
+
<font color=#999999>[<a href="#f19n"><font color=#999999>19</font></a>]</font><br /><br />
|
| 395 |
+
<b>Don't optimize for valuation.</b><br /><br />When you raise money, what should your valuation be? The most
|
| 396 |
+
important thing to understand about valuation is that it's not that
|
| 397 |
+
important.<br /><br />Founders who raise money at high valuations tend to be unduly proud
|
| 398 |
+
of it. Founders are often competitive people, and since valuation
|
| 399 |
+
is usually the only visible number attached to a startup, they end
|
| 400 |
+
up competing to raise money at the highest valuation. This is
|
| 401 |
+
stupid, because fundraising is not the test that matters. The real
|
| 402 |
+
test is revenue. Fundraising is just a means to that end. Being
|
| 403 |
+
proud of how well you did at fundraising is like being proud of
|
| 404 |
+
your college grades.<br /><br />Not only is fundraising not the test that matters, valuation is not
|
| 405 |
+
even the thing to optimize about fundraising. The number one thing
|
| 406 |
+
you want from phase 2 fundraising is to get the money you need, so
|
| 407 |
+
you can get back to focusing on the real test, the success of your
|
| 408 |
+
company. Number two is good investors. Valuation is at best third.<br /><br />The empirical evidence shows just how unimportant it is. Dropbox
|
| 409 |
+
and Airbnb are the most successful companies we've funded so far,
|
| 410 |
+
and they raised money after Y Combinator at premoney valuations of
|
| 411 |
+
$4 million and $2.6 million respectively. Prices are so much higher
|
| 412 |
+
now that if you can raise money at all you'll probably raise it at
|
| 413 |
+
higher valuations than Dropbox and Airbnb. So let that satisfy
|
| 414 |
+
your competitiveness. You're doing better than Dropbox and Airbnb!
|
| 415 |
+
At a test that doesn't matter.<br /><br />When you start fundraising, your initial valuation (or valuation
|
| 416 |
+
cap) will be set by the deal you make with the first investor who
|
| 417 |
+
commits. You can increase the price for later investors, if you
|
| 418 |
+
get a lot of interest, but by default the valuation you got from
|
| 419 |
+
the first investor becomes your asking price.<br /><br />So if you're raising money from multiple investors, as most companies
|
| 420 |
+
do in phase 2, you have to be careful to avoid raising the first
|
| 421 |
+
from an over-eager investor at a price you won't be able to
|
| 422 |
+
sustain. You can of course lower your price if you need to (in
|
| 423 |
+
which case you should give the same terms to investors who invested
|
| 424 |
+
earlier at a higher price), but you may lose a bunch of leads in
|
| 425 |
+
the process of realizing you need to do this.<br /><br />What you can do if you have eager first investors is raise money
|
| 426 |
+
from them on an uncapped convertible note with an MFN clause. This
|
| 427 |
+
is essentially a way of saying that the valuation cap of the note
|
| 428 |
+
will be determined by the next investors you raise money from.<br /><br />It will be easier to raise money at a lower valuation. It shouldn't
|
| 429 |
+
be, but it is. Since phase 2 prices vary at most 10x and the big
|
| 430 |
+
successes generate returns of at least 100x, investors should pick
|
| 431 |
+
startups entirely based on their estimate of the probability that
|
| 432 |
+
the company will be a big success and hardly at all on price. But
|
| 433 |
+
although it's a mistake for investors to care about price, a
|
| 434 |
+
significant number do. A startup that investors seem to like but
|
| 435 |
+
won't invest in at a cap of $x will have an easier time at $x/2.
|
| 436 |
+
<font color=#999999>[<a href="#f20n"><font color=#999999>20</font></a>]</font><br /><br />
|
| 437 |
+
<b>Yes/no before valuation.</b><br /><br />Some investors want to know what your valuation is before they even
|
| 438 |
+
talk to you about investing. If your valuation has already been
|
| 439 |
+
set by a prior investment at a specific valuation or cap, you can
|
| 440 |
+
tell them that number. But if it isn't set because you haven't
|
| 441 |
+
closed anyone yet, and they try to push you to name a price, resist
|
| 442 |
+
doing so. If this would be the first investor you've closed, then
|
| 443 |
+
this could be the tipping point of fundraising. That means closing
|
| 444 |
+
this investor is the first priority, and you need to get the
|
| 445 |
+
conversation onto that instead of being dragged sideways into a
|
| 446 |
+
discussion of price.<br /><br />Fortunately there is a way to avoid naming a price in this situation.
|
| 447 |
+
And it is not just a negotiating trick; it's how you (both) should
|
| 448 |
+
be operating. Tell them that valuation is not the most important
|
| 449 |
+
thing to you and that you haven't thought much about it, that you
|
| 450 |
+
are looking for investors you want to partner with and who want to
|
| 451 |
+
partner with you, and that you should talk first about whether they
|
| 452 |
+
want to invest at all. Then if they decide they do want to invest,
|
| 453 |
+
you can figure out a price. But first things first.<br /><br />Since valuation isn't that important and getting fundraising rolling
|
| 454 |
+
is, we usually tell founders to give the first investor who commits
|
| 455 |
+
as low a price as they need to. This is a safe technique so long
|
| 456 |
+
as you combine it with the next one.
|
| 457 |
+
<font color=#999999>[<a href="#f21n"><font color=#999999>21</font></a>]</font><br /><br />
|
| 458 |
+
<b>Beware "valuation sensitive" investors.</b><br /><br />Occasionally you'll encounter investors who describe themselves as
|
| 459 |
+
"valuation sensitive." What this means in practice is that they
|
| 460 |
+
are compulsive negotiators who will suck up a lot of your time
|
| 461 |
+
trying to push your price down. You should therefore never approach
|
| 462 |
+
such investors first. While you shouldn't chase high valuations,
|
| 463 |
+
you also don't want your valuation to be set artificially low because
|
| 464 |
+
the first investor who committed happened to be a compulsive
|
| 465 |
+
negotiator. Some such investors have value, but the time to approach
|
| 466 |
+
them is near the end of fundraising, when you're in a position to
|
| 467 |
+
say "this is the price everyone else has paid; take it or leave it"
|
| 468 |
+
and not mind if they leave it. This way, you'll not only get market
|
| 469 |
+
price, but it will also take less time.<br /><br />Ideally you know which investors have a reputation for being
|
| 470 |
+
"valuation sensitive" and can postpone dealing with them till last,
|
| 471 |
+
but occasionally one you didn't know about will pop up early on.
|
| 472 |
+
The rule of doing breadth first search weighted by expected value
|
| 473 |
+
already tells you what to do in this case: slow down your interactions
|
| 474 |
+
with them.<br /><br />There are a handful of investors who will try to invest at a lower
|
| 475 |
+
valuation even when your price has already been set. Lowering your
|
| 476 |
+
price is a backup plan you resort to when you discover you've let
|
| 477 |
+
the price get set too high to close all the money you need. So
|
| 478 |
+
you'd only want to talk to this sort of investor if you were about
|
| 479 |
+
to do that anyway. But since investor meetings have to be arranged
|
| 480 |
+
at least a few days in advance and you can't predict when you'll
|
| 481 |
+
need to resort to lowering your price, this means in practice that
|
| 482 |
+
you should approach this type of investor last if at all.<br /><br />If you're surprised by a lowball offer, treat it as a backup offer
|
| 483 |
+
and delay responding to it. When someone makes an offer in good
|
| 484 |
+
faith, you have a moral obligation to respond in a reasonable time.
|
| 485 |
+
But lowballing you is a dick move that should be met with the
|
| 486 |
+
corresponding countermove.<br /><br />
|
| 487 |
+
<b>Accept offers greedily.</b><br /><br />I'm a little leery of using the term "greedily" when writing about
|
| 488 |
+
fundraising lest non-programmers misunderstand me, but a greedy
|
| 489 |
+
algorithm is simply one that doesn't try to look into the future.
|
| 490 |
+
A greedy algorithm takes the best of the options in front of it
|
| 491 |
+
right now. And that is how startups should approach fundraising
|
| 492 |
+
in phases 2 and later. Don't try to look into the future because
|
| 493 |
+
(a) the future is unpredictable, and indeed in this business you're
|
| 494 |
+
often being deliberately misled about it and (b) your first priority
|
| 495 |
+
in fundraising should be to get it finished and get back to work
|
| 496 |
+
anyway.<br /><br />If someone makes you an acceptable offer, take it. If you have
|
| 497 |
+
multiple incompatible offers, take the best. Don't reject an
|
| 498 |
+
acceptable offer in the hope of getting a better one in the future.<br /><br />These simple rules cover a wide variety of cases. If you're raising
|
| 499 |
+
money from many investors, roll them up as they say yes. As you
|
| 500 |
+
start to feel you've raised enough, the threshold for acceptable
|
| 501 |
+
will start to get higher.<br /><br />In practice offers exist for stretches of time, not points. So
|
| 502 |
+
when you get an acceptable offer that would be incompatible with
|
| 503 |
+
others (e.g. an offer to invest most of the money you need), you
|
| 504 |
+
can tell the other investors you're talking to that you have an
|
| 505 |
+
offer good enough to accept, and give them a few days to make their
|
| 506 |
+
own. This could lose you some that might have made an offer if
|
| 507 |
+
they had more time. But by definition you don't care; the initial
|
| 508 |
+
offer was acceptable.<br /><br />Some investors will try to prevent others from having time to decide
|
| 509 |
+
by giving you an "exploding" offer, meaning one that's only valid
|
| 510 |
+
for a few days. Offers from the very best investors explode less
|
| 511 |
+
frequently and less rapidly — Fred Wilson never gives exploding
|
| 512 |
+
offers, for example — because they're confident you'll pick
|
| 513 |
+
them. But lower-tier investors sometimes give offers with very
|
| 514 |
+
short fuses, because they believe no one who had other options would
|
| 515 |
+
choose them. A deadline of three working days is acceptable. You
|
| 516 |
+
shouldn't need more than that if you've been talking to investors
|
| 517 |
+
in parallel. But a deadline any shorter is a sign you're dealing
|
| 518 |
+
with a sketchy investor. You can usually call their bluff, and you
|
| 519 |
+
may need to.
|
| 520 |
+
<font color=#999999>[<a href="#f22n"><font color=#999999>22</font></a>]</font><br /><br />It might seem that instead of accepting offers greedily, your goal
|
| 521 |
+
should be to get the best investors as partners. That is certainly
|
| 522 |
+
a good goal, but in phase 2 "get the best investors" only rarely
|
| 523 |
+
conflicts with "accept offers greedily," because the best investors
|
| 524 |
+
don't usually take any longer to decide than the others. The only
|
| 525 |
+
case where the two strategies give conflicting advice is when you
|
| 526 |
+
have to forgo an offer from an acceptable investor to see if you'll
|
| 527 |
+
get an offer from a better one. If you talk to investors in parallel
|
| 528 |
+
and push back on exploding offers with excessively short deadlines,
|
| 529 |
+
that will almost never happen. But if it does, "get the best
|
| 530 |
+
investors" is in the average case bad advice. The best investors
|
| 531 |
+
are also the most selective, because they get their pick of all the
|
| 532 |
+
startups. They reject nearly everyone they talk to, which means
|
| 533 |
+
in the average case it's a bad trade to exchange a definite offer
|
| 534 |
+
from an acceptable investor for a potential offer from a better
|
| 535 |
+
one.<br /><br />(The situation is different in phase 1. You can't apply to all the
|
| 536 |
+
incubators in parallel, because some offset their schedules to
|
| 537 |
+
prevent this. In phase 1, "accept offers greedily" and "get the
|
| 538 |
+
best investors" do conflict, so if you want to apply to multiple
|
| 539 |
+
incubators, you should do it in such a way that the ones you want
|
| 540 |
+
most decide first.)<br /><br />Sometimes when you're raising money from multiple investors, a
|
| 541 |
+
series A will emerge out of those conversations, and these rules
|
| 542 |
+
even cover what to do in that case. When an investor starts to
|
| 543 |
+
talk to you about a series A, keep taking smaller investments till
|
| 544 |
+
they actually give you a termsheet. There's no practical difficulty.
|
| 545 |
+
If the smaller investments are on convertible notes, they'll just
|
| 546 |
+
convert into the series A round. The series A investor won't like
|
| 547 |
+
having all these other random investors as bedfellows, but if it
|
| 548 |
+
bothers them so much they should get on with giving you a termsheet.
|
| 549 |
+
Till they do, you don't know for sure they will, and the greedy
|
| 550 |
+
algorithm tells you what to do.
|
| 551 |
+
<font color=#999999>[<a href="#f23n"><font color=#999999>23</font></a>]</font><br /><br />
|
| 552 |
+
<b>Don't sell more than 25% in phase 2.</b><br /><br />If you do well, you will probably raise a series A round eventually.
|
| 553 |
+
I say probably because things are changing with series A rounds.
|
| 554 |
+
Startups may start to skip them. But only one company we've funded
|
| 555 |
+
has so far, so tentatively assume the path to huge passes through
|
| 556 |
+
an A round.
|
| 557 |
+
<font color=#999999>[<a href="#f24n"><font color=#999999>24</font></a>]</font><br /><br />Which means you should avoid doing things in earlier rounds that
|
| 558 |
+
will mess up raising an A round. For example, if you've sold more
|
| 559 |
+
than about 40% of your company total, it starts to get harder to
|
| 560 |
+
raise an A round, because VCs worry there will not be enough stock
|
| 561 |
+
left to keep the founders motivated.<br /><br />Our rule of thumb is not to sell more than 25% in phase 2, on top
|
| 562 |
+
of whatever you sold in phase 1, which should be less than 15%. If
|
| 563 |
+
you're raising money on uncapped notes, you'll have to guess what
|
| 564 |
+
the eventual equity round valuation might be. Guess conservatively.<br /><br />(Since the goal of this rule is to avoid messing up the series A,
|
| 565 |
+
there's obviously an exception if you end up raising a series A in
|
| 566 |
+
phase 2, as a handful of startups do.)<br /><br />
|
| 567 |
+
<b>Have one person handle fundraising.</b><br /><br />If you have multiple founders, pick one to handle fundraising so
|
| 568 |
+
the other(s) can keep working on the company. And since the danger
|
| 569 |
+
of fundraising is not the time taken up by the actual meetings but
|
| 570 |
+
that it becomes the top idea in your mind, the founder who handles
|
| 571 |
+
fundraising should make a conscious effort to insulate the other
|
| 572 |
+
founder(s) from the details of the process.
|
| 573 |
+
<font color=#999999>[<a href="#f25n"><font color=#999999>25</font></a>]</font><br /><br />(If the founders mistrust one another, this could cause some friction.
|
| 574 |
+
But if the founders mistrust one another, you have worse problems
|
| 575 |
+
to worry about than how to organize fundraising.)<br /><br />The founder who handles fundraising should be the CEO, who should
|
| 576 |
+
in turn be the most formidable of the founders. Even if the CEO
|
| 577 |
+
is a programmer and another founder is a salesperson? Yes. If you
|
| 578 |
+
happen to be that type of founding team, you're effectively a single
|
| 579 |
+
founder when it comes to fundraising.<br /><br />It's ok to bring all the founders to meet an investor who will
|
| 580 |
+
invest a lot, and who needs this meeting as the final step before
|
| 581 |
+
deciding. But wait till that point. Introducing an investor to
|
| 582 |
+
your cofounder(s) should be like introducing a girl/boyfriend to
|
| 583 |
+
your parents — something you do only when things reach a certain
|
| 584 |
+
stage of seriousness.<br /><br />Even if there are still one or more founders focusing on the company
|
| 585 |
+
during fundraising, growth will slow. But try to get as much growth
|
| 586 |
+
as you can, because fundraising is a segment of time, not a point,
|
| 587 |
+
and what happens to the company during that time affects the outcome.
|
| 588 |
+
If your numbers grow significantly between two investor meetings,
|
| 589 |
+
investors will be hot to close, and if your numbers are flat or
|
| 590 |
+
down they'll start to get cold feet.<br /><br />
|
| 591 |
+
<b>You'll need an executive summary and (maybe) a deck.</b><br /><br />Traditionally phase 2 fundraising consists of presenting a slide
|
| 592 |
+
deck in person to investors. Sequoia describes what such a deck
|
| 593 |
+
should <a href="http://www.sequoiacap.com/ideas">contain</a>, and
|
| 594 |
+
since they're the customer you can take their word for it.<br /><br />I say "traditionally" because I'm ambivalent about decks, and (though
|
| 595 |
+
perhaps this is wishful thinking) they seem to be on the way out.
|
| 596 |
+
A lot of the most successful startups we fund never make decks in
|
| 597 |
+
phase 2. They just talk to investors and explain what they plan
|
| 598 |
+
to do. Fundraising usually takes off fast for the startups that
|
| 599 |
+
are most successful at it, and they're thus able to excuse themselves
|
| 600 |
+
by saying that they haven't had time to make a deck.<br /><br />You'll also want an executive summary, which should be no more than
|
| 601 |
+
a page long and describe in the most matter of fact language what
|
| 602 |
+
you plan to do, why it's a good idea, and what progress you've made
|
| 603 |
+
so far. The point of the summary is to remind the investor (who
|
| 604 |
+
may have met many startups that day) what you talked about.<br /><br />Assume that if you give someone a copy of your deck or executive
|
| 605 |
+
summary, it will be passed on to whoever you'd least like to have
|
| 606 |
+
it. But don't refuse on that account to give copies to investors
|
| 607 |
+
you meet. You just have to treat such leaks as a cost of doing
|
| 608 |
+
business. In practice it's not that high a cost. Though founders
|
| 609 |
+
are rightly indignant when their plans get leaked to competitors,
|
| 610 |
+
I can't think of a startup whose outcome has been affected by it.<br /><br />Sometimes an investor will ask you to send them your deck and/or
|
| 611 |
+
executive summary before they decide whether to meet with you. I
|
| 612 |
+
wouldn't do that. It's a sign they're not really interested.<br /><br />
|
| 613 |
+
<b>Stop fundraising when it stops working.</b><br /><br />When do you stop fundraising? Ideally when you've raised enough.
|
| 614 |
+
But what if you haven't raised as much as you'd like? When do you
|
| 615 |
+
give up?<br /><br />It's hard to give general advice about this, because there have
|
| 616 |
+
been cases of startups that kept trying to raise money even when
|
| 617 |
+
it seemed hopeless, and miraculously succeeded. But what I usually
|
| 618 |
+
tell founders is to stop fundraising when you start to get a lot
|
| 619 |
+
of air in the straw. When you're drinking through a straw, you can
|
| 620 |
+
tell when you get to the end of the liquid because you start to get
|
| 621 |
+
a lot of air in the straw. When your fundraising options run out,
|
| 622 |
+
they usually run out in the same way. Don't keep sucking on the
|
| 623 |
+
straw if you're just getting air. It's not going to get better.<br /><br />
|
| 624 |
+
<b>Don't get addicted to fundraising.</b><br /><br />Fundraising is a chore for most founders, but some find it more
|
| 625 |
+
interesting than working on their startup. The work at an early
|
| 626 |
+
stage startup often consists of unglamorous <a
|
| 627 |
+
href="schlep.html">schleps</a>. Whereas fundraising, when it's
|
| 628 |
+
going well, can be quite the opposite. Instead of sitting in your
|
| 629 |
+
grubby apartment listening to users complain about bugs in your
|
| 630 |
+
software, you're being offered millions of dollars by famous investors
|
| 631 |
+
over lunch at a nice restaurant.
|
| 632 |
+
<font color=#999999>[<a href="#f26n"><font color=#999999>26</font></a>]</font><br /><br />The danger of fundraising is particularly acute for people who are
|
| 633 |
+
good at it. It's always fun to work on something you're good at.
|
| 634 |
+
If you're one of these people, beware. Fundraising is not what
|
| 635 |
+
will make your company successful. Listening to users complain
|
| 636 |
+
about bugs in your software is what will make you successful. And
|
| 637 |
+
the big danger of getting addicted to fundraising is not merely
|
| 638 |
+
that you'll spend too long on it or raise too much money. It's
|
| 639 |
+
that you'll start to think of yourself as being already successful,
|
| 640 |
+
and lose your taste for the schleps you need to undertake to actually
|
| 641 |
+
be successful. Startups can be destroyed by this.<br /><br />When I see a startup with young founders that is fabulously successful
|
| 642 |
+
at fundraising, I mentally decrease my estimate of the probability
|
| 643 |
+
that they'll succeed. The press may be writing about them as if
|
| 644 |
+
they'd been anointed as the next Google, but I'm thinking "this is
|
| 645 |
+
going to end badly."<br /><br />
|
| 646 |
+
<b>Don't raise too much.</b><br /><br />Though only a handful of startups have to worry about this, it is
|
| 647 |
+
possible to raise too much. The dangers of raising too much are
|
| 648 |
+
subtle but insidious. One is that it will set impossibly high
|
| 649 |
+
expectations. If you raise an excessive amount of money, it will
|
| 650 |
+
be at a high valuation, and the danger of raising money at too high
|
| 651 |
+
a valuation is that you won't be able to increase it sufficiently
|
| 652 |
+
the next time you raise money.<br /><br />A company's valuation is expected to rise each time it raises money.
|
| 653 |
+
If not it's a sign of a company in trouble, which makes you
|
| 654 |
+
unattractive to investors. So if you raise money in phase 2 at a
|
| 655 |
+
post-money valuation of $30 million, the pre-money valuation of
|
| 656 |
+
your next round, if you want to raise one, is going to have to be
|
| 657 |
+
at least $50 million. And you have to be doing really, really well
|
| 658 |
+
to raise money at $50 million.<br /><br />It's very dangerous to let the competitiveness of your current round
|
| 659 |
+
set the performance threshold you have to meet to raise your next
|
| 660 |
+
one, because the two are only loosely coupled.<br /><br />But the money itself may be more dangerous than the valuation. The
|
| 661 |
+
more you raise, the more you spend, and spending a lot of money can
|
| 662 |
+
be disastrous for an early stage startup. Spending a lot makes it
|
| 663 |
+
harder to become profitable, and perhaps even worse, it makes you
|
| 664 |
+
more rigid, because the main way to spend money is people, and the
|
| 665 |
+
more people you have, the harder it is to change directions. So
|
| 666 |
+
if you do raise a huge amount of money, don't spend it. (You will
|
| 667 |
+
find that advice almost impossible to follow, so hot will be the
|
| 668 |
+
money burning a hole in your pocket, but I feel obliged at least
|
| 669 |
+
to try.)<br /><br />
|
| 670 |
+
<b>Be nice.</b><br /><br />Startups raising money occasionally alienate investors by seeming
|
| 671 |
+
arrogant. Sometimes because they are arrogant, and sometimes because
|
| 672 |
+
they're noobs clumsily attempting to mimic the toughness they've
|
| 673 |
+
observed in experienced founders.<br /><br />It's a mistake to behave arrogantly to investors. While there are
|
| 674 |
+
certain situations in which certain investors like certain kinds
|
| 675 |
+
of arrogance, investors vary greatly in this respect, and a flick
|
| 676 |
+
of the whip that will bring one to heel will make another roar with
|
| 677 |
+
indignation. The only safe strategy is never to seem arrogant at
|
| 678 |
+
all.<br /><br />That will require some diplomacy if you follow the advice I've given
|
| 679 |
+
here, because the advice I've given is essentially how to play
|
| 680 |
+
hardball back. When you refuse to meet an investor because you're
|
| 681 |
+
not in fundraising mode, or slow down your interactions with an
|
| 682 |
+
investor who moves too slow, or treat a contingent offer as the no
|
| 683 |
+
it actually is and then, by accepting offers greedily, end up leaving
|
| 684 |
+
that investor out, you're going to be doing things investors don't
|
| 685 |
+
like. So you must cushion the blow with soft words. At YC we tell
|
| 686 |
+
startups they can blame us. And now that I've written this, everyone
|
| 687 |
+
else can blame me if they want. That plus the inexperience card
|
| 688 |
+
should work in most situations: sorry, we think you're great, but
|
| 689 |
+
PG said startups shouldn't ___, and since we're new to fundraising,
|
| 690 |
+
we feel like we have to play it safe.<br /><br />The danger of behaving arrogantly is greatest when you're doing
|
| 691 |
+
well. When everyone wants you, it's hard not to let it go to your
|
| 692 |
+
head. Especially if till recently no one wanted you. But restrain
|
| 693 |
+
yourself. The startup world is a small place, and startups have
|
| 694 |
+
lots of ups and downs. This is a domain where it's more true than
|
| 695 |
+
usual that pride goeth before a fall.
|
| 696 |
+
<font color=#999999>[<a href="#f27n"><font color=#999999>27</font></a>]</font><br /><br />Be nice when investors reject you as well. The best investors are
|
| 697 |
+
not wedded to their initial opinion of you. If they reject you in
|
| 698 |
+
phase 2 and you end up doing well, they'll often invest in phase
|
| 699 |
+
3. In fact investors who reject you are some of your warmest leads
|
| 700 |
+
for future fundraising. Any investor who spent significant time
|
| 701 |
+
deciding probably came close to saying yes. Often you have some
|
| 702 |
+
internal champion who only needs a little more evidence to convince
|
| 703 |
+
the skeptics. So it's wise not merely to be nice to investors who
|
| 704 |
+
reject you, but (unless they behaved badly) to treat it as the
|
| 705 |
+
beginning of a relationship.<br /><br />
|
| 706 |
+
<b>The bar will be higher next time.</b><br /><br />Assume the money you raise in phase 2 will be the last you ever
|
| 707 |
+
raise. You must make it to profitability on this money if you can.<br /><br />Over the past several years, the investment community has evolved
|
| 708 |
+
from a strategy of anointing a small number of winners early and
|
| 709 |
+
then supporting them for years to a strategy of spraying money at
|
| 710 |
+
early stage startups and then ruthlessly culling them at the next
|
| 711 |
+
stage. This is probably the optimal strategy for investors. It's
|
| 712 |
+
too hard to pick winners early on. Better to let the market do it
|
| 713 |
+
for you. But it often comes as a surprise to startups how much
|
| 714 |
+
harder it is to raise money in phase 3.<br /><br />When your company is only a couple months old, all it has to be is
|
| 715 |
+
a promising experiment that's worth funding to see how it turns
|
| 716 |
+
out. The next time you raise money, the experiment has to have
|
| 717 |
+
worked. You have to be on a trajectory that leads to going public.
|
| 718 |
+
And while there are some ideas where the proof that the experiment
|
| 719 |
+
worked might consist of e.g. query response times, usually the proof
|
| 720 |
+
is profitability. Usually phase 3 fundraising has to be type A
|
| 721 |
+
fundraising.<br /><br />In practice there are two ways startups hose themselves between
|
| 722 |
+
phases 2 and 3. Some are just too slow to become profitable. They
|
| 723 |
+
raise enough money to last for two years. There doesn't seem any
|
| 724 |
+
particular urgency to be profitable. So they don't make any effort
|
| 725 |
+
to make money for a year. But by that time, not making money has
|
| 726 |
+
become habitual. When they finally decide to try, they find they
|
| 727 |
+
can't.<br /><br />The other way companies hose themselves is by letting their expenses
|
| 728 |
+
grow too fast. Which almost always means hiring too many people.
|
| 729 |
+
You usually shouldn't go out and hire 8 people as soon as you raise
|
| 730 |
+
money at phase 2. Usually you want to wait till you have growth
|
| 731 |
+
(and thus usually revenues) to justify them. A lot of VCs will
|
| 732 |
+
encourage you to hire aggressively. VCs generally tell you to spend
|
| 733 |
+
too much, partly because as money people they err on the side of
|
| 734 |
+
solving problems by spending money, and partly because they want
|
| 735 |
+
you to sell them more of your company in subsequent rounds. Don't
|
| 736 |
+
listen to them.<br /><br />
|
| 737 |
+
<b>Don't make things complicated.</b><br /><br />I realize it may seem odd to sum up this huge treatise by saying
|
| 738 |
+
that my overall advice is not to make fundraising too complicated,
|
| 739 |
+
but if you go back and look at this list you'll see it's basically
|
| 740 |
+
a simple recipe with a lot of implications and edge cases. Avoid
|
| 741 |
+
investors till you decide to raise money, and then when you do,
|
| 742 |
+
talk to them all in parallel, prioritized by expected value, and
|
| 743 |
+
accept offers greedily. That's fundraising in one sentence. Don't
|
| 744 |
+
introduce complicated optimizations, and don't let investors introduce
|
| 745 |
+
complications either.<br /><br />Fundraising is not what will make you successful. It's just a means
|
| 746 |
+
to an end. Your primary goal should be to get it over with and get
|
| 747 |
+
back to what will make you successful — making things and talking
|
| 748 |
+
to users — and the path I've described will for most startups
|
| 749 |
+
be the surest way to that destination.<br /><br />Be good, take care of yourselves, and <i>don't leave the path</i>.<br /><br /><br /><br /><br /><br />
|
| 750 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 751 |
+
The worst explosions happen when unpromising-seeming startups
|
| 752 |
+
encounter mediocre investors. Good investors don't lead startups
|
| 753 |
+
on; their reputations are too valuable. And startups that seem
|
| 754 |
+
promising can usually get enough money from good investors that
|
| 755 |
+
they don't have to talk to mediocre ones. It is the unpromising-seeming
|
| 756 |
+
startups that have to resort to raising money from mediocre investors.
|
| 757 |
+
And it's particularly damaging when these investors flake, because
|
| 758 |
+
unpromising-seeming startups are usually more desperate for money.<br /><br />(Not all unpromising-seeming startups do badly. Some are merely
|
| 759 |
+
ugly ducklings in the sense that they violate current startup
|
| 760 |
+
fashions.)<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 761 |
+
One YC founder told me:
|
| 762 |
+
<blockquote>
|
| 763 |
+
I think in general we've done ok at fundraising, but I managed
|
| 764 |
+
to screw up twice at the exact same thing — trying to focus
|
| 765 |
+
on building the company and fundraising at the same time.
|
| 766 |
+
</blockquote>
|
| 767 |
+
[<a name="f3n"><font color=#000000>3</font></a>]
|
| 768 |
+
There is one subtle danger you have to watch out for here, which
|
| 769 |
+
I warn about later: beware of getting too high a valuation from an
|
| 770 |
+
eager investor, lest that set an impossibly high target when raising
|
| 771 |
+
additional money.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 772 |
+
If they really need a meeting, then they're not ready to invest,
|
| 773 |
+
regardless of what they say. They're still deciding, which means
|
| 774 |
+
you're being asked to come in and convince them. Which is fundraising.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 775 |
+
Associates at VC firms regularly cold email startups. Naive
|
| 776 |
+
founders think "Wow, a VC is interested in us!" But an associate
|
| 777 |
+
is not a VC. They have no decision-making power. And while they
|
| 778 |
+
may introduce startups they like to partners at their firm, the
|
| 779 |
+
partners discriminate against deals that come to them this way. I
|
| 780 |
+
don't know of a single VC investment that began with an associate
|
| 781 |
+
cold-emailing a startup. If you want to approach a specific firm,
|
| 782 |
+
get an intro to a partner from someone they respect.<br /><br />It's ok to talk to an associate if you get an intro to a VC firm
|
| 783 |
+
or they see you at a Demo Day and they begin by having an associate
|
| 784 |
+
vet you. That's not a promising lead and should therefore get low
|
| 785 |
+
priority, but it's not as completely worthless as a cold email.<br /><br />Because the title "associate" has gotten a bad reputation, a few
|
| 786 |
+
VC firms have started to give their associates the title "partner,"
|
| 787 |
+
which can make things very confusing. If you're a YC startup you
|
| 788 |
+
can ask us who's who; otherwise you may have to do some research
|
| 789 |
+
online. There may be a special title for actual partners. If
|
| 790 |
+
someone speaks for the firm in the press or a blog on the firm's
|
| 791 |
+
site, they're probably a real partner. If they're on boards of
|
| 792 |
+
directors they're probably a real partner.<br /><br />There are titles between "associate" and "partner," including
|
| 793 |
+
"principal" and "venture partner." The meanings of these titles
|
| 794 |
+
vary too much to generalize.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 795 |
+
For similar reasons, avoid casual conversations with potential
|
| 796 |
+
acquirers. They can lead to distractions even more dangerous than
|
| 797 |
+
fundraising. Don't even take a meeting with a potential acquirer
|
| 798 |
+
unless you want to sell your company right now.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 799 |
+
Joshua Reeves specifically suggests asking each investor to
|
| 800 |
+
intro you to two more investors.<br /><br />Don't ask investors who say no for introductions to other investors.
|
| 801 |
+
That will in many cases be an anti-recommendation.<br /><br />[<a name="f8n"><font color=#000000>8</font></a>]
|
| 802 |
+
This is not always as deliberate as its sounds. A lot of the
|
| 803 |
+
delays and disconnects between founders and investors are induced
|
| 804 |
+
by the customs of the venture business, which have evolved the way
|
| 805 |
+
they have because they suit investors' interests.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 806 |
+
One YC founder who read a draft of this essay wrote:
|
| 807 |
+
<blockquote>
|
| 808 |
+
This is the most important section. I think it might bear stating
|
| 809 |
+
even more clearly. "Investors will deliberately affect more
|
| 810 |
+
interest than they have to preserve optionality. If an investor
|
| 811 |
+
seems very interested in you, they still probably won't invest.
|
| 812 |
+
The solution for this is to assume the worst — that an investor
|
| 813 |
+
is just feigning interest — until you get a definite commitment."
|
| 814 |
+
</blockquote>
|
| 815 |
+
[<a name="f10n"><font color=#000000>10</font></a>]
|
| 816 |
+
Though you should probably pack investor meetings as closely
|
| 817 |
+
as you can, Jeff Byun mentions one reason not to: if you pack
|
| 818 |
+
investor meetings too closely, you'll have less time for your pitch
|
| 819 |
+
to evolve.<br /><br />Some founders deliberately schedule a handful of lame investors
|
| 820 |
+
first, to get the bugs out of their pitch.<br /><br />[<a name="f11n"><font color=#000000>11</font></a>]
|
| 821 |
+
There is not an efficient market in this respect. Some of the
|
| 822 |
+
most useless investors are also the highest maintenance.<br /><br />[<a name="f12n"><font color=#000000>12</font></a>]
|
| 823 |
+
Incidentally, this paragraph is sales 101. If you want to see
|
| 824 |
+
it in action, go talk to a car dealer.<br /><br />[<a name="f13n"><font color=#000000>13</font></a>]
|
| 825 |
+
I know one very smooth founder who used to end investor meetings
|
| 826 |
+
with "So, can I count you in?" delivered as if it were "Can you
|
| 827 |
+
pass the salt?" Unless you're very smooth (if you're not sure...),
|
| 828 |
+
do not do this yourself. There is nothing more unconvincing, for
|
| 829 |
+
an investor, than a nerdy founder trying to deliver the lines meant
|
| 830 |
+
for a smooth one.<br /><br />Investors are fine with funding nerds. So if you're a nerd, just
|
| 831 |
+
try to be a good nerd, rather than doing a bad imitation of a smooth
|
| 832 |
+
salesman.<br /><br />[<a name="f14n"><font color=#000000>14</font></a>]
|
| 833 |
+
Ian Hogarth suggests a good way to tell how serious potential
|
| 834 |
+
investors are: the resources they expend on you after the first
|
| 835 |
+
meeting. An investor who's seriously interested will already be
|
| 836 |
+
working to help you even before they've committed.<br /><br />[<a name="f15n"><font color=#000000>15</font></a>]
|
| 837 |
+
In principle you might have to think about so-called "signalling
|
| 838 |
+
risk." If a prestigious VC makes a small seed investment in you,
|
| 839 |
+
what if they don't want to invest the next time you raise money?
|
| 840 |
+
Other investors might assume that the VC knows you well, since
|
| 841 |
+
they're an existing investor, and if they don't want to invest in
|
| 842 |
+
your next round, that must mean you suck. The reason I say "in
|
| 843 |
+
principle" is that in practice signalling hasn't been much of a
|
| 844 |
+
problem so far. It rarely arises, and in the few cases where it
|
| 845 |
+
does, the startup in question usually is doing badly and is doomed
|
| 846 |
+
anyway.<br /><br />If you have the luxury of choosing among seed investors, you can
|
| 847 |
+
play it safe by excluding VC firms. But it isn't critical to.<br /><br />[<a name="f16n"><font color=#000000>16</font></a>]
|
| 848 |
+
Sometimes a competitor will deliberately threaten you with a
|
| 849 |
+
lawsuit just as you start fundraising, because they know you'll
|
| 850 |
+
have to disclose the threat to potential investors and they hope
|
| 851 |
+
this will make it harder for you to raise money. If this happens
|
| 852 |
+
it will probably frighten you more than investors. Experienced
|
| 853 |
+
investors know about this trick, and know the actual lawsuits rarely
|
| 854 |
+
happen. So if you're attacked in this way, be forthright with
|
| 855 |
+
investors. They'll be more alarmed if you seem evasive than if you
|
| 856 |
+
tell them everything.<br /><br />[<a name="f17n"><font color=#000000>17</font></a>]
|
| 857 |
+
A related trick is to claim that they'll only invest contingently
|
| 858 |
+
on other investors doing so because otherwise you'd be "undercapitalized."
|
| 859 |
+
This is almost always bullshit. They can't estimate your minimum
|
| 860 |
+
capital needs that precisely.<br /><br />[<a name="f18n"><font color=#000000>18</font></a>]
|
| 861 |
+
You won't hire all those 20 people at once, and you'll probably
|
| 862 |
+
have some revenues before 18 months are out. But those too are
|
| 863 |
+
acceptable or at least accepted additions to the margin for error.<br /><br />[<a name="f19n"><font color=#000000>19</font></a>]
|
| 864 |
+
Type A fundraising is so much better that it might even be
|
| 865 |
+
worth doing something different if it gets you there sooner. One
|
| 866 |
+
YC founder told me that if he were a first-time founder again he'd
|
| 867 |
+
"leave ideas that are up-front capital intensive to founders with
|
| 868 |
+
established reputations."<br /><br />[<a name="f20n"><font color=#000000>20</font></a>]
|
| 869 |
+
I don't know whether this happens because they're innumerate,
|
| 870 |
+
or because they believe they have zero ability to predict startup
|
| 871 |
+
outcomes (in which case this behavior at least wouldn't be irrational).
|
| 872 |
+
In either case the implications are similar.<br /><br />[<a name="f21n"><font color=#000000>21</font></a>]
|
| 873 |
+
If you're a YC startup and you have an investor who for some
|
| 874 |
+
reason insists that you decide the price, any YC partner can estimate
|
| 875 |
+
a market price for you.<br /><br />[<a name="f22n"><font color=#000000>22</font></a>]
|
| 876 |
+
You should respond in kind when investors behave upstandingly
|
| 877 |
+
too. When an investor makes you a clean offer with no deadline,
|
| 878 |
+
you have a moral obligation to respond promptly.<br /><br />[<a name="f23n"><font color=#000000>23</font></a>]
|
| 879 |
+
Tell the investors talking to you about an A round about the
|
| 880 |
+
smaller investments you raise as you raise them. You owe them such
|
| 881 |
+
updates on your cap table, and this is also a good way to pressure
|
| 882 |
+
them to act. They won't like you raising other money and may
|
| 883 |
+
pressure you to stop, but they can't legitimately ask you to commit
|
| 884 |
+
to them till they also commit to you. If they want you to stop
|
| 885 |
+
raising money, the way to do it is to give you a series A termsheet
|
| 886 |
+
with a no-shop clause.<br /><br />You can relent a little if the potential series A investor has a
|
| 887 |
+
great reputation and they're clearly working fast to get you a
|
| 888 |
+
termsheet, particularly if a third party like YC is involved to
|
| 889 |
+
ensure there are no misunderstandings. But be careful.<br /><br />[<a name="f24n"><font color=#000000>24</font></a>]
|
| 890 |
+
The company is Weebly, which made it to profitability on a
|
| 891 |
+
seed investment of $650k. They did try to raise a series A in the
|
| 892 |
+
fall of 2008 but (no doubt partly because it was the fall of 2008)
|
| 893 |
+
the terms they were offered were so bad that they decided to skip
|
| 894 |
+
raising an A round.<br /><br />[<a name="f25n"><font color=#000000>25</font></a>]
|
| 895 |
+
Another advantage of having one founder take fundraising
|
| 896 |
+
meetings is that you never have to negotiate in real time, which
|
| 897 |
+
is something inexperienced founders should avoid. One YC founder
|
| 898 |
+
told me:
|
| 899 |
+
<blockquote>
|
| 900 |
+
Investors are professional negotiators and can negotiate on the
|
| 901 |
+
spot very easily. If only one founder is in the room, you can
|
| 902 |
+
say "I need to circle back with my co-founder" before making any
|
| 903 |
+
commitments. I used to do this all the time.
|
| 904 |
+
</blockquote>
|
| 905 |
+
[<a name="f26n"><font color=#000000>26</font></a>]
|
| 906 |
+
You'll be lucky if fundraising feels pleasant enough to become
|
| 907 |
+
addictive. More often you have to worry about the other
|
| 908 |
+
extreme — becoming demoralized when investors reject you. As
|
| 909 |
+
one (very successful) YC founder wrote after reading a draft of
|
| 910 |
+
this:
|
| 911 |
+
<blockquote>
|
| 912 |
+
It's hard to mentally deal with the sheer scale of rejection in
|
| 913 |
+
fundraising and if you are not in the right mindset you will fail.
|
| 914 |
+
Users may love you but these supposedly smart investors may not
|
| 915 |
+
understand you at all. At this point for me, rejection still
|
| 916 |
+
rankles but I've come to accept that investors are just not super
|
| 917 |
+
thoughtful for the most part and you need to play the game according
|
| 918 |
+
to certain somewhat depressing rules (many of which you are
|
| 919 |
+
listing) in order to win.
|
| 920 |
+
</blockquote>
|
| 921 |
+
[<a name="f27n"><font color=#000000>27</font></a>]
|
| 922 |
+
The actual sentence in the King James Bible is "Pride goeth
|
| 923 |
+
before destruction, and an haughty spirit before a fall."<br /><br /><b>Thanks</b> to Slava Akhmechet, Sam Altman, Nate Blecharczyk,
|
| 924 |
+
Adora Cheung, Bill Clerico, John Collison, Patrick Collison, Parker
|
| 925 |
+
Conrad, Ron Conway, Travis Deyle, Jason Freedman, Joe Gebbia, Mattan
|
| 926 |
+
Griffel, Kevin Hale, Jacob Heller, Ian Hogarth, Justin Kan, Professor
|
| 927 |
+
Moriarty, Nikhil Nirmel, David Petersen, Geoff Ralston, Joshua
|
| 928 |
+
Reeves, Yuri Sagalov, Emmett Shear, Rajat Suri, Garry Tan, and Nick
|
| 929 |
+
Tomarello for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://alef-null.blogspot.ru/2014/03/blog-post_26.html">Russian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 930 |
+
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+
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+
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| 933 |
+
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| 934 |
+
|
| 935 |
+
<script type="text/javascript">
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| 936 |
+
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| 937 |
+
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| 938 |
+
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| 939 |
+
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| 940 |
+
}
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+
}
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| 942 |
+
};
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+
document.addEventListener('readystatechange', event => {
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+
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| 949 |
+
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| 950 |
+
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+
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|
| 952 |
+
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|
| 953 |
+
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| 954 |
+
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+
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| 956 |
+
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+
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+
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+
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| 960 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 961 |
+
</script>
|
| 962 |
+
<script type="text/javascript">
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| 963 |
+
// Begin Store Generated Code
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| 964 |
+
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|
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+
</script>
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+
<script type="text/javascript">
|
| 967 |
+
// Begin Store Generated Code
|
| 968 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 969 |
+
</script>
|
| 970 |
+
<script type="text/javascript">
|
| 971 |
+
// Begin Store Generated Code
|
| 972 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=fr&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 973 |
+
</script>
|
| 974 |
+
</html>
|
| 975 |
+
<!-- html108.prod.store.e1a.lumsb.com Sun Aug 24 02:50:48 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/future.html
ADDED
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|
| 1 |
+
<html><head><title>The Future of Startup Funding </title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc119><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc119 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/the-future-of-startup-funding-2.gif" width="245" height="18" border="0" hspace="0" vspace="0" alt="The Future of Startup Funding " /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
August 2010<br /><br />Two years ago I
|
| 14 |
+
<a
|
| 15 |
+
href="http://www.paulgraham.com/googles.html#next">wrote</a> about what I called "<xa
|
| 16 |
+
href="http://www.paulgraham.com/googles.html#next">a huge, unexploited
|
| 17 |
+
opportunity in startup funding</a>:" the growing disconnect between
|
| 18 |
+
VCs, whose current business model requires them to invest large
|
| 19 |
+
amounts, and a large class of startups that need less than they
|
| 20 |
+
used to. Increasingly, startups want a couple hundred thousand
|
| 21 |
+
dollars, not a couple million.
|
| 22 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />The opportunity is a lot less unexploited now. Investors have
|
| 23 |
+
poured into this territory from both directions. VCs are much more
|
| 24 |
+
likely to make angel-sized investments than they were a year ago.
|
| 25 |
+
And meanwhile the past year has seen a dramatic increase in a new
|
| 26 |
+
type of investor: the super-angel, who operates like an angel, but
|
| 27 |
+
using other people's money, like a VC.<br /><br />Though a lot of investors are entering this territory, there is
|
| 28 |
+
still room for more. The distribution of investors should mirror
|
| 29 |
+
the distribution of startups, which has the usual power law dropoff.
|
| 30 |
+
So there should be a lot more people investing tens or hundreds of
|
| 31 |
+
thousands than millions.
|
| 32 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br />In fact, it may be good for angels that there are more people doing
|
| 33 |
+
angel-sized deals, because if angel rounds become more legitimate,
|
| 34 |
+
then startups may start to opt for angel rounds even when they
|
| 35 |
+
could, if they wanted, raise series A rounds from VCs. One reason
|
| 36 |
+
startups prefer series A rounds is that they're more prestigious.
|
| 37 |
+
But if angel investors become more active and better known, they'll
|
| 38 |
+
increasingly be able to compete with VCs in brand.<br /><br />Of course, prestige isn't the main reason to prefer a series A
|
| 39 |
+
round. A startup will probably get more attention from investors
|
| 40 |
+
in a series A round than an angel round. So if a startup is choosing
|
| 41 |
+
between an angel round and an A round from a good VC fund, I usually
|
| 42 |
+
advise them to take the A round.
|
| 43 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font><br /><br />But while series A rounds aren't going away, I think VCs should be
|
| 44 |
+
more worried about super-angels than vice versa. Despite their
|
| 45 |
+
name, the super-angels are really mini VC funds, and they clearly
|
| 46 |
+
have existing VCs in their sights.<br /><br />They would seem to have history on their side.
|
| 47 |
+
The pattern here seems the same
|
| 48 |
+
one we see when startups and established companies enter a new
|
| 49 |
+
market. Online video becomes possible, and YouTube plunges right
|
| 50 |
+
in, while existing media companies embrace it only half-willingly,
|
| 51 |
+
driven more by fear than hope, and aiming more to protect their
|
| 52 |
+
turf than to do great things for users. Ditto for PayPal. This
|
| 53 |
+
pattern is repeated over and over, and it's usually the invaders
|
| 54 |
+
who win. In this case the super-angels are the invaders. Angel
|
| 55 |
+
rounds are their whole business, as online video was for YouTube.
|
| 56 |
+
Whereas VCs who make angel investments mostly do it as a way to
|
| 57 |
+
generate deal flow for series A rounds.
|
| 58 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font><br /><br />On the other hand, startup investing is a very strange business.
|
| 59 |
+
Nearly all the returns are concentrated in a few big winners. If
|
| 60 |
+
the super-angels merely fail to invest in (and to some extent
|
| 61 |
+
produce) the big winners, they'll be out of business, even if they
|
| 62 |
+
invest in all the others.<br /><br /><b>VCs</b><br /><br />Why don't VCs start doing smaller series A rounds? The sticking
|
| 63 |
+
point is board seats. In a traditional series A round, the partner
|
| 64 |
+
whose deal it is takes a seat on the startup's board. If we assume
|
| 65 |
+
the average startup runs for 6 years and a partner can bear to be
|
| 66 |
+
on 12 boards at once, then a VC fund can do 2 series A deals per
|
| 67 |
+
partner per year.<br /><br />It has always seemed to me the solution is to take fewer board
|
| 68 |
+
seats. You don't have to be on the board to help a startup. Maybe
|
| 69 |
+
VCs feel they need the power that comes with board membership to
|
| 70 |
+
ensure their money isn't wasted. But have they tested that theory?
|
| 71 |
+
Unless they've tried not taking board seats and found their returns
|
| 72 |
+
are lower, they're not bracketing the problem.<br /><br />I'm not saying VCs don't help startups. The good ones help them a
|
| 73 |
+
lot. What I'm saying is that the kind of help that matters, you
|
| 74 |
+
may not have to be a board member to give.
|
| 75 |
+
<font color=#999999>[<a href="#f5n"><font color=#999999>5</font></a>]</font><br /><br />How will this all play out? Some VCs will probably adapt, by doing
|
| 76 |
+
more, smaller deals. I wouldn't be surprised if by streamlining
|
| 77 |
+
their selection process and taking fewer board seats, VC funds could
|
| 78 |
+
do 2 to 3 times as many series A rounds with no loss of quality.<br /><br />But other VCs will make no more than superficial changes. VCs are
|
| 79 |
+
conservative, and the threat to them isn't mortal. The VC funds
|
| 80 |
+
that don't adapt won't be violently displaced. They'll edge gradually
|
| 81 |
+
into a different business without realizing it. They'll still do
|
| 82 |
+
what they will call series A rounds, but these will increasingly
|
| 83 |
+
be de facto series B rounds.
|
| 84 |
+
<font color=#999999>[<a href="#f6n"><font color=#999999>6</font></a>]</font><br /><br />In such rounds they won't get the 25 to 40% of the company they do
|
| 85 |
+
now. You don't give up as much of the company in later rounds
|
| 86 |
+
unless something is seriously wrong. Since the VCs who don't adapt
|
| 87 |
+
will be investing later, their returns from winners may be smaller.
|
| 88 |
+
But investing later should also mean they have fewer losers. So
|
| 89 |
+
their ratio of risk to return may be the same or even better.
|
| 90 |
+
They'll just have become a different, more conservative, type of
|
| 91 |
+
investment.<br /><br /><b>Angels</b><br /><br />In the big angel rounds that increasingly compete with series A
|
| 92 |
+
rounds, the investors won't take as much equity as VCs do now. And
|
| 93 |
+
VCs who try to compete with angels by doing more, smaller deals
|
| 94 |
+
will probably find they have to take less equity to do it. Which
|
| 95 |
+
is good news for founders: they'll get to keep more of the company.<br /><br />The deal terms of angel rounds will become less restrictive
|
| 96 |
+
too—not just less restrictive than series A terms, but less
|
| 97 |
+
restrictive than angel terms have traditionally been.<br /><br />In the future, angel rounds will less often be for specific amounts
|
| 98 |
+
or have a lead investor. In the old days, the standard m.o. for
|
| 99 |
+
startups was to find one angel to act as the lead investor. You'd
|
| 100 |
+
negotiate a round size and valuation with the lead, who'd supply
|
| 101 |
+
some but not all of the money. Then the startup and the lead would
|
| 102 |
+
cooperate to find the rest.<br /><br />The future of angel rounds looks more like this: instead of a fixed
|
| 103 |
+
round size, startups will do a rolling close, where they take money
|
| 104 |
+
from investors one at a time till they feel they have enough.
|
| 105 |
+
<font color=#999999>[<a href="#f7n"><font color=#999999>7</font></a>]</font>
|
| 106 |
+
And though there's going to be one investor who gives them the first
|
| 107 |
+
check, and his or her help in recruiting other investors will
|
| 108 |
+
certainly be welcome, this initial investor will no longer be the
|
| 109 |
+
lead in the old sense of managing the round. The startup will now
|
| 110 |
+
do that themselves.<br /><br />There will continue to be lead investors in the sense of investors
|
| 111 |
+
who take the lead in <i>advising</i> a startup. They may also make
|
| 112 |
+
the biggest investment. But they won't always have to be the one
|
| 113 |
+
terms are negotiated with, or be the first money in, as they have
|
| 114 |
+
in the past. Standardized paperwork will do away with the need to
|
| 115 |
+
negotiate anything except the valuation, and that will get easier
|
| 116 |
+
too.<br /><br />If multiple investors have to share a valuation, it will be whatever
|
| 117 |
+
the startup can get from the first one to write a check, limited
|
| 118 |
+
by their guess at whether this will make later investors balk. But
|
| 119 |
+
there may not have to be just one valuation. Startups are increasingly
|
| 120 |
+
raising money on convertible notes, and convertible notes have not
|
| 121 |
+
valuations but at most valuation <i>caps</i>: caps on what the
|
| 122 |
+
effective valuation will be when the debt converts to equity (in a
|
| 123 |
+
later round, or upon acquisition if that happens first). That's
|
| 124 |
+
an important difference because it means a startup could do multiple
|
| 125 |
+
notes at once with different caps. This is now starting to happen,
|
| 126 |
+
and I predict it will become more common.<br /><br /><b>Sheep</b><br /><br />The reason things are moving this way is that the old way sucked
|
| 127 |
+
for startups. Leads could (and did) use a fixed size round as a
|
| 128 |
+
legitimate-seeming way of saying what all founders hate to hear:
|
| 129 |
+
I'll invest if other people will. Most investors, unable to judge
|
| 130 |
+
startups for themselves, rely instead on the opinions of other
|
| 131 |
+
investors. If everyone wants in, they want in too; if not, not.
|
| 132 |
+
Founders hate this because it's a recipe for deadlock, and delay
|
| 133 |
+
is the thing a startup can least afford. Most investors know this
|
| 134 |
+
m.o. is lame, and few say openly that they're doing it. But the
|
| 135 |
+
craftier ones achieve the same result by offering to lead rounds
|
| 136 |
+
of fixed size and supplying only part of the money. If the startup
|
| 137 |
+
can't raise the rest, the lead is out too. How could they go ahead
|
| 138 |
+
with the deal? The startup would be underfunded!<br /><br />In the future, investors will increasingly be unable to offer
|
| 139 |
+
investment subject to contingencies like other people investing.
|
| 140 |
+
Or rather, investors who do that will get last place in line.
|
| 141 |
+
Startups will go to them only to fill up rounds that are mostly
|
| 142 |
+
subscribed. And since hot startups tend to have rounds that are
|
| 143 |
+
oversubscribed, being last in line means they'll probably miss the
|
| 144 |
+
hot deals. Hot deals and successful startups are not identical,
|
| 145 |
+
but there is a significant correlation.
|
| 146 |
+
<font color=#999999>[<a href="#f8n"><font color=#999999>8</font></a>]</font>
|
| 147 |
+
So investors who won't invest unilaterally will have lower returns.<br /><br />Investors will probably find they do better when deprived of this
|
| 148 |
+
crutch anyway. Chasing hot deals doesn't make investors choose
|
| 149 |
+
better; it just makes them feel better about their choices. I've
|
| 150 |
+
seen feeding frenzies both form and fall apart many times, and as
|
| 151 |
+
far as I can tell they're mostly random.
|
| 152 |
+
<font color=#999999>[<a href="#f9n"><font color=#999999>9</font></a>]</font>
|
| 153 |
+
If investors can
|
| 154 |
+
no longer rely on their herd instincts, they'll have to think more
|
| 155 |
+
about each startup before investing. They may be surprised how
|
| 156 |
+
well this works.<br /><br />Deadlock wasn't the only disadvantage of letting a lead investor
|
| 157 |
+
manage an angel round. The investors would not infrequently collude
|
| 158 |
+
to push down the valuation. And rounds took too long to close,
|
| 159 |
+
because however motivated the lead was to get the round closed, he
|
| 160 |
+
was not a tenth as motivated as the startup.<br /><br />Increasingly, startups are taking charge of their own angel rounds.
|
| 161 |
+
Only a few do so far, but I think we can already declare the old
|
| 162 |
+
way dead, because those few are the best startups. They're the
|
| 163 |
+
ones in a position to tell investors how the round is going to work.
|
| 164 |
+
And if the startups you want to invest in do things a certain way,
|
| 165 |
+
what difference does it make what the others do?<br /><br /><b>Traction</b><br /><br />In fact, it may be slightly misleading to say that angel rounds
|
| 166 |
+
will increasingly take the place of series A rounds. What's really
|
| 167 |
+
happening is that startup-controlled rounds are taking the place
|
| 168 |
+
of investor-controlled rounds.<br /><br />This is an instance of a very important meta-trend, one that Y
|
| 169 |
+
Combinator itself has been based on from the beginning: founders
|
| 170 |
+
are becoming increasingly powerful relative to investors. So if
|
| 171 |
+
you want to predict what the future of venture funding will be like,
|
| 172 |
+
just ask: how would founders like it to be? One by one, all the
|
| 173 |
+
things founders dislike about raising money are going to get
|
| 174 |
+
eliminated.
|
| 175 |
+
<font color=#999999>[<a href="#f10n"><font color=#999999>10</font></a>]</font><br /><br />Using that heuristic, I'll predict a couple more things. One is
|
| 176 |
+
that investors will increasingly be unable to wait for startups to
|
| 177 |
+
have "traction" before they put in significant money. It's hard
|
| 178 |
+
to predict in advance which startups will succeed. So most investors
|
| 179 |
+
prefer, if they can, to wait till the startup is already succeeding,
|
| 180 |
+
then jump in quickly with an offer. Startups hate this as well,
|
| 181 |
+
partly because it tends to create deadlock, and partly because it
|
| 182 |
+
seems kind of slimy. If you're a promising startup but don't yet
|
| 183 |
+
have significant growth, all the investors are your friends in
|
| 184 |
+
words, but few are in actions. They all say they love you, but
|
| 185 |
+
they all wait to invest. Then when you start to see growth, they
|
| 186 |
+
claim they were your friend all along, and are aghast at the thought
|
| 187 |
+
you'd be so disloyal as to leave them out of your round. If founders
|
| 188 |
+
become more powerful, they'll be able to make investors give them
|
| 189 |
+
more money upfront.<br /><br />(The worst variant of this behavior is the tranched deal, where the
|
| 190 |
+
investor makes a small initial investment, with more to follow if
|
| 191 |
+
the startup does well. In effect, this structure gives the investor
|
| 192 |
+
a free option on the next round, which they'll only take if it's
|
| 193 |
+
worse for the startup than they could get in the open market.
|
| 194 |
+
Tranched deals are an abuse. They're increasingly rare, and they're
|
| 195 |
+
going to get rarer.)
|
| 196 |
+
<font color=#999999>[<a href="#f11n"><font color=#999999>11</font></a>]</font><br /><br />Investors don't like trying to predict which startups will succeed,
|
| 197 |
+
but increasingly they'll have to. Though the way that happens won't
|
| 198 |
+
necessarily be that the behavior of existing investors will change;
|
| 199 |
+
it may instead be that they'll be replaced by other investors with
|
| 200 |
+
different behavior—that investors who understand startups
|
| 201 |
+
well enough to take on the hard problem of predicting their trajectory
|
| 202 |
+
will tend to displace suits whose skills lie more in raising money
|
| 203 |
+
from LPs.<br /><br /><b>Speed</b><br /><br />The other thing founders hate most about fundraising is how long
|
| 204 |
+
it takes. So as founders become more powerful, rounds should start
|
| 205 |
+
to close faster.<br /><br />Fundraising is still terribly distracting for startups. If you're
|
| 206 |
+
a founder in the middle of raising a round, the round is the <a
|
| 207 |
+
href="top.html">top idea in your mind</a>, which means working on the
|
| 208 |
+
company isn't. If a round takes 2 months to close, which is
|
| 209 |
+
reasonably fast by present standards, that means 2 months during
|
| 210 |
+
which the company is basically treading water. That's the worst
|
| 211 |
+
thing a startup could do.<br /><br />So if investors want to get the best deals, the way to do it will
|
| 212 |
+
be to close faster. Investors don't need weeks to make up their
|
| 213 |
+
minds anyway. We decide based on about 10 minutes of reading an
|
| 214 |
+
application plus 10 minutes of in person interview, and we only
|
| 215 |
+
regret about 10% of our decisions. If we can decide in 20 minutes,
|
| 216 |
+
surely the next round of investors can decide in a couple days.
|
| 217 |
+
<font color=#999999>[<a href="#f12n"><font color=#999999>12</font></a>]</font><br /><br />There are a lot of institutionalized delays in startup funding: the
|
| 218 |
+
multi-week mating dance with investors; the distinction between
|
| 219 |
+
termsheets and deals; the fact that each series A has enormously
|
| 220 |
+
elaborate, custom paperwork. Both founders and investors tend to
|
| 221 |
+
take these for granted. It's the way things have always been. But
|
| 222 |
+
ultimately the reason these delays exist is that they're to the
|
| 223 |
+
advantage of investors. More time gives investors more information
|
| 224 |
+
about a startup's trajectory, and it also tends to make startups
|
| 225 |
+
more pliable in negotiations, since they're usually short of money.<br /><br />These conventions weren't designed to drag out the funding process,
|
| 226 |
+
but that's why they're allowed to persist. Slowness is to the
|
| 227 |
+
advantage of investors, who have in the past been the ones with the
|
| 228 |
+
most power. But there is no need for rounds to take months or even
|
| 229 |
+
weeks to close, and once founders realize that, it's going to stop.
|
| 230 |
+
Not just in angel rounds, but in series A rounds too. The future
|
| 231 |
+
is simple deals with standard terms, done quickly.<br /><br />One minor abuse that will get corrected in the process is option
|
| 232 |
+
pools. In a traditional series A round, before the VCs invest they
|
| 233 |
+
make the company set aside a block of stock for future hires—usually
|
| 234 |
+
between 10 and 30% of the company. The point is to ensure this
|
| 235 |
+
dilution is borne by the existing shareholders. The practice isn't
|
| 236 |
+
dishonest; founders know what's going on. But it makes deals
|
| 237 |
+
unnecessarily complicated. In effect the valuation is 2 numbers.
|
| 238 |
+
There's no need to keep doing this.
|
| 239 |
+
<font color=#999999>[<a href="#f13n"><font color=#999999>13</font></a>]</font><br /><br />The final thing founders want is to be able to sell some of
|
| 240 |
+
their own stock in later rounds. This won't be a change,
|
| 241 |
+
because the practice is now quite common. A lot of investors
|
| 242 |
+
hated the idea, but the world hasn't exploded as a result,
|
| 243 |
+
so it will happen more, and more openly.<br /><br /><b>Surprise</b><br /><br />I've talked here about a bunch of changes that will be forced on
|
| 244 |
+
investors as founders become more powerful. Now the good news:
|
| 245 |
+
investors may actually make more money as a result.<br /><br />A couple days ago an interviewer
|
| 246 |
+
<a href="http://techcrunch.tv/watch?id=Q3amZtMTryrpiP80cbUtsV2ah92eZP2m">asked
|
| 247 |
+
me</a> if founders having more
|
| 248 |
+
power would be better or worse for the world. I was surprised,
|
| 249 |
+
because I'd never considered that question. Better or worse, it's
|
| 250 |
+
happening. But after a second's reflection, the answer seemed
|
| 251 |
+
obvious. Founders understand their companies better than investors,
|
| 252 |
+
and it has to be better if the people with more knowledge have more
|
| 253 |
+
power.<br /><br />One of the mistakes novice pilots make is overcontrolling the
|
| 254 |
+
aircraft: applying corrections too vigorously, so the aircraft
|
| 255 |
+
oscillates about the desired configuration instead of approaching
|
| 256 |
+
it asymptotically. It seems probable that investors have till now
|
| 257 |
+
on average been overcontrolling their portfolio companies. In a
|
| 258 |
+
lot of startups, the biggest source of stress for the founders is
|
| 259 |
+
not competitors but investors. Certainly it was for us at Viaweb.
|
| 260 |
+
And this is not a new phenomenon: investors were James Watt's biggest
|
| 261 |
+
problem too. If having less power prevents investors from
|
| 262 |
+
overcontrolling startups, it should be better not just for founders
|
| 263 |
+
but for investors too.<br /><br />Investors may end up with less stock per startup, but startups will
|
| 264 |
+
probably do better with founders more in control, and there will
|
| 265 |
+
almost certainly be more of them. Investors all compete with one
|
| 266 |
+
another for deals, but they aren't one another's main competitor.
|
| 267 |
+
Our main competitor is employers. And so far that competitor is
|
| 268 |
+
crushing us. Only a tiny fraction of people who could start a
|
| 269 |
+
startup do. Nearly all customers choose the competing product, a
|
| 270 |
+
job. Why? Well, let's look at the product we're offering. An
|
| 271 |
+
unbiased review would go something like this:
|
| 272 |
+
<blockquote>
|
| 273 |
+
Starting a startup gives you more freedom and the opportunity to
|
| 274 |
+
make a lot more money than a job, but it's also hard work and at
|
| 275 |
+
times very stressful.
|
| 276 |
+
</blockquote>
|
| 277 |
+
Much of the stress comes from dealing with investors. If reforming
|
| 278 |
+
the investment process removed that stress, we'd make our product
|
| 279 |
+
much more attractive. The kind of people who make good startup
|
| 280 |
+
founders don't mind dealing with technical problems—they enjoy
|
| 281 |
+
technical problems—but they hate the type of problems investors
|
| 282 |
+
cause.<br /><br />Investors have no
|
| 283 |
+
idea that when they maltreat one startup, they're preventing 10
|
| 284 |
+
others from happening, but they are. Indirectly, but they are. So
|
| 285 |
+
when investors stop trying to squeeze a little more out of their
|
| 286 |
+
existing deals, they'll find they're net ahead, because so many
|
| 287 |
+
more new deals appear.<br /><br />One of our axioms at Y Combinator is not to think of deal flow as
|
| 288 |
+
a zero-sum game. Our main focus is to encourage more startups to happen,
|
| 289 |
+
not to win a larger share of the existing stream. We've found this
|
| 290 |
+
principle very useful, and we think as it spreads outward it will
|
| 291 |
+
help later stage investors as well.<br /><br />"Make something people want"
|
| 292 |
+
applies to us too.<br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 293 |
+
In this essay I'm talking mainly about software startups.
|
| 294 |
+
These points don't apply to types of startups that are still expensive
|
| 295 |
+
to start, e.g. in energy or biotech.<br /><br />Even the cheap kinds of startups will generally raise large amounts
|
| 296 |
+
at some point, when they want to hire a lot of people. What has
|
| 297 |
+
changed is how much they can get done before that.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 298 |
+
It's not the distribution of good startups that has a power
|
| 299 |
+
law dropoff, but the distribution of potentially good startups,
|
| 300 |
+
which is to say, good deals. There are lots of potential winners,
|
| 301 |
+
from which a few actual winners emerge with superlinear certainty.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 302 |
+
As I was writing this, I asked some founders who'd taken
|
| 303 |
+
series A rounds from top VC funds whether it was worth it, and they
|
| 304 |
+
unanimously said yes.<br /><br />The quality of investor is more important than the type of round,
|
| 305 |
+
though. I'd take an angel round from good angels over a series A
|
| 306 |
+
from a mediocre VC.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 307 |
+
Founders also worry that taking an angel investment from a
|
| 308 |
+
VC means they'll look bad if the VC declines to participate in the
|
| 309 |
+
next round. The trend of VC angel investing is so new that it's
|
| 310 |
+
hard to say how justified this worry is.<br /><br />Another danger, pointed out by Mitch Kapor, is that if VCs are only
|
| 311 |
+
doing angel deals to generate series A deal flow, then their
|
| 312 |
+
incentives aren't aligned with the founders'. The founders want
|
| 313 |
+
the valuation of the next round to be high, and the VCs want it to
|
| 314 |
+
be low. Again, hard to say yet how much of a problem this will be.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 315 |
+
Josh Kopelman pointed out that another way to be on fewer
|
| 316 |
+
boards at once is to take board seats for shorter periods.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 317 |
+
Google was in this respect as so many others the pattern for
|
| 318 |
+
the future. It would be great for VCs if the similarity extended
|
| 319 |
+
to returns. That's probably too much to hope for, but the returns
|
| 320 |
+
may be somewhat higher, as I explain later.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 321 |
+
Doing a rolling close doesn't mean the company is always
|
| 322 |
+
raising money. That would be a distraction. The point of a rolling
|
| 323 |
+
close is to make fundraising take less time, not more. With a
|
| 324 |
+
classic fixed sized round, you don't get any money till all the
|
| 325 |
+
investors agree, and that often creates a situation where they all
|
| 326 |
+
sit waiting for the others to act. A rolling close usually prevents
|
| 327 |
+
this.<br /><br /><!-- [<a name="f8n"><font color=#000000>8</font></a>]
|
| 328 |
+
Jeff Clavier pointed out a tax disadvantage of convertible
|
| 329 |
+
notes: they don't start the long term capital gains clock. So
|
| 330 |
+
perhaps the ultimate solution, after investors have been conditioned
|
| 331 |
+
to do simpler deals with multiple caps by convertible notes, is
|
| 332 |
+
eventually to do equity rounds that approach the same simplicity
|
| 333 |
+
and flexibility.
|
| 334 |
+
-->
|
| 335 |
+
[<a name="f8n"><font color=#000000>8</font></a>]
|
| 336 |
+
There are two (non-exclusive) causes of hot deals: the quality
|
| 337 |
+
of the company, and domino effects among investors. The former is
|
| 338 |
+
obviously a better predictor of success.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 339 |
+
Some of the randomness is concealed by the fact that investment
|
| 340 |
+
is a self fulfilling prophecy.<br /><br />[<a name="f10n"><font color=#000000>10</font></a>]
|
| 341 |
+
The shift in power to founders is exaggerated now because
|
| 342 |
+
it's a seller's market. On the next downtick it will seem like I
|
| 343 |
+
overstated the case. But on the next uptick after that, founders
|
| 344 |
+
will seem more powerful than ever.<br /><br />[<a name="f11n"><font color=#000000>11</font></a>]
|
| 345 |
+
More generally, it will become less common for the same
|
| 346 |
+
investor to invest in successive rounds, except when exercising an
|
| 347 |
+
option to maintain their percentage. When the same investor invests
|
| 348 |
+
in successive rounds, it often means the startup isn't getting
|
| 349 |
+
market price. They may not care; they may prefer to work with an
|
| 350 |
+
investor they already know; but as the investment market becomes
|
| 351 |
+
more efficient, it will become increasingly easy to get market price
|
| 352 |
+
if they want it. Which in turn means the investment community will
|
| 353 |
+
tend to become more stratified.<br /><br />[<a name="f12n"><font color=#000000>12</font></a>]
|
| 354 |
+
The two 10 minuteses have 3 weeks between them so founders
|
| 355 |
+
can get cheap plane tickets, but except for that they could be
|
| 356 |
+
adjacent.<br /><br />[<a name="f13n"><font color=#000000>13</font></a>]
|
| 357 |
+
I'm not saying option pools themselves will go away. They're
|
| 358 |
+
an administrative convenience. What will go away is investors
|
| 359 |
+
requiring them.<br /><br /><br /><br />
|
| 360 |
+
<b>Thanks</b> to Sam Altman, John Bautista, Trevor Blackwell,
|
| 361 |
+
Paul Buchheit, Jeff Clavier,
|
| 362 |
+
Patrick Collison, Ron Conway, Matt Cohler, Chris Dixon, Mitch Kapor,
|
| 363 |
+
Josh Kopelman, Pete Koomen, Carolynn Levy, Jessica Livingston, Ariel
|
| 364 |
+
Poler, Geoff Ralston, Naval Ravikant, Dan Siroker, Harj Taggar, and
|
| 365 |
+
Fred Wilson
|
| 366 |
+
for reading drafts of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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| 367 |
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platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/genius.html
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| 1 |
+
<html><head><title>The Bus Ticket Theory of Genius</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc57><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc57 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/the-bus-ticket-theory-of-genius-4.gif" width="261" height="18" border="0" hspace="0" vspace="0" alt="The Bus Ticket Theory of Genius" /><br /><br /><font size="2" face="verdana">November 2019<br /><br />Everyone knows that to do great work you need both natural ability
|
| 4 |
+
and determination. But there's a third ingredient that's not as
|
| 5 |
+
well understood: an obsessive interest in a particular topic.<br /><br />To explain this point I need to burn my reputation with some group
|
| 6 |
+
of people, and I'm going to choose bus ticket collectors. There
|
| 7 |
+
are people who collect old bus tickets. Like many collectors, they
|
| 8 |
+
have an obsessive interest in the minutiae of what they collect.
|
| 9 |
+
They can keep track of distinctions between different types of bus
|
| 10 |
+
tickets that would be hard for the rest of us to remember. Because
|
| 11 |
+
we don't care enough. What's the point of spending so much time
|
| 12 |
+
thinking about old bus tickets?<br /><br />Which leads us to the second feature of this kind of obsession:
|
| 13 |
+
there is no point. A bus ticket collector's love is disinterested.
|
| 14 |
+
They're not doing it to impress us or to make themselves rich, but
|
| 15 |
+
for its own sake.<br /><br />When you look at the lives of people who've done great work, you
|
| 16 |
+
see a consistent pattern. They often begin with a bus ticket
|
| 17 |
+
collector's obsessive interest in something that would have seemed
|
| 18 |
+
pointless to most of their contemporaries. One of the most striking
|
| 19 |
+
features of Darwin's book about his voyage on the Beagle is the
|
| 20 |
+
sheer depth of his interest in natural history. His curiosity seems
|
| 21 |
+
infinite. Ditto for Ramanujan, sitting by the hour working out on
|
| 22 |
+
his slate what happens to series.<br /><br />It's a mistake to think they were "laying the groundwork" for the
|
| 23 |
+
discoveries they made later. There's too much intention in that
|
| 24 |
+
metaphor. Like bus ticket collectors, they were doing it
|
| 25 |
+
because they liked it.<br /><br />But there is a difference between Ramanujan and a bus ticket
|
| 26 |
+
collector. Series matter, and bus tickets don't.<br /><br />If I had to put the recipe for genius into one sentence, that might
|
| 27 |
+
be it: to have a disinterested obsession with something that matters.<br /><br />Aren't I forgetting about the other two ingredients? Less than you
|
| 28 |
+
might think. An obsessive interest in a topic is both a proxy for
|
| 29 |
+
ability and a substitute for determination. Unless you have
|
| 30 |
+
sufficient mathematical aptitude, you won't find series interesting.
|
| 31 |
+
And when you're obsessively interested in something, you don't need
|
| 32 |
+
as much determination: you don't need to push yourself as hard when
|
| 33 |
+
curiosity is pulling you.<br /><br />An obsessive interest will even bring you luck, to the extent
|
| 34 |
+
anything can. Chance, as Pasteur said, favors the prepared mind,
|
| 35 |
+
and if there's one thing an obsessed mind is, it's prepared.<br /><br />The disinterestedness of this kind of obsession is its most important
|
| 36 |
+
feature. Not just because it's a filter for earnestness, but because
|
| 37 |
+
it helps you discover new ideas.<br /><br />The paths that lead to new ideas tend to look unpromising. If they
|
| 38 |
+
looked promising, other people would already have explored them.
|
| 39 |
+
How do the people who do great work discover these paths that others
|
| 40 |
+
overlook? The popular story is that they simply have better vision:
|
| 41 |
+
because they're so talented, they see paths that others miss. But
|
| 42 |
+
if you look at the way great discoveries are made, that's not what
|
| 43 |
+
happens. Darwin didn't pay closer attention to individual species
|
| 44 |
+
than other people because he saw that this would lead to great
|
| 45 |
+
discoveries, and they didn't. He was just really, really interested
|
| 46 |
+
in such things.<br /><br />Darwin couldn't turn it off. Neither could Ramanujan. They didn't
|
| 47 |
+
discover the hidden paths that they did because they seemed promising,
|
| 48 |
+
but because they couldn't help it. That's what allowed them to
|
| 49 |
+
follow paths that someone who was merely ambitious would have
|
| 50 |
+
ignored.<br /><br />What rational person would decide that the way to write great novels
|
| 51 |
+
was to begin by spending several years creating an imaginary elvish
|
| 52 |
+
language, like Tolkien, or visiting every household in southwestern
|
| 53 |
+
Britain, like Trollope? No one, including Tolkien and Trollope.<br /><br />The bus ticket theory is similar to Carlyle's famous definition of
|
| 54 |
+
genius as an infinite capacity for taking pains. But there are two
|
| 55 |
+
differences. The bus ticket theory makes it clear that the source
|
| 56 |
+
of this infinite capacity for taking pains is not infinite diligence,
|
| 57 |
+
as Carlyle seems to have meant, but the sort of infinite interest
|
| 58 |
+
that collectors have. It also adds an important qualification: an
|
| 59 |
+
infinite capacity for taking pains about something that matters.<br /><br />So what matters? You can never be sure. It's precisely because no
|
| 60 |
+
one can tell in advance which paths are promising that you can
|
| 61 |
+
discover new ideas by working on what you're interested in.<br /><br />But there are some heuristics you can use to guess whether an
|
| 62 |
+
obsession might be one that matters. For example, it's more promising
|
| 63 |
+
if you're creating something, rather than just consuming something
|
| 64 |
+
someone else creates. It's more promising if something you're
|
| 65 |
+
interested in is difficult, especially if it's <a href="work.html"><u>more difficult for
|
| 66 |
+
other people</u></a> than it is for you. And the obsessions of talented
|
| 67 |
+
people are more likely to be promising. When talented people become
|
| 68 |
+
interested in random things, they're not truly random.<br /><br />But you can never be sure. In fact, here's an interesting idea
|
| 69 |
+
that's also rather alarming if it's true: it may be that to do great
|
| 70 |
+
work, you also have to waste a lot of time.<br /><br />In many different areas, reward is proportionate to risk. If that
|
| 71 |
+
rule holds here, then the way to find paths that lead to truly great
|
| 72 |
+
work is to be willing to expend a lot of effort on things that turn
|
| 73 |
+
out to be every bit as unpromising as they seem.<br /><br />I'm not sure if this is true. On one hand, it seems surprisingly
|
| 74 |
+
difficult to waste your time so long as you're working hard on
|
| 75 |
+
something interesting. So much of what you do ends up being useful.
|
| 76 |
+
But on the other hand, the rule about the relationship between risk
|
| 77 |
+
and reward is so powerful that it seems to hold wherever risk occurs.
|
| 78 |
+
<a href="disc.html"><u>Newton's</u></a> case, at least, suggests that the risk/reward rule holds
|
| 79 |
+
here. He's famous for one particular obsession of his that turned
|
| 80 |
+
out to be unprecedentedly fruitful: using math to describe the
|
| 81 |
+
world. But he had two other obsessions, alchemy and theology, that
|
| 82 |
+
seem to have been complete wastes of time. He ended up net ahead.
|
| 83 |
+
His bet on what we now call physics paid off so well that it more
|
| 84 |
+
than compensated for the other two. But were the other two necessary,
|
| 85 |
+
in the sense that he had to take big risks to make such big
|
| 86 |
+
discoveries? I don't know.<br /><br />Here's an even more alarming idea: might one make all bad bets? It
|
| 87 |
+
probably happens quite often. But we don't know how often, because
|
| 88 |
+
these people don't become famous.<br /><br />It's not merely that the returns from following a path are hard to
|
| 89 |
+
predict. They change dramatically over time. 1830 was a really good
|
| 90 |
+
time to be obsessively interested in natural history. If Darwin had
|
| 91 |
+
been born in 1709 instead of 1809, we might never have heard of
|
| 92 |
+
him.<br /><br />What can one do in the face of such uncertainty? One solution is
|
| 93 |
+
to hedge your bets, which in this case means to follow the obviously
|
| 94 |
+
promising paths instead of your own private obsessions. But as with
|
| 95 |
+
any hedge, you're decreasing reward when you decrease risk. If you
|
| 96 |
+
forgo working on what you like in order to follow some more
|
| 97 |
+
conventionally ambitious path, you might miss something wonderful
|
| 98 |
+
that you'd otherwise have discovered. That too must happen all the
|
| 99 |
+
time, perhaps even more often than the genius whose bets all fail.<br /><br />The other solution is to let yourself be interested in lots of
|
| 100 |
+
different things. You don't decrease your upside if you switch
|
| 101 |
+
between equally genuine interests based on which seems to be working
|
| 102 |
+
so far. But there is a danger here too: if you work on too many
|
| 103 |
+
different projects, you might not get deeply enough into any of
|
| 104 |
+
them.<br /><br />One interesting thing about the bus ticket theory is that it may
|
| 105 |
+
help explain why different types of people excel at different kinds
|
| 106 |
+
of work. Interest is much more unevenly distributed than ability.
|
| 107 |
+
If natural ability is all you need to do great work, and natural
|
| 108 |
+
ability is evenly distributed, you have to invent elaborate theories
|
| 109 |
+
to explain the skewed distributions we see among those who actually
|
| 110 |
+
do great work in various fields. But it may be that much of the
|
| 111 |
+
skew has a simpler explanation: different people are interested in
|
| 112 |
+
different things.<br /><br />The bus ticket theory also explains why people are less likely to
|
| 113 |
+
do great work after they have children. Here interest has to compete
|
| 114 |
+
not just with external obstacles, but with another interest, and
|
| 115 |
+
one that for most people is extremely powerful. It's harder to find
|
| 116 |
+
time for work after you have kids, but that's the easy part. The
|
| 117 |
+
real change is that you don't <xa href="https://news.gallup.com/poll/186050/children-key-factor-women-desire-work-outside-home.aspx">want</a> to.<br /><br />But the most exciting implication of the bus ticket theory is that
|
| 118 |
+
it suggests ways to encourage great work. If the recipe for genius
|
| 119 |
+
is simply natural ability plus hard work, all we can do is hope we
|
| 120 |
+
have a lot of ability, and work as hard as we can. But if interest
|
| 121 |
+
is a critical ingredient in genius, we may be able, by cultivating
|
| 122 |
+
interest, to cultivate genius.<br /><br />For example, for the very ambitious, the bus ticket theory suggests
|
| 123 |
+
that the way to do great work is to relax a little. Instead of
|
| 124 |
+
gritting your teeth and diligently pursuing what all your peers
|
| 125 |
+
agree is the most promising line of research, maybe you should try
|
| 126 |
+
doing something just for fun. And if you're stuck, that may be the
|
| 127 |
+
vector along which to break out.<br /><br />I've always liked <a href="hamming.html"><u>Hamming's</u></a> famous double-barrelled question: what
|
| 128 |
+
are the most important problems in your field, and why aren't you
|
| 129 |
+
working on one of them? It's a great way to shake yourself up. But
|
| 130 |
+
it may be overfitting a bit. It might be at least as useful to ask
|
| 131 |
+
yourself: if you could take a year off to work on something that
|
| 132 |
+
probably wouldn't be important but would be really interesting,
|
| 133 |
+
what would it be?<br /><br />The bus ticket theory also suggests a way to avoid slowing down as
|
| 134 |
+
you get older. Perhaps the reason people have fewer new ideas as
|
| 135 |
+
they get older is not simply that they're losing their edge. It may
|
| 136 |
+
also be because once you become established, you can no longer mess
|
| 137 |
+
about with irresponsible side projects the way you could when you
|
| 138 |
+
were young and no one cared what you did.<br /><br />The solution to that is obvious: remain irresponsible. It will be
|
| 139 |
+
hard, though, because the apparently random projects you take up
|
| 140 |
+
to stave off decline will read to outsiders as evidence of it. And
|
| 141 |
+
you yourself won't know for sure that they're wrong. But it will
|
| 142 |
+
at least be more fun to work on what you want.<br /><br />It may even be that we can cultivate a habit of intellectual bus
|
| 143 |
+
ticket collecting in kids. The usual plan in education is to start
|
| 144 |
+
with a broad, shallow focus, then gradually become more specialized.
|
| 145 |
+
But I've done the opposite with my kids. I know I can count on their
|
| 146 |
+
school to handle the broad, shallow part, so I take them deep.<br /><br />When they get interested in something, however random, I encourage
|
| 147 |
+
them to go preposterously, bus ticket collectorly, deep. I don't
|
| 148 |
+
do this because of the bus ticket theory. I do it because I want
|
| 149 |
+
them to feel the joy of learning, and they're never going to feel
|
| 150 |
+
that about something I'm making them learn. It has to be something
|
| 151 |
+
they're interested in. I'm just following the path of least resistance;
|
| 152 |
+
depth is a byproduct. But if in trying to show them the joy of
|
| 153 |
+
learning I also end up training them to go deep, so much the better.<br /><br />Will it have any effect? I have no idea. But that uncertainty may
|
| 154 |
+
be the most interesting point of all. There is so much more to learn
|
| 155 |
+
about how to do great work. As old as human civilization feels,
|
| 156 |
+
it's really still very young if we haven't nailed something so
|
| 157 |
+
basic. It's exciting to think there are still discoveries to make
|
| 158 |
+
about discovery. If that's the sort of thing you're interested in.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />
|
| 159 |
+
<b>Notes</b><br /><br />[1] There are other types of collecting that illustrate this point
|
| 160 |
+
better than bus tickets, but they're also more popular. It seemed
|
| 161 |
+
just as well to use an inferior example rather than offend more
|
| 162 |
+
people by telling them their hobby doesn't matter.<br /><br />[2] I worried a little about using the word "disinterested," since
|
| 163 |
+
some people mistakenly believe it means not interested. But anyone
|
| 164 |
+
who expects to be a genius will have to know the meaning of such a
|
| 165 |
+
basic word, so I figure they may as well start now.<br /><br />[3] Think how often genius must have been nipped in the bud by
|
| 166 |
+
people being told, or telling themselves, to stop messing about and
|
| 167 |
+
be responsible. Ramanujan's mother was a huge enabler. Imagine if
|
| 168 |
+
she hadn't been. Imagine if his parents had made him go out and get
|
| 169 |
+
a job instead of sitting around at home doing math.<br /><br />On the other hand, anyone quoting the preceding paragraph to justify
|
| 170 |
+
not getting a job is probably mistaken.<br /><br />[4] 1709 Darwin is to time what the <a href="cities.html"><u>Milanese Leonardo</u></a> is to space.<br /><br />[5] "An infinite capacity for taking pains" is a paraphrase of what
|
| 171 |
+
Carlyle wrote. What he wrote, in his <i>History of Frederick the Great</i>,
|
| 172 |
+
was "... it is the fruit of 'genius' (which means transcendent
|
| 173 |
+
capacity of taking trouble, first of all)...." Since the paraphrase
|
| 174 |
+
seems the name of the idea at this point, I kept it.<br /><br />Carlyle's <i>History</i> was published in 1858. In 1785 H�rault de S�chelles
|
| 175 |
+
quoted Buffon as saying "Le g�nie n'est qu'une plus grande aptitude
|
| 176 |
+
� la patience." (Genius is only a greater aptitude for patience.)<br /><br />[6] Trollope was establishing the system of postal routes. He himself
|
| 177 |
+
sensed the obsessiveness with which he pursued this goal.
|
| 178 |
+
<blockquote>
|
| 179 |
+
It is amusing to watch how a passion will grow upon a man. During
|
| 180 |
+
those two years it was the ambition of my life to cover the
|
| 181 |
+
country with rural letter-carriers.
|
| 182 |
+
</blockquote>
|
| 183 |
+
Even Newton occasionally sensed the degree of his obsessiveness.
|
| 184 |
+
After computing pi to 15 digits, he wrote in a letter to a friend:
|
| 185 |
+
<blockquote>
|
| 186 |
+
I am ashamed to tell you to how many figures I carried these
|
| 187 |
+
computations, having no other business at the time.
|
| 188 |
+
</blockquote>
|
| 189 |
+
Incidentally, Ramanujan was also a compulsive calculator. As Kanigel
|
| 190 |
+
writes in his excellent biography:
|
| 191 |
+
<blockquote>
|
| 192 |
+
One Ramanujan scholar, B. M. Wilson, later told how Ramanujan's
|
| 193 |
+
research into number theory was often "preceded by a table of
|
| 194 |
+
numerical results, carried usually to a length from which most
|
| 195 |
+
of us would shrink."
|
| 196 |
+
</blockquote>
|
| 197 |
+
[7] Working to understand the natural world counts as creating
|
| 198 |
+
rather than consuming.<br /><br />Newton tripped over this distinction when he chose
|
| 199 |
+
to work on theology. His beliefs did not allow him to see it, but
|
| 200 |
+
chasing down paradoxes in nature is fruitful in a way that chasing
|
| 201 |
+
down paradoxes in sacred texts is not.<br /><br />[8] How much of people's propensity to become interested in a topic
|
| 202 |
+
is inborn? My experience so far suggests the answer is: most of
|
| 203 |
+
it. Different kids get interested in different things, and it's
|
| 204 |
+
hard to make a child interested in something they wouldn't otherwise
|
| 205 |
+
be. Not in a way that sticks. The most you can do on behalf of a
|
| 206 |
+
topic is to make sure it gets a fair showing � to make it clear to
|
| 207 |
+
them, for example, that there's more to math than the dull drills
|
| 208 |
+
they do in school. After that it's up to the child.<br /><br /><br /><br /><b>Thanks</b> to Marc Andreessen, Trevor Blackwell, Patrick Collison, Kevin
|
| 209 |
+
Lacker, Jessica Livingston, Jackie McDonough, Robert Morris, Lisa
|
| 210 |
+
Randall, Zak Stone, and <a href="https://twitter.com/paulg/status/1196537802621669376"><u>my 7 year old</u></a> for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://www.isaacbelmar.com/posts/el-ticket-de-autobus/">Spanish Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://ideanomics.ru/articles/19574">Russian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://yujonglee.com/genius/">Korean Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://davidmayilian.com/blog/2022/genius/">Armenian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/getideas.html
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<html><head><title>How to Get New Ideas</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
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</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc135><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc135 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-6.gif" width="176" height="18" border="0" hspace="0" vspace="0" alt="How to Get New Ideas" /><br /><br /><font size="2" face="verdana">January 2023<br /><br /><i>(<a href="https://twitter.com/stef/status/1617222428727586816"><u>Someone</u></a> fed my essays into GPT to make something that could answer
|
| 4 |
+
questions based on them, then asked it where good ideas come from. The
|
| 5 |
+
answer was ok, but not what I would have said. This is what I would have said.)</i><br /><br />The way to get new ideas is to notice anomalies: what seems strange,
|
| 6 |
+
or missing, or broken? You can see anomalies in everyday life (much
|
| 7 |
+
of standup comedy is based on this), but the best place to look for
|
| 8 |
+
them is at the frontiers of knowledge.<br /><br />Knowledge grows fractally.
|
| 9 |
+
From a distance its edges look smooth, but when you learn enough
|
| 10 |
+
to get close to one, you'll notice it's full of gaps. These gaps
|
| 11 |
+
will seem obvious; it will seem inexplicable that no one has tried
|
| 12 |
+
x or wondered about y. In the best case, exploring such gaps yields
|
| 13 |
+
whole new fractal buds.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/goodtaste.html
ADDED
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| 1 |
+
<html><head><title>Is There Such a Thing as Good Taste?</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc93><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc93 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/is-there-such-a-thing-as-good-taste-5.gif" width="295" height="18" border="0" hspace="0" vspace="0" alt="Is There Such a Thing as Good Taste?" /><br /><br /><font size="2" face="verdana">November 2021<br /><br /><i>(This essay is derived from a talk at the Cambridge Union.)</i><br /><br />When I was a kid, I'd have said there wasn't. My father told me so.
|
| 4 |
+
Some people like some things, and other people like other things,
|
| 5 |
+
and who's to say who's right?<br /><br />It seemed so obvious that there was no such thing as good taste
|
| 6 |
+
that it was only through indirect evidence that I realized my father
|
| 7 |
+
was wrong. And that's what I'm going to give you here: a proof by
|
| 8 |
+
reductio ad absurdum. If we start from the premise that there's no
|
| 9 |
+
such thing as good taste, we end up with conclusions that are
|
| 10 |
+
obviously false, and therefore the premise must be wrong.<br /><br />We'd better start by saying what good taste is. There's a narrow
|
| 11 |
+
sense in which it refers to aesthetic judgements and a broader one
|
| 12 |
+
in which it refers to preferences of any kind. The strongest proof
|
| 13 |
+
would be to show that taste exists in the narrowest sense, so I'm
|
| 14 |
+
going to talk about taste in art. You have better taste than me if
|
| 15 |
+
the art you like is better than the art I like.<br /><br />If there's no such thing as good taste, then there's no such thing
|
| 16 |
+
as <a href="goodart.html"><u>good art</u></a>. Because if there is such a
|
| 17 |
+
thing as good art, it's
|
| 18 |
+
easy to tell which of two people has better taste. Show them a lot
|
| 19 |
+
of works by artists they've never seen before and ask them to
|
| 20 |
+
choose the best, and whoever chooses the better art has better
|
| 21 |
+
taste.<br /><br />So if you want to discard the concept of good taste, you also have
|
| 22 |
+
to discard the concept of good art. And that means you have to
|
| 23 |
+
discard the possibility of people being good at making it. Which
|
| 24 |
+
means there's no way for artists to be good at their jobs. And not
|
| 25 |
+
just visual artists, but anyone who is in any sense an artist. You
|
| 26 |
+
can't have good actors, or novelists, or composers, or dancers
|
| 27 |
+
either. You can have popular novelists, but not good ones.<br /><br />We don't realize how far we'd have to go if we discarded the concept
|
| 28 |
+
of good taste, because we don't even debate the most obvious cases.
|
| 29 |
+
But it doesn't just mean we can't say which of two famous painters
|
| 30 |
+
is better. It means we can't say that any painter is better than a
|
| 31 |
+
randomly chosen eight year old.<br /><br />That was how I realized my father was wrong. I started studying
|
| 32 |
+
painting. And it was just like other kinds of work I'd done: you
|
| 33 |
+
could do it well, or badly, and if you tried hard, you could get
|
| 34 |
+
better at it. And it was obvious that Leonardo and Bellini were
|
| 35 |
+
much better at it than me. That gap between us was not imaginary.
|
| 36 |
+
They were so good. And if they could be good, then art could be
|
| 37 |
+
good, and there was such a thing as good taste after all.<br /><br />Now that I've explained how to show there is such a thing as good
|
| 38 |
+
taste, I should also explain why people think there isn't. There
|
| 39 |
+
are two reasons. One is that there's always so much disagreement
|
| 40 |
+
about taste. Most people's response to art is a tangle of unexamined
|
| 41 |
+
impulses. Is the artist famous? Is the subject attractive? Is this
|
| 42 |
+
the sort of art they're supposed to like? Is it hanging in a famous
|
| 43 |
+
museum, or reproduced in a big, expensive book? In practice most
|
| 44 |
+
people's response to art is dominated by such extraneous factors.<br /><br />And the people who do claim to have good taste are so often mistaken.
|
| 45 |
+
The paintings admired by the so-called experts in one generation
|
| 46 |
+
are often so different from those admired a few generations later.
|
| 47 |
+
It's easy to conclude there's nothing real there at all. It's only
|
| 48 |
+
when you isolate this force, for example by trying to paint and
|
| 49 |
+
comparing your work to Bellini's, that you can see that it does in
|
| 50 |
+
fact exist.<br /><br />The other reason people doubt that art can be good is that there
|
| 51 |
+
doesn't seem to be any room in the art for this goodness. The
|
| 52 |
+
argument goes like this. Imagine several people looking at a work
|
| 53 |
+
of art and judging how good it is. If being good art really is a
|
| 54 |
+
property of objects, it should be in the object somehow. But it
|
| 55 |
+
doesn't seem to be; it seems to be something happening in the heads
|
| 56 |
+
of each of the observers. And if they disagree, how do you choose
|
| 57 |
+
between them?<br /><br />The solution to this puzzle is to realize that the purpose of art
|
| 58 |
+
is to work on its human audience, and humans have a lot in common.
|
| 59 |
+
And to the extent the things an object acts upon respond in the
|
| 60 |
+
same way, that's arguably what it means for the object to have the
|
| 61 |
+
corresponding property. If everything a particle interacts with
|
| 62 |
+
behaves as if the particle had a mass of <i>m</i>, then it has a mass of
|
| 63 |
+
<i>m</i>. So the distinction between "objective" and "subjective" is not
|
| 64 |
+
binary, but a matter of degree, depending on how much the subjects
|
| 65 |
+
have in common. Particles interacting with one another are at one
|
| 66 |
+
pole, but people interacting with art are not all the way at the
|
| 67 |
+
other; their reactions aren't <i>random</i>.<br /><br />Because people's responses to art aren't random, art can be designed
|
| 68 |
+
to operate on people, and be good or bad depending on how effectively
|
| 69 |
+
it does so. Much as a vaccine can be. If someone were talking about
|
| 70 |
+
the ability of a vaccine to confer immunity, it would seem very
|
| 71 |
+
frivolous to object that conferring immunity wasn't really a property
|
| 72 |
+
of vaccines, because acquiring immunity is something that happens
|
| 73 |
+
in the immune system of each individual person. Sure, people's
|
| 74 |
+
immune systems vary, and a vaccine that worked on one might not
|
| 75 |
+
work on another, but that doesn't make it meaningless to talk about
|
| 76 |
+
the effectiveness of a vaccine.<br /><br />The situation with art is messier, of course. You can't measure
|
| 77 |
+
effectiveness by simply taking a vote, as you do with vaccines.
|
| 78 |
+
You have to imagine the responses of subjects with a deep knowledge
|
| 79 |
+
of art, and enough clarity of mind to be able to ignore extraneous
|
| 80 |
+
influences like the fame of the artist. And even then you'd still
|
| 81 |
+
see some disagreement. People do vary, and judging art is hard,
|
| 82 |
+
especially recent art. There is definitely not a total order either
|
| 83 |
+
of works or of people's ability to judge them. But there is equally
|
| 84 |
+
definitely a partial order of both. So while it's not possible to
|
| 85 |
+
have perfect taste, it is possible to have good taste.<br /><br /><br /><br /><br /><br /><br /><br /><font color="888888">
|
| 86 |
+
<b>Thanks</b> to the Cambridge Union for inviting me, and to Trevor
|
| 87 |
+
Blackwell, Jessica Livingston, and Robert Morris for reading drafts
|
| 88 |
+
of this.
|
| 89 |
+
</font><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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}
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| 101 |
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+
document.addEventListener('readystatechange', event => {
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// Begin Store Generated Code
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<script type="text/javascript">
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// Begin Store Generated Code
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<script type="text/javascript">
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// Begin Store Generated Code
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function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
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</script>
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<script type="text/javascript">
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// Begin Store Generated Code
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platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/goodwriting.html
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| 1 |
+
<html><head><meta name="Keywords" content="" /><title>Good Writing</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
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<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
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</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/bel-6.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=19afd6832e0a1b><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/bel-7.gif" width="69" height="357" usemap=#19afd6832e0a1b border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/bel-8.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/good-writing-1.gif" width="111" height="18" border="0" hspace="0" vspace="0" alt="Good Writing" /><br /><br /><font size="2" face="verdana">May 2025<br /><br />There are two senses in which writing can be good: it can
|
| 4 |
+
sound good, and the ideas can be right. It can have nice,
|
| 5 |
+
flowing sentences, and it can draw correct conclusions
|
| 6 |
+
about important things. It might seem as if these two
|
| 7 |
+
kinds of good would be unrelated, like the speed of a car
|
| 8 |
+
and the color it's painted. And yet I don't think they
|
| 9 |
+
are. I think writing that sounds good is more likely to
|
| 10 |
+
be right.<br /><br />So here we have the most exciting kind of idea: one that
|
| 11 |
+
seems both preposterous and true. Let's examine it. How
|
| 12 |
+
can this possibly be true?<br /><br />I know it's true from writing. You can't simultaneously
|
| 13 |
+
optimize two unrelated things; when you push one far
|
| 14 |
+
enough, you always end up sacrificing the other. And yet
|
| 15 |
+
no matter how hard I push, I never find myself having to
|
| 16 |
+
choose between the sentence that sounds best and the one
|
| 17 |
+
that expresses an idea best. If I did, it would be
|
| 18 |
+
frivolous to care how sentences sound. But in practice it
|
| 19 |
+
feels the opposite of frivolous. Fixing sentences that
|
| 20 |
+
sound bad seems to help get the ideas right.
|
| 21 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />By right I mean more than just true. Getting the ideas
|
| 22 |
+
right means developing them well — drawing the
|
| 23 |
+
conclusions that matter most, and exploring each one to
|
| 24 |
+
the right level of detail. So getting the ideas right is
|
| 25 |
+
not just a matter of saying true things, but saying the
|
| 26 |
+
right true things.<br /><br />How could trying to make sentences sound good help you do
|
| 27 |
+
that? The clue to the answer is something I noticed 30
|
| 28 |
+
years ago when I was doing the layout for my first book.
|
| 29 |
+
Sometimes when you're laying out text you have bad luck.
|
| 30 |
+
For example, you get a section that runs one line longer
|
| 31 |
+
than the page. I don't know what ordinary typesetters do
|
| 32 |
+
in this situation, but what I did was rewrite the section
|
| 33 |
+
to make it a line shorter. You'd expect such an arbitrary
|
| 34 |
+
constraint to make the writing worse. But I found, to my
|
| 35 |
+
surprise, that it never did. I always ended up with
|
| 36 |
+
something I liked better.<br /><br />I don't think this was because my writing was especially
|
| 37 |
+
careless. I think if you pointed to a random paragraph in
|
| 38 |
+
anything written by anyone and told them to make it
|
| 39 |
+
slightly shorter (or longer), they'd probably be able to
|
| 40 |
+
come up with something better.<br /><br />The best analogy for this phenomenon is when you shake a
|
| 41 |
+
bin full of different objects. The shakes are arbitrary
|
| 42 |
+
motions. Or more precisely, they're not calculated to
|
| 43 |
+
make any two specific objects fit more closely together.
|
| 44 |
+
And yet repeated shaking inevitably makes the objects
|
| 45 |
+
discover brilliantly clever ways of packing themselves.
|
| 46 |
+
Gravity won't let them become less tightly packed, so any
|
| 47 |
+
change has to be a change for the better.
|
| 48 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />So it is with writing. If you have to rewrite an awkward
|
| 49 |
+
passage, you'll never do it in a way that makes it <i>less</i>
|
| 50 |
+
true. You couldn't bear it, any more than gravity could
|
| 51 |
+
bear things floating upward. So any change in the ideas
|
| 52 |
+
has to be a change for the better.<br /><br />It's obvious once you think about it. Writing that sounds
|
| 53 |
+
good is more likely to be right for the same reason that
|
| 54 |
+
a well-shaken bin is more likely to be tightly packed.
|
| 55 |
+
But there's something else going on as well. Sounding
|
| 56 |
+
good isn't just a random external force that leaves the
|
| 57 |
+
ideas in an essay better off. It actually helps you to
|
| 58 |
+
get them right.<br /><br />The reason is that it makes the essay easier to read.
|
| 59 |
+
It's less work to read writing that flows well. How does
|
| 60 |
+
that help the writer? <i>Because the writer is the first
|
| 61 |
+
reader.</i> When I'm working on an essay, I spend far more
|
| 62 |
+
time reading than writing. I'll reread some parts 50 or
|
| 63 |
+
100 times, replaying the thoughts in them and asking
|
| 64 |
+
myself, like someone sanding a piece of wood, does
|
| 65 |
+
anything catch? Does anything feel wrong? And the easier
|
| 66 |
+
the essay is to read, the easier it is to notice if
|
| 67 |
+
something catches.<br /><br />So yes, the two senses of good writing are connected in
|
| 68 |
+
at least two ways. Trying to make writing sound good
|
| 69 |
+
makes you fix mistakes unconsciously, and also helps you
|
| 70 |
+
fix them consciously; it shakes the bin of ideas, and
|
| 71 |
+
also makes mistakes easier to see. But now that we've
|
| 72 |
+
dissolved one layer of preposterousness, I can't resist
|
| 73 |
+
adding another. Does sounding good do more than just help
|
| 74 |
+
you get the ideas right? Is writing that sounds good
|
| 75 |
+
<i>inherently</i> more likely to be right? Crazy as it may
|
| 76 |
+
seem, I think that's true too.<br /><br />Obviously there's a connection at the level of individual
|
| 77 |
+
words. There are lots of words in English that sound like
|
| 78 |
+
what they mean, often in wonderfully subtle ways.
|
| 79 |
+
Glitter. Round. Scrape. Prim. Cavalcade. But the sound of
|
| 80 |
+
good writing depends even more on the way you put words
|
| 81 |
+
together, and there's a connection at that level too.<br /><br />When writing sounds good, it's mostly because it has good
|
| 82 |
+
rhythm. But the rhythm of good writing is not the rhythm
|
| 83 |
+
of music, or the meter of verse. It's not so regular. If
|
| 84 |
+
it were, it wouldn't be good, because the rhythm of good
|
| 85 |
+
writing has to match the ideas in it, and ideas have all
|
| 86 |
+
kinds of different shapes. Sometimes they're simple and
|
| 87 |
+
you just state them. But other times they're more subtle,
|
| 88 |
+
and you need longer, more complicated sentences to tease
|
| 89 |
+
out all the implications.<br /><br />An essay is a cleaned up train of thought, in the same
|
| 90 |
+
way dialogue is cleaned up conversation, and a train of
|
| 91 |
+
thought has a natural rhythm. So when an essay sounds
|
| 92 |
+
good, it's not merely because it has a pleasing rhythm,
|
| 93 |
+
but because it has its natural one. Which means you can
|
| 94 |
+
use getting the rhythm right as a heuristic for getting
|
| 95 |
+
the ideas right. And not just in principle: good writers
|
| 96 |
+
do both simultaneously as a matter of course. Often I
|
| 97 |
+
don't even distinguish between the two problems. I just
|
| 98 |
+
think Ugh, this doesn't sound right; what do I mean to
|
| 99 |
+
say here?
|
| 100 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font><br /><br />The sound of writing turns out to be more like the shape
|
| 101 |
+
of a plane than the color of a car. If it looks good, as
|
| 102 |
+
Kelly Johnson used to say, it will fly well.<br /><br />This is only true of writing that's used to develop
|
| 103 |
+
ideas, though. It doesn't apply when you have ideas in
|
| 104 |
+
some other way and then write about them afterward — for
|
| 105 |
+
example, if you build something, or conduct an
|
| 106 |
+
experiment, and then write a paper about it. In such
|
| 107 |
+
cases the ideas often live more in the work than the
|
| 108 |
+
writing, so the writing can be bad even though the ideas
|
| 109 |
+
are good. The writing in textbooks and popular surveys
|
| 110 |
+
can be bad for the same reason: the author isn't
|
| 111 |
+
developing the ideas, merely describing other people's.
|
| 112 |
+
It's only when you're writing to develop ideas that
|
| 113 |
+
there's such a close connection between the two senses of
|
| 114 |
+
doing it well.<br /><br />Ok, many people will be thinking, this seems plausible so
|
| 115 |
+
far, but what about liars? Is it not notoriously possible
|
| 116 |
+
for a smooth-tongued liar to write something beautiful
|
| 117 |
+
that's completely false?<br /><br />It is, of course. But not without method acting. The way
|
| 118 |
+
to write something beautiful and false is to begin by
|
| 119 |
+
making yourself almost believe it. So just like someone
|
| 120 |
+
writing something beautiful and true, you're presenting a
|
| 121 |
+
perfectly-formed train of thought. The difference is the
|
| 122 |
+
point where it attaches to the world. You're saying
|
| 123 |
+
something that would be true if certain false premises
|
| 124 |
+
were. If for some bizarre reason the number of jobs in a
|
| 125 |
+
country were fixed, then immigrants really would be
|
| 126 |
+
taking our jobs.<br /><br />So it's not quite right to say that better sounding
|
| 127 |
+
writing is more likely to be true. Better sounding
|
| 128 |
+
writing is more likely to be internally consistent. If
|
| 129 |
+
the writer is honest, internal consistency and truth
|
| 130 |
+
converge.<br /><br />But while we can't safely conclude that beautiful writing
|
| 131 |
+
is true, it's usually safe to conclude the converse:
|
| 132 |
+
something that seems clumsily written will usually have
|
| 133 |
+
gotten the ideas wrong too.<br /><br />Indeed, the two senses of good writing are more like two
|
| 134 |
+
ends of the same thing. The connection between them is
|
| 135 |
+
not a rigid one; the goodness of good writing is not a
|
| 136 |
+
rod but a rope, with multiple overlapping connections
|
| 137 |
+
running through it. But it's hard to move one end without
|
| 138 |
+
moving the other. It's hard to be right without sounding
|
| 139 |
+
right.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />
|
| 140 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 141 |
+
The closest thing to an exception is when you have
|
| 142 |
+
to go back and insert a new point into the middle of
|
| 143 |
+
something you've written. This often messes up the flow,
|
| 144 |
+
sometimes in ways you can never quite repair. But I think
|
| 145 |
+
the ultimate source of this problem is that ideas are
|
| 146 |
+
tree-shaped and essays are linear. You inevitably run
|
| 147 |
+
into difficulties when you try to cram the former into
|
| 148 |
+
the latter. Frankly it's surprising how much you can get
|
| 149 |
+
away with. But even so you sometimes have to resort to an
|
| 150 |
+
endnote.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 151 |
+
Obviously if you shake the bin hard enough the
|
| 152 |
+
objects in it can become less tightly packed. And
|
| 153 |
+
similarly, if you imposed some huge external constraint
|
| 154 |
+
on your writing, like using alternating one and two
|
| 155 |
+
syllable words, the ideas would start to suffer.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 156 |
+
Bizarrely enough, this happened in the writing of
|
| 157 |
+
this very paragraph. An earlier version shared several
|
| 158 |
+
phrases in common with the preceding paragraph, and the
|
| 159 |
+
repetition bugged me each time I reread it. When I got
|
| 160 |
+
annoyed enough to fix it, I discovered that the
|
| 161 |
+
repetition reflected a problem in the underlying ideas,
|
| 162 |
+
and I fixed both simultaneously.<br /><br /><br /><br />
|
| 163 |
+
<font color="888888"><b>Thanks</b> to Jessica Livingston
|
| 164 |
+
and Courtenay Pipkin for reading drafts of this.</b><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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| 192 |
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| 193 |
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<script type="text/javascript">
|
| 194 |
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// Begin Store Generated Code
|
| 195 |
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csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 196 |
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</script>
|
| 197 |
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<script type="text/javascript">
|
| 198 |
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// Begin Store Generated Code
|
| 199 |
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|
| 200 |
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</script>
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| 201 |
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<script type="text/javascript">
|
| 202 |
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// Begin Store Generated Code
|
| 203 |
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function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 204 |
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| 205 |
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<script type="text/javascript">
|
| 206 |
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// Begin Store Generated Code
|
| 207 |
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var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=goodwriting&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 208 |
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|
| 209 |
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|
| 210 |
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/google.html
ADDED
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|
| 1 |
+
<html><head><meta name="Keywords" content="" /><title>How to Start Google</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=114876600023d67><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#114876600023d67 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-start-google-1.gif" width="171" height="18" border="0" hspace="0" vspace="0" alt="How to Start Google" /><br /><br /><font size="2" face="verdana">March 2024<br /><br /><i>(This is a talk I gave to 14 and 15 year olds about what to do now
|
| 4 |
+
if they might want to start a startup later. Lots of schools think
|
| 5 |
+
they should tell students something about startups. This is what I
|
| 6 |
+
think they should tell them.)</i><br /><br />Most of you probably think that when you're released into the
|
| 7 |
+
so-called real world you'll eventually have to get some kind of
|
| 8 |
+
job. That's not true, and today I'm going to talk about a trick you
|
| 9 |
+
can use to avoid ever having to get a job.<br /><br />The trick is to start your own company. So it's not a trick for
|
| 10 |
+
avoiding <i>work</i>, because if you start your own company you'll
|
| 11 |
+
work harder than you would if you had an ordinary job. But you will
|
| 12 |
+
avoid many of the annoying things that come with a job, including
|
| 13 |
+
a boss telling you what to do.<br /><br />It's more exciting to work on your own project than someone else's.
|
| 14 |
+
And you can also get a lot richer. In fact, this is the standard
|
| 15 |
+
way to get
|
| 16 |
+
<a href="richnow.html"><u>really rich</u></a>. If you look at the lists of the richest
|
| 17 |
+
people that occasionally get published in the press, nearly all of
|
| 18 |
+
them did it by starting their own companies.<br /><br />Starting your own company can mean anything from starting a barber
|
| 19 |
+
shop to starting Google. I'm here to talk about one extreme end of
|
| 20 |
+
that continuum. I'm going to tell you how to start Google.<br /><br />The companies at the Google end of the continuum are called startups
|
| 21 |
+
when they're young. The reason I know about them is that my wife
|
| 22 |
+
Jessica and I started something called Y Combinator that is basically
|
| 23 |
+
a startup factory. Since 2005, Y Combinator has funded over 4000
|
| 24 |
+
startups. So we know exactly what you need to start a startup,
|
| 25 |
+
because we've helped people do it for the last 19 years.<br /><br />You might have thought I was joking when I said I was going to tell
|
| 26 |
+
you how to start Google. You might be thinking "How could <i>we</i>
|
| 27 |
+
start Google?" But that's effectively what the people who did start
|
| 28 |
+
Google were thinking before they started it. If you'd told Larry
|
| 29 |
+
Page and Sergey Brin, the founders of Google, that the company they
|
| 30 |
+
were about to start would one day be worth over a trillion dollars,
|
| 31 |
+
their heads would have exploded.<br /><br />All you can know when you start working on a startup is that it
|
| 32 |
+
seems worth pursuing. You can't know whether it will turn into
|
| 33 |
+
a company worth billions or one that goes out of business. So when I
|
| 34 |
+
say I'm going to tell you how to start Google, I mean I'm going to
|
| 35 |
+
tell you how to get to the point where you can start a company that
|
| 36 |
+
has as much chance of being Google as Google had of being Google.
|
| 37 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />How do you get from where you are now to the point where you can
|
| 38 |
+
start a successful startup? You need three things. You need to be
|
| 39 |
+
good at some kind of technology, you need an idea for what you're
|
| 40 |
+
going to build, and you need cofounders to start the company with.<br /><br />How do you get good at technology? And how do you choose which
|
| 41 |
+
technology to get good at? Both of those questions turn out to have
|
| 42 |
+
the same answer: work on your own projects. Don't try to guess
|
| 43 |
+
whether gene editing or LLMs or rockets will turn out to be the
|
| 44 |
+
most valuable technology to know about. No one can predict that.
|
| 45 |
+
Just work on whatever interests you the most. You'll work much
|
| 46 |
+
harder on something you're interested in than something you're doing
|
| 47 |
+
because you think you're supposed to.<br /><br />If you're not sure what technology to get good at, get good at
|
| 48 |
+
programming. That has been the source of the median startup for the
|
| 49 |
+
last 30 years, and this is probably not going to change in the next
|
| 50 |
+
10.<br /><br />Those of you who are taking computer science classes in school may
|
| 51 |
+
at this point be thinking, ok, we've got this sorted. We're already
|
| 52 |
+
being taught all about programming. But sorry, this is not enough.
|
| 53 |
+
You have to be working on your own projects, not just learning stuff
|
| 54 |
+
in classes. You can do well in computer science classes without
|
| 55 |
+
ever really learning to program. In fact you can graduate with a
|
| 56 |
+
degree in computer science from a top university and still not be
|
| 57 |
+
any good at programming. That's why tech companies all make you
|
| 58 |
+
take a coding test before they'll hire you, regardless of where you
|
| 59 |
+
went to university or how well you did there. They know grades and
|
| 60 |
+
exam results prove nothing.<br /><br />If you really want to learn to program, you have to work on your
|
| 61 |
+
own projects. You learn so much faster that way. Imagine you're
|
| 62 |
+
writing a game and there's something you want to do in it, and you
|
| 63 |
+
don't know how. You're going to figure out how a lot faster than
|
| 64 |
+
you'd learn anything in a class.<br /><br />You don't have to learn programming, though. If you're wondering
|
| 65 |
+
what counts as technology, it includes practically everything you
|
| 66 |
+
could describe using the words "make" or "build." So welding would
|
| 67 |
+
count, or making clothes, or making videos. Whatever you're most
|
| 68 |
+
interested in. The critical distinction is whether you're producing
|
| 69 |
+
or just consuming. Are you writing computer games, or just playing
|
| 70 |
+
them? That's the cutoff.<br /><br />Steve Jobs, the founder of Apple, spent time when he was a teenager
|
| 71 |
+
studying calligraphy — the sort of beautiful writing that
|
| 72 |
+
you see in medieval manuscripts. No one, including him, thought
|
| 73 |
+
that this would help him in his career. He was just doing it because
|
| 74 |
+
he was interested in it. But it turned out to help him a lot. The
|
| 75 |
+
computer that made Apple really big, the Macintosh, came out at
|
| 76 |
+
just the moment when computers got powerful enough to make letters
|
| 77 |
+
like the ones in printed books instead of the computery-looking
|
| 78 |
+
letters you see in 8 bit games. Apple destroyed everyone else at
|
| 79 |
+
this, and one reason was that Steve was one of the few people in
|
| 80 |
+
the computer business who really got graphic design.<br /><br />Don't feel like your projects have to be <i>serious</i>. They can
|
| 81 |
+
be as frivolous as you like, so long as you're building things
|
| 82 |
+
you're excited about. Probably 90% of programmers start out building
|
| 83 |
+
games. They and their friends like to play games. So they build
|
| 84 |
+
the kind of things they and their friends want. And that's exactly
|
| 85 |
+
what you should be doing at 15 if you want to start a startup one
|
| 86 |
+
day.<br /><br />You don't have to do just one project. In fact it's good to learn
|
| 87 |
+
about multiple things. Steve Jobs didn't just learn calligraphy.
|
| 88 |
+
He also learned about electronics, which was even more valuable.
|
| 89 |
+
Whatever you're interested in. (Do you notice a theme here?)<br /><br />So that's the first of the three things you need, to get good at
|
| 90 |
+
some kind or kinds of technology. You do it the same way you get
|
| 91 |
+
good at the violin or football: practice. If you start a startup
|
| 92 |
+
at 22, and you start writing your own programs now, then by the
|
| 93 |
+
time you start the company you'll have spent at least 7 years
|
| 94 |
+
practicing writing code, and you can get pretty good at anything
|
| 95 |
+
after practicing it for 7 years.<br /><br />Let's suppose you're 22 and you've succeeded: You're now really
|
| 96 |
+
good at some technology. How do you get
|
| 97 |
+
<a href="startupideas.html"><u>startup ideas</u></a>? It might
|
| 98 |
+
seem like that's the hard part. Even if you are a good programmer,
|
| 99 |
+
how do you get the idea to start Google?<br /><br />Actually it's easy to get startup ideas once you're good at technology.
|
| 100 |
+
Once you're good at some technology, when you look at the world you
|
| 101 |
+
see dotted outlines around the things that are missing. You start
|
| 102 |
+
to be able to see both the things that are missing from the technology
|
| 103 |
+
itself, and all the broken things that could be fixed using it, and
|
| 104 |
+
each one of these is a potential startup.<br /><br />In the town near our house there's a shop with a sign warning that
|
| 105 |
+
the door is hard to close. The sign has been there for several
|
| 106 |
+
years. To the people in the shop it must seem like this mysterious
|
| 107 |
+
natural phenomenon that the door sticks, and all they can do is put
|
| 108 |
+
up a sign warning customers about it. But any carpenter looking at
|
| 109 |
+
this situation would think "why don't you just plane off the part
|
| 110 |
+
that sticks?"<br /><br />Once you're good at programming, all the missing software in the
|
| 111 |
+
world starts to become as obvious as a sticking door to a carpenter.
|
| 112 |
+
I'll give you a real world example. Back in the 20th century,
|
| 113 |
+
American universities used to publish printed directories with all
|
| 114 |
+
the students' names and contact info. When I tell you what these
|
| 115 |
+
directories were called, you'll know which startup I'm talking
|
| 116 |
+
about. They were called facebooks, because they usually had a picture
|
| 117 |
+
of each student next to their name.<br /><br />So Mark Zuckerberg shows up at Harvard in 2002, and the university
|
| 118 |
+
still hasn't gotten the facebook online. Each individual house has
|
| 119 |
+
an online facebook, but there isn't one for the whole university.
|
| 120 |
+
The university administration has been diligently having meetings
|
| 121 |
+
about this, and will probably have solved the problem in another
|
| 122 |
+
decade or so. Most of the students don't consciously notice that
|
| 123 |
+
anything is wrong. But Mark is a programmer. He looks at this
|
| 124 |
+
situation and thinks "Well, this is stupid. I could write a program
|
| 125 |
+
to fix this in one night. Just let people upload their own photos
|
| 126 |
+
and then combine the data into a new site for the whole university."
|
| 127 |
+
So he does. And almost literally overnight he has thousands of
|
| 128 |
+
users.<br /><br />Of course Facebook was not a startup yet. It was just a... project.
|
| 129 |
+
There's that word again. Projects aren't just the best way to learn
|
| 130 |
+
about technology. They're also the best source of startup ideas.<br /><br />Facebook was not unusual in this respect. Apple and Google also
|
| 131 |
+
began as projects. Apple wasn't meant to be a company. Steve Wozniak
|
| 132 |
+
just wanted to build his own computer. It only turned into a company
|
| 133 |
+
when Steve Jobs said "Hey, I wonder if we could sell plans for this
|
| 134 |
+
computer to other people." That's how Apple started. They weren't
|
| 135 |
+
even selling computers, just plans for computers. Can you imagine
|
| 136 |
+
how lame this company seemed?<br /><br />Ditto for Google. Larry and Sergey weren't trying to start a company
|
| 137 |
+
at first. They were just trying to make search better. Before Google,
|
| 138 |
+
most search engines didn't try to sort the results they gave you
|
| 139 |
+
in order of importance. If you searched for "rugby" they just gave
|
| 140 |
+
you every web page that contained the word "rugby." And the web was
|
| 141 |
+
so small in 1997 that this actually worked! Kind of. There might
|
| 142 |
+
only be 20 or 30 pages with the word "rugby," but the web was growing
|
| 143 |
+
exponentially, which meant this way of doing search was becoming
|
| 144 |
+
exponentially more broken. Most users just thought, "Wow, I sure
|
| 145 |
+
have to look through a lot of search results to find what I want."
|
| 146 |
+
Door sticks. But like Mark, Larry and Sergey were programmers. Like
|
| 147 |
+
Mark, they looked at this situation and thought "Well, this is
|
| 148 |
+
stupid. Some pages about rugby matter more than others. Let's figure
|
| 149 |
+
out which those are and show them first."<br /><br />It's obvious in retrospect that this was a great idea for a startup.
|
| 150 |
+
It wasn't obvious at the time. It's never obvious. If it was obviously
|
| 151 |
+
a good idea to start Apple or Google or Facebook, someone else would
|
| 152 |
+
have already done it. That's why the best startups grow out of
|
| 153 |
+
projects that aren't meant to be startups. You're not trying to
|
| 154 |
+
start a company. You're just following your instincts about what's
|
| 155 |
+
interesting. And if you're young and good at technology, then your
|
| 156 |
+
unconscious instincts about what's interesting are better than your
|
| 157 |
+
conscious ideas about what would be a good company.<br /><br />So it's critical, if you're a young founder, to build things for
|
| 158 |
+
yourself and your friends to use. The biggest mistake young founders
|
| 159 |
+
make is to build something for some mysterious group of other people.
|
| 160 |
+
But if you can make something that you and your friends truly want
|
| 161 |
+
to use — something your friends aren't just using out of
|
| 162 |
+
loyalty to you, but would be really sad to lose if you shut it down
|
| 163 |
+
— then you almost certainly have the germ of a good startup
|
| 164 |
+
idea. It may not seem like a startup to you. It may not be obvious
|
| 165 |
+
how to make money from it. But trust me, there's a way.<br /><br />What you need in a startup idea, and all you need, is something
|
| 166 |
+
your friends actually want. And those ideas aren't hard to see once
|
| 167 |
+
you're good at technology. There are sticking doors everywhere.
|
| 168 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />Now for the third and final thing you need: a cofounder, or cofounders.
|
| 169 |
+
The optimal startup has two or three founders, so you need one or
|
| 170 |
+
two cofounders. How do you find them? Can you predict what I'm going
|
| 171 |
+
to say next? It's the same thing: projects. You find cofounders by
|
| 172 |
+
working on projects with them. What you need in a cofounder is
|
| 173 |
+
someone who's good at what they do and that you work well with, and
|
| 174 |
+
the only way to judge this is to work with them on things.<br /><br />At this point I'm going to tell you something you might not want
|
| 175 |
+
to hear. It really matters to do well in your classes, even the
|
| 176 |
+
ones that are just memorization or blathering about literature,
|
| 177 |
+
because you need to do well in your classes to get into a good
|
| 178 |
+
university. And if you want to start a startup you should try to
|
| 179 |
+
get into the best university you can, because that's where the best
|
| 180 |
+
cofounders are. It's also where the best employees are. When Larry
|
| 181 |
+
and Sergey started Google, they began by just hiring all the smartest
|
| 182 |
+
people they knew out of Stanford, and this was a real advantage for
|
| 183 |
+
them.<br /><br />The empirical evidence is clear on this. If you look at where the
|
| 184 |
+
largest numbers of successful startups come from, it's pretty much
|
| 185 |
+
the same as the list of the most selective universities.<br /><br />I don't think it's the prestigious names of these universities that
|
| 186 |
+
cause more good startups to come out of them. Nor do I think it's
|
| 187 |
+
because the quality of the teaching is better. What's driving this
|
| 188 |
+
is simply the difficulty of getting in. You have to be pretty smart
|
| 189 |
+
and determined to get into MIT or Cambridge, so if you do manage
|
| 190 |
+
to get in, you'll find the other students include a lot of smart
|
| 191 |
+
and determined people.
|
| 192 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font><br /><br />You don't have to start a startup with someone you meet at university.
|
| 193 |
+
The founders of Twitch met when they were seven. The founders of
|
| 194 |
+
Stripe, Patrick and John Collison, met when John was born. But
|
| 195 |
+
universities are the main source of cofounders. And because they're
|
| 196 |
+
where the cofounders are, they're also where the ideas are, because
|
| 197 |
+
the best ideas grow out of projects you do with the people who
|
| 198 |
+
become your cofounders.<br /><br />So the list of what you need to do to get from here to starting a
|
| 199 |
+
startup is quite short. You need to get good at technology, and the
|
| 200 |
+
way to do that is to work on your own projects. And you need to do
|
| 201 |
+
as well in school as you can, so you can get into a good university,
|
| 202 |
+
because that's where the cofounders and the ideas are.<br /><br />That's it, just two things, build stuff and do well in school.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 203 |
+
The rhetorical trick in this sentence is that the "Google"s
|
| 204 |
+
refer to different things. What I mean is: a company that has as
|
| 205 |
+
much chance of growing as big as Google ultimately did as Larry and
|
| 206 |
+
Sergey could have reasonably expected Google itself would at the
|
| 207 |
+
time they started it. But I think the original version is zippier.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 208 |
+
Making something for your friends isn't the only source of
|
| 209 |
+
startup ideas. It's just the best source for young founders, who
|
| 210 |
+
have the least knowledge of what other people want, and whose own
|
| 211 |
+
wants are most predictive of future demand.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 212 |
+
Strangely enough this is particularly true in countries like
|
| 213 |
+
the US where undergraduate admissions are done badly. US admissions
|
| 214 |
+
departments make applicants jump through a lot of arbitrary hoops
|
| 215 |
+
that have little to do with their intellectual ability. But the
|
| 216 |
+
more arbitrary a test, the more it becomes a test of mere determination
|
| 217 |
+
and resourcefulness. And those are the two most important qualities
|
| 218 |
+
in startup founders. So US admissions departments are better at
|
| 219 |
+
selecting founders than they would be if they were better at selecting
|
| 220 |
+
students.<br /><br /><br /><br /><font color="888888"><b>Thanks</b> to Jared Friedman, Carolynn Levy, Jessica Livingston, Harj Taggar, and Garry Tan for reading drafts of this.</font><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 221 |
+
<script type="text/javascript">
|
| 222 |
+
csell_env = 'ue1';
|
| 223 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 224 |
+
</script>
|
| 225 |
+
|
| 226 |
+
<script type="text/javascript">
|
| 227 |
+
function toOSTN(node){
|
| 228 |
+
if(node.hasAttributes()){
|
| 229 |
+
for (const attr of node.attributes) {
|
| 230 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 231 |
+
}
|
| 232 |
+
}
|
| 233 |
+
};
|
| 234 |
+
document.addEventListener('readystatechange', event => {
|
| 235 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 236 |
+
if (event.target.readyState === "interactive") {
|
| 237 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 238 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 239 |
+
toOSTN(fromOSYN[i]);
|
| 240 |
+
}
|
| 241 |
+
}
|
| 242 |
+
}
|
| 243 |
+
});
|
| 244 |
+
</script>
|
| 245 |
+
<script type="text/javascript">
|
| 246 |
+
// Begin Store Generated Code
|
| 247 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 248 |
+
</script>
|
| 249 |
+
<script type="text/javascript">
|
| 250 |
+
// Begin Store Generated Code
|
| 251 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 252 |
+
</script>
|
| 253 |
+
<script type="text/javascript">
|
| 254 |
+
// Begin Store Generated Code
|
| 255 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'google'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 256 |
+
</script>
|
| 257 |
+
<script type="text/javascript">
|
| 258 |
+
// Begin Store Generated Code
|
| 259 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 260 |
+
</script>
|
| 261 |
+
<script type="text/javascript">
|
| 262 |
+
// Begin Store Generated Code
|
| 263 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=google&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 264 |
+
</script>
|
| 265 |
+
</html>
|
| 266 |
+
<!-- html110.prod.store.e1a.lumsb.com Sun Aug 24 02:50:35 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/greatwork.html
ADDED
|
@@ -0,0 +1,1013 @@
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|
| 1 |
+
<html><head><meta name="Keywords" content="" /><title>How to Do Great Work</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/bel-6.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=118ab66adb24b4f><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/bel-7.gif" width="69" height="357" usemap=#118ab66adb24b4f border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/bel-8.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-do-great-work-2.gif" width="185" height="18" border="0" hspace="0" vspace="0" alt="How to Do Great Work" /><br /><br /><font size="2" face="verdana">July 2023<br /><br />If you collected lists of techniques for doing great work in a lot
|
| 4 |
+
of different fields, what would the intersection look like? I decided
|
| 5 |
+
to find out by making it.<br /><br />Partly my goal was to create a guide that could be used by someone
|
| 6 |
+
working in any field. But I was also curious about the shape of the
|
| 7 |
+
intersection. And one thing this exercise shows is that it does
|
| 8 |
+
have a definite shape; it's not just a point labelled "work hard."<br /><br />The following recipe assumes you're very ambitious.<br /><br /><br /><br /><br /><br />
|
| 9 |
+
The first step is to decide what to work on. The work you choose
|
| 10 |
+
needs to have three qualities: it has to be something you have a
|
| 11 |
+
natural aptitude for, that you have a deep interest in, and that
|
| 12 |
+
offers scope to do great work.<br /><br />In practice you don't have to worry much about the third criterion.
|
| 13 |
+
Ambitious people are if anything already too conservative about it.
|
| 14 |
+
So all you need to do is find something you have an aptitude for
|
| 15 |
+
and great interest in.
|
| 16 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />That sounds straightforward, but it's often quite difficult. When
|
| 17 |
+
you're young you don't know what you're good at or what different
|
| 18 |
+
kinds of work are like. Some kinds of work you end up doing may not
|
| 19 |
+
even exist yet. So while some people know what they want to do at
|
| 20 |
+
14, most have to figure it out.<br /><br />The way to figure out what to work on is by working. If you're not
|
| 21 |
+
sure what to work on, guess. But pick something and get going.
|
| 22 |
+
You'll probably guess wrong some of the time, but that's fine. It's
|
| 23 |
+
good to know about multiple things; some of the biggest discoveries
|
| 24 |
+
come from noticing connections between different fields.<br /><br />Develop a habit of working on your own projects. Don't let "work"
|
| 25 |
+
mean something other people tell you to do. If you do manage to do
|
| 26 |
+
great work one day, it will probably be on a project of your own.
|
| 27 |
+
It may be within some bigger project, but you'll be driving your
|
| 28 |
+
part of it.<br /><br />What should your projects be? Whatever seems to you excitingly
|
| 29 |
+
ambitious. As you grow older and your taste in projects evolves,
|
| 30 |
+
exciting and important will converge. At 7 it may seem excitingly
|
| 31 |
+
ambitious to build huge things out of Lego, then at 14 to teach
|
| 32 |
+
yourself calculus, till at 21 you're starting to explore unanswered
|
| 33 |
+
questions in physics. But always preserve excitingness.<br /><br />There's a kind of excited curiosity that's both the engine and the
|
| 34 |
+
rudder of great work. It will not only drive you, but if you let
|
| 35 |
+
it have its way, will also show you what to work on.<br /><br />What are you excessively curious about — curious to a degree that
|
| 36 |
+
would bore most other people? That's what you're looking for.<br /><br />Once you've found something you're excessively interested in, the
|
| 37 |
+
next step is to learn enough about it to get you to one of the
|
| 38 |
+
frontiers of knowledge. Knowledge expands fractally, and from a
|
| 39 |
+
distance its edges look smooth, but once you learn enough to get
|
| 40 |
+
close to one, they turn out to be full of gaps.<br /><br />The next step is to notice them. This takes some skill, because
|
| 41 |
+
your brain wants to ignore such gaps in order to make a simpler
|
| 42 |
+
model of the world. Many discoveries have come from asking questions
|
| 43 |
+
about things that everyone else took for granted.
|
| 44 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />If the answers seem strange, so much the better. Great work often
|
| 45 |
+
has a tincture of strangeness. You see this from painting to math.
|
| 46 |
+
It would be affected to try to manufacture it, but if it appears,
|
| 47 |
+
embrace it.<br /><br />Boldly chase outlier ideas, even if other people aren't interested
|
| 48 |
+
in them — in fact, especially if they aren't. If you're excited
|
| 49 |
+
about some possibility that everyone else ignores, and you have
|
| 50 |
+
enough expertise to say precisely what they're all overlooking,
|
| 51 |
+
that's as good a bet as you'll find.
|
| 52 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font><br /><br />Four steps: choose a field, learn enough to get to the frontier,
|
| 53 |
+
notice gaps, explore promising ones. This is how practically everyone
|
| 54 |
+
who's done great work has done it, from painters to physicists.<br /><br />Steps two and four will require hard work. It may not be possible
|
| 55 |
+
to prove that you have to work hard to do great things, but the
|
| 56 |
+
empirical evidence is on the scale of the evidence for mortality.
|
| 57 |
+
That's why it's essential to work on something you're deeply
|
| 58 |
+
interested in. Interest will drive you to work harder than mere
|
| 59 |
+
diligence ever could.<br /><br />The three most powerful motives are curiosity, delight, and the
|
| 60 |
+
desire to do something impressive. Sometimes they converge, and
|
| 61 |
+
that combination is the most powerful of all.<br /><br />The big prize is to discover a new fractal bud. You notice a crack
|
| 62 |
+
in the surface of knowledge, pry it open, and there's a whole world
|
| 63 |
+
inside.<br /><br /><br /><br /><br /><br />Let's talk a little more about the complicated business of figuring
|
| 64 |
+
out what to work on. The main reason it's hard is that you can't
|
| 65 |
+
tell what most kinds of work are like except by doing them. Which
|
| 66 |
+
means the four steps overlap: you may have to work at something for
|
| 67 |
+
years before you know how much you like it or how good you are at
|
| 68 |
+
it. And in the meantime you're not doing, and thus not learning
|
| 69 |
+
about, most other kinds of work. So in the worst case you choose
|
| 70 |
+
late based on very incomplete information.
|
| 71 |
+
<font color=#dddddd>[<a href="#f4n"><font color=#dddddd>4</font></a>]</font><br /><br />The nature of ambition exacerbates this problem. Ambition comes in
|
| 72 |
+
two forms, one that precedes interest in the subject and one that
|
| 73 |
+
grows out of it. Most people who do great work have a mix, and the
|
| 74 |
+
more you have of the former, the harder it will be to decide what
|
| 75 |
+
to do.<br /><br />The educational systems in most countries pretend it's easy. They
|
| 76 |
+
expect you to commit to a field long before you could know what
|
| 77 |
+
it's really like. And as a result an ambitious person on an optimal
|
| 78 |
+
trajectory will often read to the system as an instance of breakage.<br /><br />It would be better if they at least admitted it — if they admitted
|
| 79 |
+
that the system not only can't do much to help you figure out what
|
| 80 |
+
to work on, but is designed on the assumption that you'll somehow
|
| 81 |
+
magically guess as a teenager. They don't tell you, but I will:
|
| 82 |
+
when it comes to figuring out what to work on, you're on your own.
|
| 83 |
+
Some people get lucky and do guess correctly, but the rest will
|
| 84 |
+
find themselves scrambling diagonally across tracks laid down on
|
| 85 |
+
the assumption that everyone does.<br /><br />What should you do if you're young and ambitious but don't know
|
| 86 |
+
what to work on? What you should <i>not</i> do is drift along passively,
|
| 87 |
+
assuming the problem will solve itself. You need to take action.
|
| 88 |
+
But there is no systematic procedure you can follow. When you read
|
| 89 |
+
biographies of people who've done great work, it's remarkable how
|
| 90 |
+
much luck is involved. They discover what to work on as a result
|
| 91 |
+
of a chance meeting, or by reading a book they happen to pick up.
|
| 92 |
+
So you need to make yourself a big target for luck, and the way to
|
| 93 |
+
do that is to be curious. Try lots of things, meet lots of people,
|
| 94 |
+
read lots of books, ask lots of questions.
|
| 95 |
+
<font color=#dddddd>[<a href="#f5n"><font color=#dddddd>5</font></a>]</font><br /><br />When in doubt, optimize for interestingness. Fields change as you
|
| 96 |
+
learn more about them. What mathematicians do, for example, is very
|
| 97 |
+
different from what you do in high school math classes. So you need
|
| 98 |
+
to give different types of work a chance to show you what they're
|
| 99 |
+
like. But a field should become <i>increasingly</i> interesting as you
|
| 100 |
+
learn more about it. If it doesn't, it's probably not for you.<br /><br />Don't worry if you find you're interested in different things than
|
| 101 |
+
other people. The stranger your tastes in interestingness, the
|
| 102 |
+
better. Strange tastes are often strong ones, and a strong taste
|
| 103 |
+
for work means you'll be productive. And you're more likely to find
|
| 104 |
+
new things if you're looking where few have looked before.<br /><br />One sign that you're suited for some kind of work is when you like
|
| 105 |
+
even the parts that other people find tedious or frightening.<br /><br />But fields aren't people; you don't owe them any loyalty. If in the
|
| 106 |
+
course of working on one thing you discover another that's more
|
| 107 |
+
exciting, don't be afraid to switch.<br /><br />If you're making something for people, make sure it's something
|
| 108 |
+
they actually want. The best way to do this is to make something
|
| 109 |
+
you yourself want. Write the story you want to read; build the tool
|
| 110 |
+
you want to use. Since your friends probably have similar interests,
|
| 111 |
+
this will also get you your initial audience.<br /><br />This <i>should</i> follow from the excitingness rule. Obviously the most
|
| 112 |
+
exciting story to write will be the one you want to read. The reason
|
| 113 |
+
I mention this case explicitly is that so many people get it wrong.
|
| 114 |
+
Instead of making what they want, they try to make what some
|
| 115 |
+
imaginary, more sophisticated audience wants. And once you go down
|
| 116 |
+
that route, you're lost.
|
| 117 |
+
<font color=#dddddd>[<a href="#f6n"><font color=#dddddd>6</font></a>]</font><br /><br />There are a lot of forces that will lead you astray when you're
|
| 118 |
+
trying to figure out what to work on. Pretentiousness, fashion,
|
| 119 |
+
fear, money, politics, other people's wishes, eminent frauds. But
|
| 120 |
+
if you stick to what you find genuinely interesting, you'll be proof
|
| 121 |
+
against all of them. If you're interested, you're not astray.<br /><br /><br /><br /><br /><br />
|
| 122 |
+
Following your interests may sound like a rather passive strategy,
|
| 123 |
+
but in practice it usually means following them past all sorts of
|
| 124 |
+
obstacles. You usually have to risk rejection and failure. So it
|
| 125 |
+
does take a good deal of boldness.<br /><br />But while you need boldness, you don't usually need much planning.
|
| 126 |
+
In most cases the recipe for doing great work is simply: work hard
|
| 127 |
+
on excitingly ambitious projects, and something good will come of
|
| 128 |
+
it. Instead of making a plan and then executing it, you just try
|
| 129 |
+
to preserve certain invariants.<br /><br />The trouble with planning is that it only works for achievements
|
| 130 |
+
you can describe in advance. You can win a gold medal or get rich
|
| 131 |
+
by deciding to as a child and then tenaciously pursuing that goal,
|
| 132 |
+
but you can't discover natural selection that way.<br /><br />I think for most people who want to do great work, the right strategy
|
| 133 |
+
is not to plan too much. At each stage do whatever seems most
|
| 134 |
+
interesting and gives you the best options for the future. I call
|
| 135 |
+
this approach "staying upwind." This is how most people who've done
|
| 136 |
+
great work seem to have done it.<br /><br /><br /><br /><br /><br />
|
| 137 |
+
Even when you've found something exciting to work on, working on
|
| 138 |
+
it is not always straightforward. There will be times when some new
|
| 139 |
+
idea makes you leap out of bed in the morning and get straight to
|
| 140 |
+
work. But there will also be plenty of times when things aren't
|
| 141 |
+
like that.<br /><br />You don't just put out your sail and get blown forward by inspiration.
|
| 142 |
+
There are headwinds and currents and hidden shoals. So there's a
|
| 143 |
+
technique to working, just as there is to sailing.<br /><br />For example, while you must work hard, it's possible to work too
|
| 144 |
+
hard, and if you do that you'll find you get diminishing returns:
|
| 145 |
+
fatigue will make you stupid, and eventually even damage your health.
|
| 146 |
+
The point at which work yields diminishing returns depends on the
|
| 147 |
+
type. Some of the hardest types you might only be able to do for
|
| 148 |
+
four or five hours a day.<br /><br />Ideally those hours will be contiguous. To the extent you can, try
|
| 149 |
+
to arrange your life so you have big blocks of time to work in.
|
| 150 |
+
You'll shy away from hard tasks if you know you might be interrupted.<br /><br />It will probably be harder to start working than to keep working.
|
| 151 |
+
You'll often have to trick yourself to get over that initial
|
| 152 |
+
threshold. Don't worry about this; it's the nature of work, not a
|
| 153 |
+
flaw in your character. Work has a sort of activation energy, both
|
| 154 |
+
per day and per project. And since this threshold is fake in the
|
| 155 |
+
sense that it's higher than the energy required to keep going, it's
|
| 156 |
+
ok to tell yourself a lie of corresponding magnitude to get over
|
| 157 |
+
it.<br /><br />It's usually a mistake to lie to yourself if you want to do great
|
| 158 |
+
work, but this is one of the rare cases where it isn't. When I'm
|
| 159 |
+
reluctant to start work in the morning, I often trick myself by
|
| 160 |
+
saying "I'll just read over what I've got so far." Five minutes
|
| 161 |
+
later I've found something that seems mistaken or incomplete, and
|
| 162 |
+
I'm off.<br /><br />Similar techniques work for starting new projects. It's ok to lie
|
| 163 |
+
to yourself about how much work a project will entail, for example.
|
| 164 |
+
Lots of great things began with someone saying "How hard could it
|
| 165 |
+
be?"<br /><br />This is one case where the young have an advantage. They're more
|
| 166 |
+
optimistic, and even though one of the sources of their optimism
|
| 167 |
+
is ignorance, in this case ignorance can sometimes beat knowledge.<br /><br />Try to finish what you start, though, even if it turns out to be
|
| 168 |
+
more work than you expected. Finishing things is not just an exercise
|
| 169 |
+
in tidiness or self-discipline. In many projects a lot of the best
|
| 170 |
+
work happens in what was meant to be the final stage.<br /><br />Another permissible lie is to exaggerate the importance of what
|
| 171 |
+
you're working on, at least in your own mind. If that helps you
|
| 172 |
+
discover something new, it may turn out not to have been a lie after
|
| 173 |
+
all.
|
| 174 |
+
<font color=#dddddd>[<a href="#f7n"><font color=#dddddd>7</font></a>]</font><br /><br /><br /><br /><br /><br />
|
| 175 |
+
Since there are two senses of starting work — per day and per
|
| 176 |
+
project — there are also two forms of procrastination. Per-project
|
| 177 |
+
procrastination is far the more dangerous. You put off starting
|
| 178 |
+
that ambitious project from year to year because the time isn't
|
| 179 |
+
quite right. When you're procrastinating in units of years, you can
|
| 180 |
+
get a lot not done.
|
| 181 |
+
<font color=#dddddd>[<a href="#f8n"><font color=#dddddd>8</font></a>]</font><br /><br />One reason per-project procrastination is so dangerous is that it
|
| 182 |
+
usually camouflages itself as work. You're not just sitting around
|
| 183 |
+
doing nothing; you're working industriously on something else. So
|
| 184 |
+
per-project procrastination doesn't set off the alarms that per-day
|
| 185 |
+
procrastination does. You're too busy to notice it.<br /><br />The way to beat it is to stop occasionally and ask yourself: Am I
|
| 186 |
+
working on what I most want to work on? When you're young it's ok
|
| 187 |
+
if the answer is sometimes no, but this gets increasingly dangerous
|
| 188 |
+
as you get older.
|
| 189 |
+
<font color=#dddddd>[<a href="#f9n"><font color=#dddddd>9</font></a>]</font><br /><br /><br /><br /><br /><br />
|
| 190 |
+
Great work usually entails spending what would seem to most people
|
| 191 |
+
an unreasonable amount of time on a problem. You can't think of
|
| 192 |
+
this time as a cost, or it will seem too high. You have to find the
|
| 193 |
+
work sufficiently engaging as it's happening.<br /><br />There may be some jobs where you have to work diligently for years
|
| 194 |
+
at things you hate before you get to the good part, but this is not
|
| 195 |
+
how great work happens. Great work happens by focusing consistently
|
| 196 |
+
on something you're genuinely interested in. When you pause to take
|
| 197 |
+
stock, you're surprised how far you've come.<br /><br />The reason we're surprised is that we underestimate the cumulative
|
| 198 |
+
effect of work. Writing a page a day doesn't sound like much, but
|
| 199 |
+
if you do it every day you'll write a book a year. That's the key:
|
| 200 |
+
consistency. People who do great things don't get a lot done every
|
| 201 |
+
day. They get something done, rather than nothing.<br /><br />If you do work that compounds, you'll get exponential growth. Most
|
| 202 |
+
people who do this do it unconsciously, but it's worth stopping to
|
| 203 |
+
think about. Learning, for example, is an instance of this phenomenon:
|
| 204 |
+
the more you learn about something, the easier it is to learn more.
|
| 205 |
+
Growing an audience is another: the more fans you have, the more
|
| 206 |
+
new fans they'll bring you.<br /><br />The trouble with exponential growth is that the curve feels flat
|
| 207 |
+
in the beginning. It isn't; it's still a wonderful exponential
|
| 208 |
+
curve. But we can't grasp that intuitively, so we underrate exponential
|
| 209 |
+
growth in its early stages.<br /><br />Something that grows exponentially can become so valuable that it's
|
| 210 |
+
worth making an extraordinary effort to get it started. But since
|
| 211 |
+
we underrate exponential growth early on, this too is mostly done
|
| 212 |
+
unconsciously: people push through the initial, unrewarding phase
|
| 213 |
+
of learning something new because they know from experience that
|
| 214 |
+
learning new things always takes an initial push, or they grow their
|
| 215 |
+
audience one fan at a time because they have nothing better to do.
|
| 216 |
+
If people consciously realized they could invest in exponential
|
| 217 |
+
growth, many more would do it.<br /><br /><br /><br /><br /><br />
|
| 218 |
+
Work doesn't just happen when you're trying to. There's a kind of
|
| 219 |
+
undirected thinking you do when walking or taking a shower or lying
|
| 220 |
+
in bed that can be very powerful. By letting your mind wander a
|
| 221 |
+
little, you'll often solve problems you were unable to solve by
|
| 222 |
+
frontal attack.<br /><br />You have to be working hard in the normal way to benefit from this
|
| 223 |
+
phenomenon, though. You can't just walk around daydreaming. The
|
| 224 |
+
daydreaming has to be interleaved with deliberate work that feeds
|
| 225 |
+
it questions.
|
| 226 |
+
<font color=#dddddd>[<a href="#f10n"><font color=#dddddd>10</font></a>]</font><br /><br />Everyone knows to avoid distractions at work, but it's also important
|
| 227 |
+
to avoid them in the other half of the cycle. When you let your
|
| 228 |
+
mind wander, it wanders to whatever you care about most at that
|
| 229 |
+
moment. So avoid the kind of distraction that pushes your work out
|
| 230 |
+
of the top spot, or you'll waste this valuable type of thinking on
|
| 231 |
+
the distraction instead. (Exception: Don't avoid love.)<br /><br /><br /><br /><br /><br />
|
| 232 |
+
Consciously cultivate your taste in the work done in your field.
|
| 233 |
+
Until you know which is the best and what makes it so, you don't
|
| 234 |
+
know what you're aiming for.<br /><br />And that <i>is</i> what you're aiming for, because if you don't try to
|
| 235 |
+
be the best, you won't even be good. This observation has been made
|
| 236 |
+
by so many people in so many different fields that it might be worth
|
| 237 |
+
thinking about why it's true. It could be because ambition is a
|
| 238 |
+
phenomenon where almost all the error is in one direction — where
|
| 239 |
+
almost all the shells that miss the target miss by falling short.
|
| 240 |
+
Or it could be because ambition to be the best is a qualitatively
|
| 241 |
+
different thing from ambition to be good. Or maybe being good is
|
| 242 |
+
simply too vague a standard. Probably all three are true.
|
| 243 |
+
<font color=#dddddd>[<a href="#f11n"><font color=#dddddd>11</font></a>]</font><br /><br />Fortunately there's a kind of economy of scale here. Though it might
|
| 244 |
+
seem like you'd be taking on a heavy burden by trying to be the
|
| 245 |
+
best, in practice you often end up net ahead. It's exciting, and
|
| 246 |
+
also strangely liberating. It simplifies things. In some ways it's
|
| 247 |
+
easier to try to be the best than to try merely to be good.<br /><br />One way to aim high is to try to make something that people will
|
| 248 |
+
care about in a hundred years. Not because their opinions matter
|
| 249 |
+
more than your contemporaries', but because something that still
|
| 250 |
+
seems good in a hundred years is more likely to be genuinely good.<br /><br /><br /><br /><br /><br />
|
| 251 |
+
Don't try to work in a distinctive style. Just try to do the best
|
| 252 |
+
job you can; you won't be able to help doing it in a distinctive
|
| 253 |
+
way.<br /><br />Style is doing things in a distinctive way without trying to. Trying
|
| 254 |
+
to is affectation.<br /><br />Affectation is in effect to pretend that someone other than you is
|
| 255 |
+
doing the work. You adopt an impressive but fake persona, and while
|
| 256 |
+
you're pleased with the impressiveness, the fakeness is what shows
|
| 257 |
+
in the work.
|
| 258 |
+
<font color=#dddddd>[<a href="#f12n"><font color=#dddddd>12</font></a>]</font><br /><br />The temptation to be someone else is greatest for the young. They
|
| 259 |
+
often feel like nobodies. But you never need to worry about that
|
| 260 |
+
problem, because it's self-solving if you work on sufficiently
|
| 261 |
+
ambitious projects. If you succeed at an ambitious project, you're
|
| 262 |
+
not a nobody; you're the person who did it. So just do the work and
|
| 263 |
+
your identity will take care of itself.<br /><br /><br /><br /><br /><br />
|
| 264 |
+
"Avoid affectation" is a useful rule so far as it goes, but how
|
| 265 |
+
would you express this idea positively? How would you say what to
|
| 266 |
+
be, instead of what not to be? The best answer is earnest. If you're
|
| 267 |
+
earnest you avoid not just affectation but a whole set of similar
|
| 268 |
+
vices.<br /><br />The core of being earnest is being intellectually honest. We're
|
| 269 |
+
taught as children to be honest as an unselfish virtue — as a kind
|
| 270 |
+
of sacrifice. But in fact it's a source of power too. To see new
|
| 271 |
+
ideas, you need an exceptionally sharp eye for the truth. You're
|
| 272 |
+
trying to see more truth than others have seen so far. And how can
|
| 273 |
+
you have a sharp eye for the truth if you're intellectually dishonest?<br /><br />One way to avoid intellectual dishonesty is to maintain a slight
|
| 274 |
+
positive pressure in the opposite direction. Be aggressively willing
|
| 275 |
+
to admit that you're mistaken. Once you've admitted you were mistaken
|
| 276 |
+
about something, you're free. Till then you have to carry it.
|
| 277 |
+
<font color=#dddddd>[<a href="#f13n"><font color=#dddddd>13</font></a>]</font><br /><br />Another more subtle component of earnestness is informality.
|
| 278 |
+
Informality is much more important than its grammatically negative
|
| 279 |
+
name implies. It's not merely the absence of something. It means
|
| 280 |
+
focusing on what matters instead of what doesn't.<br /><br />What formality and affectation have in common is that as well as
|
| 281 |
+
doing the work, you're trying to seem a certain way as you're doing
|
| 282 |
+
it. But any energy that goes into how you seem comes out of being
|
| 283 |
+
good. That's one reason nerds have an advantage in doing great work:
|
| 284 |
+
they expend little effort on seeming anything. In fact that's
|
| 285 |
+
basically the definition of a nerd.<br /><br />Nerds have a kind of innocent boldness that's exactly what you need
|
| 286 |
+
in doing great work. It's not learned; it's preserved from childhood.
|
| 287 |
+
So hold onto it. Be the one who puts things out there rather than
|
| 288 |
+
the one who sits back and offers sophisticated-sounding criticisms
|
| 289 |
+
of them. "It's easy to criticize" is true in the most literal sense,
|
| 290 |
+
and the route to great work is never easy.<br /><br />There may be some jobs where it's an advantage to be cynical and
|
| 291 |
+
pessimistic, but if you want to do great work it's an advantage to
|
| 292 |
+
be optimistic, even though that means you'll risk looking like a
|
| 293 |
+
fool sometimes. There's an old tradition of doing the opposite. The
|
| 294 |
+
Old Testament says it's better to keep quiet lest you look like a
|
| 295 |
+
fool. But that's advice for <i>seeming</i> smart. If you actually want
|
| 296 |
+
to discover new things, it's better to take the risk of telling
|
| 297 |
+
people your ideas.<br /><br />Some people are naturally earnest, and with others it takes a
|
| 298 |
+
conscious effort. Either kind of earnestness will suffice. But I
|
| 299 |
+
doubt it would be possible to do great work without being earnest.
|
| 300 |
+
It's so hard to do even if you are. You don't have enough margin
|
| 301 |
+
for error to accommodate the distortions introduced by being affected,
|
| 302 |
+
intellectually dishonest, orthodox, fashionable, or cool.
|
| 303 |
+
<font color=#dddddd>[<a href="#f14n"><font color=#dddddd>14</font></a>]</font><br /><br /><br /><br /><br /><br />
|
| 304 |
+
Great work is consistent not only with who did it, but with itself.
|
| 305 |
+
It's usually all of a piece. So if you face a decision in the middle
|
| 306 |
+
of working on something, ask which choice is more consistent.<br /><br />You may have to throw things away and redo them. You won't necessarily
|
| 307 |
+
have to, but you have to be willing to. And that can take some
|
| 308 |
+
effort; when there's something you need to redo, status quo bias
|
| 309 |
+
and laziness will combine to keep you in denial about it. To beat
|
| 310 |
+
this ask: If I'd already made the change, would I want to revert
|
| 311 |
+
to what I have now?<br /><br />Have the confidence to cut. Don't keep something that doesn't fit
|
| 312 |
+
just because you're proud of it, or because it cost you a lot of
|
| 313 |
+
effort.<br /><br />Indeed, in some kinds of work it's good to strip whatever you're
|
| 314 |
+
doing to its essence. The result will be more concentrated; you'll
|
| 315 |
+
understand it better; and you won't be able to lie to yourself about
|
| 316 |
+
whether there's anything real there.<br /><br />Mathematical elegance may sound like a mere metaphor, drawn from
|
| 317 |
+
the arts. That's what I thought when I first heard the term "elegant"
|
| 318 |
+
applied to a proof. But now I suspect it's conceptually prior —
|
| 319 |
+
that the main ingredient in artistic elegance is mathematical
|
| 320 |
+
elegance. At any rate it's a useful standard well beyond math.<br /><br />Elegance can be a long-term bet, though. Laborious solutions will
|
| 321 |
+
often have more prestige in the short term. They cost a lot of
|
| 322 |
+
effort and they're hard to understand, both of which impress people,
|
| 323 |
+
at least temporarily.<br /><br />Whereas some of the very best work will seem like it took comparatively
|
| 324 |
+
little effort, because it was in a sense already there. It didn't
|
| 325 |
+
have to be built, just seen. It's a very good sign when it's hard
|
| 326 |
+
to say whether you're creating something or discovering it.<br /><br />When you're doing work that could be seen as either creation or
|
| 327 |
+
discovery, err on the side of discovery. Try thinking of yourself
|
| 328 |
+
as a mere conduit through which the ideas take their natural shape.<br /><br />(Strangely enough, one exception is the problem of choosing a problem
|
| 329 |
+
to work on. This is usually seen as search, but in the best case
|
| 330 |
+
it's more like creating something. In the best case you create the
|
| 331 |
+
field in the process of exploring it.)<br /><br />Similarly, if you're trying to build a powerful tool, make it
|
| 332 |
+
gratuitously unrestrictive. A powerful tool almost by definition
|
| 333 |
+
will be used in ways you didn't expect, so err on the side of
|
| 334 |
+
eliminating restrictions, even if you don't know what the benefit
|
| 335 |
+
will be.<br /><br />Great work will often be tool-like in the sense of being something
|
| 336 |
+
others build on. So it's a good sign if you're creating ideas that
|
| 337 |
+
others could use, or exposing questions that others could answer.
|
| 338 |
+
The best ideas have implications in many different areas.<br /><br />If you express your ideas in the most general form, they'll be truer
|
| 339 |
+
than you intended.<br /><br /><br /><br /><br /><br />
|
| 340 |
+
True by itself is not enough, of course. Great ideas have to be
|
| 341 |
+
true and new. And it takes a certain amount of ability to see new
|
| 342 |
+
ideas even once you've learned enough to get to one of the frontiers
|
| 343 |
+
of knowledge.<br /><br />In English we give this ability names like originality, creativity,
|
| 344 |
+
and imagination. And it seems reasonable to give it a separate name,
|
| 345 |
+
because it does seem to some extent a separate skill. It's possible
|
| 346 |
+
to have a great deal of ability in other respects — to have a great
|
| 347 |
+
deal of what's often called <i>technical</i> ability — and yet not have
|
| 348 |
+
much of this.<br /><br />I've never liked the term "creative process." It seems misleading.
|
| 349 |
+
Originality isn't a process, but a habit of mind. Original thinkers
|
| 350 |
+
throw off new ideas about whatever they focus on, like an angle
|
| 351 |
+
grinder throwing off sparks. They can't help it.<br /><br />If the thing they're focused on is something they don't understand
|
| 352 |
+
very well, these new ideas might not be good. One of the most
|
| 353 |
+
original thinkers I know decided to focus on dating after he got
|
| 354 |
+
divorced. He knew roughly as much about dating as the average 15
|
| 355 |
+
year old, and the results were spectacularly colorful. But to see
|
| 356 |
+
originality separated from expertise like that made its nature all
|
| 357 |
+
the more clear.<br /><br />I don't know if it's possible to cultivate originality, but there
|
| 358 |
+
are definitely ways to make the most of however much you have. For
|
| 359 |
+
example, you're much more likely to have original ideas when you're
|
| 360 |
+
working on something. Original ideas don't come from trying to have
|
| 361 |
+
original ideas. They come from trying to build or understand something
|
| 362 |
+
slightly too difficult.
|
| 363 |
+
<font color=#dddddd>[<a href="#f15n"><font color=#dddddd>15</font></a>]</font><br /><br />Talking or writing about the things you're interested in is a good
|
| 364 |
+
way to generate new ideas. When you try to put ideas into words, a
|
| 365 |
+
missing idea creates a sort of vacuum that draws it out of you.
|
| 366 |
+
Indeed, there's a kind of thinking that can only be done by writing.<br /><br />Changing your context can help. If you visit a new place, you'll
|
| 367 |
+
often find you have new ideas there. The journey itself often
|
| 368 |
+
dislodges them. But you may not have to go far to get this benefit.
|
| 369 |
+
Sometimes it's enough just to go for a walk.
|
| 370 |
+
<font color=#dddddd>[<a href="#f16n"><font color=#dddddd>16</font></a>]</font><br /><br />It also helps to travel in topic space. You'll have more new ideas
|
| 371 |
+
if you explore lots of different topics, partly because it gives
|
| 372 |
+
the angle grinder more surface area to work on, and partly because
|
| 373 |
+
analogies are an especially fruitful source of new ideas.<br /><br />Don't divide your attention <i>evenly</i> between many topics though,
|
| 374 |
+
or you'll spread yourself too thin. You want to distribute it
|
| 375 |
+
according to something more like a power law.
|
| 376 |
+
<font color=#dddddd>[<a href="#f17n"><font color=#dddddd>17</font></a>]</font>
|
| 377 |
+
Be professionally
|
| 378 |
+
curious about a few topics and idly curious about many more.<br /><br />Curiosity and originality are closely related. Curiosity feeds
|
| 379 |
+
originality by giving it new things to work on. But the relationship
|
| 380 |
+
is closer than that. Curiosity is itself a kind of originality;
|
| 381 |
+
it's roughly to questions what originality is to answers. And since
|
| 382 |
+
questions at their best are a big component of answers, curiosity
|
| 383 |
+
at its best is a creative force.<br /><br /><br /><br /><br /><br />
|
| 384 |
+
Having new ideas is a strange game, because it usually consists of
|
| 385 |
+
seeing things that were right under your nose. Once you've seen a
|
| 386 |
+
new idea, it tends to seem obvious. Why did no one think of this
|
| 387 |
+
before?<br /><br />When an idea seems simultaneously novel and obvious, it's probably
|
| 388 |
+
a good one.<br /><br />Seeing something obvious sounds easy. And yet empirically having
|
| 389 |
+
new ideas is hard. What's the source of this apparent contradiction?
|
| 390 |
+
It's that seeing the new idea usually requires you to change the
|
| 391 |
+
way you look at the world. We see the world through models that
|
| 392 |
+
both help and constrain us. When you fix a broken model, new ideas
|
| 393 |
+
become obvious. But noticing and fixing a broken model is hard.
|
| 394 |
+
That's how new ideas can be both obvious and yet hard to discover:
|
| 395 |
+
they're easy to see after you do something hard.<br /><br />One way to discover broken models is to be stricter than other
|
| 396 |
+
people. Broken models of the world leave a trail of clues where
|
| 397 |
+
they bash against reality. Most people don't want to see these
|
| 398 |
+
clues. It would be an understatement to say that they're attached
|
| 399 |
+
to their current model; it's what they think in; so they'll tend
|
| 400 |
+
to ignore the trail of clues left by its breakage, however conspicuous
|
| 401 |
+
it may seem in retrospect.<br /><br />To find new ideas you have to seize on signs of breakage instead
|
| 402 |
+
of looking away. That's what Einstein did. He was able to see the
|
| 403 |
+
wild implications of Maxwell's equations not so much because he was
|
| 404 |
+
looking for new ideas as because he was stricter.<br /><br />The other thing you need is a willingness to break rules. Paradoxical
|
| 405 |
+
as it sounds, if you want to fix your model of the world, it helps
|
| 406 |
+
to be the sort of person who's comfortable breaking rules. From the
|
| 407 |
+
point of view of the old model, which everyone including you initially
|
| 408 |
+
shares, the new model usually breaks at least implicit rules.<br /><br />Few understand the degree of rule-breaking required, because new
|
| 409 |
+
ideas seem much more conservative once they succeed. They seem
|
| 410 |
+
perfectly reasonable once you're using the new model of the world
|
| 411 |
+
they brought with them. But they didn't at the time; it took the
|
| 412 |
+
greater part of a century for the heliocentric model to be generally
|
| 413 |
+
accepted, even among astronomers, because it felt so wrong.<br /><br />Indeed, if you think about it, a good new idea has to seem bad to
|
| 414 |
+
most people, or someone would have already explored it. So what
|
| 415 |
+
you're looking for is ideas that seem crazy, but the right kind of
|
| 416 |
+
crazy. How do you recognize these? You can't with certainty. Often
|
| 417 |
+
ideas that seem bad are bad. But ideas that are the right kind of
|
| 418 |
+
crazy tend to be exciting; they're rich in implications; whereas
|
| 419 |
+
ideas that are merely bad tend to be depressing.<br /><br />There are two ways to be comfortable breaking rules: to enjoy
|
| 420 |
+
breaking them, and to be indifferent to them. I call these two cases
|
| 421 |
+
being aggressively and passively independent-minded.<br /><br />The aggressively independent-minded are the naughty ones. Rules
|
| 422 |
+
don't merely fail to stop them; breaking rules gives them additional
|
| 423 |
+
energy. For this sort of person, delight at the sheer audacity of
|
| 424 |
+
a project sometimes supplies enough activation energy to get it
|
| 425 |
+
started.<br /><br />The other way to break rules is not to care about them, or perhaps
|
| 426 |
+
even to know they exist. This is why novices and outsiders often
|
| 427 |
+
make new discoveries; their ignorance of a field's assumptions acts
|
| 428 |
+
as a source of temporary passive independent-mindedness. Aspies
|
| 429 |
+
also seem to have a kind of immunity to conventional beliefs.
|
| 430 |
+
Several I know say that this helps them to have new ideas.<br /><br />Strictness plus rule-breaking sounds like a strange combination.
|
| 431 |
+
In popular culture they're opposed. But popular culture has a broken
|
| 432 |
+
model in this respect. It implicitly assumes that issues are trivial
|
| 433 |
+
ones, and in trivial matters strictness and rule-breaking <i>are</i>
|
| 434 |
+
opposed. But in questions that really matter, only rule-breakers
|
| 435 |
+
can be truly strict.<br /><br /><br /><br /><br /><br />
|
| 436 |
+
An overlooked idea often doesn't lose till the semifinals. You do
|
| 437 |
+
see it, subconsciously, but then another part of your subconscious
|
| 438 |
+
shoots it down because it would be too weird, too risky, too much
|
| 439 |
+
work, too controversial. This suggests an exciting possibility: if
|
| 440 |
+
you could turn off such filters, you could see more new ideas.<br /><br />One way to do that is to ask what would be good ideas for <i>someone
|
| 441 |
+
else</i> to explore. Then your subconscious won't shoot them down to
|
| 442 |
+
protect you.<br /><br />You could also discover overlooked ideas by working in the other
|
| 443 |
+
direction: by starting from what's obscuring them. Every cherished
|
| 444 |
+
but mistaken principle is surrounded by a dead zone of valuable
|
| 445 |
+
ideas that are unexplored because they contradict it.<br /><br />Religions are collections of cherished but mistaken principles. So
|
| 446 |
+
anything that can be described either literally or metaphorically
|
| 447 |
+
as a religion will have valuable unexplored ideas in its shadow.
|
| 448 |
+
Copernicus and Darwin both made discoveries of this type.
|
| 449 |
+
<font color=#dddddd>[<a href="#f18n"><font color=#dddddd>18</font></a>]</font><br /><br />What are people in your field religious about, in the sense of being
|
| 450 |
+
too attached to some principle that might not be as self-evident
|
| 451 |
+
as they think? What becomes possible if you discard it?<br /><br /><br /><br /><br /><br />
|
| 452 |
+
People show much more originality in solving problems than in
|
| 453 |
+
deciding which problems to solve. Even the smartest can be surprisingly
|
| 454 |
+
conservative when deciding what to work on. People who'd never dream
|
| 455 |
+
of being fashionable in any other way get sucked into working on
|
| 456 |
+
fashionable problems.<br /><br />One reason people are more conservative when choosing problems than
|
| 457 |
+
solutions is that problems are bigger bets. A problem could occupy
|
| 458 |
+
you for years, while exploring a solution might only take days. But
|
| 459 |
+
even so I think most people are too conservative. They're not merely
|
| 460 |
+
responding to risk, but to fashion as well. Unfashionable problems
|
| 461 |
+
are undervalued.<br /><br />One of the most interesting kinds of unfashionable problem is the
|
| 462 |
+
problem that people think has been fully explored, but hasn't.
|
| 463 |
+
Great work often takes something that already exists and shows its
|
| 464 |
+
latent potential. Durer and Watt both did this. So if you're
|
| 465 |
+
interested in a field that others think is tapped out, don't let
|
| 466 |
+
their skepticism deter you. People are often wrong about this.<br /><br />Working on an unfashionable problem can be very pleasing. There's
|
| 467 |
+
no hype or hurry. Opportunists and critics are both occupied
|
| 468 |
+
elsewhere. The existing work often has an old-school solidity. And
|
| 469 |
+
there's a satisfying sense of economy in cultivating ideas that
|
| 470 |
+
would otherwise be wasted.<br /><br />But the most common type of overlooked problem is not explicitly
|
| 471 |
+
unfashionable in the sense of being out of fashion. It just doesn't
|
| 472 |
+
seem to matter as much as it actually does. How do you find these?
|
| 473 |
+
By being self-indulgent — by letting your curiosity have its way,
|
| 474 |
+
and tuning out, at least temporarily, the little voice in your head
|
| 475 |
+
that says you should only be working on "important" problems.<br /><br />You do need to work on important problems, but almost everyone is
|
| 476 |
+
too conservative about what counts as one. And if there's an important
|
| 477 |
+
but overlooked problem in your neighborhood, it's probably already
|
| 478 |
+
on your subconscious radar screen. So try asking yourself: if you
|
| 479 |
+
were going to take a break from "serious" work to work on something
|
| 480 |
+
just because it would be really interesting, what would you do? The
|
| 481 |
+
answer is probably more important than it seems.<br /><br />Originality in choosing problems seems to matter even more than
|
| 482 |
+
originality in solving them. That's what distinguishes the people
|
| 483 |
+
who discover whole new fields. So what might seem to be merely the
|
| 484 |
+
initial step — deciding what to work on — is in a sense the key
|
| 485 |
+
to the whole game.<br /><br /><br /><br /><br /><br />
|
| 486 |
+
Few grasp this. One of the biggest misconceptions about new ideas
|
| 487 |
+
is about the ratio of question to answer in their composition.
|
| 488 |
+
People think big ideas are answers, but often the real insight was
|
| 489 |
+
in the question.<br /><br />Part of the reason we underrate questions is the way they're used
|
| 490 |
+
in schools. In schools they tend to exist only briefly before being
|
| 491 |
+
answered, like unstable particles. But a really good question can
|
| 492 |
+
be much more than that. A really good question is a partial discovery.
|
| 493 |
+
How do new species arise? Is the force that makes objects fall to
|
| 494 |
+
earth the same as the one that keeps planets in their orbits? By
|
| 495 |
+
even asking such questions you were already in excitingly novel
|
| 496 |
+
territory.<br /><br />Unanswered questions can be uncomfortable things to carry around
|
| 497 |
+
with you. But the more you're carrying, the greater the chance of
|
| 498 |
+
noticing a solution — or perhaps even more excitingly, noticing
|
| 499 |
+
that two unanswered questions are the same.<br /><br />Sometimes you carry a question for a long time. Great work often
|
| 500 |
+
comes from returning to a question you first noticed years before
|
| 501 |
+
— in your childhood, even — and couldn't stop thinking about.
|
| 502 |
+
People talk a lot about the importance of keeping your youthful
|
| 503 |
+
dreams alive, but it's just as important to keep your youthful
|
| 504 |
+
questions alive.
|
| 505 |
+
<font color=#dddddd>[<a href="#f19n"><font color=#dddddd>19</font></a>]</font><br /><br />This is one of the places where actual expertise differs most from
|
| 506 |
+
the popular picture of it. In the popular picture, experts are
|
| 507 |
+
certain. But actually the more puzzled you are, the better, so long
|
| 508 |
+
as (a) the things you're puzzled about matter, and (b) no one else
|
| 509 |
+
understands them either.<br /><br />Think about what's happening at the moment just before a new idea
|
| 510 |
+
is discovered. Often someone with sufficient expertise is puzzled
|
| 511 |
+
about something. Which means that originality consists partly of
|
| 512 |
+
puzzlement — of confusion! You have to be comfortable enough with
|
| 513 |
+
the world being full of puzzles that you're willing to see them,
|
| 514 |
+
but not so comfortable that you don't want to solve them.
|
| 515 |
+
<font color=#dddddd>[<a href="#f20n"><font color=#dddddd>20</font></a>]</font><br /><br />It's a great thing to be rich in unanswered questions. And this is
|
| 516 |
+
one of those situations where the rich get richer, because the best
|
| 517 |
+
way to acquire new questions is to try answering existing ones.
|
| 518 |
+
Questions don't just lead to answers, but also to more questions.<br /><br /><br /><br /><br /><br />
|
| 519 |
+
The best questions grow in the answering. You notice a thread
|
| 520 |
+
protruding from the current paradigm and try pulling on it, and it
|
| 521 |
+
just gets longer and longer. So don't require a question to be
|
| 522 |
+
obviously big before you try answering it. You can rarely predict
|
| 523 |
+
that. It's hard enough even to notice the thread, let alone to
|
| 524 |
+
predict how much will unravel if you pull on it.<br /><br />It's better to be promiscuously curious — to pull a little bit on
|
| 525 |
+
a lot of threads, and see what happens. Big things start small. The
|
| 526 |
+
initial versions of big things were often just experiments, or side
|
| 527 |
+
projects, or talks, which then grew into something bigger. So start
|
| 528 |
+
lots of small things.<br /><br />Being prolific is underrated. The more different things you try,
|
| 529 |
+
the greater the chance of discovering something new. Understand,
|
| 530 |
+
though, that trying lots of things will mean trying lots of things
|
| 531 |
+
that don't work. You can't have a lot of good ideas without also
|
| 532 |
+
having a lot of bad ones.
|
| 533 |
+
<font color=#dddddd>[<a href="#f21n"><font color=#dddddd>21</font></a>]</font><br /><br />Though it sounds more responsible to begin by studying everything
|
| 534 |
+
that's been done before, you'll learn faster and have more fun by
|
| 535 |
+
trying stuff. And you'll understand previous work better when you
|
| 536 |
+
do look at it. So err on the side of starting. Which is easier when
|
| 537 |
+
starting means starting small; those two ideas fit together like
|
| 538 |
+
two puzzle pieces.<br /><br />How do you get from starting small to doing something great? By
|
| 539 |
+
making successive versions. Great things are almost always made in
|
| 540 |
+
successive versions. You start with something small and evolve it,
|
| 541 |
+
and the final version is both cleverer and more ambitious than
|
| 542 |
+
anything you could have planned.<br /><br />It's particularly useful to make successive versions when you're
|
| 543 |
+
making something for people — to get an initial version in front
|
| 544 |
+
of them quickly, and then evolve it based on their response.<br /><br />Begin by trying the simplest thing that could possibly work.
|
| 545 |
+
Surprisingly often, it does. If it doesn't, this will at least get
|
| 546 |
+
you started.<br /><br />Don't try to cram too much new stuff into any one version. There
|
| 547 |
+
are names for doing this with the first version (taking too long
|
| 548 |
+
to ship) and the second (the second system effect), but these are
|
| 549 |
+
both merely instances of a more general principle.<br /><br />An early version of a new project will sometimes be dismissed as a
|
| 550 |
+
toy. It's a good sign when people do this. That means it has
|
| 551 |
+
everything a new idea needs except scale, and that tends to follow.
|
| 552 |
+
<font color=#dddddd>[<a href="#f22n"><font color=#dddddd>22</font></a>]</font><br /><br />The alternative to starting with something small and evolving it
|
| 553 |
+
is to plan in advance what you're going to do. And planning does
|
| 554 |
+
usually seem the more responsible choice. It sounds more organized
|
| 555 |
+
to say "we're going to do x and then y and then z" than "we're going
|
| 556 |
+
to try x and see what happens." And it is more <i>organized</i>; it just
|
| 557 |
+
doesn't work as well.<br /><br />Planning per se isn't good. It's sometimes necessary, but it's a
|
| 558 |
+
necessary evil — a response to unforgiving conditions. It's something
|
| 559 |
+
you have to do because you're working with inflexible media, or
|
| 560 |
+
because you need to coordinate the efforts of a lot of people. If
|
| 561 |
+
you keep projects small and use flexible media, you don't have to
|
| 562 |
+
plan as much, and your designs can evolve instead.<br /><br /><br /><br /><br /><br />
|
| 563 |
+
Take as much risk as you can afford. In an efficient market, risk
|
| 564 |
+
is proportionate to reward, so don't look for certainty, but for a
|
| 565 |
+
bet with high expected value. If you're not failing occasionally,
|
| 566 |
+
you're probably being too conservative.<br /><br />Though conservatism is usually associated with the old, it's the
|
| 567 |
+
young who tend to make this mistake. Inexperience makes them fear
|
| 568 |
+
risk, but it's when you're young that you can afford the most.<br /><br />Even a project that fails can be valuable. In the process of working
|
| 569 |
+
on it, you'll have crossed territory few others have seen, and
|
| 570 |
+
encountered questions few others have asked. And there's probably
|
| 571 |
+
no better source of questions than the ones you encounter in trying
|
| 572 |
+
to do something slightly too hard.<br /><br /><br /><br /><br /><br />
|
| 573 |
+
Use the advantages of youth when you have them, and the advantages
|
| 574 |
+
of age once you have those. The advantages of youth are energy,
|
| 575 |
+
time, optimism, and freedom. The advantages of age are knowledge,
|
| 576 |
+
efficiency, money, and power. With effort you can acquire some of
|
| 577 |
+
the latter when young and keep some of the former when old.<br /><br />The old also have the advantage of knowing which advantages they
|
| 578 |
+
have. The young often have them without realizing it. The biggest
|
| 579 |
+
is probably time. The young have no idea how rich they are in time.
|
| 580 |
+
The best way to turn this time to advantage is to use it in slightly
|
| 581 |
+
frivolous ways: to learn about something you don't need to know
|
| 582 |
+
about, just out of curiosity, or to try building something just
|
| 583 |
+
because it would be cool, or to become freakishly good at something.<br /><br />That "slightly" is an important qualification. Spend time lavishly
|
| 584 |
+
when you're young, but don't simply waste it. There's a big difference
|
| 585 |
+
between doing something you worry might be a waste of time and doing
|
| 586 |
+
something you know for sure will be. The former is at least a bet,
|
| 587 |
+
and possibly a better one than you think.
|
| 588 |
+
<font color=#dddddd>[<a href="#f23n"><font color=#dddddd>23</font></a>]</font><br /><br />The most subtle advantage of youth, or more precisely of inexperience,
|
| 589 |
+
is that you're seeing everything with fresh eyes. When your brain
|
| 590 |
+
embraces an idea for the first time, sometimes the two don't fit
|
| 591 |
+
together perfectly. Usually the problem is with your brain, but
|
| 592 |
+
occasionally it's with the idea. A piece of it sticks out awkwardly
|
| 593 |
+
and jabs you when you think about it. People who are used to the
|
| 594 |
+
idea have learned to ignore it, but you have the opportunity not
|
| 595 |
+
to.
|
| 596 |
+
<font color=#dddddd>[<a href="#f24n"><font color=#dddddd>24</font></a>]</font><br /><br />So when you're learning about something for the first time, pay
|
| 597 |
+
attention to things that seem wrong or missing. You'll be tempted
|
| 598 |
+
to ignore them, since there's a 99% chance the problem is with you.
|
| 599 |
+
And you may have to set aside your misgivings temporarily to keep
|
| 600 |
+
progressing. But don't forget about them. When you've gotten further
|
| 601 |
+
into the subject, come back and check if they're still there. If
|
| 602 |
+
they're still viable in the light of your present knowledge, they
|
| 603 |
+
probably represent an undiscovered idea.<br /><br /><br /><br /><br /><br />
|
| 604 |
+
One of the most valuable kinds of knowledge you get from experience
|
| 605 |
+
is to know what you <i>don't</i> have to worry about. The young know all
|
| 606 |
+
the things that could matter, but not their relative importance.
|
| 607 |
+
So they worry equally about everything, when they should worry much
|
| 608 |
+
more about a few things and hardly at all about the rest.<br /><br />But what you don't know is only half the problem with inexperience.
|
| 609 |
+
The other half is what you do know that ain't so. You arrive at
|
| 610 |
+
adulthood with your head full of nonsense — bad habits you've
|
| 611 |
+
acquired and false things you've been taught — and you won't be
|
| 612 |
+
able to do great work till you clear away at least the nonsense in
|
| 613 |
+
the way of whatever type of work you want to do.<br /><br />Much of the nonsense left in your head is left there by schools.
|
| 614 |
+
We're so used to schools that we unconsciously treat going to school
|
| 615 |
+
as identical with learning, but in fact schools have all sorts of
|
| 616 |
+
strange qualities that warp our ideas about learning and thinking.<br /><br />For example, schools induce passivity. Since you were a small child,
|
| 617 |
+
there was an authority at the front of the class telling all of you
|
| 618 |
+
what you had to learn and then measuring whether you did. But neither
|
| 619 |
+
classes nor tests are intrinsic to learning; they're just artifacts
|
| 620 |
+
of the way schools are usually designed.<br /><br />The sooner you overcome this passivity, the better. If you're still
|
| 621 |
+
in school, try thinking of your education as your project, and your
|
| 622 |
+
teachers as working for you rather than vice versa. That may seem
|
| 623 |
+
a stretch, but it's not merely some weird thought experiment. It's
|
| 624 |
+
the truth economically, and in the best case it's the truth
|
| 625 |
+
intellectually as well. The best teachers don't want to be your
|
| 626 |
+
bosses. They'd prefer it if you pushed ahead, using them as a source
|
| 627 |
+
of advice, rather than being pulled by them through the material.<br /><br />Schools also give you a misleading impression of what work is like.
|
| 628 |
+
In school they tell you what the problems are, and they're almost
|
| 629 |
+
always soluble using no more than you've been taught so far. In
|
| 630 |
+
real life you have to figure out what the problems are, and you
|
| 631 |
+
often don't know if they're soluble at all.<br /><br />But perhaps the worst thing schools do to you is train you to win
|
| 632 |
+
by hacking the test. You can't do great work by doing that. You
|
| 633 |
+
can't trick God. So stop looking for that kind of shortcut. The way
|
| 634 |
+
to beat the system is to focus on problems and solutions that others
|
| 635 |
+
have overlooked, not to skimp on the work itself.<br /><br /><br /><br /><br /><br />
|
| 636 |
+
Don't think of yourself as dependent on some gatekeeper giving you
|
| 637 |
+
a "big break." Even if this were true, the best way to get it would
|
| 638 |
+
be to focus on doing good work rather than chasing influential
|
| 639 |
+
people.<br /><br />And don't take rejection by committees to heart. The qualities that
|
| 640 |
+
impress admissions officers and prize committees are quite different
|
| 641 |
+
from those required to do great work. The decisions of selection
|
| 642 |
+
committees are only meaningful to the extent that they're part of
|
| 643 |
+
a feedback loop, and very few are.<br /><br /><br /><br /><br /><br />
|
| 644 |
+
People new to a field will often copy existing work. There's nothing
|
| 645 |
+
inherently bad about that. There's no better way to learn how
|
| 646 |
+
something works than by trying to reproduce it. Nor does
|
| 647 |
+
copying necessarily make your work unoriginal. Originality is the
|
| 648 |
+
presence of new ideas, not the absence of old ones.<br /><br />There's a good way to copy and a bad way. If you're going to copy
|
| 649 |
+
something, do it openly instead of furtively, or worse still,
|
| 650 |
+
unconsciously. This is what's meant by the famously misattributed
|
| 651 |
+
phrase "Great artists steal." The really dangerous kind of copying,
|
| 652 |
+
the kind that gives copying a bad name, is the kind that's done
|
| 653 |
+
without realizing it, because you're nothing more than a train
|
| 654 |
+
running on tracks laid down by someone else. But at the other
|
| 655 |
+
extreme, copying can be a sign of superiority rather than subordination.
|
| 656 |
+
<font color=#dddddd>[<a href="#f25n"><font color=#dddddd>25</font></a>]</font><br /><br />In many fields it's almost inevitable that your early work will be
|
| 657 |
+
in some sense based on other people's. Projects rarely arise in a
|
| 658 |
+
vacuum. They're usually a reaction to previous work. When you're
|
| 659 |
+
first starting out, you don't have any previous work; if you're
|
| 660 |
+
going to react to something, it has to be someone else's. Once
|
| 661 |
+
you're established, you can react to your own. But while the former
|
| 662 |
+
gets called derivative and the latter doesn't, structurally the two
|
| 663 |
+
cases are more similar than they seem.<br /><br />Oddly enough, the very novelty of the most novel ideas sometimes
|
| 664 |
+
makes them seem at first to be more derivative than they are. New
|
| 665 |
+
discoveries often have to be conceived initially as variations of
|
| 666 |
+
existing things, <i>even by their discoverers</i>, because there isn't
|
| 667 |
+
yet the conceptual vocabulary to express them.<br /><br />There are definitely some dangers to copying, though. One is that
|
| 668 |
+
you'll tend to copy old things — things that were in their day at
|
| 669 |
+
the frontier of knowledge, but no longer are.<br /><br />And when you do copy something, don't copy every feature of it.
|
| 670 |
+
Some will make you ridiculous if you do. Don't copy the manner of
|
| 671 |
+
an eminent 50 year old professor if you're 18, for example, or the
|
| 672 |
+
idiom of a Renaissance poem hundreds of years later.<br /><br />Some of the features of things you admire are flaws they succeeded
|
| 673 |
+
despite. Indeed, the features that are easiest to imitate are the
|
| 674 |
+
most likely to be the flaws.<br /><br />This is particularly true for behavior. Some talented people are
|
| 675 |
+
jerks, and this sometimes makes it seem to the inexperienced that
|
| 676 |
+
being a jerk is part of being talented. It isn't; being talented
|
| 677 |
+
is merely how they get away with it.<br /><br />One of the most powerful kinds of copying is to copy something from
|
| 678 |
+
one field into another. History is so full of chance discoveries
|
| 679 |
+
of this type that it's probably worth giving chance a hand by
|
| 680 |
+
deliberately learning about other kinds of work. You can take ideas
|
| 681 |
+
from quite distant fields if you let them be metaphors.<br /><br />Negative examples can be as inspiring as positive ones. In fact you
|
| 682 |
+
can sometimes learn more from things done badly than from things
|
| 683 |
+
done well; sometimes it only becomes clear what's needed when it's
|
| 684 |
+
missing.<br /><br /><br /><br /><br /><br />
|
| 685 |
+
If a lot of the best people in your field are collected in one
|
| 686 |
+
place, it's usually a good idea to visit for a while. It will
|
| 687 |
+
increase your ambition, and also, by showing you that these people
|
| 688 |
+
are human, increase your self-confidence.
|
| 689 |
+
<font color=#dddddd>[<a href="#f26n"><font color=#dddddd>26</font></a>]</font><br /><br />If you're earnest you'll probably get a warmer welcome than you
|
| 690 |
+
might expect. Most people who are very good at something are happy
|
| 691 |
+
to talk about it with anyone who's genuinely interested. If they're
|
| 692 |
+
really good at their work, then they probably have a hobbyist's
|
| 693 |
+
interest in it, and hobbyists always want to talk about their
|
| 694 |
+
hobbies.<br /><br />It may take some effort to find the people who are really good,
|
| 695 |
+
though. Doing great work has such prestige that in some places,
|
| 696 |
+
particularly universities, there's a polite fiction that everyone
|
| 697 |
+
is engaged in it. And that is far from true. People within universities
|
| 698 |
+
can't say so openly, but the quality of the work being done in
|
| 699 |
+
different departments varies immensely. Some departments have people
|
| 700 |
+
doing great work; others have in the past; others never have.<br /><br /><br /><br /><br /><br />
|
| 701 |
+
Seek out the best colleagues. There are a lot of projects that can't
|
| 702 |
+
be done alone, and even if you're working on one that can be, it's
|
| 703 |
+
good to have other people to encourage you and to bounce ideas off.<br /><br />Colleagues don't just affect your work, though; they also affect
|
| 704 |
+
you. So work with people you want to become like, because you will.<br /><br />Quality is more important than quantity in colleagues. It's better
|
| 705 |
+
to have one or two great ones than a building full of pretty good
|
| 706 |
+
ones. In fact it's not merely better, but necessary, judging from
|
| 707 |
+
history: the degree to which great work happens in clusters suggests
|
| 708 |
+
that one's colleagues often make the difference between doing great
|
| 709 |
+
work and not.<br /><br />How do you know when you have sufficiently good colleagues? In my
|
| 710 |
+
experience, when you do, you know. Which means if you're unsure,
|
| 711 |
+
you probably don't. But it may be possible to give a more concrete
|
| 712 |
+
answer than that. Here's an attempt: sufficiently good colleagues
|
| 713 |
+
offer <i>surprising</i> insights. They can see and do things that you
|
| 714 |
+
can't. So if you have a handful of colleagues good enough to keep
|
| 715 |
+
you on your toes in this sense, you're probably over the threshold.<br /><br />Most of us can benefit from collaborating with colleagues, but some
|
| 716 |
+
projects require people on a larger scale, and starting one of those
|
| 717 |
+
is not for everyone. If you want to run a project like that, you'll
|
| 718 |
+
have to become a manager, and managing well takes aptitude and
|
| 719 |
+
interest like any other kind of work. If you don't have them, there
|
| 720 |
+
is no middle path: you must either force yourself to learn management
|
| 721 |
+
as a second language, or avoid such projects.
|
| 722 |
+
<font color=#dddddd>[<a href="#f27n"><font color=#dddddd>27</font></a>]</font><br /><br /><br /><br /><br /><br />
|
| 723 |
+
Husband your morale. It's the basis of everything when you're working
|
| 724 |
+
on ambitious projects. You have to nurture and protect it like a
|
| 725 |
+
living organism.<br /><br />Morale starts with your view of life. You're more likely to do great
|
| 726 |
+
work if you're an optimist, and more likely to if you think of
|
| 727 |
+
yourself as lucky than if you think of yourself as a victim.<br /><br />Indeed, work can to some extent protect you from your problems. If
|
| 728 |
+
you choose work that's pure, its very difficulties will serve as a
|
| 729 |
+
refuge from the difficulties of everyday life. If this is escapism,
|
| 730 |
+
it's a very productive form of it, and one that has been used by
|
| 731 |
+
some of the greatest minds in history.<br /><br />Morale compounds via work: high morale helps you do good work, which
|
| 732 |
+
increases your morale and helps you do even better work. But this
|
| 733 |
+
cycle also operates in the other direction: if you're not doing
|
| 734 |
+
good work, that can demoralize you and make it even harder to. Since
|
| 735 |
+
it matters so much for this cycle to be running in the right
|
| 736 |
+
direction, it can be a good idea to switch to easier work when
|
| 737 |
+
you're stuck, just so you start to get something done.<br /><br />One of the biggest mistakes ambitious people make is to allow
|
| 738 |
+
setbacks to destroy their morale all at once, like a balloon bursting.
|
| 739 |
+
You can inoculate yourself against this by explicitly considering
|
| 740 |
+
setbacks a part of your process. Solving hard problems always
|
| 741 |
+
involves some backtracking.<br /><br />Doing great work is a depth-first search whose root node is the
|
| 742 |
+
desire to. So "If at first you don't succeed, try, try again" isn't
|
| 743 |
+
quite right. It should be: If at first you don't succeed, either
|
| 744 |
+
try again, or backtrack and then try again.<br /><br />"Never give up" is also not quite right. Obviously there are times
|
| 745 |
+
when it's the right choice to eject. A more precise version would
|
| 746 |
+
be: Never let setbacks panic you into backtracking more than you
|
| 747 |
+
need to. Corollary: Never abandon the root node.<br /><br />It's not necessarily a bad sign if work is a struggle, any more
|
| 748 |
+
than it's a bad sign to be out of breath while running. It depends
|
| 749 |
+
how fast you're running. So learn to distinguish good pain from
|
| 750 |
+
bad. Good pain is a sign of effort; bad pain is a sign of damage.<br /><br /><br /><br /><br /><br />
|
| 751 |
+
An audience is a critical component of morale. If you're a scholar,
|
| 752 |
+
your audience may be your peers; in the arts, it may be an audience
|
| 753 |
+
in the traditional sense. Either way it doesn't need to be big.
|
| 754 |
+
The value of an audience doesn't grow anything like linearly with
|
| 755 |
+
its size. Which is bad news if you're famous, but good news if
|
| 756 |
+
you're just starting out, because it means a small but dedicated
|
| 757 |
+
audience can be enough to sustain you. If a handful of people
|
| 758 |
+
genuinely love what you're doing, that's enough.<br /><br />To the extent you can, avoid letting intermediaries come between
|
| 759 |
+
you and your audience. In some types of work this is inevitable,
|
| 760 |
+
but it's so liberating to escape it that you might be better off
|
| 761 |
+
switching to an adjacent type if that will let you go direct.
|
| 762 |
+
<font color=#dddddd>[<a href="#f28n"><font color=#dddddd>28</font></a>]</font><br /><br />The people you spend time with will also have a big effect on your
|
| 763 |
+
morale. You'll find there are some who increase your energy and
|
| 764 |
+
others who decrease it, and the effect someone has is not always
|
| 765 |
+
what you'd expect. Seek out the people who increase your energy and
|
| 766 |
+
avoid those who decrease it. Though of course if there's someone
|
| 767 |
+
you need to take care of, that takes precedence.<br /><br />Don't marry someone who doesn't understand that you need to work,
|
| 768 |
+
or sees your work as competition for your attention. If you're
|
| 769 |
+
ambitious, you need to work; it's almost like a medical condition;
|
| 770 |
+
so someone who won't let you work either doesn't understand you,
|
| 771 |
+
or does and doesn't care.<br /><br />Ultimately morale is physical. You think with your body, so it's
|
| 772 |
+
important to take care of it. That means exercising regularly,
|
| 773 |
+
eating and sleeping well, and avoiding the more dangerous kinds of
|
| 774 |
+
drugs. Running and walking are particularly good forms of exercise
|
| 775 |
+
because they're good for thinking.
|
| 776 |
+
<font color=#dddddd>[<a href="#f29n"><font color=#dddddd>29</font></a>]</font><br /><br />People who do great work are not necessarily happier than everyone
|
| 777 |
+
else, but they're happier than they'd be if they didn't. In fact,
|
| 778 |
+
if you're smart and ambitious, it's dangerous <i>not</i> to be productive.
|
| 779 |
+
People who are smart and ambitious but don't achieve much tend to
|
| 780 |
+
become bitter.<br /><br /><br /><br /><br /><br />
|
| 781 |
+
It's ok to want to impress other people, but choose the right people.
|
| 782 |
+
The opinion of people you respect is signal. Fame, which is the
|
| 783 |
+
opinion of a much larger group you might or might not respect, just
|
| 784 |
+
adds noise.<br /><br />The prestige of a type of work is at best a trailing indicator and
|
| 785 |
+
sometimes completely mistaken. If you do anything well enough,
|
| 786 |
+
you'll make it prestigious. So the question to ask about a type of
|
| 787 |
+
work is not how much prestige it has, but how well it could be done.<br /><br />Competition can be an effective motivator, but don't let it choose
|
| 788 |
+
the problem for you; don't let yourself get drawn into chasing
|
| 789 |
+
something just because others are. In fact, don't let competitors
|
| 790 |
+
make you do anything much more specific than work harder.<br /><br />Curiosity is the best guide. Your curiosity never lies, and it knows
|
| 791 |
+
more than you do about what's worth paying attention to.<br /><br /><br /><br /><br /><br />
|
| 792 |
+
Notice how often that word has come up. If you asked an oracle the
|
| 793 |
+
secret to doing great work and the oracle replied with a single
|
| 794 |
+
word, my bet would be on "curiosity."<br /><br />That doesn't translate directly to advice. It's not enough just to
|
| 795 |
+
be curious, and you can't command curiosity anyway. But you can
|
| 796 |
+
nurture it and let it drive you.<br /><br />Curiosity is the key to all four steps in doing great work: it will
|
| 797 |
+
choose the field for you, get you to the frontier, cause you to
|
| 798 |
+
notice the gaps in it, and drive you to explore them. The whole
|
| 799 |
+
process is a kind of dance with curiosity.<br /><br /><br /><br /><br /><br />
|
| 800 |
+
Believe it or not, I tried to make this essay as short as I could.
|
| 801 |
+
But its length at least means it acts as a filter. If you made it
|
| 802 |
+
this far, you must be interested in doing great work. And if so
|
| 803 |
+
you're already further along than you might realize, because the
|
| 804 |
+
set of people willing to want to is small.<br /><br />The factors in doing great work are factors in the literal,
|
| 805 |
+
mathematical sense, and they are: ability, interest, effort, and
|
| 806 |
+
luck. Luck by definition you can't do anything about, so we can
|
| 807 |
+
ignore that. And we can assume effort, if you do in fact want to
|
| 808 |
+
do great work. So the problem boils down to ability and interest.
|
| 809 |
+
Can you find a kind of work where your ability and interest will
|
| 810 |
+
combine to yield an explosion of new ideas?<br /><br />Here there are grounds for optimism. There are so many different
|
| 811 |
+
ways to do great work, and even more that are still undiscovered.
|
| 812 |
+
Out of all those different types of work, the one you're most suited
|
| 813 |
+
for is probably a pretty close match. Probably a comically close
|
| 814 |
+
match. It's just a question of finding it, and how far into it your
|
| 815 |
+
ability and interest can take you. And you can only answer that by
|
| 816 |
+
trying.<br /><br />Many more people could try to do great work than do. What holds
|
| 817 |
+
them back is a combination of modesty and fear. It seems presumptuous
|
| 818 |
+
to try to be Newton or Shakespeare. It also seems hard; surely if
|
| 819 |
+
you tried something like that, you'd fail. Presumably the calculation
|
| 820 |
+
is rarely explicit. Few people consciously decide not to try to do
|
| 821 |
+
great work. But that's what's going on subconsciously; they shy
|
| 822 |
+
away from the question.<br /><br />So I'm going to pull a sneaky trick on you. Do you want to do great
|
| 823 |
+
work, or not? Now you have to decide consciously. Sorry about that.
|
| 824 |
+
I wouldn't have done it to a general audience. But we already know
|
| 825 |
+
you're interested.<br /><br />Don't worry about being presumptuous. You don't have to tell anyone.
|
| 826 |
+
And if it's too hard and you fail, so what? Lots of people have
|
| 827 |
+
worse problems than that. In fact you'll be lucky if it's the worst
|
| 828 |
+
problem you have.<br /><br />Yes, you'll have to work hard. But again, lots of people have to
|
| 829 |
+
work hard. And if you're working on something you find very
|
| 830 |
+
interesting, which you necessarily will if you're on the right path,
|
| 831 |
+
the work will probably feel less burdensome than a lot of your
|
| 832 |
+
peers'.<br /><br />The discoveries are out there, waiting to be made. Why not by you?<br /><br /><br /><br /><br /><br /><br /><br /><br /><br />
|
| 833 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 834 |
+
I don't think you could give a precise definition of what
|
| 835 |
+
counts as great work. Doing great work means doing something important
|
| 836 |
+
so well that you expand people's ideas of what's possible. But
|
| 837 |
+
there's no threshold for importance. It's a matter of degree, and
|
| 838 |
+
often hard to judge at the time anyway. So I'd rather people focused
|
| 839 |
+
on developing their interests rather than worrying about whether
|
| 840 |
+
they're important or not. Just try to do something amazing, and
|
| 841 |
+
leave it to future generations to say if you succeeded.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 842 |
+
A lot of standup comedy is based on noticing anomalies in
|
| 843 |
+
everyday life. "Did you ever notice...?" New ideas come from doing
|
| 844 |
+
this about nontrivial things. Which may help explain why people's
|
| 845 |
+
reaction to a new idea is often the first half of laughing: Ha!<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 846 |
+
That second qualifier is critical. If you're excited about
|
| 847 |
+
something most authorities discount, but you can't give a more
|
| 848 |
+
precise explanation than "they don't get it," then you're starting
|
| 849 |
+
to drift into the territory of cranks.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 850 |
+
Finding something to work on is not simply a matter of finding
|
| 851 |
+
a match between the current version of you and a list of known
|
| 852 |
+
problems. You'll often have to coevolve with the problem. That's
|
| 853 |
+
why it can sometimes be so hard to figure out what to work on. The
|
| 854 |
+
search space is huge. It's the cartesian product of all possible
|
| 855 |
+
types of work, both known and yet to be discovered, and all possible
|
| 856 |
+
future versions of you.<br /><br />There's no way you could search this whole space, so you have to
|
| 857 |
+
rely on heuristics to generate promising paths through it and hope
|
| 858 |
+
the best matches will be clustered. Which they will not always be;
|
| 859 |
+
different types of work have been collected together as much by
|
| 860 |
+
accidents of history as by the intrinsic similarities between them.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 861 |
+
There are many reasons curious people are more likely to do
|
| 862 |
+
great work, but one of the more subtle is that, by casting a wide
|
| 863 |
+
net, they're more likely to find the right thing to work on in the
|
| 864 |
+
first place.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 865 |
+
It can also be dangerous to make things for an audience you
|
| 866 |
+
feel is less sophisticated than you, if that causes you to talk
|
| 867 |
+
down to them. You can make a lot of money doing that, if you do it
|
| 868 |
+
in a sufficiently cynical way, but it's not the route to great work.
|
| 869 |
+
Not that anyone using this m.o. would care.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 870 |
+
This idea I learned from Hardy's <i>A Mathematician's Apology</i>,
|
| 871 |
+
which I recommend to anyone ambitious to do great work, in any
|
| 872 |
+
field.<br /><br />[<a name="f8n"><font color=#000000>8</font></a>]
|
| 873 |
+
Just as we overestimate what we can do in a day and underestimate
|
| 874 |
+
what we can do over several years, we overestimate the damage done
|
| 875 |
+
by procrastinating for a day and underestimate the damage done by
|
| 876 |
+
procrastinating for several years.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 877 |
+
You can't usually get paid for doing exactly what you want,
|
| 878 |
+
especially early on. There are two options: get paid for doing work
|
| 879 |
+
close to what you want and hope to push it closer, or get paid for
|
| 880 |
+
doing something else entirely and do your own projects on the side.
|
| 881 |
+
Both can work, but both have drawbacks: in the first approach your
|
| 882 |
+
work is compromised by default, and in the second you have to fight
|
| 883 |
+
to get time to do it.<br /><br />[<a name="f10n"><font color=#000000>10</font></a>]
|
| 884 |
+
If you set your life up right, it will deliver the focus-relax
|
| 885 |
+
cycle automatically. The perfect setup is an office you work in and
|
| 886 |
+
that you walk to and from.<br /><br />[<a name="f11n"><font color=#000000>11</font></a>]
|
| 887 |
+
There may be some very unworldly people who do great work
|
| 888 |
+
without consciously trying to. If you want to expand this rule to
|
| 889 |
+
cover that case, it becomes: Don't try to be anything except the
|
| 890 |
+
best.<br /><br />[<a name="f12n"><font color=#000000>12</font></a>]
|
| 891 |
+
This gets more complicated in work like acting, where the
|
| 892 |
+
goal is to adopt a fake persona. But even here it's possible to be
|
| 893 |
+
affected. Perhaps the rule in such fields should be to avoid
|
| 894 |
+
<i>unintentional</i> affectation.<br /><br />[<a name="f13n"><font color=#000000>13</font></a>]
|
| 895 |
+
It's safe to have beliefs that you treat as unquestionable
|
| 896 |
+
if and only if they're also unfalsifiable. For example, it's safe
|
| 897 |
+
to have the principle that everyone should be treated equally under
|
| 898 |
+
the law, because a sentence with a "should" in it isn't really a
|
| 899 |
+
statement about the world and is therefore hard to disprove. And
|
| 900 |
+
if there's no evidence that could disprove one of your principles,
|
| 901 |
+
there can't be any facts you'd need to ignore in order to preserve
|
| 902 |
+
it.<br /><br />[<a name="f14n"><font color=#000000>14</font></a>]
|
| 903 |
+
Affectation is easier to cure than intellectual dishonesty.
|
| 904 |
+
Affectation is often a shortcoming of the young that burns off in
|
| 905 |
+
time, while intellectual dishonesty is more of a character flaw.<br /><br />[<a name="f15n"><font color=#000000>15</font></a>]
|
| 906 |
+
Obviously you don't have to be working at the exact moment
|
| 907 |
+
you have the idea, but you'll probably have been working fairly
|
| 908 |
+
recently.<br /><br />[<a name="f16n"><font color=#000000>16</font></a>]
|
| 909 |
+
Some say psychoactive drugs have a similar effect. I'm
|
| 910 |
+
skeptical, but also almost totally ignorant of their effects.<br /><br />[<a name="f17n"><font color=#000000>17</font></a>]
|
| 911 |
+
For example you might give the nth most important topic
|
| 912 |
+
(m-1)/m^n of your attention, for some m > 1. You couldn't allocate
|
| 913 |
+
your attention so precisely, of course, but this at least gives an
|
| 914 |
+
idea of a reasonable distribution.<br /><br />[<a name="f18n"><font color=#000000>18</font></a>]
|
| 915 |
+
The principles defining a religion have to be mistaken.
|
| 916 |
+
Otherwise anyone might adopt them, and there would be nothing to
|
| 917 |
+
distinguish the adherents of the religion from everyone else.<br /><br />[<a name="f19n"><font color=#000000>19</font></a>]
|
| 918 |
+
It might be a good exercise to try writing down a list of
|
| 919 |
+
questions you wondered about in your youth. You might find you're
|
| 920 |
+
now in a position to do something about some of them.<br /><br />[<a name="f20n"><font color=#000000>20</font></a>]
|
| 921 |
+
The connection between originality and uncertainty causes a
|
| 922 |
+
strange phenomenon: because the conventional-minded are more certain
|
| 923 |
+
than the independent-minded, this tends to give them the upper hand
|
| 924 |
+
in disputes, even though they're generally stupider.
|
| 925 |
+
<blockquote>
|
| 926 |
+
The best lack all conviction, while the worst<br>
|
| 927 |
+
Are full of passionate intensity.
|
| 928 |
+
</blockquote>
|
| 929 |
+
[<a name="f21n"><font color=#000000>21</font></a>]
|
| 930 |
+
Derived from Linus Pauling's "If you want to have good ideas,
|
| 931 |
+
you must have many ideas."<br /><br />[<a name="f22n"><font color=#000000>22</font></a>]
|
| 932 |
+
Attacking a project as a "toy" is similar to attacking a
|
| 933 |
+
statement as "inappropriate." It means that no more substantial
|
| 934 |
+
criticism can be made to stick.<br /><br />[<a name="f23n"><font color=#000000>23</font></a>]
|
| 935 |
+
One way to tell whether you're wasting time is to ask if
|
| 936 |
+
you're producing or consuming. Writing computer games is less likely
|
| 937 |
+
to be a waste of time than playing them, and playing games where
|
| 938 |
+
you create something is less likely to be a waste of time than
|
| 939 |
+
playing games where you don't.<br /><br />[<a name="f24n"><font color=#000000>24</font></a>]
|
| 940 |
+
Another related advantage is that if you haven't said anything
|
| 941 |
+
publicly yet, you won't be biased toward evidence that supports
|
| 942 |
+
your earlier conclusions. With sufficient integrity you could achieve
|
| 943 |
+
eternal youth in this respect, but few manage to. For most people,
|
| 944 |
+
having previously published opinions has an effect similar to
|
| 945 |
+
ideology, just in quantity 1.<br /><br />[<a name="f25n"><font color=#000000>25</font></a>]
|
| 946 |
+
In the early 1630s Daniel Mytens made a painting of Henrietta
|
| 947 |
+
Maria handing a laurel wreath to Charles I. Van Dyck then painted
|
| 948 |
+
his own version to show how much better he was.<br /><br />[<a name="f26n"><font color=#000000>26</font></a>]
|
| 949 |
+
I'm being deliberately vague about what a place is. As of
|
| 950 |
+
this writing, being in the same physical place has advantages that
|
| 951 |
+
are hard to duplicate, but that could change.<br /><br />[<a name="f27n"><font color=#000000>27</font></a>]
|
| 952 |
+
This is false when the work the other people have to do is
|
| 953 |
+
very constrained, as with SETI@home or Bitcoin. It may be possible
|
| 954 |
+
to expand the area in which it's false by defining similarly
|
| 955 |
+
restricted protocols with more freedom of action in the nodes.<br /><br />[<a name="f28n"><font color=#000000>28</font></a>]
|
| 956 |
+
Corollary: Building something that enables people to go around
|
| 957 |
+
intermediaries and engage directly with their audience is probably
|
| 958 |
+
a good idea.<br /><br />[<a name="f29n"><font color=#000000>29</font></a>]
|
| 959 |
+
It may be helpful always to walk or run the same route, because
|
| 960 |
+
that frees attention for thinking. It feels that way to me, and
|
| 961 |
+
there is some historical evidence for it.<br /><br /><br /><br /><font color="888888"><b>Thanks</b>
|
| 962 |
+
to Trevor Blackwell, Daniel Gackle, Pam Graham, Tom Howard,
|
| 963 |
+
Patrick Hsu, Steve Huffman, Jessica Livingston, Henry Lloyd-Baker,
|
| 964 |
+
Bob Metcalfe, Ben Miller, Robert Morris, Michael Nielsen, Courtenay
|
| 965 |
+
Pipkin, Joris Poort, Mieke Roos, Rajat Suri, Harj Taggar, Garry
|
| 966 |
+
Tan, and my younger son for suggestions and for reading drafts.
|
| 967 |
+
</font><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 968 |
+
<script type="text/javascript">
|
| 969 |
+
csell_env = 'ue1';
|
| 970 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 971 |
+
</script>
|
| 972 |
+
|
| 973 |
+
<script type="text/javascript">
|
| 974 |
+
function toOSTN(node){
|
| 975 |
+
if(node.hasAttributes()){
|
| 976 |
+
for (const attr of node.attributes) {
|
| 977 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 978 |
+
}
|
| 979 |
+
}
|
| 980 |
+
};
|
| 981 |
+
document.addEventListener('readystatechange', event => {
|
| 982 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 983 |
+
if (event.target.readyState === "interactive") {
|
| 984 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 985 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 986 |
+
toOSTN(fromOSYN[i]);
|
| 987 |
+
}
|
| 988 |
+
}
|
| 989 |
+
}
|
| 990 |
+
});
|
| 991 |
+
</script>
|
| 992 |
+
<script type="text/javascript">
|
| 993 |
+
// Begin Store Generated Code
|
| 994 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 995 |
+
</script>
|
| 996 |
+
<script type="text/javascript">
|
| 997 |
+
// Begin Store Generated Code
|
| 998 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 999 |
+
</script>
|
| 1000 |
+
<script type="text/javascript">
|
| 1001 |
+
// Begin Store Generated Code
|
| 1002 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'greatwork'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 1003 |
+
</script>
|
| 1004 |
+
<script type="text/javascript">
|
| 1005 |
+
// Begin Store Generated Code
|
| 1006 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 1007 |
+
</script>
|
| 1008 |
+
<script type="text/javascript">
|
| 1009 |
+
// Begin Store Generated Code
|
| 1010 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=greatwork&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 1011 |
+
</script>
|
| 1012 |
+
</html>
|
| 1013 |
+
<!-- html108.prod.store.e1a.lumsb.com Sun Aug 24 02:50:32 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/growth.html
ADDED
|
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|
| 1 |
+
<html><head><title>Startup = Growth</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebcf7><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebcf7 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/startup-growth-2.gif" width="147" height="18" border="0" hspace="0" vspace="0" alt="Startup = Growth" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
September 2012<br /><br />A startup is a company designed to grow fast. Being newly founded
|
| 14 |
+
does not in itself make a company a startup. Nor is it necessary
|
| 15 |
+
for a startup to work on technology, or take venture funding, or
|
| 16 |
+
have some sort of "exit." The only essential thing is growth.
|
| 17 |
+
Everything else we associate with startups follows from growth.<br /><br />If you want to start one it's important to understand that. Startups
|
| 18 |
+
are so hard that you can't be pointed off to the side and hope to
|
| 19 |
+
succeed. You have to know that growth is what you're after. The
|
| 20 |
+
good news is, if you get growth, everything else tends to fall into
|
| 21 |
+
place. Which means you can use growth like a compass to make almost
|
| 22 |
+
every decision you face.<br /><br />
|
| 23 |
+
<b>Redwoods</b><br /><br />Let's start with a distinction that should be obvious but is often
|
| 24 |
+
overlooked: not every newly founded company is a startup. Millions
|
| 25 |
+
of companies are started every year in the US. Only a tiny fraction
|
| 26 |
+
are startups. Most are service businesses — restaurants, barbershops,
|
| 27 |
+
plumbers, and so on. These are not startups, except in a few unusual
|
| 28 |
+
cases. A barbershop isn't designed to grow fast. Whereas a search
|
| 29 |
+
engine, for example, is.<br /><br />When I say startups are designed to grow fast, I mean it in two
|
| 30 |
+
senses. Partly I mean designed in the sense of intended, because
|
| 31 |
+
most startups fail. But I also mean startups are different by
|
| 32 |
+
nature, in the same way a redwood seedling has a different destiny
|
| 33 |
+
from a bean sprout.<br /><br />That difference is why there's a distinct word, "startup," for
|
| 34 |
+
companies designed to grow fast. If all companies were essentially
|
| 35 |
+
similar, but some through luck or the efforts of their founders
|
| 36 |
+
ended up growing very fast, we wouldn't need a separate word. We
|
| 37 |
+
could just talk about super-successful companies and less successful
|
| 38 |
+
ones. But in fact startups do have a different sort of DNA from
|
| 39 |
+
other businesses. Google is not just a barbershop whose founders
|
| 40 |
+
were unusually lucky and hard-working. Google was different from
|
| 41 |
+
the beginning.<br /><br />To grow rapidly, you need to make something you can sell to a big
|
| 42 |
+
market. That's the difference between Google and a barbershop. A
|
| 43 |
+
barbershop doesn't scale.<br /><br />For a company to grow really big, it must (a) make something lots
|
| 44 |
+
of people want, and (b) reach and serve all those people. Barbershops
|
| 45 |
+
are doing fine in the (a) department. Almost everyone needs their
|
| 46 |
+
hair cut. The problem for a barbershop, as for any retail
|
| 47 |
+
establishment, is (b). A barbershop serves customers in person,
|
| 48 |
+
and few will travel far for a haircut. And even if they did, the
|
| 49 |
+
barbershop couldn't accomodate them.
|
| 50 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />Writing software is a great way to solve (b), but you can still end
|
| 51 |
+
up constrained in (a). If you write software to teach Tibetan to
|
| 52 |
+
Hungarian speakers, you'll be able to reach most of the people who
|
| 53 |
+
want it, but there won't be many of them. If you make software
|
| 54 |
+
to teach English to Chinese speakers, however, you're in startup
|
| 55 |
+
territory.<br /><br />Most businesses are tightly constrained in (a) or (b). The distinctive
|
| 56 |
+
feature of successful startups is that they're not.<br /><br />
|
| 57 |
+
<b>Ideas</b><br /><br />It might seem that it would always be better to start a startup
|
| 58 |
+
than an ordinary business. If you're going to start a company, why
|
| 59 |
+
not start the type with the most potential? The catch is that this
|
| 60 |
+
is a (fairly) efficient market. If you write software to teach
|
| 61 |
+
Tibetan to Hungarians, you won't have much competition. If you
|
| 62 |
+
write software to teach English to Chinese speakers, you'll face
|
| 63 |
+
ferocious competition, precisely because that's such a larger prize.
|
| 64 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br />The constraints that limit ordinary companies also protect them.
|
| 65 |
+
That's the tradeoff. If you start a barbershop, you only have to
|
| 66 |
+
compete with other local barbers. If you start a search engine you
|
| 67 |
+
have to compete with the whole world.<br /><br />The most important thing that the constraints on a normal business
|
| 68 |
+
protect it from is not competition, however, but the difficulty of
|
| 69 |
+
coming up with new ideas. If you open a bar in a particular
|
| 70 |
+
neighborhood, as well as limiting your potential and protecting you
|
| 71 |
+
from competitors, that geographic constraint also helps define your
|
| 72 |
+
company. Bar + neighborhood is a sufficient idea for a small
|
| 73 |
+
business. Similarly for companies constrained in (a). Your niche
|
| 74 |
+
both protects and defines you.<br /><br />Whereas if you want to start a startup, you're probably going to
|
| 75 |
+
have to think of something fairly novel. A startup has to make
|
| 76 |
+
something it can deliver to a large market, and ideas of that type
|
| 77 |
+
are so valuable that all the obvious ones are already taken.<br /><br />That space of ideas has been so thoroughly picked over that a startup
|
| 78 |
+
generally has to work on something everyone else has overlooked.
|
| 79 |
+
I was going to write that one has to make a conscious effort to
|
| 80 |
+
find ideas everyone else has overlooked. But that's not how most
|
| 81 |
+
startups get started. Usually successful startups happen because
|
| 82 |
+
the founders are sufficiently different from other people that ideas
|
| 83 |
+
few others can see seem obvious to them. Perhaps later they step
|
| 84 |
+
back and notice they've found an idea in everyone else's blind spot,
|
| 85 |
+
and from that point make a deliberate effort to stay there.
|
| 86 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font>
|
| 87 |
+
But at the moment when successful startups get started, much of the
|
| 88 |
+
innovation is unconscious.<br /><br />What's different about successful founders is that they can see
|
| 89 |
+
different problems. It's a particularly good combination both to
|
| 90 |
+
be good at technology and to face problems that can be solved by
|
| 91 |
+
it, because technology changes so rapidly that formerly bad ideas
|
| 92 |
+
often become good without anyone noticing. Steve Wozniak's problem
|
| 93 |
+
was that he wanted his own computer. That was an unusual problem
|
| 94 |
+
to have in 1975. But technological change was about to make it a
|
| 95 |
+
much more common one. Because he not only wanted a computer but
|
| 96 |
+
knew how to build them, Wozniak was able to make himself one. And
|
| 97 |
+
the problem he solved for himself became one that Apple solved for
|
| 98 |
+
millions of people in the coming years. But by the time it was
|
| 99 |
+
obvious to ordinary people that this was a big market, Apple was
|
| 100 |
+
already established.<br /><br />Google has similar origins. Larry Page and Sergey Brin wanted to
|
| 101 |
+
search the web. But unlike most people they had the technical
|
| 102 |
+
expertise both to notice that existing search engines were not as
|
| 103 |
+
good as they could be, and to know how to improve them. Over the
|
| 104 |
+
next few years their problem became everyone's problem, as the web
|
| 105 |
+
grew to a size where you didn't have to be a picky search expert
|
| 106 |
+
to notice the old algorithms weren't good enough. But as happened
|
| 107 |
+
with Apple, by the time everyone else realized how important search
|
| 108 |
+
was, Google was entrenched.<br /><br />That's one connection between startup ideas and technology. Rapid
|
| 109 |
+
change in one area uncovers big, soluble problems in other areas.
|
| 110 |
+
Sometimes the changes are advances, and what they change is solubility.
|
| 111 |
+
That was the kind of change that yielded Apple; advances in chip
|
| 112 |
+
technology finally let Steve Wozniak design a computer he could
|
| 113 |
+
afford. But in Google's case the most important change was the
|
| 114 |
+
growth of the web. What changed there was not solubility but bigness.<br /><br />The other connection between startups and technology is that startups
|
| 115 |
+
create new ways of doing things, and new ways of doing things are,
|
| 116 |
+
in the broader sense of the word, new technology.
|
| 117 |
+
When a startup both begins with an
|
| 118 |
+
idea exposed by technological change and makes a product consisting
|
| 119 |
+
of technology in the narrower sense (what used to be called "high
|
| 120 |
+
technology"), it's easy to conflate the two. But the two connections
|
| 121 |
+
are distinct and in principle one could start a startup that was
|
| 122 |
+
neither driven by technological change, nor whose product consisted
|
| 123 |
+
of technology except in the broader sense.
|
| 124 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font><br /><br /><b>Rate</b><br /><br />How fast does a company have to grow to be considered a startup?
|
| 125 |
+
There's no precise answer to that. "Startup" is a pole, not a
|
| 126 |
+
threshold. Starting one is at first no more than a declaration of
|
| 127 |
+
one's ambitions. You're committing not just to starting a company,
|
| 128 |
+
but to starting a fast growing one, and you're thus committing to
|
| 129 |
+
search for one of the rare ideas of that type. But at first you
|
| 130 |
+
have no more than commitment. Starting a startup is like being an
|
| 131 |
+
actor in that respect. "Actor" too is a pole rather than a threshold.
|
| 132 |
+
At the beginning of his career, an actor is a waiter who goes to
|
| 133 |
+
auditions. Getting work makes him a successful actor, but he doesn't
|
| 134 |
+
only become an actor when he's successful.<br /><br />So the real question is not what growth rate makes a company a
|
| 135 |
+
startup, but what growth rate successful startups tend to have.
|
| 136 |
+
For founders that's more than a theoretical question, because it's
|
| 137 |
+
equivalent to asking if they're on the right path.<br /><br />The growth of a successful startup usually has three phases:
|
| 138 |
+
<ol>
|
| 139 |
+
<li> There's an initial period of slow or no growth while the startup
|
| 140 |
+
tries to figure out what it's doing.<br /><br /><li> As the startup figures out how to make something lots of people
|
| 141 |
+
want and how to reach those people, there's a period of rapid
|
| 142 |
+
growth.<br /><br /><li> Eventually a successful startup will grow into a big company.
|
| 143 |
+
Growth will slow, partly due to internal limits and partly because
|
| 144 |
+
the company is starting to bump up against the limits of the
|
| 145 |
+
markets it serves.
|
| 146 |
+
<font color=#999999>[<a href="#f5n"><font color=#999999>5</font></a>]</font>
|
| 147 |
+
</ol>
|
| 148 |
+
Together these three phases produce an S-curve. The phase whose
|
| 149 |
+
growth defines the startup is the second one, the ascent. Its
|
| 150 |
+
length and slope determine how big the company will be.<br /><br />The slope is the company's growth rate. If there's one number every
|
| 151 |
+
founder should always know, it's the company's growth rate. That's
|
| 152 |
+
the measure of a startup. If you don't know that number, you don't
|
| 153 |
+
even know if you're doing well or badly.<br /><br />When I first meet founders and ask what their growth rate is,
|
| 154 |
+
sometimes they tell me "we get about a hundred new customers a
|
| 155 |
+
month." That's not a rate. What matters is not the absolute number
|
| 156 |
+
of new customers, but the ratio of new customers to existing ones.
|
| 157 |
+
If you're really getting a constant number of new customers every
|
| 158 |
+
month, you're in trouble, because that means your growth rate is
|
| 159 |
+
decreasing.<br /><br />During Y Combinator we measure growth rate per week, partly because
|
| 160 |
+
there is so little time before Demo Day, and partly because startups
|
| 161 |
+
early on need frequent feedback from their users to tweak what
|
| 162 |
+
they're doing.
|
| 163 |
+
<font color=#999999>[<a href="#f6n"><font color=#999999>6</font></a>]</font><br /><br />A good growth rate during YC is 5-7% a week. If you can hit 10% a
|
| 164 |
+
week you're doing exceptionally well. If you can only manage 1%,
|
| 165 |
+
it's a sign you haven't yet figured out what you're doing.<br /><br />The best thing to measure the growth rate of is revenue. The next
|
| 166 |
+
best, for startups that aren't charging initially, is active users.
|
| 167 |
+
That's a reasonable proxy for revenue growth because whenever the
|
| 168 |
+
startup does start trying to make money, their revenues will probably
|
| 169 |
+
be a constant multiple of active users.
|
| 170 |
+
<font color=#999999>[<a href="#f7n"><font color=#999999>7</font></a>]</font><br /><br />
|
| 171 |
+
<b>Compass</b><br /><br />We usually advise startups to pick a growth rate they think they
|
| 172 |
+
can hit, and then just try to hit it every week. The key word here
|
| 173 |
+
is "just." If they decide to grow at 7% a week and they hit that
|
| 174 |
+
number, they're successful for that week. There's nothing more
|
| 175 |
+
they need to do. But if they don't hit it, they've failed in the
|
| 176 |
+
only thing that mattered, and should be correspondingly alarmed.<br /><br />Programmers will recognize what we're doing here. We're turning
|
| 177 |
+
starting a startup into an optimization problem. And anyone who
|
| 178 |
+
has tried optimizing code knows how wonderfully effective that sort
|
| 179 |
+
of narrow focus can be. Optimizing code means taking an existing
|
| 180 |
+
program and changing it to use less of something, usually time or
|
| 181 |
+
memory. You don't have to think about what the program should do,
|
| 182 |
+
just make it faster. For most programmers this is very satisfying
|
| 183 |
+
work. The narrow focus makes it a sort of puzzle, and you're
|
| 184 |
+
generally surprised how fast you can solve it.<br /><br />Focusing on hitting a growth rate reduces the otherwise bewilderingly
|
| 185 |
+
multifarious problem of starting a startup to a single problem.
|
| 186 |
+
You can use that target growth rate to make all your decisions for
|
| 187 |
+
you; anything that gets you the growth you need is ipso facto right.
|
| 188 |
+
Should you spend two days at a conference? Should you hire another
|
| 189 |
+
programmer? Should you focus more on marketing? Should you spend
|
| 190 |
+
time courting some big customer? Should you add x feature? Whatever
|
| 191 |
+
gets you your target growth rate.
|
| 192 |
+
<font color=#999999>[<a href="#f8n"><font color=#999999>8</font></a>]</font><br /><br />Judging yourself by weekly growth doesn't mean you can look no more
|
| 193 |
+
than a week ahead. Once you experience the pain of missing your
|
| 194 |
+
target one week (it was the only thing that mattered, and you failed
|
| 195 |
+
at it), you become interested in anything that could spare you such
|
| 196 |
+
pain in the future. So you'll be willing for example to hire another
|
| 197 |
+
programmer, who won't contribute to this week's growth but perhaps
|
| 198 |
+
in a month will have implemented some new feature that will get you
|
| 199 |
+
more users. But only if (a) the distraction of hiring someone
|
| 200 |
+
won't make you miss your numbers in the short term, and (b) you're
|
| 201 |
+
sufficiently worried about whether you can keep hitting your numbers
|
| 202 |
+
without hiring someone new.<br /><br />It's not that you don't think about the future, just that you think
|
| 203 |
+
about it no more than necessary.<br /><br />In theory this sort of hill-climbing could get a startup into
|
| 204 |
+
trouble. They could end up on a local maximum. But in practice
|
| 205 |
+
that never happens. Having to hit a growth number every week forces
|
| 206 |
+
founders to act, and acting versus not acting is the high bit of
|
| 207 |
+
succeeding. Nine times out of ten, sitting around strategizing is
|
| 208 |
+
just a form of procrastination. Whereas founders' intuitions about
|
| 209 |
+
which hill to climb are usually better than they realize. Plus the
|
| 210 |
+
maxima in the space of startup ideas are not spiky and isolated.
|
| 211 |
+
Most fairly good ideas are adjacent to even better ones.<br /><br />The fascinating thing about optimizing for growth is that it can
|
| 212 |
+
actually discover startup ideas. You can use the need for growth
|
| 213 |
+
as a form of evolutionary pressure. If you start out with some
|
| 214 |
+
initial plan and modify it as necessary to keep hitting, say, 10%
|
| 215 |
+
weekly growth, you may end up with a quite different company than
|
| 216 |
+
you meant to start. But anything that grows consistently at 10% a
|
| 217 |
+
week is almost certainly a better idea than you started with.<br /><br />There's a parallel here to small businesses. Just as the constraint
|
| 218 |
+
of being located in a particular neighborhood helps define a bar,
|
| 219 |
+
the constraint of growing at a certain rate can help define a
|
| 220 |
+
startup.<br /><br />You'll generally do best to follow that constraint wherever it leads
|
| 221 |
+
rather than being influenced by some initial vision, just as a
|
| 222 |
+
scientist is better off following the truth wherever it leads rather
|
| 223 |
+
than being influenced by what he wishes were the case. When Richard
|
| 224 |
+
Feynman said that the imagination of nature was greater than the
|
| 225 |
+
imagination of man, he meant that if you just keep following the
|
| 226 |
+
truth you'll discover cooler things than you could ever have made
|
| 227 |
+
up. For startups, growth is a constraint much like truth. Every
|
| 228 |
+
successful startup is at least partly a product of the imagination
|
| 229 |
+
of growth.
|
| 230 |
+
<font color=#999999>[<a href="#f9n"><font color=#999999>9</font></a>]</font><br /><br />
|
| 231 |
+
<b>Value</b><br /><br />It's hard to find something that grows consistently at several
|
| 232 |
+
percent a week, but if you do you may have found something surprisingly
|
| 233 |
+
valuable. If we project forward we see why.<br /><br /><center>
|
| 234 |
+
<table border=1 cellpadding=4 cellspacing=0>
|
| 235 |
+
<tr><td align=center><font size=2>weekly<td align=center><font size=2>yearly</tr>
|
| 236 |
+
<tr><td align=right><font size=2>1%</font><td align=right><font size=2>1.7x</tr>
|
| 237 |
+
<tr><td align=right><font size=2>2%</font><td align=right><font size=2>2.8x</tr>
|
| 238 |
+
<tr><td align=right><font size=2>5%</font><td align=right><font size=2>12.6x</tr>
|
| 239 |
+
<tr><td align=right><font size=2>7%</font><td align=right><font size=2>33.7x</tr>
|
| 240 |
+
<tr><td align=right><font size=2>10%</font><td align=right><font size=2>142.0x</tr>
|
| 241 |
+
</table>
|
| 242 |
+
</center>
|
| 243 |
+
<p>
|
| 244 |
+
A company that grows at 1% a week will grow 1.7x a year, whereas a
|
| 245 |
+
company that grows at 5% a week will grow 12.6x. A company making
|
| 246 |
+
$1000 a month (a typical number early in YC) and growing at 1% a
|
| 247 |
+
week will 4 years later be making $7900 a month, which is less than
|
| 248 |
+
a good programmer makes in salary in Silicon Valley. A startup
|
| 249 |
+
that grows at 5% a week will in 4 years be making $25 million a
|
| 250 |
+
month.
|
| 251 |
+
<font color=#999999>[<a href="#f10n"><font color=#999999>10</font></a>]</font><br /><br />Our ancestors must rarely have encountered cases of exponential
|
| 252 |
+
growth, because our intuitions are no guide here. What happens
|
| 253 |
+
to fast growing startups tends to surprise even the founders.<br /><br />Small variations in growth rate produce qualitatively different
|
| 254 |
+
outcomes. That's why there's a separate word for startups, and why
|
| 255 |
+
startups do things that ordinary companies don't, like raising money
|
| 256 |
+
and getting acquired. And, strangely enough, it's also why they
|
| 257 |
+
fail so frequently.<br /><br />Considering how valuable a successful startup can become, anyone
|
| 258 |
+
familiar with the concept of expected value would be surprised if
|
| 259 |
+
the failure rate weren't high. If a successful startup could make
|
| 260 |
+
a founder $100 million, then even if the chance of succeeding were
|
| 261 |
+
only 1%, the expected value of starting one would be $1 million.
|
| 262 |
+
And the probability of a group of sufficiently smart and determined
|
| 263 |
+
founders succeeding on that scale might be significantly over 1%.
|
| 264 |
+
For the right people — e.g. the young Bill Gates — the probability
|
| 265 |
+
might be 20% or even 50%. So it's not surprising that so many want
|
| 266 |
+
to take a shot at it. In an efficient market, the number of failed
|
| 267 |
+
startups should be proportionate to the size of the successes. And
|
| 268 |
+
since the latter is huge the former should be too.
|
| 269 |
+
<font color=#999999>[<a href="#f11n"><font color=#999999>11</font></a>]</font><br /><br />What this means is that at any given time, the great majority of
|
| 270 |
+
startups will be working on something that's never going to go
|
| 271 |
+
anywhere, and yet glorifying their doomed efforts with the grandiose
|
| 272 |
+
title of "startup."<br /><br />This doesn't bother me. It's the same with other high-beta vocations,
|
| 273 |
+
like being an actor or a novelist. I've long since gotten used to
|
| 274 |
+
it. But it seems to bother a lot of people, particularly those
|
| 275 |
+
who've started ordinary businesses. Many are annoyed that these
|
| 276 |
+
so-called startups get all the attention, when hardly any of them
|
| 277 |
+
will amount to anything.<br /><br />If they stepped back and looked at the whole picture they might be
|
| 278 |
+
less indignant. The mistake they're making is that by basing their
|
| 279 |
+
opinions on anecdotal evidence they're implicitly judging by the
|
| 280 |
+
median rather than the average. If you judge by the median startup,
|
| 281 |
+
the whole concept of a startup seems like a fraud. You have to
|
| 282 |
+
invent a bubble to explain why founders want to start them or
|
| 283 |
+
investors want to fund them. But it's a mistake to use the median
|
| 284 |
+
in a domain with so much variation. If you look at the average
|
| 285 |
+
outcome rather than the median, you can understand why investors
|
| 286 |
+
like them, and why, if they aren't median people, it's a rational
|
| 287 |
+
choice for founders to start them.<br /><br />
|
| 288 |
+
<b>Deals</b><br /><br />Why do investors like startups so much? Why are they so hot to
|
| 289 |
+
invest in photo-sharing apps, rather than solid money-making
|
| 290 |
+
businesses? Not only for the obvious reason.<br /><br />The test of any investment is the ratio of return to risk. Startups
|
| 291 |
+
pass that test because although they're appallingly risky, the
|
| 292 |
+
returns when they do succeed are so high. But that's not the only
|
| 293 |
+
reason investors like startups. An ordinary slower-growing business
|
| 294 |
+
might have just as good a ratio of return to risk, if both were
|
| 295 |
+
lower. So why are VCs interested only in high-growth companies?
|
| 296 |
+
The reason is that they get paid by getting their capital back,
|
| 297 |
+
ideally after the startup IPOs, or failing that when it's acquired.<br /><br />The other way to get returns from an investment is in the form of
|
| 298 |
+
dividends. Why isn't there a parallel VC industry that invests in
|
| 299 |
+
ordinary companies in return for a percentage of their profits?
|
| 300 |
+
Because it's too easy for people who control a private company to
|
| 301 |
+
funnel its revenues to themselves (e.g. by buying overpriced
|
| 302 |
+
components from a supplier they control) while making it look like
|
| 303 |
+
the company is making little profit. Anyone who invested in private
|
| 304 |
+
companies in return for dividends would have to pay close attention
|
| 305 |
+
to their books.<br /><br />The reason VCs like to invest in startups is not simply the returns,
|
| 306 |
+
but also because such investments are so easy to oversee. The
|
| 307 |
+
founders can't enrich themselves without also enriching the investors.
|
| 308 |
+
<font color=#999999>[<a href="#f12n"><font color=#999999>12</font></a>]</font><br /><br />Why do founders want to take the VCs' money? Growth, again. The
|
| 309 |
+
constraint between good ideas and growth operates in both directions.
|
| 310 |
+
It's not merely that you need a scalable idea to grow. If you have
|
| 311 |
+
such an idea and don't grow fast enough, competitors will. Growing
|
| 312 |
+
too slowly is particularly dangerous in a business with network
|
| 313 |
+
effects, which the best startups usually have to some degree.<br /><br />Almost every company needs some amount of funding to get started.
|
| 314 |
+
But startups often raise money even when they are or could be
|
| 315 |
+
profitable. It might seem foolish to sell stock in a profitable
|
| 316 |
+
company for less than you think it will later be worth, but it's
|
| 317 |
+
no more foolish than buying insurance. Fundamentally that's how
|
| 318 |
+
the most successful startups view fundraising. They could grow the
|
| 319 |
+
company on its own revenues, but the extra money and help supplied
|
| 320 |
+
by VCs will let them grow even faster. Raising money lets you
|
| 321 |
+
<i>choose</i> your growth rate.<br /><br />Money to grow faster is always at the command of the most successful
|
| 322 |
+
startups, because the VCs need them more than they need the VCs.
|
| 323 |
+
A profitable startup could if it wanted just grow on its own revenues.
|
| 324 |
+
Growing slower might be slightly dangerous, but chances are it
|
| 325 |
+
wouldn't kill them. Whereas VCs need to invest in startups, and
|
| 326 |
+
in particular the most successful startups, or they'll be out of
|
| 327 |
+
business. Which means that any sufficiently promising startup will
|
| 328 |
+
be offered money on terms they'd be crazy to refuse. And yet because
|
| 329 |
+
of the scale of the successes in the startup business, VCs can still
|
| 330 |
+
make money from such investments. You'd have to be crazy to believe
|
| 331 |
+
your company was going to become as valuable as a high growth rate
|
| 332 |
+
can make it, but some do.<br /><br />Pretty much every successful startup will get acquisition offers
|
| 333 |
+
too. Why? What is it about startups that makes other companies
|
| 334 |
+
want to buy them?
|
| 335 |
+
<font color=#999999>[<a href="#f13n"><font color=#999999>13</font></a>]</font><br /><br />Fundamentally the same thing that makes everyone else want the stock
|
| 336 |
+
of successful startups: a rapidly growing company is valuable. It's
|
| 337 |
+
a good thing eBay bought Paypal, for example, because Paypal is now
|
| 338 |
+
responsible for 43% of their sales and probably more of their growth.<br /><br />But acquirers have an additional reason to want startups. A rapidly
|
| 339 |
+
growing company is not merely valuable, but dangerous. If it keeps
|
| 340 |
+
expanding, it might expand into the acquirer's own territory. Most
|
| 341 |
+
product acquisitions have some component of fear. Even if an
|
| 342 |
+
acquirer isn't threatened by the startup itself, they might be
|
| 343 |
+
alarmed at the thought of what a competitor could do with it. And
|
| 344 |
+
because startups are in this sense doubly valuable to acquirers,
|
| 345 |
+
acquirers will often pay more than an ordinary investor would.
|
| 346 |
+
<font color=#999999>[<a href="#f14n"><font color=#999999>14</font></a>]</font><br /><br />
|
| 347 |
+
<b>Understand</b><br /><br />The combination of founders, investors, and acquirers forms a natural
|
| 348 |
+
ecosystem. It works so well that those who don't understand it are
|
| 349 |
+
driven to invent conspiracy theories to explain how neatly things
|
| 350 |
+
sometimes turn out. Just as our ancestors did to explain the
|
| 351 |
+
apparently too neat workings of the natural world. But there is
|
| 352 |
+
no secret cabal making it all work.<br /><br />If you start from the mistaken assumption that Instagram was
|
| 353 |
+
worthless, you have to invent a secret boss to force Mark Zuckerberg
|
| 354 |
+
to buy it. To anyone who knows Mark Zuckerberg, that is the reductio
|
| 355 |
+
ad absurdum of the initial assumption. The reason he bought Instagram
|
| 356 |
+
was that it was valuable and dangerous, and what made it so was
|
| 357 |
+
growth.<br /><br />If you want to understand startups, understand growth. Growth
|
| 358 |
+
drives everything in this world. Growth is why startups usually
|
| 359 |
+
work on technology — because ideas for fast growing companies are
|
| 360 |
+
so rare that the best way to find new ones is to discover those
|
| 361 |
+
recently made viable by change, and technology is the best source
|
| 362 |
+
of rapid change. Growth is why it's a rational choice economically
|
| 363 |
+
for so many founders to try starting a startup: growth makes the
|
| 364 |
+
successful companies so valuable that the expected value is high
|
| 365 |
+
even though the risk is too. Growth is why VCs want to invest in
|
| 366 |
+
startups: not just because the returns are high but also because
|
| 367 |
+
generating returns from capital gains is easier to manage than
|
| 368 |
+
generating returns from dividends. Growth explains why the most
|
| 369 |
+
successful startups take VC money even if they don't need to: it
|
| 370 |
+
lets them choose their growth rate. And growth explains why
|
| 371 |
+
successful startups almost invariably get acquisition offers. To
|
| 372 |
+
acquirers a fast-growing company is not merely valuable but dangerous
|
| 373 |
+
too.<br /><br />It's not just that if you want to succeed in some domain, you have
|
| 374 |
+
to understand the forces driving it. Understanding growth is what
|
| 375 |
+
starting a startup <i>consists</i> of. What you're really doing (and
|
| 376 |
+
to the dismay of some observers, all you're really doing) when you
|
| 377 |
+
start a startup is committing to solve a harder type of problem
|
| 378 |
+
than ordinary businesses do. You're committing to search for one
|
| 379 |
+
of the rare ideas that generates rapid growth. Because these ideas
|
| 380 |
+
are so valuable, finding one is hard. The startup is the embodiment
|
| 381 |
+
of your discoveries so far. Starting a startup is thus very much
|
| 382 |
+
like deciding to be a research scientist: you're not committing to
|
| 383 |
+
solve any specific problem; you don't know for sure which problems
|
| 384 |
+
are soluble; but you're committing to try to discover something no
|
| 385 |
+
one knew before. A startup founder is in effect an economic research
|
| 386 |
+
scientist. Most don't discover anything that remarkable, but some
|
| 387 |
+
discover relativity.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br />
|
| 388 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 389 |
+
Strictly speaking it's not lots of customers you need but a big
|
| 390 |
+
market, meaning a high product of number of customers times how
|
| 391 |
+
much they'll pay. But it's dangerous to have too few customers
|
| 392 |
+
even if they pay a lot, or the power that individual customers have
|
| 393 |
+
over you could turn you into a de facto consulting firm. So whatever
|
| 394 |
+
market you're in, you'll usually do best to err on the side of
|
| 395 |
+
making the broadest type of product for it.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 396 |
+
One year at Startup School David Heinemeier Hansson encouraged
|
| 397 |
+
programmers who wanted to start businesses to use a restaurant as
|
| 398 |
+
a model. What he meant, I believe, is that it's fine to start
|
| 399 |
+
software companies constrained in (a) in the same way a restaurant
|
| 400 |
+
is constrained in (b). I agree. Most people should not try to
|
| 401 |
+
start startups.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 402 |
+
That sort of stepping back is one of the things we focus on at
|
| 403 |
+
Y Combinator. It's common for founders to have discovered something
|
| 404 |
+
intuitively without understanding all its implications. That's
|
| 405 |
+
probably true of the biggest discoveries in any field.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 406 |
+
I got it wrong in <a href="wealth.html">"How to Make Wealth"</a> when I said that a
|
| 407 |
+
startup was a small company that takes on a hard technical
|
| 408 |
+
problem. That is the most common recipe but not the only one.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 409 |
+
In principle companies aren't limited by the size of the markets
|
| 410 |
+
they serve, because they could just expand into new markets. But
|
| 411 |
+
there seem to be limits on the ability of big companies to do that.
|
| 412 |
+
Which means the slowdown that comes from bumping up against the
|
| 413 |
+
limits of one's markets is ultimately just another way in which
|
| 414 |
+
internal limits are expressed.<br /><br />It may be that some of these limits could be overcome by changing
|
| 415 |
+
the shape of the organization — specifically by sharding it.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 416 |
+
This is, obviously, only for startups that have already launched
|
| 417 |
+
or can launch during YC. A startup building a new database will
|
| 418 |
+
probably not do that. On the other hand, launching something small
|
| 419 |
+
and then using growth rate as evolutionary pressure is such a
|
| 420 |
+
valuable technique that any company that could start this way
|
| 421 |
+
probably should.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 422 |
+
If the startup is taking the Facebook/Twitter route and building
|
| 423 |
+
something they hope will be very popular but from which they don't
|
| 424 |
+
yet have a definite plan to make money, the growth rate has to be
|
| 425 |
+
higher, even though it's a proxy for revenue growth, because such
|
| 426 |
+
companies need huge numbers of users to succeed at all.<br /><br />Beware too of the edge case where something spreads rapidly but the
|
| 427 |
+
churn is high as well, so that you have good net growth till you run
|
| 428 |
+
through all the potential users, at which point it suddenly stops.<br /><br />[<a name="f8n"><font color=#000000>8</font></a>]
|
| 429 |
+
Within YC when we say it's ipso facto right to do whatever gets
|
| 430 |
+
you growth, it's implicit that this excludes trickery like buying
|
| 431 |
+
users for more than their lifetime value, counting users as active
|
| 432 |
+
when they're really not, bleeding out invites at a regularly
|
| 433 |
+
increasing rate to manufacture a perfect growth curve, etc. Even
|
| 434 |
+
if you were able to fool investors with such tricks, you'd ultimately
|
| 435 |
+
be hurting yourself, because you're throwing off your own compass.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 436 |
+
Which is why it's such a dangerous mistake to believe that
|
| 437 |
+
successful startups are simply the embodiment of some brilliant
|
| 438 |
+
initial idea. What you're looking for initially is not so much a
|
| 439 |
+
great idea as an idea that could evolve into a great one. The
|
| 440 |
+
danger is that promising ideas are not merely blurry versions of
|
| 441 |
+
great ones. They're often different in kind, because the early
|
| 442 |
+
adopters you evolve the idea upon have different needs from the
|
| 443 |
+
rest of the market. For example, the idea that evolves into Facebook
|
| 444 |
+
isn't merely a subset of Facebook; the idea that evolves into
|
| 445 |
+
Facebook is a site for Harvard undergrads.<br /><br />[<a name="f10n"><font color=#000000>10</font></a>]
|
| 446 |
+
What if a company grew at 1.7x a year for a really long time?
|
| 447 |
+
Could it not grow just as big as any successful startup? In principle
|
| 448 |
+
yes, of course. If our hypothetical company making $1000 a month
|
| 449 |
+
grew at 1% a week for 19 years, it would grow as big as a company
|
| 450 |
+
growing at 5% a week for 4 years. But while such trajectories may
|
| 451 |
+
be common in, say, real estate development, you don't see them much
|
| 452 |
+
in the technology business. In technology, companies that grow
|
| 453 |
+
slowly tend not to grow as big.<br /><br />[<a name="f11n"><font color=#000000>11</font></a>]
|
| 454 |
+
Any expected value calculation varies from person to person
|
| 455 |
+
depending on their utility function for money. I.e. the first
|
| 456 |
+
million is worth more to most people than subsequent millions. How
|
| 457 |
+
much more depends on the person. For founders who are younger or
|
| 458 |
+
more ambitious the utility function is flatter. Which is probably
|
| 459 |
+
part of the reason the founders of the most successful startups of
|
| 460 |
+
all tend to be on the young side.<br /><br />[<a name="f12n"><font color=#000000>12</font></a>]
|
| 461 |
+
More precisely, this is the case in the biggest winners, which
|
| 462 |
+
is where all the returns come from. A startup founder could pull
|
| 463 |
+
the same trick of enriching himself at the company's expense by
|
| 464 |
+
selling them overpriced components. But it wouldn't be worth it
|
| 465 |
+
for the founders of Google to do that. Only founders of failing
|
| 466 |
+
startups would even be tempted, but those are writeoffs from the
|
| 467 |
+
VCs' point of view anyway.<br /><br />[<a name="f13n"><font color=#000000>13</font></a>]
|
| 468 |
+
Acquisitions fall into two categories: those where the acquirer
|
| 469 |
+
wants the business, and those where the acquirer just wants the
|
| 470 |
+
employees. The latter type is sometimes called an HR acquisition.
|
| 471 |
+
Though nominally acquisitions and sometimes on a scale that has a
|
| 472 |
+
significant effect on the expected value calculation for potential
|
| 473 |
+
founders, HR acquisitions are viewed by acquirers as more akin to
|
| 474 |
+
hiring bonuses.<br /><br />[<a name="f14n"><font color=#000000>14</font></a>]
|
| 475 |
+
I once explained this to some founders who had recently arrived
|
| 476 |
+
from Russia. They found it novel that if you threatened a company
|
| 477 |
+
they'd pay a premium for you. "In Russia they just kill you," they
|
| 478 |
+
said, and they were only partly joking. Economically, the fact
|
| 479 |
+
that established companies can't simply eliminate new competitors
|
| 480 |
+
may be one of the most valuable aspects of the rule of law. And
|
| 481 |
+
so to the extent we see incumbents suppressing competitors via
|
| 482 |
+
regulations or patent suits, we should worry, not because it's a
|
| 483 |
+
departure from the rule of law per se but from what the rule of law
|
| 484 |
+
is aiming at.<br /><br />
|
| 485 |
+
<b>Thanks</b> to Sam Altman, Marc Andreessen, Paul Buchheit, Patrick
|
| 486 |
+
Collison, Jessica Livingston, Geoff Ralston, and Harj Taggar for
|
| 487 |
+
reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://academy.hsoub.com/entrepreneurship/general/%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A9-%D8%A7%D9%84%D9%86%D8%A7%D8%B4%D8%A6%D8%A9-%D8%A7%D9%84%D9%86%D9%85%D9%88-r57/">Arabic Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://leht.postimees.ee/6821400/paul-graham-idufirma-kasv">Estonian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://danielscocco.com/startups-crescimento/">Portuguese Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://marcotrombetti.com/crescita">Italian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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// Begin Store Generated Code
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<script type="text/javascript">
|
| 521 |
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// Begin Store Generated Code
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| 522 |
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function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'growth'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
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<script type="text/javascript">
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// Begin Store Generated Code
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function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
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| 527 |
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</script>
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// Begin Store Generated Code
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|
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|
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|
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/herd.html
ADDED
|
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|
| 1 |
+
<html><head><title>Investor Herd Dynamics</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc67><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc67 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/investor-herd-dynamics-4.gif" width="195" height="18" border="0" hspace="0" vspace="0" alt="Investor Herd Dynamics" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
August 2013<br /><br />The biggest component in most investors' opinion of you is the
|
| 14 |
+
opinion of other investors. Which is of course a recipe for
|
| 15 |
+
exponential growth. When one investor wants to invest in you, that
|
| 16 |
+
makes other investors want to, which makes others want to, and so
|
| 17 |
+
on.<br /><br />Sometimes inexperienced founders mistakenly conclude that manipulating
|
| 18 |
+
these forces is the essence of fundraising. They hear stories about
|
| 19 |
+
stampedes to invest in successful startups, and think it's therefore
|
| 20 |
+
the mark of a successful startup to have this happen. But actually
|
| 21 |
+
the two are not that highly correlated. Lots of startups that cause
|
| 22 |
+
stampedes end up flaming out (in extreme cases, partly as a result
|
| 23 |
+
of the stampede), and lots of very successful startups were only
|
| 24 |
+
moderately popular with investors the first time they raised money.<br /><br />So the point of this essay is not to explain how to create a stampede,
|
| 25 |
+
but merely to explain the forces that generate them. These forces
|
| 26 |
+
are always at work to some degree in fundraising, and they can cause
|
| 27 |
+
surprising situations. If you understand them, you can at least
|
| 28 |
+
avoid being surprised.<br /><br />One reason investors like you more when other investors like you
|
| 29 |
+
is that you actually become a better investment. Raising money
|
| 30 |
+
decreases the risk of failure. Indeed, although investors hate it,
|
| 31 |
+
you are for this reason justified in raising your valuation for
|
| 32 |
+
later investors. The investors who invested when you had no money
|
| 33 |
+
were taking more risk, and are entitled to higher returns. Plus a
|
| 34 |
+
company that has raised money is literally more valuable. After
|
| 35 |
+
you raise the first million dollars, the company is at least a
|
| 36 |
+
million dollars more valuable, because it's the same company as
|
| 37 |
+
before, plus it has a million dollars in the bank.
|
| 38 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />Beware, though, because later investors so hate to have the price
|
| 39 |
+
raised on them that they resist even this self-evident reasoning.
|
| 40 |
+
Only raise the price on an investor you're comfortable with losing,
|
| 41 |
+
because some will angrily refuse.
|
| 42 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br />The second reason investors like you more when you've had some
|
| 43 |
+
success at fundraising is that it makes you more confident, and an
|
| 44 |
+
investors' opinion of <a href="convince.html">you</a> is the foundation
|
| 45 |
+
of their opinion of your company. Founders are often surprised how
|
| 46 |
+
quickly investors seem to know when they start to succeed at raising
|
| 47 |
+
money. And while there are in fact lots of ways for such information
|
| 48 |
+
to spread among investors, the main vector is probably the founders
|
| 49 |
+
themselves. Though they're often clueless about technology, most
|
| 50 |
+
investors are pretty good at reading people. When fundraising is
|
| 51 |
+
going well, investors are quick to sense it in your increased
|
| 52 |
+
confidence. (This is one case where the average founder's inability
|
| 53 |
+
to remain poker-faced works to your advantage.)<br /><br />But frankly the most important reason investors like you more when
|
| 54 |
+
you've started to raise money is that they're bad at judging startups.
|
| 55 |
+
Judging startups is hard even for the best investors. The mediocre
|
| 56 |
+
ones might as well be flipping coins. So when mediocre investors
|
| 57 |
+
see that lots of other people want to invest in you, they assume
|
| 58 |
+
there must be a reason. This leads to the phenomenon known in the
|
| 59 |
+
Valley as the "hot deal," where you have more interest from investors
|
| 60 |
+
than you can handle.<br /><br />The best investors aren't influenced much by the opinion of other
|
| 61 |
+
investors. It would only dilute their own judgment to average it
|
| 62 |
+
together with other people's. But they are indirectly influenced
|
| 63 |
+
in the practical sense that interest from other investors imposes
|
| 64 |
+
a deadline. This is the fourth way in which offers beget offers.
|
| 65 |
+
If you start to get far along the track toward an offer with one
|
| 66 |
+
firm, it will sometimes provoke other firms, even good ones, to
|
| 67 |
+
make up their minds, lest they lose the deal.<br /><br />Unless you're a wizard at negotiation (and if you're not sure,
|
| 68 |
+
you're not) be very careful about exaggerating this to push a good
|
| 69 |
+
investor to decide. Founders try this sort of thing all the time,
|
| 70 |
+
and investors are very sensitive to it. If anything oversensitive.
|
| 71 |
+
But you're safe so long as you're telling the truth. If you're
|
| 72 |
+
getting far along with investor B, but you'd rather raise money
|
| 73 |
+
from investor A, you can tell investor A that this is happening.
|
| 74 |
+
There's no manipulation in that. You're genuinely in a bind, because
|
| 75 |
+
you really would rather raise money from A, but you can't safely
|
| 76 |
+
reject an offer from B when it's still uncertain what A will decide.<br /><br />Do not, however, tell A who B is. VCs will sometimes ask which
|
| 77 |
+
other VCs you're talking to, but you should never tell them. Angels
|
| 78 |
+
you can sometimes tell about other angels, because angels cooperate
|
| 79 |
+
more with one another. But if VCs ask, just point out that they
|
| 80 |
+
wouldn't want you telling other firms about your conversations, and
|
| 81 |
+
you feel obliged to do the same for any firm you talk to. If they
|
| 82 |
+
push you, point out that you're inexperienced at fundraising — which
|
| 83 |
+
is always a safe card to play — and you feel you have to be
|
| 84 |
+
extra cautious.
|
| 85 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font><br /><br />While few startups will experience a stampede of interest, almost
|
| 86 |
+
all will at least initially experience the other side of this
|
| 87 |
+
phenomenon, where the herd remains clumped together at a distance.
|
| 88 |
+
The fact that investors are so much influenced by other investors'
|
| 89 |
+
opinions means you always start out in something of a hole. So
|
| 90 |
+
don't be demoralized by how hard it is to get the first commitment,
|
| 91 |
+
because much of the difficulty comes from this external force. The
|
| 92 |
+
second will be easier.<br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 93 |
+
An accountant might say that a company that has raised a million
|
| 94 |
+
dollars is no richer if it's convertible debt, but in practice money
|
| 95 |
+
raised as convertible debt is little different from money raised
|
| 96 |
+
in an equity round.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 97 |
+
Founders are often surprised by this, but investors can get
|
| 98 |
+
very emotional. Or rather indignant; that's the main emotion I've
|
| 99 |
+
observed; but it is very common, to the point where it sometimes
|
| 100 |
+
causes investors to act against their own interests. I know of one
|
| 101 |
+
investor who invested in a startup at a $15 million valuation cap.
|
| 102 |
+
Earlier he'd had an opportunity to invest at a $5 million cap, but
|
| 103 |
+
he refused because a friend who invested earlier had been able to
|
| 104 |
+
invest at a $3 million cap.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 105 |
+
If an investor pushes you hard to tell them about your conversations
|
| 106 |
+
with other investors, is this someone you want as an investor?<br /><br />
|
| 107 |
+
<b>Thanks</b> to Paul Buchheit, Jessica Livingston, Geoff Ralston, and Garry Tan
|
| 108 |
+
for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://blog.perevedem.ru/2013/08/26/investor-herd-dynamics/">Russian Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 109 |
+
<script type="text/javascript">
|
| 110 |
+
csell_env = 'ue1';
|
| 111 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 112 |
+
</script>
|
| 113 |
+
|
| 114 |
+
<script type="text/javascript">
|
| 115 |
+
function toOSTN(node){
|
| 116 |
+
if(node.hasAttributes()){
|
| 117 |
+
for (const attr of node.attributes) {
|
| 118 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 119 |
+
}
|
| 120 |
+
}
|
| 121 |
+
};
|
| 122 |
+
document.addEventListener('readystatechange', event => {
|
| 123 |
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if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
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| 124 |
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if (event.target.readyState === "interactive") {
|
| 125 |
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fromOSYN = document.getElementsByTagName('form');
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| 126 |
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for (let i = 0; i < fromOSYN.length; i++) {
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| 127 |
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toOSTN(fromOSYN[i]);
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| 128 |
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}
|
| 129 |
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}
|
| 130 |
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}
|
| 131 |
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});
|
| 132 |
+
</script>
|
| 133 |
+
<script type="text/javascript">
|
| 134 |
+
// Begin Store Generated Code
|
| 135 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 136 |
+
</script>
|
| 137 |
+
<script type="text/javascript">
|
| 138 |
+
// Begin Store Generated Code
|
| 139 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 140 |
+
</script>
|
| 141 |
+
<script type="text/javascript">
|
| 142 |
+
// Begin Store Generated Code
|
| 143 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'herd'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 144 |
+
</script>
|
| 145 |
+
<script type="text/javascript">
|
| 146 |
+
// Begin Store Generated Code
|
| 147 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 148 |
+
</script>
|
| 149 |
+
<script type="text/javascript">
|
| 150 |
+
// Begin Store Generated Code
|
| 151 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=herd&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 152 |
+
</script>
|
| 153 |
+
</html>
|
| 154 |
+
<!-- html105.prod.store.e1b.lumsb.com Sun Aug 24 02:50:49 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/heresy.html
ADDED
|
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|
| 1 |
+
<html><head><title>Heresy</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc8d><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc8d border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/heresy-4.gif" width="59" height="18" border="0" hspace="0" vspace="0" alt="Heresy" /><br /><br /><font size="2" face="verdana">April 2022<br /><br />One of the most surprising things I've witnessed in my lifetime is
|
| 4 |
+
the rebirth of the concept of heresy.<br /><br />In his excellent biography of Newton, Richard Westfall writes about the
|
| 5 |
+
moment when he was elected a fellow of Trinity College:
|
| 6 |
+
<blockquote>
|
| 7 |
+
Supported comfortably, Newton was free to devote himself wholly
|
| 8 |
+
to whatever he chose. To remain on, he had only to avoid the three
|
| 9 |
+
unforgivable sins: crime, heresy, and marriage.
|
| 10 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font>
|
| 11 |
+
</blockquote>
|
| 12 |
+
The first time I read that, in the 1990s, it sounded amusingly
|
| 13 |
+
medieval. How strange, to have to avoid committing heresy. But when
|
| 14 |
+
I reread it 20 years later it sounded like a description of
|
| 15 |
+
contemporary employment.<br /><br />There are an ever-increasing number of opinions you can be fired
|
| 16 |
+
for. Those doing the firing don't use the word "heresy" to describe
|
| 17 |
+
them, but structurally they're equivalent. Structurally there are
|
| 18 |
+
two distinctive things about heresy: (1) that it takes priority
|
| 19 |
+
over the question of truth or falsity, and (2) that it outweighs
|
| 20 |
+
everything else the speaker has done.<br /><br />For example, when someone calls a statement "x-ist," they're also
|
| 21 |
+
implicitly saying that this is the end of the discussion. They do
|
| 22 |
+
not, having said this, go on to consider whether the statement is
|
| 23 |
+
true or not. Using such labels is the conversational equivalent of
|
| 24 |
+
signalling an exception. That's one of the reasons they're used:
|
| 25 |
+
to end a discussion.<br /><br />If you find yourself talking to someone who uses these labels a
|
| 26 |
+
lot, it might be worthwhile to ask them explicitly if they believe
|
| 27 |
+
any babies are being thrown out with the bathwater. Can a statement
|
| 28 |
+
be x-ist, for whatever value of x, and also true? If the answer is
|
| 29 |
+
yes, then they're admitting to banning the truth. That's obvious
|
| 30 |
+
enough that I'd guess most would answer no. But if they answer no,
|
| 31 |
+
it's easy to show that they're mistaken, and that in practice such
|
| 32 |
+
labels are applied to statements regardless of their truth or
|
| 33 |
+
falsity.<br /><br />The clearest evidence of this is that whether a statement is
|
| 34 |
+
considered x-ist often depends on who said it. Truth doesn't work
|
| 35 |
+
that way. The same statement can't be true when one person says it,
|
| 36 |
+
but x-ist, and therefore false, when another person does.
|
| 37 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />The other distinctive thing about heresies, compared to ordinary
|
| 38 |
+
opinions, is that the public expression of them outweighs everything
|
| 39 |
+
else the speaker has done. In ordinary matters, like knowledge of
|
| 40 |
+
history, or taste in music, you're judged by the average of your
|
| 41 |
+
opinions. A heresy is qualitatively different. It's like dropping
|
| 42 |
+
a chunk of uranium onto the scale.<br /><br />Back in the day (and still, in some places) the punishment for
|
| 43 |
+
heresy was death. You could have led a life of exemplary goodness,
|
| 44 |
+
but if you publicly doubted, say, the divinity of Christ, you were
|
| 45 |
+
going to burn. Nowadays, in civilized countries, heretics only get
|
| 46 |
+
fired in the metaphorical sense, by losing their jobs. But the
|
| 47 |
+
structure of the situation is the same: the heresy
|
| 48 |
+
outweighs everything else. You could have spent the last ten years
|
| 49 |
+
saving children's lives, but if you express certain opinions, you're
|
| 50 |
+
automatically fired.<br /><br />It's much the same as if you committed a crime. No matter how
|
| 51 |
+
virtuously you've lived, if you commit a crime, you must still
|
| 52 |
+
suffer the penalty of the law. Having lived a previously blameless
|
| 53 |
+
life might mitigate the punishment, but it doesn't affect whether
|
| 54 |
+
you're guilty or not.<br /><br />A heresy is an opinion whose expression is treated like a crime —
|
| 55 |
+
one that makes some people feel not merely that you're mistaken,
|
| 56 |
+
but that you should be punished. Indeed, their desire to see you
|
| 57 |
+
punished is often stronger than it would be if you'd committed an
|
| 58 |
+
actual crime. There are many on the far left who believe
|
| 59 |
+
strongly in the reintegration of felons (as I do myself), and yet
|
| 60 |
+
seem to feel that anyone guilty of certain heresies should never
|
| 61 |
+
work again.<br /><br />There are always some heresies — some opinions you'd be punished
|
| 62 |
+
for expressing. But there are a lot more now than there were a few
|
| 63 |
+
decades ago, and even those who are happy about this would have to
|
| 64 |
+
agree that it's so.<br /><br />Why? Why has this antiquated-sounding religious concept come back
|
| 65 |
+
in a secular form? And why now?<br /><br />You need two ingredients for a wave of intolerance: intolerant
|
| 66 |
+
people, and an ideology to guide them. The intolerant people are
|
| 67 |
+
always there. They exist in every sufficiently large society. That's
|
| 68 |
+
why waves of intolerance can arise so suddenly; all they need is
|
| 69 |
+
something to set them off.<br /><br />I've already written an <a href="conformism.html"><u>essay</u></a>
|
| 70 |
+
describing the aggressively
|
| 71 |
+
conventional-minded. The short version is that people can be
|
| 72 |
+
classified in two dimensions according to (1) how independent- or
|
| 73 |
+
conventional-minded they are, and (2) how aggressive they are about
|
| 74 |
+
it. The aggressively conventional-minded are the enforcers of
|
| 75 |
+
orthodoxy.<br /><br />Normally they're only locally visible. They're the grumpy, censorious
|
| 76 |
+
people in a group — the ones who are always first to complain when
|
| 77 |
+
something violates the current rules of propriety. But occasionally,
|
| 78 |
+
like a vector field whose elements become aligned, a large number
|
| 79 |
+
of aggressively conventional-minded people unite behind some ideology
|
| 80 |
+
all at once. Then they become much more of a problem, because a mob
|
| 81 |
+
dynamic takes over, where the enthusiasm of each participant is
|
| 82 |
+
increased by the enthusiasm of the others.<br /><br />The most notorious 20th century case may have been the Cultural
|
| 83 |
+
Revolution. Though initiated by Mao to undermine his rivals, the
|
| 84 |
+
Cultural Revolution was otherwise mostly a grass-roots phenomenon.
|
| 85 |
+
Mao said in essence: There are heretics among us. Seek them out and
|
| 86 |
+
punish them. And that's all the aggressively conventional-minded
|
| 87 |
+
ever need to hear. They went at it with the delight of dogs chasing
|
| 88 |
+
squirrels.<br /><br />To unite the conventional-minded, an ideology must have many of the
|
| 89 |
+
features of a religion. In particular it must have strict and
|
| 90 |
+
arbitrary rules that adherents can demonstrate their
|
| 91 |
+
<a href="https://www.youtube.com/watch?v=qaHLd8de6nM"><u>purity</u></a>
|
| 92 |
+
by obeying, and its adherents must believe that anyone who obeys these
|
| 93 |
+
rules is ipso facto morally superior to anyone who doesn't.
|
| 94 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font><br /><br />In the late 1980s a new ideology of this type appeared in US
|
| 95 |
+
universities. It had a very strong component of moral purity, and
|
| 96 |
+
the aggressively conventional-minded seized upon it with their usual
|
| 97 |
+
eagerness — all the more because the relaxation of social norms
|
| 98 |
+
in the preceding decades meant there had been less and less to
|
| 99 |
+
forbid. The resulting wave of intolerance has been eerily similar
|
| 100 |
+
in form to the Cultural Revolution, though fortunately much smaller
|
| 101 |
+
in magnitude.
|
| 102 |
+
<font color=#dddddd>[<a href="#f4n"><font color=#dddddd>4</font></a>]</font><br /><br />I've deliberately avoided mentioning any specific heresies here.
|
| 103 |
+
Partly because one of the universal tactics of heretic hunters, now
|
| 104 |
+
as in the past, is to accuse those who disapprove of the way in
|
| 105 |
+
which they suppress ideas of being heretics themselves. Indeed,
|
| 106 |
+
this tactic is so consistent that you could use it as a way of
|
| 107 |
+
detecting witch hunts in any era.<br /><br />And that's the second reason I've avoided mentioning any specific
|
| 108 |
+
heresies. I want this essay to work in the future, not just now.
|
| 109 |
+
And unfortunately it probably will. The aggressively conventional-minded
|
| 110 |
+
will always be among us, looking for things to forbid. All they
|
| 111 |
+
need is an ideology to tell them what. And it's unlikely the current
|
| 112 |
+
one will be the last.<br /><br />There are aggressively conventional-minded people on both the right
|
| 113 |
+
and the left. The reason the current wave of intolerance comes from
|
| 114 |
+
the left is simply because the new unifying ideology happened to
|
| 115 |
+
come from the left. The next one might come from the right. Imagine
|
| 116 |
+
what that would be like.<br /><br />Fortunately in western countries the suppression of heresies is
|
| 117 |
+
nothing like as bad as it used to be. Though the window of opinions
|
| 118 |
+
you can express publicly has narrowed in the last decade, it's still
|
| 119 |
+
much wider than it was a few hundred years ago. The problem is the
|
| 120 |
+
derivative. Up till about 1985 the window had been growing ever
|
| 121 |
+
wider. Anyone looking into the future in 1985 would have expected
|
| 122 |
+
freedom of expression to continue to increase. Instead it has
|
| 123 |
+
decreased.
|
| 124 |
+
<font color=#dddddd>[<a href="#f5n"><font color=#dddddd>5</font></a>]</font><br /><br />The situation is similar to what's happened with infectious diseases
|
| 125 |
+
like measles. Anyone looking into the future in 2010 would have
|
| 126 |
+
expected the number of measles cases in the US to continue to
|
| 127 |
+
decrease. Instead, thanks to anti-vaxxers, it has increased. The
|
| 128 |
+
absolute number is still not that high. The problem is the derivative.
|
| 129 |
+
<font color=#dddddd>[<a href="#f6n"><font color=#dddddd>6</font></a>]</font><br /><br />In both cases it's hard to know how much to worry. Is it really
|
| 130 |
+
dangerous to society as a whole if a handful of extremists refuse
|
| 131 |
+
to get their kids vaccinated, or shout down speakers at universities?
|
| 132 |
+
The point to start worrying is presumably when their efforts start
|
| 133 |
+
to spill over into everyone else's lives. And in both cases that
|
| 134 |
+
does seem to be happening.<br /><br />So it's probably worth spending some amount of effort on pushing
|
| 135 |
+
back to keep open the window of free expression. My hope is that
|
| 136 |
+
this essay will help form social antibodies not just against current
|
| 137 |
+
efforts to suppress ideas, but against the concept of heresy in
|
| 138 |
+
general. That's the real prize. How do you disable the concept of
|
| 139 |
+
heresy? Since the Enlightenment, western societies have discovered
|
| 140 |
+
many techniques for doing that, but there are surely more to be
|
| 141 |
+
discovered.<br /><br />Overall I'm optimistic. Though the trend in freedom of expression
|
| 142 |
+
has been bad over the last decade, it's been good over the longer
|
| 143 |
+
term. And there are signs that the current wave of intolerance is
|
| 144 |
+
peaking. Independent-minded people I talk to seem more confident
|
| 145 |
+
than they did a few years ago. On the other side, even some of the
|
| 146 |
+
<a href="https://www.nytimes.com/2022/03/18/opinion/cancel-culture-free-speech-poll.html"><u>leaders</u></a> are starting to wonder if things have
|
| 147 |
+
gone too far. And popular culture among the young has already moved on.
|
| 148 |
+
All we have
|
| 149 |
+
to do is keep pushing back, and the wave collapses. And then we'll
|
| 150 |
+
be net ahead, because as well as having defeated this wave, we'll
|
| 151 |
+
also have developed new tactics for resisting the next one.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 152 |
+
Or more accurately, biographies of Newton, since Westfall wrote
|
| 153 |
+
two: a long version called <i>Never at Rest</i>, and a shorter one called
|
| 154 |
+
<i>The Life of Isaac Newton</i>. Both are great. The short version moves
|
| 155 |
+
faster, but the long one is full of interesting and often very funny
|
| 156 |
+
details. This passage is the same in both.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 157 |
+
Another more subtle but equally damning bit of evidence is
|
| 158 |
+
that claims of x-ism are never qualified. You never hear anyone say
|
| 159 |
+
that a statement is "probably x-ist" or "almost certainly y-ist."
|
| 160 |
+
If claims of x-ism were actually claims about truth, you'd expect
|
| 161 |
+
to see "probably" in front of "x-ist" as often as you see it in
|
| 162 |
+
front of "fallacious."<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 163 |
+
The rules must be strict, but they need not be demanding. So
|
| 164 |
+
the most effective type of rules are those about superficial matters,
|
| 165 |
+
like doctrinal minutiae, or the precise words adherents must use.
|
| 166 |
+
Such rules can be made extremely complicated, and yet don't repel
|
| 167 |
+
potential converts by requiring significant sacrifice.<br /><br />The superficial demands of orthodoxy make it an inexpensive substitute
|
| 168 |
+
for virtue. And that in turn is one of the reasons orthodoxy is so
|
| 169 |
+
attractive to bad people. You could be a horrible person, and yet
|
| 170 |
+
as long as you're orthodox, you're better than everyone who isn't.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 171 |
+
Arguably there were two. The first had died down somewhat by
|
| 172 |
+
2000, but was followed by a second in the 2010s, probably caused
|
| 173 |
+
by social media.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 174 |
+
Fortunately most of those trying to suppress ideas today still
|
| 175 |
+
respect Enlightenment principles enough to pay lip service to them.
|
| 176 |
+
They know they're not supposed to ban ideas per se, so they have
|
| 177 |
+
to recast the ideas as causing "harm," which sounds like something
|
| 178 |
+
that can be banned. The more extreme try to claim speech itself is
|
| 179 |
+
violence, or even that silence is. But strange as it may sound,
|
| 180 |
+
such gymnastics are a good sign. We'll know we're really in trouble
|
| 181 |
+
when they stop bothering to invent pretenses for banning ideas —
|
| 182 |
+
when, like the medieval church, they say "Damn right we're banning
|
| 183 |
+
ideas, and in fact here's a list of them."<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 184 |
+
People only have the luxury of ignoring the medical consensus
|
| 185 |
+
about vaccines because vaccines have worked so well. If we didn't
|
| 186 |
+
have any vaccines at all, the mortality rate would be so high that
|
| 187 |
+
most current anti-vaxxers would be begging for them. And the situation
|
| 188 |
+
with freedom of expression is similar. It's only because they live
|
| 189 |
+
in a world created by the Enlightenment that kids from the suburbs
|
| 190 |
+
can play at banning ideas.<br /><br /><br /><br /><font color="888888"><b>Thanks</b> to Marc Andreessen, Chris Best,
|
| 191 |
+
Trevor Blackwell, Nicholas
|
| 192 |
+
Christakis, Daniel Gackle, Jonathan Haidt, Claire Lehmann, Jessica
|
| 193 |
+
Livingston, Greg Lukianoff, Robert Morris, and Garry Tan for reading
|
| 194 |
+
drafts of this.</font><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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// Begin Store Generated Code
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|
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/hiresfund.html
ADDED
|
@@ -0,0 +1,118 @@
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|
| 1 |
+
<html><head><title>High Resolution Fundraising </title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc73><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc73 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/high-resolution-fundraising-2.gif" width="231" height="18" border="0" hspace="0" vspace="0" alt="High Resolution Fundraising " /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
September 2010<br /><br />The reason startups have been using
|
| 14 |
+
<a href="http://twitter.com/paulg/status/22319113993">more convertible notes</a> in angel
|
| 15 |
+
rounds is that they make deals close faster. By making it easier
|
| 16 |
+
for startups to give different prices to different investors, they
|
| 17 |
+
help them break the sort of deadlock that happens when investors
|
| 18 |
+
all wait to see who else is going to invest.<br /><br />By far the biggest influence on investors' opinions of a startup
|
| 19 |
+
is the opinion of other investors. There are very, very few who
|
| 20 |
+
simply decide for themselves. Any startup founder can tell you the
|
| 21 |
+
most common question they hear from investors is not about the
|
| 22 |
+
founders or the product, but "who else is investing?"<br /><br />That tends to produce deadlocks. Raising an old-fashioned
|
| 23 |
+
fixed-size equity round can take weeks, because all the angels sit around
|
| 24 |
+
waiting for the others to commit, like competitors in a bicycle
|
| 25 |
+
sprint who deliberately ride slowly at the start so they can follow
|
| 26 |
+
whoever breaks first.<br /><br />Convertible notes let startups beat such deadlocks by rewarding
|
| 27 |
+
investors willing to move first with lower (effective) valuations.
|
| 28 |
+
Which they deserve because they're taking more risk. It's much
|
| 29 |
+
safer to invest in a startup Ron Conway has already invested in;
|
| 30 |
+
someone who comes after him should pay a higher price.<br /><br />The reason convertible notes allow more flexibility in price is
|
| 31 |
+
that valuation caps aren't actual valuations, and notes are cheap
|
| 32 |
+
and easy to do. So you can do high-resolution fundraising: if you
|
| 33 |
+
wanted you could have a separate note with a different cap for each
|
| 34 |
+
investor.<br /><br />That cap need not simply rise monotonically. A startup could
|
| 35 |
+
also give better deals to investors they expected to help
|
| 36 |
+
them most. The point is simply that different investors,
|
| 37 |
+
whether because of the help they offer or their willingness to
|
| 38 |
+
commit, have different values for
|
| 39 |
+
startups, and their terms should reflect that.<br /><br />Different terms for different investors is
|
| 40 |
+
clearly the way of the future. Markets always evolve toward higher
|
| 41 |
+
resolution. You may not need to use convertible notes to do it.
|
| 42 |
+
With sufficiently lightweight standardized equity terms (and some
|
| 43 |
+
changes in investors' and lawyers' expectations about equity rounds)
|
| 44 |
+
you might be able to do the same thing with equity instead of debt.
|
| 45 |
+
Either would be fine with startups, so long as they can easily
|
| 46 |
+
change their valuation.<br /><br />Deadlocks weren't the only problem with fixed-size equity rounds.
|
| 47 |
+
Another was that startups had to decide in advance how much to
|
| 48 |
+
raise. I think it's a mistake for a startup to fix upon a specific
|
| 49 |
+
number. If investors are easily convinced, the startup should raise more
|
| 50 |
+
now, and if investors are skeptical, the startup should take a
|
| 51 |
+
smaller amount and use that to get the company to the point where
|
| 52 |
+
it's more convincing.<br /><br />It's just not reasonable to expect startups to pick an optimal round
|
| 53 |
+
size in advance, because that depends on the reactions of investors,
|
| 54 |
+
and those are impossible to predict.<br /><br />Fixed-size, multi-investor angel rounds are such a bad idea for
|
| 55 |
+
startups that one wonders why things were ever done that way. One
|
| 56 |
+
possibility is that this custom reflects the way investors like to
|
| 57 |
+
collude when they can get away with it. But I think the actual
|
| 58 |
+
explanation is less sinister. I think angels (and their lawyers)
|
| 59 |
+
organized rounds this way in unthinking imitation of VC series A
|
| 60 |
+
rounds. In a series A, a fixed-size equity round with a lead makes
|
| 61 |
+
sense, because there is usually just one big investor, who is
|
| 62 |
+
unequivocally the lead. Fixed-size series A rounds already are
|
| 63 |
+
high res. But the more investors you have in a round, the less
|
| 64 |
+
sense it makes for everyone to get the same price.<br /><br />The most interesting question here may be what high res fundraising
|
| 65 |
+
will do to the world of investors. Bolder investors will now get
|
| 66 |
+
rewarded with lower prices. But more important, in a
|
| 67 |
+
hits-driven business, is that they'll be able to get into the deals
|
| 68 |
+
they want. Whereas the "who else is investing?" type of investors
|
| 69 |
+
will not only pay higher prices, but may not be able to get into
|
| 70 |
+
the best deals at all.<br /><br /><br /><br /><br /><br /><br /><br /><b>Thanks</b> to Immad Akhund, Sam Altman, John Bautista, Pete Koomen,
|
| 71 |
+
Jessica Livingston, Dan Siroker, Harj Taggar, and
|
| 72 |
+
Fred Wilson for reading drafts of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 73 |
+
<script type="text/javascript">
|
| 74 |
+
csell_env = 'ue1';
|
| 75 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 76 |
+
</script>
|
| 77 |
+
|
| 78 |
+
<script type="text/javascript">
|
| 79 |
+
function toOSTN(node){
|
| 80 |
+
if(node.hasAttributes()){
|
| 81 |
+
for (const attr of node.attributes) {
|
| 82 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 83 |
+
}
|
| 84 |
+
}
|
| 85 |
+
};
|
| 86 |
+
document.addEventListener('readystatechange', event => {
|
| 87 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 88 |
+
if (event.target.readyState === "interactive") {
|
| 89 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 90 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 91 |
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toOSTN(fromOSYN[i]);
|
| 92 |
+
}
|
| 93 |
+
}
|
| 94 |
+
}
|
| 95 |
+
});
|
| 96 |
+
</script>
|
| 97 |
+
<script type="text/javascript">
|
| 98 |
+
// Begin Store Generated Code
|
| 99 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 100 |
+
</script>
|
| 101 |
+
<script type="text/javascript">
|
| 102 |
+
// Begin Store Generated Code
|
| 103 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 104 |
+
</script>
|
| 105 |
+
<script type="text/javascript">
|
| 106 |
+
// Begin Store Generated Code
|
| 107 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'hiresfund'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 108 |
+
</script>
|
| 109 |
+
<script type="text/javascript">
|
| 110 |
+
// Begin Store Generated Code
|
| 111 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 112 |
+
</script>
|
| 113 |
+
<script type="text/javascript">
|
| 114 |
+
// Begin Store Generated Code
|
| 115 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=hiresfund&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 116 |
+
</script>
|
| 117 |
+
</html>
|
| 118 |
+
<!-- html105.prod.store.e1b.lumsb.com Sun Aug 24 02:50:54 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/hubs.html
ADDED
|
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|
| 1 |
+
<html><head><title>Why Startup Hubs Work</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc61><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc61 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/why-startup-hubs-work-2.gif" width="196" height="18" border="0" hspace="0" vspace="0" alt="Why Startup Hubs Work" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
October 2011<br /><br />If you look at a list of US cities sorted by population, the number
|
| 14 |
+
of successful startups per capita varies by orders of magnitude.
|
| 15 |
+
Somehow it's as if most places were sprayed with startupicide.<br /><br />I wondered about this for years. I could see the average town was
|
| 16 |
+
like a roach motel for startup ambitions: smart, ambitious people
|
| 17 |
+
went in, but no startups came out. But I was never able to figure
|
| 18 |
+
out exactly what happened inside the motel—exactly what was
|
| 19 |
+
killing all the potential startups.
|
| 20 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />A couple weeks ago I finally figured it out. I was framing the
|
| 21 |
+
question wrong. The problem is not that most towns kill startups.
|
| 22 |
+
It's that death is the <a href="die.html">default</a> for startups,
|
| 23 |
+
and most towns don't save them. Instead of thinking of most places
|
| 24 |
+
as being sprayed with startupicide, it's more accurate to think of
|
| 25 |
+
startups as all being poisoned, and a few places being sprayed with
|
| 26 |
+
the antidote.<br /><br />Startups in other places are just doing what startups naturally do:
|
| 27 |
+
fail. The real question is, what's <i>saving</i> startups in places
|
| 28 |
+
like Silicon Valley?
|
| 29 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br /><b>Environment</b><br /><br />I think there are two components to the antidote: being in a place
|
| 30 |
+
where startups are the cool thing to do, and chance meetings with
|
| 31 |
+
people who can help you. And what drives them both is the number
|
| 32 |
+
of startup people around you.<br /><br />The first component is particularly helpful in the first stage of
|
| 33 |
+
a startup's life, when you go from merely having an interest in
|
| 34 |
+
starting a company to actually doing it. It's quite a leap to start
|
| 35 |
+
a startup. It's an unusual thing to do. But in Silicon Valley it
|
| 36 |
+
seems normal.
|
| 37 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font><br /><br />In most places, if you start a startup, people treat you as if
|
| 38 |
+
you're unemployed. People in the Valley aren't automatically
|
| 39 |
+
impressed with you just because you're starting a company, but they
|
| 40 |
+
pay attention. Anyone who's been here any amount of time knows not
|
| 41 |
+
to default to skepticism, no matter how inexperienced you seem or
|
| 42 |
+
how unpromising your idea sounds at first, because they've all seen
|
| 43 |
+
inexperienced founders with unpromising sounding ideas who a few
|
| 44 |
+
years later were billionaires.<br /><br />Having people around you care about what you're doing is an
|
| 45 |
+
extraordinarily <a href="cities.html">powerful</a> force. Even the
|
| 46 |
+
most willful people are susceptible to it. About a year after we
|
| 47 |
+
started Y Combinator I said something to a partner at a well known
|
| 48 |
+
VC firm that gave him the (mistaken) impression I was considering
|
| 49 |
+
starting another startup. He responded so eagerly that for about
|
| 50 |
+
half a second I found myself considering doing it.<br /><br />In most other cities, the prospect of starting a startup just doesn't
|
| 51 |
+
seem real. In the Valley it's not only real but fashionable. That
|
| 52 |
+
no doubt causes a lot of people to start startups who shouldn't.
|
| 53 |
+
But I think that's ok. Few people are suited to running a startup,
|
| 54 |
+
and it's very hard to predict beforehand which are (as I know all
|
| 55 |
+
too well from being in the business of trying to predict beforehand),
|
| 56 |
+
so lots of people starting startups who shouldn't is probably the
|
| 57 |
+
optimal state of affairs. As long as you're at a point in your
|
| 58 |
+
life when you can bear the risk of failure, the best way to find
|
| 59 |
+
out if you're suited to running a startup is to <a href="notnot.html">try
|
| 60 |
+
it</a>.<br /><br /><b>Chance</b><br /><br />The second component of the antidote is chance meetings with people
|
| 61 |
+
who can help you. This force works in both phases: both in the
|
| 62 |
+
transition from the desire to start a startup to starting one, and
|
| 63 |
+
the transition from starting a company to succeeding. The power
|
| 64 |
+
of chance meetings is more variable than people around you caring
|
| 65 |
+
about startups, which is like a sort of background radiation that
|
| 66 |
+
affects everyone equally, but at its strongest it is far stronger.<br /><br />Chance meetings produce miracles to compensate for the disasters
|
| 67 |
+
that characteristically befall startups. In the Valley, terrible
|
| 68 |
+
things happen to startups all the time, just like they do to startups
|
| 69 |
+
everywhere. The reason startups are more likely to make it here
|
| 70 |
+
is that great things happen to them too. In the Valley, lightning
|
| 71 |
+
has a sign bit.<br /><br />For example, you start a site for college students and you decide
|
| 72 |
+
to move to the Valley for the summer to work on it. And then on a
|
| 73 |
+
random suburban street in Palo Alto you happen to run into Sean
|
| 74 |
+
Parker, who understands the domain really well because he started
|
| 75 |
+
a similar startup himself, and also knows all the investors. And
|
| 76 |
+
moreover has advanced views, for 2004, on founders retaining <a
|
| 77 |
+
href="control.html">control</a> of their companies.<br /><br />You can't say precisely what the miracle will be, or even for sure
|
| 78 |
+
that one will happen. The best one can say is: if you're in a
|
| 79 |
+
startup hub, unexpected good things will probably happen to you,
|
| 80 |
+
especially if you deserve them.<br /><br />I bet this is true even for startups we fund. Even with us working
|
| 81 |
+
to make things happen for them on purpose rather than by accident,
|
| 82 |
+
the frequency of helpful chance meetings in the Valley is so high
|
| 83 |
+
that it's still a significant increment on what we can deliver.<br /><br />Chance meetings play a role like the role relaxation plays in having
|
| 84 |
+
ideas. Most people have had the experience of working hard on some
|
| 85 |
+
problem, not being able to solve it, giving up and going to bed,
|
| 86 |
+
and then thinking of the answer in the shower in the morning. What
|
| 87 |
+
makes the answer appear is letting your thoughts <a
|
| 88 |
+
href="top.html">drift</a> a bit—and thus drift off the wrong
|
| 89 |
+
path you'd been pursuing last night and onto the right one adjacent
|
| 90 |
+
to it.<br /><br />Chance meetings let your acquaintance drift in the same way taking
|
| 91 |
+
a shower lets your thoughts drift. The critical thing in both cases
|
| 92 |
+
is that they drift just the right amount. The meeting between Larry
|
| 93 |
+
Page and Sergey Brin was a good example. They let their acquaintance
|
| 94 |
+
drift, but only a little; they were both meeting someone they had
|
| 95 |
+
a lot in common with.<br /><br />For Larry Page the most important component of the antidote was
|
| 96 |
+
Sergey Brin, and vice versa. The antidote is
|
| 97 |
+
<a href="siliconvalley.html">people</a>. It's not the
|
| 98 |
+
physical infrastructure of Silicon Valley that makes it work, or
|
| 99 |
+
the weather, or anything like that. Those helped get it started,
|
| 100 |
+
but now that the reaction is self-sustaining what drives it is the
|
| 101 |
+
people.<br /><br />Many observers have noticed that one of the most distinctive things
|
| 102 |
+
about startup hubs is the degree to which people help one another
|
| 103 |
+
out, with no expectation of getting anything in return. I'm not
|
| 104 |
+
sure why this is so. Perhaps it's because startups are less of a
|
| 105 |
+
zero sum game than most types of business; they are rarely killed
|
| 106 |
+
by competitors. Or perhaps it's because so many startup founders
|
| 107 |
+
have backgrounds in the sciences, where collaboration is encouraged.<br /><br />A large part of YC's function is to accelerate that process. We're
|
| 108 |
+
a sort of Valley within the Valley, where the density of people
|
| 109 |
+
working on startups and their willingness to help one another are
|
| 110 |
+
both artificially amplified.<br /><br /><b>Numbers</b><br /><br />Both components of the antidote—an environment that encourages
|
| 111 |
+
startups, and chance meetings with people who help you—are
|
| 112 |
+
driven by the same underlying cause: the number of startup people
|
| 113 |
+
around you. To make a startup hub, you need a <i>lot</i> of people
|
| 114 |
+
interested in startups.<br /><br />There are three reasons. The first, obviously, is that if you don't
|
| 115 |
+
have enough density, the chance meetings don't happen.
|
| 116 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font>
|
| 117 |
+
The second is that different startups need such different things, so
|
| 118 |
+
you need a lot of people to supply each startup with what they need
|
| 119 |
+
most. Sean Parker was exactly what Facebook needed in 2004. Another
|
| 120 |
+
startup might have needed a database guy, or someone with connections
|
| 121 |
+
in the movie business.<br /><br />This is one of the reasons we fund such a large number of companies,
|
| 122 |
+
incidentally. The bigger the community, the greater the chance it
|
| 123 |
+
will contain the person who has that one thing you need most.<br /><br />The third reason you need a lot of people to make a startup hub is
|
| 124 |
+
that once you have enough people interested in the same problem,
|
| 125 |
+
they start to set the social norms. And it is a particularly
|
| 126 |
+
valuable thing when the atmosphere around you encourages you to do
|
| 127 |
+
something that would otherwise seem too ambitious. In most places
|
| 128 |
+
the atmosphere pulls you back toward the mean.<br /><br />I flew into the Bay Area a few days ago. I notice this every time
|
| 129 |
+
I fly over the Valley: somehow you can sense something is going on.
|
| 130 |
+
Obviously you can sense prosperity in how well kept a
|
| 131 |
+
place looks. But there are different kinds of prosperity. Silicon
|
| 132 |
+
Valley doesn't look like Boston, or New York, or LA, or DC. I tried
|
| 133 |
+
asking myself what word I'd use to describe the feeling the Valley
|
| 134 |
+
radiated, and the word that came to mind was optimism.<br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 135 |
+
I'm not saying it's impossible to succeed in a city with few
|
| 136 |
+
other startups, just harder. If you're sufficiently good at
|
| 137 |
+
generating your own morale, you can survive without external
|
| 138 |
+
encouragement. Wufoo was based in Tampa and they succeeded. But
|
| 139 |
+
the Wufoos are exceptionally disciplined.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 140 |
+
Incidentally, this phenomenon is not limited to startups. Most
|
| 141 |
+
unusual ambitions fail, unless the person who has them manages to
|
| 142 |
+
find the right sort of community.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 143 |
+
Starting a company is common, but starting a startup is rare.
|
| 144 |
+
I've talked about the distinction between the two elsewhere, but
|
| 145 |
+
essentially a startup is a new business designed for scale. Most
|
| 146 |
+
new businesses are service businesses and except in rare cases those
|
| 147 |
+
don't scale.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 148 |
+
As I was writing this, I had a demonstration of the density of
|
| 149 |
+
startup people in the Valley. Jessica and I bicycled to University
|
| 150 |
+
Ave in Palo Alto to have lunch at the fabulous Oren's Hummus. As
|
| 151 |
+
we walked in, we met Charlie Cheever sitting near the door. Selina
|
| 152 |
+
Tobaccowala stopped to say hello on her way out. Then Josh Wilson
|
| 153 |
+
came in to pick up a take out order. After lunch we went to get
|
| 154 |
+
frozen yogurt. On the way we met Rajat Suri. When we got to the
|
| 155 |
+
yogurt place, we found Dave Shen there, and as we walked out we ran
|
| 156 |
+
into Yuri Sagalov. We walked with him for a block or so and we ran
|
| 157 |
+
into Muzzammil Zaveri, and then a block later we met Aydin Senkut.
|
| 158 |
+
This is everyday life in Palo Alto. I wasn't trying to meet people;
|
| 159 |
+
I was just having lunch. And I'm sure for every startup founder
|
| 160 |
+
or investor I saw that I knew, there were 5 more I didn't. If Ron
|
| 161 |
+
Conway had been with us he would have met 30 people he knew.<br /><br /><br /><br /><b>Thanks</b> to Sam Altman, Paul Buchheit, Jessica Livingston, and
|
| 162 |
+
Harj Taggar for reading drafts of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 163 |
+
<script type="text/javascript">
|
| 164 |
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csell_env = 'ue1';
|
| 165 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 166 |
+
</script>
|
| 167 |
+
|
| 168 |
+
<script type="text/javascript">
|
| 169 |
+
function toOSTN(node){
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| 170 |
+
if(node.hasAttributes()){
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| 171 |
+
for (const attr of node.attributes) {
|
| 172 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
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| 173 |
+
}
|
| 174 |
+
}
|
| 175 |
+
};
|
| 176 |
+
document.addEventListener('readystatechange', event => {
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| 177 |
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if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
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| 178 |
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| 182 |
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| 183 |
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|
| 184 |
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| 185 |
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|
| 186 |
+
</script>
|
| 187 |
+
<script type="text/javascript">
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| 188 |
+
// Begin Store Generated Code
|
| 189 |
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</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 190 |
+
</script>
|
| 191 |
+
<script type="text/javascript">
|
| 192 |
+
// Begin Store Generated Code
|
| 193 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 194 |
+
</script>
|
| 195 |
+
<script type="text/javascript">
|
| 196 |
+
// Begin Store Generated Code
|
| 197 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'hubs'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 198 |
+
</script>
|
| 199 |
+
<script type="text/javascript">
|
| 200 |
+
// Begin Store Generated Code
|
| 201 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 202 |
+
</script>
|
| 203 |
+
<script type="text/javascript">
|
| 204 |
+
// Begin Store Generated Code
|
| 205 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=hubs&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 206 |
+
</script>
|
| 207 |
+
</html>
|
| 208 |
+
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/hw.html
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|
| 1 |
+
<html><head><title>The Hardware Renaissance</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebcef><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebcef border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/the-hardware-renaissance-2.gif" width="215" height="18" border="0" hspace="0" vspace="0" alt="The Hardware Renaissance" /><br /><br /><font size="2" face="verdana"><table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>Want to start a startup?</b> Get funded by
|
| 7 |
+
<a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p>
|
| 13 |
+
October 2012<br /><br />One advantage of Y Combinator's early, broad focus is that we
|
| 14 |
+
see trends before most other people. And one of the most conspicuous
|
| 15 |
+
trends in the last batch was the large number of hardware startups.
|
| 16 |
+
Out of 84 companies, 7 were making hardware. On the whole
|
| 17 |
+
they've done better than the companies that weren't.<br /><br />They've faced resistance from investors of course. Investors have
|
| 18 |
+
a deep-seated bias against hardware. But investors' opinions are
|
| 19 |
+
a trailing indicator. The best founders are better at seeing the
|
| 20 |
+
future than the best investors, because the best founders are making
|
| 21 |
+
it.<br /><br />There is no one single force driving this trend. Hardware <a
|
| 22 |
+
href="http://bits.blogs.nytimes.com/2012/05/11/pebble-smartwatch-tops-out-at-10-million-on-kickstarter/">does
|
| 23 |
+
well</a> on crowdfunding sites. The spread of <a
|
| 24 |
+
href="http://paulgraham.com/tablets.html">tablets</a> makes it
|
| 25 |
+
possible to build new things <a href="http://lockitron.com">controlled
|
| 26 |
+
by</a> and even <a href="http://doublerobotics.com">incorporating</a>
|
| 27 |
+
them. <a href="http://www.boostedboards.com/">Electric motors</a>
|
| 28 |
+
have improved.
|
| 29 |
+
Wireless connectivity of various types can now be taken for granted.
|
| 30 |
+
It's getting more straightforward to get things manufactured.
|
| 31 |
+
Arduinos, 3D printing, laser cutters, and more accessible CNC milling are making hardware easier to prototype.
|
| 32 |
+
Retailers are less of a bottleneck as customers increasingly buy
|
| 33 |
+
online.<br /><br />One question I can answer is why hardware is suddenly cool.
|
| 34 |
+
It always was cool.
|
| 35 |
+
Physical things are great. They just haven't
|
| 36 |
+
been as great a way to start a <a
|
| 37 |
+
href="growth.html">rapidly growing</a> business
|
| 38 |
+
as software. But that rule may not be permanent. It's not even
|
| 39 |
+
that old; it only dates from about 1990. Maybe the advantage
|
| 40 |
+
of software will turn out to have been temporary. Hackers love to
|
| 41 |
+
build hardware, and customers love to buy it. So if the ease of
|
| 42 |
+
shipping hardware even approached the ease of shipping software,
|
| 43 |
+
we'd see a lot more hardware startups.<br /><br />It wouldn't be the first time something was a bad idea till it
|
| 44 |
+
wasn't. And it wouldn't be the first time investors learned that
|
| 45 |
+
lesson from founders.<br /><br />So if you want to work on hardware, don't be deterred from doing
|
| 46 |
+
it because you worry investors will discriminate against you. And
|
| 47 |
+
in particular, don't be deterred from <a
|
| 48 |
+
href="http://ycombinator.com/apply.html">applying</a> to Y Combinator
|
| 49 |
+
with a hardware idea, because we're especially interested in hardware
|
| 50 |
+
startups.<br /><br />We know there's room for the <a href="ambitious.html">next Steve Jobs</a>.
|
| 51 |
+
But there's almost certainly also room for the first
|
| 52 |
+
<Your Name Here>.<br /><br /><br /><br /><br /><br />
|
| 53 |
+
<b>Thanks</b> to Sam Altman, Trevor Blackwell, David Cann, Sanjay Dastoor,
|
| 54 |
+
Paul Gerhardt, Cameron Robertson, Harj Taggar, and Garry Tan for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://mantellavp.com/a-hardware-renaissance-while-software-eats-the-world/">A Hardware Renaissance while �Software Eats the World�?</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 55 |
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|
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| 78 |
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<script type="text/javascript">
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// Begin Store Generated Code
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csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
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| 86 |
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</script>
|
| 87 |
+
<script type="text/javascript">
|
| 88 |
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// Begin Store Generated Code
|
| 89 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'hw'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 90 |
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</script>
|
| 91 |
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<script type="text/javascript">
|
| 92 |
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// Begin Store Generated Code
|
| 93 |
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function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 94 |
+
</script>
|
| 95 |
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<script type="text/javascript">
|
| 96 |
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// Begin Store Generated Code
|
| 97 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=hw&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 98 |
+
</script>
|
| 99 |
+
</html>
|
| 100 |
+
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/hwh.html
ADDED
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|
| 1 |
+
<html><head><title>How to Work Hard</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebcc7><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebcc7 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-work-hard-4.gif" width="152" height="18" border="0" hspace="0" vspace="0" alt="How to Work Hard" /><br /><br /><font size="2" face="verdana">June 2021<br /><br />It might not seem there's much to learn about how to work hard.
|
| 4 |
+
Anyone who's been to school knows what it entails, even if they
|
| 5 |
+
chose not to do it. There are 12 year olds who work amazingly hard. And
|
| 6 |
+
yet when I ask if I know more about working hard now than when I
|
| 7 |
+
was in school, the answer is definitely yes.<br /><br />One thing I know is that if you want to do great things, you'll
|
| 8 |
+
have to work very hard. I wasn't sure of that as a kid. Schoolwork
|
| 9 |
+
varied in difficulty; one didn't always have to work super hard to
|
| 10 |
+
do well. And some of the things famous adults did, they seemed to
|
| 11 |
+
do almost effortlessly. Was there, perhaps, some way to evade hard
|
| 12 |
+
work through sheer brilliance? Now I know the answer to that question.
|
| 13 |
+
There isn't.<br /><br />The reason some subjects seemed easy was that my school had low
|
| 14 |
+
standards. And the reason famous adults seemed to do things
|
| 15 |
+
effortlessly was years of practice; they made it look easy.<br /><br />Of course, those famous adults usually had a lot of natural ability
|
| 16 |
+
too. There are three ingredients in great work: natural ability,
|
| 17 |
+
practice, and effort. You can do pretty well with just two, but to
|
| 18 |
+
do the best work you need all three: you need great natural ability
|
| 19 |
+
<i>and</i> to have practiced a lot <i>and</i> to be trying very hard.
|
| 20 |
+
<font color=#dddddd>[<a href="#f1n"><font color=#dddddd>1</font></a>]</font><br /><br />Bill Gates, for example, was among the smartest people in business
|
| 21 |
+
in his era, but he was also among the hardest working. "I never
|
| 22 |
+
took a day off in my twenties," he said. "Not one." It was similar
|
| 23 |
+
with Lionel Messi. He had great natural ability, but when his youth
|
| 24 |
+
coaches talk about him, what they remember is not his talent but
|
| 25 |
+
his dedication and his desire to win. P. G. Wodehouse would probably
|
| 26 |
+
get my vote for best English writer of the 20th century, if I had
|
| 27 |
+
to choose. Certainly no one ever made it look easier. But no one
|
| 28 |
+
ever worked harder. At 74, he wrote
|
| 29 |
+
<blockquote>
|
| 30 |
+
with each new book of mine I have, as I say, the feeling that
|
| 31 |
+
this time I have picked a lemon in the garden of literature. A
|
| 32 |
+
good thing, really, I suppose. Keeps one up on one's toes and
|
| 33 |
+
makes one rewrite every sentence ten times. Or in many cases
|
| 34 |
+
twenty times.
|
| 35 |
+
</blockquote>
|
| 36 |
+
Sounds a bit extreme, you think. And yet Bill Gates sounds even
|
| 37 |
+
more extreme. Not one day off in ten years? These two had about
|
| 38 |
+
as much natural ability as anyone could have, and yet they also
|
| 39 |
+
worked about as hard as anyone could work. You need both.<br /><br />That seems so obvious, and yet in practice we find it slightly hard
|
| 40 |
+
to grasp. There's a faint xor between talent and hard work. It comes
|
| 41 |
+
partly from popular culture, where it seems to run very deep, and
|
| 42 |
+
partly from the fact that the outliers are so rare. If great talent
|
| 43 |
+
and great drive are both rare, then people with both are rare
|
| 44 |
+
squared. Most people you meet who have a lot of one will have less
|
| 45 |
+
of the other. But you'll need both if you want to be an outlier
|
| 46 |
+
yourself. And since you can't really change how much natural talent
|
| 47 |
+
you have, in practice doing great work, insofar as you can, reduces
|
| 48 |
+
to working very hard.<br /><br />It's straightforward to work hard if you have clearly defined,
|
| 49 |
+
externally imposed goals, as you do in school. There is some technique
|
| 50 |
+
to it: you have to learn not to lie to yourself, not to procrastinate
|
| 51 |
+
(which is a form of lying to yourself), not to get distracted, and
|
| 52 |
+
not to give up when things go wrong. But this level of discipline
|
| 53 |
+
seems to be within the reach of quite young children, if they want
|
| 54 |
+
it.<br /><br />What I've learned since I was a kid is how to work toward goals
|
| 55 |
+
that are neither clearly defined nor externally imposed. You'll
|
| 56 |
+
probably have to learn both if you want to do really great things.<br /><br />The most basic level of which is simply to feel you should be working
|
| 57 |
+
without anyone telling you to. Now, when I'm not working hard, alarm
|
| 58 |
+
bells go off. I can't be sure I'm getting anywhere when I'm working
|
| 59 |
+
hard, but I can be sure I'm getting nowhere when I'm not, and it
|
| 60 |
+
feels awful.
|
| 61 |
+
<font color=#dddddd>[<a href="#f2n"><font color=#dddddd>2</font></a>]</font><br /><br />There wasn't a single point when I learned this. Like most little
|
| 62 |
+
kids, I enjoyed the feeling of achievement when I learned or did
|
| 63 |
+
something new. As I grew older, this morphed into a feeling of
|
| 64 |
+
disgust when I wasn't achieving anything. The one precisely dateable
|
| 65 |
+
landmark I have is when I stopped watching TV, at age 13.<br /><br />Several people I've talked to remember getting serious about work
|
| 66 |
+
around this age. When I asked Patrick Collison when he started to
|
| 67 |
+
find idleness distasteful, he said
|
| 68 |
+
<blockquote>
|
| 69 |
+
I think around age 13 or 14. I have a clear memory from around
|
| 70 |
+
then of sitting in the sitting room, staring outside, and wondering
|
| 71 |
+
why I was wasting my summer holiday.
|
| 72 |
+
</blockquote>
|
| 73 |
+
Perhaps something changes at adolescence. That would make sense.<br /><br />Strangely enough, the biggest obstacle to getting serious about
|
| 74 |
+
work was probably school, which made work (what they called work)
|
| 75 |
+
seem boring and pointless. I had to learn what real work was before
|
| 76 |
+
I could wholeheartedly desire to do it. That took a while, because
|
| 77 |
+
even in college a lot of the work is pointless; there are entire
|
| 78 |
+
departments that are pointless. But as I learned the shape of real
|
| 79 |
+
work, I found that my desire to do it slotted into it as if they'd
|
| 80 |
+
been made for each other.<br /><br />I suspect most people have to learn what work is before they can
|
| 81 |
+
love it. Hardy wrote eloquently about this in <i>A Mathematician's
|
| 82 |
+
Apology</i>:
|
| 83 |
+
<blockquote>
|
| 84 |
+
I do not remember having felt, as a boy, any <i>passion</i> for
|
| 85 |
+
mathematics, and such notions as I may have had of the career of
|
| 86 |
+
a mathematician were far from noble. I thought of mathematics in
|
| 87 |
+
terms of examinations and scholarships: I wanted to beat other
|
| 88 |
+
boys, and this seemed to be the way in which I could do so most
|
| 89 |
+
decisively.
|
| 90 |
+
</blockquote>
|
| 91 |
+
He didn't learn what math was really about till part way through
|
| 92 |
+
college, when he read Jordan's <i>Cours d'analyse</i>.
|
| 93 |
+
<blockquote>
|
| 94 |
+
I shall never forget the astonishment with which I read that
|
| 95 |
+
remarkable work, the first inspiration for so many mathematicians
|
| 96 |
+
of my generation, and learnt for the first time as I read it what
|
| 97 |
+
mathematics really meant.
|
| 98 |
+
</blockquote>
|
| 99 |
+
There are two separate kinds of fakeness you need to learn to
|
| 100 |
+
discount in order to understand what real work is. One is the kind
|
| 101 |
+
Hardy encountered in school. Subjects get distorted when they're
|
| 102 |
+
adapted to be taught to kids — often so distorted that they're
|
| 103 |
+
nothing like the work done by actual practitioners.
|
| 104 |
+
<font color=#dddddd>[<a href="#f3n"><font color=#dddddd>3</font></a>]</font>
|
| 105 |
+
The other
|
| 106 |
+
kind of fakeness is intrinsic to certain types of work. Some types
|
| 107 |
+
of work are inherently bogus, or at best mere busywork.<br /><br />There's a kind of solidity to real work. It's not all writing the
|
| 108 |
+
<i>Principia</i>, but it all feels necessary. That's a vague criterion,
|
| 109 |
+
but it's deliberately vague, because it has to cover a lot of
|
| 110 |
+
different types.
|
| 111 |
+
<font color=#dddddd>[<a href="#f4n"><font color=#dddddd>4</font></a>]</font><br /><br />Once you know the shape of real work, you have to learn how many
|
| 112 |
+
hours a day to spend on it. You can't solve this problem by simply
|
| 113 |
+
working every waking hour, because in many kinds of work there's a
|
| 114 |
+
point beyond which the quality of the result will start to decline.<br /><br />That limit varies depending on the type of work and the person.
|
| 115 |
+
I've done several different kinds of work, and the limits were
|
| 116 |
+
different for each. My limit for the harder types of writing or
|
| 117 |
+
programming is about five hours a day. Whereas when I was running
|
| 118 |
+
a startup, I could
|
| 119 |
+
work all the time. At least for the three years I did it; if I'd
|
| 120 |
+
kept going much longer, I'd probably have needed to take occasional
|
| 121 |
+
vacations.
|
| 122 |
+
<font color=#dddddd>[<a href="#f5n"><font color=#dddddd>5</font></a>]</font><br /><br />The only way to find the limit is by crossing it. Cultivate a
|
| 123 |
+
sensitivity to the quality of the work you're doing, and then you'll
|
| 124 |
+
notice if it decreases because you're working too hard. Honesty is
|
| 125 |
+
critical here, in both directions: you have to notice when you're
|
| 126 |
+
being lazy, but also when you're working too hard. And if you think
|
| 127 |
+
there's something admirable about working too hard, get that idea
|
| 128 |
+
out of your head. You're not merely getting worse results, but
|
| 129 |
+
getting them because you're showing off — if not to other people,
|
| 130 |
+
then to yourself.
|
| 131 |
+
<font color=#dddddd>[<a href="#f6n"><font color=#dddddd>6</font></a>]</font><br /><br />Finding the limit of working hard is a constant, ongoing process,
|
| 132 |
+
not something you do just once. Both the difficulty of the work and
|
| 133 |
+
your ability to do it can vary hour to hour, so you need to be
|
| 134 |
+
constantly judging both how hard you're trying and how well you're
|
| 135 |
+
doing.<br /><br />Trying hard doesn't mean constantly pushing yourself to work, though.
|
| 136 |
+
There may be some people who do, but I think my experience is fairly
|
| 137 |
+
typical, and I only have to push myself occasionally when I'm
|
| 138 |
+
starting a project or when I encounter some sort of check. That's
|
| 139 |
+
when I'm in danger of procrastinating. But once I get rolling, I
|
| 140 |
+
tend to keep going.<br /><br />What keeps me going depends on the type of work. When I was working
|
| 141 |
+
on Viaweb, I was driven by fear of failure. I barely procrastinated
|
| 142 |
+
at all then, because there was always something that needed doing,
|
| 143 |
+
and if I could put more distance between me and the pursuing beast
|
| 144 |
+
by doing it, why wait? <font color=#dddddd>[<a href="#f7n"><font
|
| 145 |
+
color=#dddddd>7</font></a>]</font>
|
| 146 |
+
Whereas what drives me now, writing
|
| 147 |
+
essays, is the flaws in them. Between essays I fuss for a few days,
|
| 148 |
+
like a dog circling while it decides exactly where to lie down. But
|
| 149 |
+
once I get started on one, I don't have to push myself to work,
|
| 150 |
+
because there's always some error or omission already pushing me.<br /><br />I do make some amount of effort to focus on important topics. Many
|
| 151 |
+
problems have a hard core at the center, surrounded by easier stuff
|
| 152 |
+
at the edges. Working hard means aiming toward the center to the
|
| 153 |
+
extent you can. Some days you may not be able to; some days you'll
|
| 154 |
+
only be able to work on the easier, peripheral stuff. But you should
|
| 155 |
+
always be aiming as close to the center as you can without stalling.<br /><br />The bigger question of what to do with your life is one of these
|
| 156 |
+
problems with a hard core. There are important problems at the
|
| 157 |
+
center, which tend to be hard, and less important, easier ones at
|
| 158 |
+
the edges. So as well as the small, daily adjustments involved in
|
| 159 |
+
working on a specific problem, you'll occasionally have to make
|
| 160 |
+
big, lifetime-scale adjustments about which type of work to do.
|
| 161 |
+
And the rule is the same: working hard means aiming toward the
|
| 162 |
+
center — toward the most ambitious problems.<br /><br />By center, though, I mean the actual center, not merely the current
|
| 163 |
+
consensus about the center. The consensus about which problems are
|
| 164 |
+
most important is often mistaken, both in general and within specific
|
| 165 |
+
fields. If you disagree with it, and you're right, that could
|
| 166 |
+
represent a valuable opportunity to do something new.<br /><br />The more ambitious types of work will usually be harder, but although
|
| 167 |
+
you should not be in denial about this, neither should you treat
|
| 168 |
+
difficulty as an infallible guide in deciding what to do. If you
|
| 169 |
+
discover some ambitious type of work that's a bargain in the sense
|
| 170 |
+
of being easier for you than other people, either because of the
|
| 171 |
+
abilities you happen to have, or because of some new way you've
|
| 172 |
+
found to approach it, or simply because you're more excited about
|
| 173 |
+
it, by all means work on that. Some of the best work is done by
|
| 174 |
+
people who find an easy way to do something hard.<br /><br />As well as learning the shape of real work, you need to figure out
|
| 175 |
+
which kind you're suited for. And that doesn't just mean figuring
|
| 176 |
+
out which kind your natural abilities match the best; it doesn't
|
| 177 |
+
mean that if you're 7 feet tall, you have to play basketball. What
|
| 178 |
+
you're suited for depends not just on your talents but perhaps even
|
| 179 |
+
more on your interests. A <a href="genius.html"><u>deep interest</u></a>
|
| 180 |
+
in a topic makes people
|
| 181 |
+
work harder than any amount of discipline can.<br /><br />It can be harder to discover your interests than your talents.
|
| 182 |
+
There are fewer types of talent than interest, and they start to
|
| 183 |
+
be judged early in childhood, whereas interest in a topic is a
|
| 184 |
+
subtle thing that may not mature till your twenties, or even later.
|
| 185 |
+
The topic may not even exist earlier. Plus there are some powerful
|
| 186 |
+
sources of error you need to learn to discount. Are you really
|
| 187 |
+
interested in x, or do you want to work on it because you'll make
|
| 188 |
+
a lot of money, or because other people will be impressed with you,
|
| 189 |
+
or because your parents want you to?
|
| 190 |
+
<font color=#dddddd>[<a href="#f8n"><font color=#dddddd>8</font></a>]</font><br /><br />The difficulty of figuring out what to work on varies enormously
|
| 191 |
+
from one person to another. That's one of the most important things
|
| 192 |
+
I've learned about work since I was a kid. As a kid, you get the
|
| 193 |
+
impression that everyone has a calling, and all they have to do is
|
| 194 |
+
figure out what it is. That's how it works in movies, and in the
|
| 195 |
+
streamlined biographies fed to kids. Sometimes it works that way
|
| 196 |
+
in real life. Some people figure out what to do as children and
|
| 197 |
+
just do it, like Mozart. But others, like Newton, turn restlessly
|
| 198 |
+
from one kind of work to another. Maybe in retrospect we can identify
|
| 199 |
+
one as their calling — we can wish Newton spent more time on math
|
| 200 |
+
and physics and less on alchemy and theology — but this is an
|
| 201 |
+
<a href="disc.html"><u>illusion</u></a> induced by hindsight bias.
|
| 202 |
+
There was no voice calling to him that he could have heard.<br /><br />So while some people's lives converge fast, there will be others
|
| 203 |
+
whose lives never converge. And for these people, figuring out what
|
| 204 |
+
to work on is not so much a prelude to working hard as an ongoing
|
| 205 |
+
part of it, like one of a set of simultaneous equations. For these
|
| 206 |
+
people, the process I described earlier has a third component: along
|
| 207 |
+
with measuring both how hard you're working and how well you're
|
| 208 |
+
doing, you have to think about whether you should keep working in
|
| 209 |
+
this field or switch to another. If you're working hard but not
|
| 210 |
+
getting good enough results, you should switch. It sounds simple
|
| 211 |
+
expressed that way, but in practice it's very difficult. You shouldn't
|
| 212 |
+
give up on the first day just because you work hard and don't get
|
| 213 |
+
anywhere. You need to give yourself time to get going. But how much
|
| 214 |
+
time? And what should you do if work that was going well stops going
|
| 215 |
+
well? How much time do you give yourself then?
|
| 216 |
+
<font color=#dddddd>[<a href="#f9n"><font color=#dddddd>9</font></a>]</font><br /><br />What even counts as good results? That can be really hard to decide.
|
| 217 |
+
If you're exploring an area few others have worked in, you may not
|
| 218 |
+
even know what good results look like. History is full of examples
|
| 219 |
+
of people who misjudged the importance of what they were working
|
| 220 |
+
on.<br /><br />The best test of whether it's worthwhile to work on something is
|
| 221 |
+
whether you find it interesting. That may sound like a dangerously
|
| 222 |
+
subjective measure, but it's probably the most accurate one you're
|
| 223 |
+
going to get. You're the one working on the stuff. Who's in a better
|
| 224 |
+
position than you to judge whether it's important, and what's a
|
| 225 |
+
better predictor of its importance than whether it's interesting?<br /><br />For this test to work, though, you have to be honest with yourself.
|
| 226 |
+
Indeed, that's the most striking thing about the whole question of
|
| 227 |
+
working hard: how at each point it depends on being honest with
|
| 228 |
+
yourself.<br /><br />Working hard is not just a dial you turn up to 11. It's a complicated,
|
| 229 |
+
dynamic system that has to be tuned just right at each point. You
|
| 230 |
+
have to understand the shape of real work, see clearly what kind
|
| 231 |
+
you're best suited for, aim as close to the true core of it as you
|
| 232 |
+
can, accurately judge at each moment both what you're capable of
|
| 233 |
+
and how you're doing, and put in as many hours each day as you can
|
| 234 |
+
without harming the quality of the result. This network is too
|
| 235 |
+
complicated to trick. But if you're consistently honest and
|
| 236 |
+
clear-sighted, it will automatically assume an optimal shape, and
|
| 237 |
+
you'll be productive in a way few people are.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 238 |
+
In "The Bus Ticket Theory of Genius" I said the three ingredients
|
| 239 |
+
in great work were natural ability, determination, and interest.
|
| 240 |
+
That's the formula in the preceding stage; determination and interest
|
| 241 |
+
yield practice and effort.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 242 |
+
I mean this at a resolution of days, not hours. You'll often
|
| 243 |
+
get somewhere while not working in the sense that the solution to
|
| 244 |
+
a problem comes to you while taking a
|
| 245 |
+
<a href="top.html"><u>shower</u></a>, or even in your sleep,
|
| 246 |
+
but only because you were working hard on it the day before.<br /><br />It's good to go on vacation occasionally, but when I go on vacation,
|
| 247 |
+
I like to learn new things. I wouldn't like just sitting on a beach.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 248 |
+
The thing kids do in school that's most like the real version
|
| 249 |
+
is sports. Admittedly because many sports originated as games played
|
| 250 |
+
in schools. But in this one area, at least, kids are doing exactly
|
| 251 |
+
what adults do.<br /><br />In the average American high school, you have a choice of pretending
|
| 252 |
+
to do something serious, or seriously doing something pretend.
|
| 253 |
+
Arguably the latter is no worse.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 254 |
+
Knowing what you want to work on doesn't mean you'll be able
|
| 255 |
+
to. Most people have to spend a lot of their time working on things
|
| 256 |
+
they don't want to, especially early on. But if you know what you
|
| 257 |
+
want to do, you at least know what direction to nudge your life in.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 258 |
+
The lower time limits for intense work suggest a solution to
|
| 259 |
+
the problem of having less time to work after you have kids: switch
|
| 260 |
+
to harder problems. In effect I did that, though not deliberately.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 261 |
+
Some cultures have a tradition of performative hard work. I
|
| 262 |
+
don't love this idea, because (a) it makes a parody of something
|
| 263 |
+
important and (b) it causes people to wear themselves out doing
|
| 264 |
+
things that don't matter. I don't know enough to say for sure whether
|
| 265 |
+
it's net good or bad, but my guess is bad.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 266 |
+
One of the reasons people work so hard on startups is that
|
| 267 |
+
startups can fail, and when they do, that failure tends to be both
|
| 268 |
+
decisive and conspicuous.<br /><br />[<a name="f8n"><font color=#000000>8</font></a>]
|
| 269 |
+
It's ok to work on something to make a lot of money. You need
|
| 270 |
+
to solve the money problem somehow, and there's nothing wrong with
|
| 271 |
+
doing that efficiently by trying to make a lot at once. I suppose
|
| 272 |
+
it would even be ok to be interested in money for its own sake;
|
| 273 |
+
whatever floats your boat. Just so long as you're conscious of your
|
| 274 |
+
motivations. The thing to avoid is <i>unconsciously</i> letting the need
|
| 275 |
+
for money warp your ideas about what kind of work you find most
|
| 276 |
+
interesting.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 277 |
+
Many people face this question on a smaller scale with
|
| 278 |
+
individual projects. But it's easier both to recognize and to accept
|
| 279 |
+
a dead end in a single project than to abandon some type of work
|
| 280 |
+
entirely. The more determined you are, the harder it gets. Like a
|
| 281 |
+
Spanish Flu victim, you're fighting your own immune system: Instead
|
| 282 |
+
of giving up, you tell yourself, I should just try harder. And who
|
| 283 |
+
can say you're not right?<br /><br /><br /><br />
|
| 284 |
+
<b>Thanks</b> to Trevor Blackwell, John Carmack, John Collison, Patrick Collison,
|
| 285 |
+
Robert Morris, Geoff Ralston, and Harj Taggar for reading drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://world.hey.com/amna/post-09ff9372">Arabic Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
|
| 286 |
+
<script type="text/javascript">
|
| 287 |
+
csell_env = 'ue1';
|
| 288 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 289 |
+
</script>
|
| 290 |
+
|
| 291 |
+
<script type="text/javascript">
|
| 292 |
+
function toOSTN(node){
|
| 293 |
+
if(node.hasAttributes()){
|
| 294 |
+
for (const attr of node.attributes) {
|
| 295 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 296 |
+
}
|
| 297 |
+
}
|
| 298 |
+
};
|
| 299 |
+
document.addEventListener('readystatechange', event => {
|
| 300 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 301 |
+
if (event.target.readyState === "interactive") {
|
| 302 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 303 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 304 |
+
toOSTN(fromOSYN[i]);
|
| 305 |
+
}
|
| 306 |
+
}
|
| 307 |
+
}
|
| 308 |
+
});
|
| 309 |
+
</script>
|
| 310 |
+
<script type="text/javascript">
|
| 311 |
+
// Begin Store Generated Code
|
| 312 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 313 |
+
</script>
|
| 314 |
+
<script type="text/javascript">
|
| 315 |
+
// Begin Store Generated Code
|
| 316 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 317 |
+
</script>
|
| 318 |
+
<script type="text/javascript">
|
| 319 |
+
// Begin Store Generated Code
|
| 320 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'hwh'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 321 |
+
</script>
|
| 322 |
+
<script type="text/javascript">
|
| 323 |
+
// Begin Store Generated Code
|
| 324 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 325 |
+
</script>
|
| 326 |
+
<script type="text/javascript">
|
| 327 |
+
// Begin Store Generated Code
|
| 328 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=hwh&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 329 |
+
</script>
|
| 330 |
+
</html>
|
| 331 |
+
<!-- html105.prod.store.e1b.lumsb.com Sun Aug 24 02:50:38 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/index.html
ADDED
|
@@ -0,0 +1,94 @@
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|
| 1 |
+
<html><head><title>Paul Graham</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/bel-6.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=166cf683ec4081f><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"><area shape=rect coords="0,357,67,378" href="ind.html"><area shape=rect coords="0,378,67,399" href="info.html"></map><img src="https://s.turbifycdn.com/aah/paulgraham/img-32.gif" width="69" height="399" usemap=#166cf683ec4081f border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><font size="2" face="verdana"><img src="https://s.turbifycdn.com/aah/paulgraham/bel-8.gif" width="410" height="45" border="0" hspace="0" vspace="0" /><br /><br /><img src="https://s.turbifycdn.com/aah/paulgraham/index-21.gif" width="410" height="308" border="0" hspace="0" vspace="0" /><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><table width=410 cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ffcc33><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<b>New:</b>
|
| 7 |
+
<!-- Follow me at @paulg@mas.to -->
|
| 8 |
+
<a href="goodwriting.html">Good Writing</a> |
|
| 9 |
+
<a href="foundermode.html">Founder Mode</a>
|
| 10 |
+
</font>
|
| 11 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 12 |
+
></tr>
|
| 13 |
+
</table>
|
| 14 |
+
<table width=410 cellspacing=0>
|
| 15 |
+
<tr><td bgcolor=#ff9922><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 16 |
+
height=15 width=1><font size=2>
|
| 17 |
+
<b>Want to start a startup?</b> Get funded by <a href="http://ycombinator.com/apply.html">Y Combinator</a>.
|
| 18 |
+
</font>
|
| 19 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 20 |
+
></tr>
|
| 21 |
+
</table>
|
| 22 |
+
<!--
|
| 23 |
+
<table width=410 cellpadding=0 cellspacing=0>
|
| 24 |
+
<tr><td bgcolor=#ffcc33><img src="http://ycombinator.com/images/s.gif"
|
| 25 |
+
height=15 width=1><font size=2>
|
| 26 |
+
<b><center><a href="http://arclanguage.org/install">New Arc Out</a><b></center>
|
| 27 |
+
</font>
|
| 28 |
+
<br><img src="http://ycombinator.com/images/s.gif" height=5 width=1></td
|
| 29 |
+
></tr>
|
| 30 |
+
-->
|
| 31 |
+
<!-- "Paul Graham, like nobody else, tells us what it means to be a hacker." - Matthias Felleisen--><br /><br />
|
| 32 |
+
<!-- ffdd00 a7e4e2 ffcc33 ff9922, dcd7c8,ffcc70,ff7070, ccdd70, cad4dd, cad4ef, efea99, aaddcc, eeee88 eeee99 ccdcef
|
| 33 |
+
ffeebb, fffbcc, ffac74, d9e4ff ccccff, ffcc50, wufoo bc3c1f, acd8b4, eebb50-->
|
| 34 |
+
<link rel="alternate" type="application/rss+xml" title="RSS" href="http://www.aaronsw.com/2002/feeds/pgessays.rss"></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br>
|
| 35 |
+
<font size=1>
|
| 36 |
+
<font color=#cccccc>
|
| 37 |
+
© mmxxv pg</font> <!--
|
| 38 |
+
<font color=#777777><a href="http://snipshot.com">
|
| 39 |
+
<font color=#7777dd>photos edited with snipshot</font></a>.
|
| 40 |
+
</font></font> -->
|
| 41 |
+
<!--
|
| 42 |
+
<img src="https://sep.turbifycdn.com/ty/cdn/paulgraham/obama.jpg?t=1748944359&" height=30 width=90>
|
| 43 |
+
-->
|
| 44 |
+
<!--
|
| 45 |
+
<a href="http://www.xobni.com/?friend=3D2061" target="_blank"><img src="http://www.xobni.com/images/banners/formyinbox_ffffff.gif" alt="Xobni outlook add-in for your inbox" border=0/></a>
|
| 46 |
+
-->
|
| 47 |
+
<!--
|
| 48 |
+
<a href="http://technorati.com/claim/h9c4r84rfd" rel="me"><font color=#ffffff>Technorati Profile</font></a> --></font></td></tr></table><br /></font></td></tr></table></body>
|
| 49 |
+
<script type="text/javascript">
|
| 50 |
+
csell_env = 'ue1';
|
| 51 |
+
var storeCheckoutDomain = 'order.store.turbify.net';
|
| 52 |
+
</script>
|
| 53 |
+
|
| 54 |
+
<script type="text/javascript">
|
| 55 |
+
function toOSTN(node){
|
| 56 |
+
if(node.hasAttributes()){
|
| 57 |
+
for (const attr of node.attributes) {
|
| 58 |
+
node.setAttribute(attr.name,attr.value.replace(/(us-dc1-order|us-dc2-order|order)\.(store|stores)\.([a-z0-9-]+)\.(net|com)/g, storeCheckoutDomain));
|
| 59 |
+
}
|
| 60 |
+
}
|
| 61 |
+
};
|
| 62 |
+
document.addEventListener('readystatechange', event => {
|
| 63 |
+
if(typeof storeCheckoutDomain != 'undefined' && storeCheckoutDomain != "order.store.turbify.net"){
|
| 64 |
+
if (event.target.readyState === "interactive") {
|
| 65 |
+
fromOSYN = document.getElementsByTagName('form');
|
| 66 |
+
for (let i = 0; i < fromOSYN.length; i++) {
|
| 67 |
+
toOSTN(fromOSYN[i]);
|
| 68 |
+
}
|
| 69 |
+
}
|
| 70 |
+
}
|
| 71 |
+
});
|
| 72 |
+
</script>
|
| 73 |
+
<script type="text/javascript">
|
| 74 |
+
// Begin Store Generated Code
|
| 75 |
+
</script> <script type="text/javascript" src="https://s.turbifycdn.com/lq/ult/ylc_1.9.js" ></script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/lib/smbiz/store/csell/beacon-a9518fc6e4.js" >
|
| 76 |
+
</script>
|
| 77 |
+
<script type="text/javascript">
|
| 78 |
+
// Begin Store Generated Code
|
| 79 |
+
csell_page_data = {}; csell_page_rec_data = []; ts='TOK_STORE_ID';
|
| 80 |
+
</script>
|
| 81 |
+
<script type="text/javascript">
|
| 82 |
+
// Begin Store Generated Code
|
| 83 |
+
function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'index'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
|
| 84 |
+
</script>
|
| 85 |
+
<script type="text/javascript">
|
| 86 |
+
// Begin Store Generated Code
|
| 87 |
+
function csell_REC_VIEW_TAG() { var env = (typeof csell_env == 'string')?csell_env:'prod'; var p = csell_page_data; var a = '/sid='+p['si']+'/io='+p['io']+'/ii='+p['ii']+'/bt='+p['bt']+'-view'+'/en='+env; var r=Math.random(); YStore.CrossSellBeacon.renderBeaconWithRecData(p['url']+'/p/s='+p['s']+'/'+p['rnd']+'='+r+a); }
|
| 88 |
+
</script>
|
| 89 |
+
<script type="text/javascript">
|
| 90 |
+
// Begin Store Generated Code
|
| 91 |
+
var csell_token_map = {}; csell_token_map['TOK_PAGE'] = 'p'; csell_token_map['TOK_CURR_SYM'] = '$'; csell_token_map['TOK_WS_URL'] = 'https://paulgraham.csell.store.turbify.net/cs/recommend?itemids=index&location=p'; csell_token_map['TOK_SHOW_CS_RECS'] = 'false'; var t = csell_token_map; csell_GLOBAL_INIT_TAG(); YStore.page = t['TOK_PAGE']; YStore.currencySymbol = t['TOK_CURR_SYM']; YStore.crossSellUrl = t['TOK_WS_URL']; YStore.showCSRecs = t['TOK_SHOW_CS_RECS']; </script> <script type="text/javascript" src="https://s.turbifycdn.com/ae/store/secure/recs-1.3.2.2.js" ></script> <script type="text/javascript" >
|
| 92 |
+
</script>
|
| 93 |
+
</html>
|
| 94 |
+
<!-- html109.prod.store.e1b.lumsb.com Sun Aug 24 02:50:28 PDT 2025 -->
|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/ineq.html
ADDED
|
@@ -0,0 +1,371 @@
|
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| 1 |
+
<html><head><title>Economic Inequality</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc107><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc107 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/economic-inequality-4.gif" width="167" height="18" border="0" hspace="0" vspace="0" alt="Economic Inequality" /><br /><br /><font size="2" face="verdana"><!-- <table width=100% cellspacing=0>
|
| 4 |
+
<tr><td bgcolor=#ffeeaa><img src="http://www.virtumundo.com/images/spacer.gif"
|
| 5 |
+
height=15 width=1><font size=2>
|
| 6 |
+
<xb>There is also a</b>
|
| 7 |
+
<a href="sim.html"><u>shorter version</u></a>.
|
| 8 |
+
</font>
|
| 9 |
+
<br><img src="http://www.virtumundo.com/images/spacer.gif" height=5 width=1></td
|
| 10 |
+
></tr>
|
| 11 |
+
</table>
|
| 12 |
+
<p> -->
|
| 13 |
+
January 2016<br /><br />Since the 1970s, economic inequality in the US has increased
|
| 14 |
+
dramatically. And in particular, the rich have gotten a lot richer.
|
| 15 |
+
Nearly everyone who writes about the topic says that economic inequality
|
| 16 |
+
should be decreased.<br /><br />I'm interested in this question because I was one of the founders of
|
| 17 |
+
a company called Y Combinator that helps people start startups.
|
| 18 |
+
Almost by definition, if a startup succeeds, its founders become
|
| 19 |
+
rich. Which means by helping startup founders I've been helping to
|
| 20 |
+
increase economic inequality. If economic inequality should be
|
| 21 |
+
decreased, I shouldn't be helping founders. No one should
|
| 22 |
+
be.<br /><br />But that doesn't sound right. What's going on here? What's going
|
| 23 |
+
on is that while economic inequality is a single measure (or more
|
| 24 |
+
precisely, two: variation in income, and variation in wealth), it
|
| 25 |
+
has multiple causes. Many of these causes are bad, like tax loopholes
|
| 26 |
+
and drug addiction. But some are good, like Larry Page and
|
| 27 |
+
Sergey Brin starting the company you use to find things online.<br /><br />If you want to understand economic inequality — and more importantly,
|
| 28 |
+
if you actually want to fix the bad aspects of it — you have to
|
| 29 |
+
tease apart the components. And yet the trend in nearly everything
|
| 30 |
+
written about the subject is to do the opposite: to squash together
|
| 31 |
+
all the aspects of economic inequality as if it were a single
|
| 32 |
+
phenomenon.<br /><br />Sometimes this is done for ideological reasons. Sometimes it's
|
| 33 |
+
because the writer only has very high-level data and so draws
|
| 34 |
+
conclusions from that, like the proverbial drunk who looks for his
|
| 35 |
+
keys under the lamppost, instead of where he dropped them, because the
|
| 36 |
+
light is better there. Sometimes it's because the writer doesn't
|
| 37 |
+
understand critical aspects of inequality, like the role of technology
|
| 38 |
+
in wealth creation. Much of the time, perhaps most of the time,
|
| 39 |
+
writing about economic inequality combines all three.<br /><br /><center>___</center><br /><br />The most common mistake people make about economic inequality is
|
| 40 |
+
to treat it as a single phenomenon. The most naive version of which
|
| 41 |
+
is the one based on the pie fallacy: that the rich get rich by
|
| 42 |
+
taking money from the poor.<br /><br />Usually this is an assumption people start from rather than a
|
| 43 |
+
conclusion they arrive at by examining the evidence. Sometimes the
|
| 44 |
+
pie fallacy is stated explicitly:
|
| 45 |
+
<blockquote>
|
| 46 |
+
...those at the top are grabbing an increasing fraction of the
|
| 47 |
+
nation's income — so much of a larger share that what's left over
|
| 48 |
+
for the rest is diminished....
|
| 49 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font>
|
| 50 |
+
</blockquote>
|
| 51 |
+
Other times it's more unconscious. But the unconscious form is very
|
| 52 |
+
widespread. I think because we grow up in a world where the pie
|
| 53 |
+
fallacy is actually true. To kids, wealth <i>is</i> a fixed pie
|
| 54 |
+
that's shared out, and if one person gets more, it's at the expense
|
| 55 |
+
of another. It takes a conscious effort to remind oneself that the
|
| 56 |
+
real world doesn't work that way.<br /><br />In the real world you can create wealth as well as taking it from
|
| 57 |
+
others. A woodworker creates wealth. He makes a chair, and you
|
| 58 |
+
willingly give him money in return for it. A high-frequency trader
|
| 59 |
+
does not. He makes a dollar only when someone on the other end of
|
| 60 |
+
a trade loses a dollar.<br /><br />If the rich people in a society got that way by taking wealth from
|
| 61 |
+
the poor, then you have the degenerate case of economic inequality,
|
| 62 |
+
where the cause of poverty is the same as the cause of wealth. But
|
| 63 |
+
instances of inequality don't have to be instances of the degenerate
|
| 64 |
+
case. If one woodworker makes 5 chairs and another makes none, the
|
| 65 |
+
second woodworker will have less money, but not because anyone took
|
| 66 |
+
anything from him.<br /><br />Even people sophisticated enough to know about the pie fallacy are
|
| 67 |
+
led toward it by the custom of describing economic inequality as a
|
| 68 |
+
ratio of one quantile's income or wealth to another's. It's so
|
| 69 |
+
easy to slip from talking about income shifting from one quantile
|
| 70 |
+
to another, as a figure of speech, into believing that is literally
|
| 71 |
+
what's happening.<br /><br />Except in the degenerate case, economic inequality can't be described
|
| 72 |
+
by a ratio or even a curve. In the general case it consists of
|
| 73 |
+
multiple ways people become poor, and multiple ways people become
|
| 74 |
+
rich. Which means to understand economic inequality in a country,
|
| 75 |
+
you have to go find individual people who are poor or rich and
|
| 76 |
+
figure out why.
|
| 77 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br />If you want to understand <i>change</i> in economic inequality, you
|
| 78 |
+
should ask what those people would have done when it was different.
|
| 79 |
+
This is one way I know the rich aren't all getting richer simply
|
| 80 |
+
from some new system for transferring wealth to them from
|
| 81 |
+
everyone else. When you use the would-have method with startup
|
| 82 |
+
founders, you find what most would have done
|
| 83 |
+
<a href="re.html"><u>back in 1960</u></a>, when
|
| 84 |
+
economic inequality was lower, was to join big companies or become
|
| 85 |
+
professors. Before Mark Zuckerberg started Facebook, his default
|
| 86 |
+
expectation was that he'd end up working at Microsoft. The reason
|
| 87 |
+
he and most other startup founders are richer than they would have
|
| 88 |
+
been in the mid 20th century is not because of some right turn the
|
| 89 |
+
country took during the Reagan administration, but because progress
|
| 90 |
+
in technology has made it much easier to start a new company that
|
| 91 |
+
<a href="growth.html"><u>grows fast</u></a>.<br /><br />Traditional economists seem strangely averse to studying individual
|
| 92 |
+
humans. It seems to be a rule with them that everything has to start
|
| 93 |
+
with statistics. So they give you very precise numbers about
|
| 94 |
+
variation in wealth and income, then follow it with the most naive
|
| 95 |
+
speculation about the underlying causes.<br /><br />But while there are a lot of people who get rich through rent-seeking
|
| 96 |
+
of various forms, and a lot who get rich by playing zero-sum games,
|
| 97 |
+
there are also a significant number
|
| 98 |
+
who get rich by creating wealth. And creating wealth, as a source
|
| 99 |
+
of economic inequality, is different from taking it — not just
|
| 100 |
+
morally, but also practically, in the sense that it is harder to
|
| 101 |
+
eradicate. One reason is that variation in productivity is
|
| 102 |
+
accelerating. The rate at which individuals can create wealth
|
| 103 |
+
depends on the technology available to them, and that grows
|
| 104 |
+
exponentially. The other reason creating wealth is such a tenacious
|
| 105 |
+
source of inequality is that it can expand to accommodate a lot of
|
| 106 |
+
people.<br /><br /><center>___</center><br /><br />I'm all for shutting down the crooked ways to get rich. But that
|
| 107 |
+
won't eliminate great variations in wealth, because as long as you leave
|
| 108 |
+
open the option of getting rich by creating wealth, people who want
|
| 109 |
+
to get rich will do that instead.<br /><br />Most people who get rich tend to be fairly driven. Whatever their
|
| 110 |
+
other flaws, laziness is usually not one of them. Suppose new
|
| 111 |
+
policies make it hard to make a fortune in finance. Does it seem
|
| 112 |
+
plausible that the people who currently go into finance to make
|
| 113 |
+
their fortunes will continue to do so, but be content to work for
|
| 114 |
+
ordinary salaries? The reason they go into finance is not because
|
| 115 |
+
they love finance but because they want to get rich. If the only
|
| 116 |
+
way left to get rich is to start startups, they'll start startups.
|
| 117 |
+
They'll do well at it too, because determination is the main factor
|
| 118 |
+
in the success of a startup.
|
| 119 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font>
|
| 120 |
+
And while it would probably be
|
| 121 |
+
a good thing for the world if people who wanted to get rich switched
|
| 122 |
+
from playing zero-sum games to creating wealth, that would not only
|
| 123 |
+
not eliminate great variations in wealth, but might even
|
| 124 |
+
exacerbate them.
|
| 125 |
+
In a zero-sum game there is at least a limit to the upside. Plus
|
| 126 |
+
a lot of the new startups would create new technology that further
|
| 127 |
+
accelerated variation in productivity.<br /><br />Variation in productivity is far from the only source of economic
|
| 128 |
+
inequality, but it is the irreducible core of it, in the sense that
|
| 129 |
+
you'll have that left when you eliminate all other sources. And if
|
| 130 |
+
you do, that core will be big, because it will have expanded to
|
| 131 |
+
include the efforts of all the refugees. Plus it will have a large
|
| 132 |
+
Baumol penumbra around it: anyone who could get rich by creating
|
| 133 |
+
wealth on their own account will have to be paid enough to prevent
|
| 134 |
+
them from doing it.<br /><br />You can't prevent great variations in wealth without preventing people
|
| 135 |
+
from getting rich, and you can't do that without preventing them
|
| 136 |
+
from starting startups.<br /><br />So let's be clear about that. Eliminating great variations in wealth would
|
| 137 |
+
mean eliminating startups. And that doesn't seem a wise move.
|
| 138 |
+
Especially since it would only mean you eliminated
|
| 139 |
+
startups in your own country. Ambitious people already move halfway
|
| 140 |
+
around the world to further their careers, and startups can operate
|
| 141 |
+
from anywhere nowadays. So if you made it impossible to get rich
|
| 142 |
+
by creating wealth in your country, people who wanted to do that
|
| 143 |
+
would just leave and do it somewhere else. Which would
|
| 144 |
+
certainly get you a lower Gini coefficient, along with a lesson in
|
| 145 |
+
being careful what you ask for.
|
| 146 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font><br /><br />I think rising economic inequality is the inevitable fate of countries
|
| 147 |
+
that don't choose something worse. We had a 40 year stretch in the
|
| 148 |
+
middle of the 20th century that convinced some people otherwise.
|
| 149 |
+
But as I explained in <a href="re.html"><u>The Refragmentation</u></a>,
|
| 150 |
+
that was an anomaly — a
|
| 151 |
+
unique combination of circumstances that compressed American society
|
| 152 |
+
not just economically but culturally too.
|
| 153 |
+
<font color=#999999>[<a href="#f5n"><font color=#999999>5</font></a>]</font><br /><br />And while some of the growth in economic inequality we've seen since
|
| 154 |
+
then has been due to bad behavior of various kinds, there has
|
| 155 |
+
simultaneously been a huge increase in individuals' ability to
|
| 156 |
+
create wealth. Startups are almost entirely a product of this
|
| 157 |
+
period. And even within the startup world, there has been a qualitative
|
| 158 |
+
change in the last 10 years. Technology has decreased the cost of
|
| 159 |
+
starting a startup so much that founders now have the upper hand
|
| 160 |
+
over investors. Founders get less diluted, and it is now common
|
| 161 |
+
for them to retain
|
| 162 |
+
<a href="control.html"><u>board control</u></a> as well. Both further increase
|
| 163 |
+
economic inequality, the former because founders own more stock,
|
| 164 |
+
and the latter because, as investors have learned, founders tend
|
| 165 |
+
to be better at running their companies than investors.<br /><br />While the surface manifestations change, the underlying forces are
|
| 166 |
+
very, very old. The acceleration of productivity we see in Silicon
|
| 167 |
+
Valley has been happening for thousands of years. If you look at
|
| 168 |
+
the history of stone tools, technology was already accelerating in
|
| 169 |
+
the Mesolithic. The acceleration would have been too slow to
|
| 170 |
+
perceive in one lifetime. Such is the nature of the leftmost part
|
| 171 |
+
of an exponential curve. But it was the same curve.<br /><br />You do not want to design your society in a way that's incompatible
|
| 172 |
+
with this curve. The evolution of technology is one of the most
|
| 173 |
+
powerful forces in history.<br /><br />Louis Brandeis said "We may have democracy, or we may have wealth
|
| 174 |
+
concentrated in the hands of a few, but we can't have both." That
|
| 175 |
+
sounds plausible. But if I have to choose between ignoring him and
|
| 176 |
+
ignoring an exponential curve that has been operating for thousands
|
| 177 |
+
of years, I'll bet on the curve. Ignoring any trend that has been
|
| 178 |
+
operating for thousands of years is dangerous. But exponential
|
| 179 |
+
growth, especially, tends to bite you.<br /><br /><center>___</center><br /><br />If accelerating variation in productivity is always going to produce
|
| 180 |
+
some baseline growth in economic inequality, it would be a good
|
| 181 |
+
idea to spend some time thinking about that future. Can you have
|
| 182 |
+
a healthy society with great variation in wealth? What would it
|
| 183 |
+
look like?<br /><br />Notice how novel it feels to think about that. The public conversation
|
| 184 |
+
so far has been exclusively about the need to decrease economic
|
| 185 |
+
inequality. We've barely given a thought to how to live with it.<br /><br />I'm hopeful we'll be able to. Brandeis was a product of the Gilded
|
| 186 |
+
Age, and things have changed since then. It's harder to hide
|
| 187 |
+
wrongdoing now. And to get rich now you don't have to buy politicians
|
| 188 |
+
the way railroad or oil magnates did.
|
| 189 |
+
<font color=#999999>[<a href="#f6n"><font color=#999999>6</font></a>]</font>
|
| 190 |
+
The great concentrations
|
| 191 |
+
of wealth I see around me in Silicon Valley don't seem to be
|
| 192 |
+
destroying democracy.<br /><br />There are lots of things wrong with the US that have economic
|
| 193 |
+
inequality as a symptom. We should fix those things. In the process
|
| 194 |
+
we may decrease economic inequality. But we can't start from the
|
| 195 |
+
symptom and hope to fix the underlying causes.
|
| 196 |
+
<font color=#999999>[<a href="#f7n"><font color=#999999>7</font></a>]</font><br /><br />The most obvious is poverty. I'm sure most of those who want to
|
| 197 |
+
decrease economic inequality want to do it mainly to help the poor,
|
| 198 |
+
not to hurt the rich.
|
| 199 |
+
<font color=#999999>[<a href="#f8n"><font color=#999999>8</font></a>]</font>
|
| 200 |
+
Indeed, a good number are merely being
|
| 201 |
+
sloppy by speaking of decreasing economic inequality when what they
|
| 202 |
+
mean is decreasing poverty. But this is a situation where it would
|
| 203 |
+
be good to be precise about what we want. Poverty and economic
|
| 204 |
+
inequality are not identical. When the city is turning off your
|
| 205 |
+
<a href="http://www.theatlantic.com/business/archive/2014/07/what-happens-when-detroit-shuts-off-the-water-of-100000-people/374548/"><u>water</u></a>
|
| 206 |
+
because you can't pay the bill, it doesn't make any difference
|
| 207 |
+
what Larry Page's net worth is compared to yours. He might only
|
| 208 |
+
be a few times richer than you, and it would still be just as much
|
| 209 |
+
of a problem that your water was getting turned off.<br /><br />Closely related to poverty is lack of social mobility. I've seen
|
| 210 |
+
this myself: you don't have to grow up rich or even upper middle
|
| 211 |
+
class to get rich as a startup founder, but few successful founders
|
| 212 |
+
grew up desperately poor. But again, the problem here is not simply
|
| 213 |
+
economic inequality. There is an enormous difference in wealth
|
| 214 |
+
between the household Larry Page grew up in and that of a successful
|
| 215 |
+
startup founder, but that didn't prevent him from joining their
|
| 216 |
+
ranks. It's not economic inequality per se that's blocking social
|
| 217 |
+
mobility, but some specific combination of things that go wrong
|
| 218 |
+
when kids grow up sufficiently poor.<br /><br />One of the most important principles in Silicon Valley is that "you
|
| 219 |
+
make what you measure." It means that if you pick some number to
|
| 220 |
+
focus on, it will tend to improve, but that you have to choose the
|
| 221 |
+
right number, because only the one you choose will improve; another
|
| 222 |
+
that seems conceptually adjacent might not. For example, if you're
|
| 223 |
+
a university president and you decide to focus on graduation rates,
|
| 224 |
+
then you'll improve graduation rates. But only graduation rates,
|
| 225 |
+
not how much students learn. Students could learn less, if to
|
| 226 |
+
improve graduation rates you made classes easier.<br /><br />Economic inequality is sufficiently far from identical with the
|
| 227 |
+
various problems that have it as a symptom that we'll probably only
|
| 228 |
+
hit whichever of the two we aim at. If we aim at economic inequality,
|
| 229 |
+
we won't fix these problems. So I say let's aim at the problems.<br /><br />For example, let's attack poverty, and if necessary damage wealth
|
| 230 |
+
in the process. That's much more likely to work than attacking
|
| 231 |
+
wealth in the hope that you will thereby fix poverty.
|
| 232 |
+
<font color=#999999>[<a href="#f9n"><font color=#999999>9</font></a>]</font>
|
| 233 |
+
And if
|
| 234 |
+
there are people getting rich by tricking consumers or lobbying the
|
| 235 |
+
government for anti-competitive regulations or tax loopholes, then
|
| 236 |
+
let's stop them. Not because it's causing economic inequality, but
|
| 237 |
+
because it's stealing.
|
| 238 |
+
<font color=#999999>[<a href="#f10n"><font color=#999999>10</font></a>]</font><br /><br />If all you have is statistics, it seems like that's what you need
|
| 239 |
+
to fix. But behind a broad statistical measure like economic
|
| 240 |
+
inequality there are some things that are good and some that are
|
| 241 |
+
bad, some that are historical trends with immense momentum and
|
| 242 |
+
others that are random accidents. If we want to fix the world
|
| 243 |
+
behind the statistics, we have to understand it, and focus our
|
| 244 |
+
efforts where they'll do the most good.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 245 |
+
Stiglitz, Joseph. <i>The Price of Inequality</i>. Norton, 2012. p.
|
| 246 |
+
32.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 247 |
+
Particularly since economic inequality is a matter of outliers,
|
| 248 |
+
and outliers are disproportionately likely to have gotten where
|
| 249 |
+
they are by ways that have little do with the sort of things
|
| 250 |
+
economists usually think about, like wages and productivity, but
|
| 251 |
+
rather by, say, ending up on the wrong side of the "War on Drugs."<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 252 |
+
Determination is the most important factor in deciding between
|
| 253 |
+
success and failure, which in startups tend to be sharply differentiated.
|
| 254 |
+
But it takes more than determination to create one of the hugely
|
| 255 |
+
successful startups. Though most founders start out excited about
|
| 256 |
+
the idea of getting rich, purely mercenary founders will usually
|
| 257 |
+
take one of the big acquisition offers most successful startups get
|
| 258 |
+
on the way up. The founders who go on to the next stage tend to
|
| 259 |
+
be driven by a sense of mission. They have the same attachment to
|
| 260 |
+
their companies that an artist or writer has to their work. But
|
| 261 |
+
it is very hard to predict at the outset which founders will do
|
| 262 |
+
that. It's not simply a function of their initial attitude. Starting
|
| 263 |
+
a company changes people.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 264 |
+
After reading a draft of this essay, Richard Florida told me
|
| 265 |
+
how he had once talked to a group of Europeans "who said
|
| 266 |
+
they wanted to make Europe more entrepreneurial and more
|
| 267 |
+
like Silicon Valley. I said by definition this will give you more
|
| 268 |
+
inequality. They thought I was insane — they could not process
|
| 269 |
+
it."<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 270 |
+
Economic inequality has been decreasing globally. But this
|
| 271 |
+
is mainly due to the erosion of the kleptocracies that formerly
|
| 272 |
+
dominated all the poorer countries. Once the playing field is
|
| 273 |
+
leveler politically, we'll see economic inequality start to rise
|
| 274 |
+
again. The US is the bellwether. The situation we face here, the
|
| 275 |
+
rest of the world will sooner or later.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 276 |
+
Some people still get rich by buying politicians. My point is that
|
| 277 |
+
it's no longer a precondition.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 278 |
+
As well as problems that have economic inequality as a symptom,
|
| 279 |
+
there are those that have it as a cause. But in most if not all,
|
| 280 |
+
economic inequality is not the primary cause. There is usually
|
| 281 |
+
some injustice that is allowing economic inequality to turn into
|
| 282 |
+
other forms of inequality, and that injustice is what we need to
|
| 283 |
+
fix. For example, the police in the US treat the poor worse than
|
| 284 |
+
the rich. But the solution is not to make people richer. It's to
|
| 285 |
+
make the police treat people more equitably. Otherwise they'll
|
| 286 |
+
continue to maltreat people who are weak in other ways.<br /><br />[<a name="f8n"><font color=#000000>8</font></a>]
|
| 287 |
+
Some who read this essay will say that I'm clueless or even
|
| 288 |
+
being deliberately misleading by focusing so much on the richer end
|
| 289 |
+
of economic inequality — that economic inequality is really about
|
| 290 |
+
poverty. But that is exactly the point I'm making, though sloppier
|
| 291 |
+
language than I'd use to make it. The real problem is poverty, not
|
| 292 |
+
economic inequality. And if you conflate them you're aiming at the
|
| 293 |
+
wrong target.<br /><br />Others will say I'm clueless or being misleading by focusing on
|
| 294 |
+
people who get rich by creating wealth — that startups aren't the
|
| 295 |
+
problem, but corrupt practices in finance, healthcare, and so on.
|
| 296 |
+
Once again, that is exactly my point. The problem is not economic
|
| 297 |
+
inequality, but those specific abuses.<br /><br />It's a strange task to write an essay about why something isn't the
|
| 298 |
+
problem, but that's the situation you find yourself in when so many
|
| 299 |
+
people mistakenly think it is.<br /><br />[<a name="f9n"><font color=#000000>9</font></a>]
|
| 300 |
+
Particularly since many causes of poverty are only partially
|
| 301 |
+
driven by people trying to make money from them. For example,
|
| 302 |
+
America's abnormally high incarceration rate is a major cause of
|
| 303 |
+
poverty. But although <a href="https://www.washingtonpost.com/posteverything/wp/2015/04/28/how-for-profit-prisons-have-become-the-biggest-lobby-no-one-is-talking-about/"><u>for-profit prison companies</u></a> and
|
| 304 |
+
<a href="http://mic.com/articles/41531/union-of-the-snake-how-california-s-prison-guards-subvert-democracy"><u>prison guard unions</u></a> both spend
|
| 305 |
+
a lot lobbying for harsh sentencing laws, they
|
| 306 |
+
are not the original source of them.<br /><br />[<a name="f10n"><font color=#000000>10</font></a>]
|
| 307 |
+
Incidentally, tax loopholes are definitely not a product
|
| 308 |
+
of some power shift due to recent increases in economic inequality.
|
| 309 |
+
The golden age of economic equality in the mid 20th century was
|
| 310 |
+
also the golden age of tax avoidance. Indeed, it was so widespread
|
| 311 |
+
and so effective that I'm skeptical whether economic inequality was
|
| 312 |
+
really so low then as we think. In a period when people are trying
|
| 313 |
+
to hide wealth from the government, it will tend to be hidden from
|
| 314 |
+
statistics too. One sign of the potential magnitude of the problem
|
| 315 |
+
is the discrepancy between government receipts as a percentage of
|
| 316 |
+
GDP, which have remained more or less constant during the entire
|
| 317 |
+
period from the end of World War II to the present, and tax rates,
|
| 318 |
+
which have varied dramatically.<br /><br />
|
| 319 |
+
<b>Thanks</b> to Sam Altman, Tiffani Ashley Bell, Patrick Collison, Ron
|
| 320 |
+
Conway, Richard Florida, Ben Horowitz, Jessica Livingston, Robert
|
| 321 |
+
Morris, Tim O'Reilly, Max Roser, and Alexia Tsotsis for reading
|
| 322 |
+
drafts of this.<br /><br /><b>Note:</b> This is a new version from which I
|
| 323 |
+
removed a pair of metaphors that made a lot of people mad,
|
| 324 |
+
essentially by macroexpanding them. If anyone wants to see
|
| 325 |
+
the old version, I put it <a href="ineqold.html"><u>here</u></a>.<br /><br /><br /><br /><b>Related:</b><br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="sim.html">The Short Version</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="klein.html">A Reply to Ezra Klein</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="okung.html">A Reply to Russell Okung</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="8" border="0" /></td><td width="210"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="https://medium.com/@edouardtheron/les-in�galit�s-�conomiques-da70011717c6">French Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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// Begin Store Generated Code
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/invtrend.html
ADDED
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| 1 |
+
<html><head><title>Startup Investing Trends</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc69><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc69 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/startup-investing-trends-2.gif" width="205" height="18" border="0" hspace="0" vspace="0" alt="Startup Investing Trends" /><br /><br /><font size="2" face="verdana">June 2013<br /><br /><i>(This talk was written for an audience of investors.)</i><br /><br />Y Combinator has now funded 564 startups including the current
|
| 4 |
+
batch, which has 53. The total valuation of the 287 that have
|
| 5 |
+
valuations (either by raising an equity round, getting acquired,
|
| 6 |
+
or dying) is about $11.7 billion, and the 511 prior to the current
|
| 7 |
+
batch have collectively raised about $1.7 billion.
|
| 8 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />As usual those numbers are dominated by a few big winners. The top
|
| 9 |
+
10 startups account for 8.6 of that 11.7 billion. But there is a
|
| 10 |
+
peloton of younger startups behind them. There are about 40 more
|
| 11 |
+
that have a shot at being really big.<br /><br />Things got a little out of hand last summer when we had 84 companies
|
| 12 |
+
in the batch, so we tightened up our filter to decrease the batch
|
| 13 |
+
size.
|
| 14 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font>
|
| 15 |
+
Several journalists have tried to interpret that as
|
| 16 |
+
evidence for some macro story they were telling, but the reason had
|
| 17 |
+
nothing to do with any external trend. The reason was that we
|
| 18 |
+
discovered we were using an n² algorithm, and we needed to buy
|
| 19 |
+
time to fix it. Fortunately we've come up with several techniques
|
| 20 |
+
for sharding YC, and the problem now seems to be fixed. With a new
|
| 21 |
+
more scaleable model and only 53 companies, the current batch feels
|
| 22 |
+
like a walk in the park. I'd guess we can grow another 2 or 3x
|
| 23 |
+
before hitting the next bottleneck.
|
| 24 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font><br /><br />One consequence of funding such a large number of startups is that
|
| 25 |
+
we see trends early. And since fundraising is one of the main
|
| 26 |
+
things we help startups with, we're in a good position to notice
|
| 27 |
+
trends in investing.<br /><br />I'm going to take a shot at describing where these trends are
|
| 28 |
+
leading. Let's start with the most basic question: will the future
|
| 29 |
+
be better or worse than the past? Will investors, in the aggregate,
|
| 30 |
+
make more money or less?<br /><br />I think more. There are multiple forces at work, some of which
|
| 31 |
+
will decrease returns, and some of which will increase them. I
|
| 32 |
+
can't predict for sure which forces will prevail, but I'll describe
|
| 33 |
+
them and you can decide for yourself.<br /><br />There are two big forces driving change in startup funding: it's
|
| 34 |
+
becoming cheaper to start a startup, and startups are becoming a
|
| 35 |
+
more normal thing to do.<br /><br />When I graduated from college in 1986, there were essentially two
|
| 36 |
+
options: get a job or go to grad school. Now there's a third: start
|
| 37 |
+
your own company.
|
| 38 |
+
That's a big change. In principle it was possible to start your
|
| 39 |
+
own company in 1986 too, but it didn't seem like a real possibility.
|
| 40 |
+
It seemed possible to start a consulting company, or a niche product
|
| 41 |
+
company, but it didn't seem possible to start a company that would
|
| 42 |
+
become big.
|
| 43 |
+
<font color=#999999>[<a href="#f4n"><font color=#999999>4</font></a>]</font><br /><br />That kind of change, from 2 paths to 3, is the sort of big social
|
| 44 |
+
shift that only happens once every few generations. I think we're
|
| 45 |
+
still at the beginning of this one. It's hard to predict how big
|
| 46 |
+
a deal it will be. As big a deal as the Industrial Revolution?
|
| 47 |
+
Maybe. Probably not. But it will be a big enough deal that it
|
| 48 |
+
takes almost everyone by surprise, because those big social shifts
|
| 49 |
+
always do.<br /><br />One thing we can say for sure is that there will be a lot more
|
| 50 |
+
startups. The monolithic, hierarchical companies of the mid 20th
|
| 51 |
+
century are being <a href="highres.html">replaced</a> by networks
|
| 52 |
+
of smaller companies. This process is not just something happening
|
| 53 |
+
now in Silicon Valley. It started decades ago, and it's happening
|
| 54 |
+
as far afield as the car industry. It has a long way to run.
|
| 55 |
+
<font color=#999999>[<a href="#f5n"><font color=#999999>5</font></a>]</font><br /><br />
|
| 56 |
+
The other big driver of change is that startups are becoming cheaper
|
| 57 |
+
to start. And in fact the two forces are related: the decreasing
|
| 58 |
+
cost of starting a startup is one of the reasons startups are
|
| 59 |
+
becoming a more normal thing to do.<br /><br />The fact that startups need less money means founders will increasingly
|
| 60 |
+
have the upper hand over investors. You still need just as much
|
| 61 |
+
of their energy and imagination, but they don't need as much of
|
| 62 |
+
your money. Because founders have the upper hand, they'll retain
|
| 63 |
+
an increasingly large share of the stock in, and <a href="control.html">control of</a>, their
|
| 64 |
+
companies. Which means investors will get less stock and less
|
| 65 |
+
control.<br /><br />Does that mean investors will make less money? Not necessarily,
|
| 66 |
+
because there will be more good startups. The total amount of
|
| 67 |
+
desirable startup stock available to investors will probably increase,
|
| 68 |
+
because the number of desirable startups will probably grow faster
|
| 69 |
+
than the percentage they sell to investors shrinks.<br /><br />There's a rule of thumb in the VC business that there are about 15
|
| 70 |
+
companies a year that will be really successful. Although a lot
|
| 71 |
+
of investors unconsciously treat this number as if it were some
|
| 72 |
+
sort of cosmological constant, I'm certain it isn't. There are
|
| 73 |
+
probably limits on the rate at which technology can develop, but
|
| 74 |
+
that's not the limiting factor now. If it were, each successful
|
| 75 |
+
startup would be founded the month it became possible, and that is
|
| 76 |
+
not the case. Right now the limiting factor on the number of big
|
| 77 |
+
hits is the number of sufficiently good founders starting companies,
|
| 78 |
+
and that number can and will increase. There are still a lot of
|
| 79 |
+
people who'd make great founders who never end up starting a company.
|
| 80 |
+
You can see that from how randomly some of the most successful
|
| 81 |
+
startups got started. So many of the biggest startups almost didn't
|
| 82 |
+
happen that there must be a lot of equally good startups that
|
| 83 |
+
actually didn't happen.<br /><br />There might be 10x or even 50x more good founders out there. As
|
| 84 |
+
more of them go ahead and start startups, those 15 big hits a year
|
| 85 |
+
could easily become 50 or even 100.
|
| 86 |
+
<font color=#999999>[<a href="#f6n"><font color=#999999>6</font></a>]</font><br /><br />What about returns, though? Are we heading for a world in which
|
| 87 |
+
returns will be pinched by increasingly high valuations? I think
|
| 88 |
+
the top firms will actually make more money than they have in the
|
| 89 |
+
past. High returns don't come from investing at low valuations.
|
| 90 |
+
They come from investing in the companies that do really well. So
|
| 91 |
+
if there are more of those to be had each year, the best pickers
|
| 92 |
+
should have more hits.<br /><br />This means there should be more variability in the VC business.
|
| 93 |
+
The firms that can recognize and attract the best startups will do
|
| 94 |
+
even better, because there will be more of them to recognize and
|
| 95 |
+
attract. Whereas the bad firms will get the leftovers, as they do
|
| 96 |
+
now, and yet pay a higher price for them.<br /><br />Nor do I think it will be a problem that founders keep control of
|
| 97 |
+
their companies for longer. The empirical evidence on that is
|
| 98 |
+
already clear: investors make more money as founders' bitches than
|
| 99 |
+
their bosses. Though somewhat humiliating, this is actually good
|
| 100 |
+
news for investors, because it takes less time to serve founders
|
| 101 |
+
than to micromanage them.<br /><br />What about angels? I think there is a lot of opportunity there.
|
| 102 |
+
It used to suck to be an angel investor. You couldn't get access
|
| 103 |
+
to the best deals, unless you got lucky like Andy Bechtolsheim, and
|
| 104 |
+
when you did invest in a startup, VCs might try to strip you of
|
| 105 |
+
your stock when they arrived later. Now an angel can go to something
|
| 106 |
+
like Demo Day or AngelList and have access to the same deals VCs
|
| 107 |
+
do. And the days when VCs could wash angels out of the cap table
|
| 108 |
+
are long gone.<br /><br />I think one of the biggest unexploited opportunities in startup
|
| 109 |
+
investing right now is angel-sized investments made quickly. Few
|
| 110 |
+
investors understand the cost that raising money from them imposes
|
| 111 |
+
on startups. When the company consists only of the founders,
|
| 112 |
+
everything grinds to a halt during fundraising, which can easily
|
| 113 |
+
take 6 weeks. The current high cost of fundraising means there is
|
| 114 |
+
room for low-cost investors to undercut the rest. And in this
|
| 115 |
+
context, low-cost means deciding quickly. If there were a reputable
|
| 116 |
+
investor who invested $100k on good terms and promised to decide
|
| 117 |
+
yes or no within 24 hours, they'd get access to almost all the best
|
| 118 |
+
deals, because every good startup would approach them first. It
|
| 119 |
+
would be up to them to pick, because every bad startup would approach
|
| 120 |
+
them first too, but at least they'd see everything. Whereas if an
|
| 121 |
+
investor is notorious for taking a long time to make up their mind
|
| 122 |
+
or negotiating a lot about valuation, founders will save them for
|
| 123 |
+
last. And in the case of the most promising startups, which tend
|
| 124 |
+
to have an easy time raising money, last can easily become never.<br /><br />Will the number of big hits grow linearly with the total number of
|
| 125 |
+
new startups? Probably not, for two reasons. One is that the
|
| 126 |
+
scariness of starting a startup in the old days was a pretty effective
|
| 127 |
+
filter. Now that the cost of failing is becoming lower, we should
|
| 128 |
+
expect founders to do it more. That's not a bad thing. It's common
|
| 129 |
+
in technology for an innovation that decreases the cost of failure
|
| 130 |
+
to increase the number of failures and yet leave you net ahead.<br /><br />The other reason the number of big hits won't grow proportionately
|
| 131 |
+
to the number of startups is that there will start to be an increasing
|
| 132 |
+
number of idea clashes. Although the finiteness of the number of
|
| 133 |
+
good ideas is not the reason there are only 15 big hits a year, the
|
| 134 |
+
number has to be finite, and the more startups there are, the more
|
| 135 |
+
we'll see multiple companies doing the same thing at the same time.
|
| 136 |
+
It will be interesting, in a bad way, if idea clashes become a lot
|
| 137 |
+
more common.
|
| 138 |
+
<font color=#999999>[<a href="#f7n"><font color=#999999>7</font></a>]</font><br /><br />Mostly because of the increasing number of early failures, the startup
|
| 139 |
+
business of the future won't simply be the same shape, scaled up.
|
| 140 |
+
What used to be an obelisk will become a pyramid. It will be a
|
| 141 |
+
little wider at the top, but a lot wider at the bottom.<br /><br />What does that mean for investors? One thing it means is that there
|
| 142 |
+
will be more opportunities for investors at the earliest stage,
|
| 143 |
+
because that's where the volume of our imaginary solid is growing
|
| 144 |
+
fastest. Imagine the obelisk of investors that corresponds to
|
| 145 |
+
the obelisk of startups. As it widens out into a pyramid to match
|
| 146 |
+
the startup pyramid, all the contents are adhering to the top,
|
| 147 |
+
leaving a vacuum at the bottom.<br /><br />That opportunity for investors mostly means an opportunity for new
|
| 148 |
+
investors, because the degree of risk an existing investor or firm
|
| 149 |
+
is comfortable taking is one of the hardest things for them to
|
| 150 |
+
change. Different types of investors are adapted to different
|
| 151 |
+
degrees of risk, but each has its specific degree of risk deeply
|
| 152 |
+
imprinted on it, not just in the procedures they follow but in the
|
| 153 |
+
personalities of the people who work there.<br /><br />I think the biggest danger for VCs, and also the biggest opportunity,
|
| 154 |
+
is at the series A stage. Or rather, what used to be the series A
|
| 155 |
+
stage before series As turned into de facto series B rounds.<br /><br />Right now, VCs often knowingly invest too much money at the series
|
| 156 |
+
A stage. They do it because they feel they need to get a big chunk
|
| 157 |
+
of each series A company to compensate for the opportunity cost of
|
| 158 |
+
the board seat it consumes. Which means when there is a lot of
|
| 159 |
+
competition for a deal, the number that moves is the valuation (and
|
| 160 |
+
thus amount invested) rather than the percentage of the company
|
| 161 |
+
being sold. Which means, especially in the case of more promising
|
| 162 |
+
startups, that series A investors often make companies take more
|
| 163 |
+
money than they want.<br /><br />Some VCs lie and claim the company really needs that much. Others
|
| 164 |
+
are more candid, and admit their financial models require them to
|
| 165 |
+
own a certain percentage of each company. But we all know the
|
| 166 |
+
amounts being raised in series A rounds are not determined by asking
|
| 167 |
+
what would be best for the companies. They're determined by VCs
|
| 168 |
+
starting from the amount of the company they want to own, and the
|
| 169 |
+
market setting the valuation and thus the amount invested.<br /><br />Like a lot of bad things, this didn't happen intentionally. The
|
| 170 |
+
VC business backed into it as their initial assumptions gradually
|
| 171 |
+
became obsolete. The traditions and financial models of the VC
|
| 172 |
+
business were established when founders needed investors more. In
|
| 173 |
+
those days it was natural for founders to sell VCs a big chunk of
|
| 174 |
+
their company in the series A round. Now founders would prefer to
|
| 175 |
+
sell less, and VCs are digging in their heels because they're not
|
| 176 |
+
sure if they can make money buying less than 20% of each series A
|
| 177 |
+
company.<br /><br />The reason I describe this as a danger is that series A investors
|
| 178 |
+
are increasingly at odds with the startups they supposedly serve,
|
| 179 |
+
and that tends to come back to bite you eventually. The reason I
|
| 180 |
+
describe it as an opportunity is that there is now a lot of potential
|
| 181 |
+
energy built up, as the market has moved away from VCs' traditional
|
| 182 |
+
business model. Which means the first VC to break ranks and start
|
| 183 |
+
to do series A rounds for as much equity as founders want to sell
|
| 184 |
+
(and with no "option pool" that comes only from the founders' shares)
|
| 185 |
+
stands to reap huge benefits.<br /><br />What will happen to the VC business when that happens? Hell if I
|
| 186 |
+
know. But I bet that particular firm will end up ahead. If one
|
| 187 |
+
top-tier VC firm started to do series A rounds that started from
|
| 188 |
+
the amount the company needed to raise and let the percentage
|
| 189 |
+
acquired vary with the market, instead of the other way around,
|
| 190 |
+
they'd instantly get almost all the best startups. And that's where
|
| 191 |
+
the money is.<br /><br />You can't fight market forces forever. Over the last decade we've
|
| 192 |
+
seen the percentage of the company sold in series A rounds creep
|
| 193 |
+
inexorably downward. 40% used to be common. Now VCs are fighting
|
| 194 |
+
to hold the line at 20%. But I am daily waiting for the line to
|
| 195 |
+
collapse. It's going to happen. You may as well anticipate it,
|
| 196 |
+
and look bold.<br /><br />Who knows, maybe VCs will make more money by doing the right thing.
|
| 197 |
+
It wouldn't be the first time that happened. Venture capital is a
|
| 198 |
+
business where occasional big successes generate hundredfold returns.
|
| 199 |
+
How much confidence can you really have in financial models for
|
| 200 |
+
something like that anyway? The
|
| 201 |
+
big successes only have to get a tiny bit less occasional to
|
| 202 |
+
compensate for a 2x decrease in the stock sold in series A rounds.<br /><br />If you want to find new opportunities for investing, look for things
|
| 203 |
+
founders complain about. Founders are your customers, and the
|
| 204 |
+
things they complain about are unsatisfied demand. I've given two
|
| 205 |
+
examples of things founders complain about most—investors who
|
| 206 |
+
take too long to make up their minds, and excessive dilution in
|
| 207 |
+
series A rounds—so those are good places to look now. But
|
| 208 |
+
the more general recipe is: do something founders want.<br /><br /><br /><br /><br /><br />
|
| 209 |
+
<b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 210 |
+
I realize revenue and not fundraising is the proper test of
|
| 211 |
+
success for a startup. The reason we quote statistics about
|
| 212 |
+
fundraising is because those are the numbers we have. We couldn't
|
| 213 |
+
talk meaningfully about revenues without including the numbers from
|
| 214 |
+
the most successful startups, and we don't have those. We often
|
| 215 |
+
discuss revenue growth with the earlier stage startups, because
|
| 216 |
+
that's how we gauge their progress, but when companies reach a
|
| 217 |
+
certain size it gets presumptuous for a seed investor to do that.<br /><br />In any case, companies' market caps do eventually become a function
|
| 218 |
+
of revenues, and post-money valuations of funding rounds are at
|
| 219 |
+
least guesses by pros about where those market caps will end up.<br /><br />The reason only 287 have valuations is that the rest have mostly
|
| 220 |
+
raised money on convertible notes, and although convertible notes
|
| 221 |
+
often have valuation caps, a valuation cap is merely an upper bound
|
| 222 |
+
on a valuation.<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 223 |
+
We didn't try to accept a particular number. We have no way
|
| 224 |
+
of doing that even if we wanted to. We just tried to be significantly
|
| 225 |
+
pickier.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 226 |
+
Though you never know with bottlenecks, I'm guessing the next
|
| 227 |
+
one will be coordinating efforts among partners.<br /><br />[<a name="f4n"><font color=#000000>4</font></a>]
|
| 228 |
+
I realize starting a company doesn't have to mean starting a
|
| 229 |
+
<a href="growth.html">startup</a>. There will be lots of people starting normal companies
|
| 230 |
+
too. But that's not relevant to an audience of investors.<br /><br />Geoff Ralston reports that in Silicon Valley it seemed thinkable
|
| 231 |
+
to start a startup in the mid 1980s. It would have started there.
|
| 232 |
+
But I know it didn't to undergraduates on the East Coast.<br /><br />[<a name="f5n"><font color=#000000>5</font></a>]
|
| 233 |
+
This trend is one of the main causes of the increase in
|
| 234 |
+
economic inequality in the US since the mid twentieth century. The
|
| 235 |
+
person who would in 1950 have been the general manager of the x
|
| 236 |
+
division of Megacorp is now the founder of the x company, and owns
|
| 237 |
+
significant equity in it.<br /><br />[<a name="f6n"><font color=#000000>6</font></a>]
|
| 238 |
+
If Congress passes the <a href="foundervisa.html">founder
|
| 239 |
+
visa</a> in a non-broken form, that alone could in principle get
|
| 240 |
+
us up to 20x, since 95% of the world's population lives outside the
|
| 241 |
+
US.<br /><br />[<a name="f7n"><font color=#000000>7</font></a>]
|
| 242 |
+
If idea clashes got bad enough, it could change what it means
|
| 243 |
+
to be a startup. We currently advise startups mostly to ignore
|
| 244 |
+
competitors. We tell them startups are competitive like running,
|
| 245 |
+
not like soccer; you don't have to go and steal the ball away from
|
| 246 |
+
the other team. But if idea clashes became common enough, maybe
|
| 247 |
+
you'd start to have to. That would be unfortunate.<br /><br /><b>Thanks</b> to Sam Altman, Paul Buchheit, Dalton Caldwell,
|
| 248 |
+
Patrick Collison, Jessica
|
| 249 |
+
Livingston, Andrew Mason, Geoff Ralston, and Garry Tan for reading
|
| 250 |
+
drafts of this.<br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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<script type="text/javascript">
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// Begin Store Generated Code
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function csell_GLOBAL_INIT_TAG() { var csell_token_map = {}; csell_token_map['TOK_SPACEID'] = '2022276099'; csell_token_map['TOK_URL'] = ''; csell_token_map['TOK_STORE_ID'] = 'paulgraham'; csell_token_map['TOK_ITEM_ID_LIST'] = 'invtrend'; csell_token_map['TOK_ORDER_HOST'] = 'order.store.turbify.net'; csell_token_map['TOK_BEACON_TYPE'] = 'prod'; csell_token_map['TOK_RAND_KEY'] = 't'; csell_token_map['TOK_IS_ORDERABLE'] = '2'; c = csell_page_data; var x = (typeof storeCheckoutDomain == 'string')?storeCheckoutDomain:'order.store.turbify.net'; var t = csell_token_map; c['s'] = t['TOK_SPACEID']; c['url'] = t['TOK_URL']; c['si'] = t[ts]; c['ii'] = t['TOK_ITEM_ID_LIST']; c['bt'] = t['TOK_BEACON_TYPE']; c['rnd'] = t['TOK_RAND_KEY']; c['io'] = t['TOK_IS_ORDERABLE']; YStore.addItemUrl = 'http%s://'+x+'/'+t[ts]+'/ymix/MetaController.html?eventName.addEvent&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_itemId=%s&cartDS.shoppingcart_ROW0_m_orderItemVector_ROW0_m_quantity=1&ysco_key_cs_item=1§ionId=ysco.cart&ysco_key_store_id='+t[ts]; }
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<script type="text/javascript">
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// Begin Store Generated Code
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<script type="text/javascript">
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// Begin Store Generated Code
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|
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|
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</html>
|
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/jessica.html
ADDED
|
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|
| 1 |
+
<html><head><title>Jessica Livingston</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc45><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc45 border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/jessica-livingston-4.gif" width="146" height="18" border="0" hspace="0" vspace="0" alt="Jessica Livingston" /><br /><br /><font size="2" face="verdana">November 2015<br /><br />A few months ago an article about Y Combinator said that early on
|
| 4 |
+
it had been a "one-man show." It's sadly common to read that sort
|
| 5 |
+
of thing. But the problem with that description is not just that
|
| 6 |
+
it's unfair. It's also misleading. Much of what's most novel about
|
| 7 |
+
YC is due to Jessica Livingston. If you don't understand her, you
|
| 8 |
+
don't understand YC. So let me tell you a little about Jessica.<br /><br />YC had 4 founders. Jessica and I decided one night to start it,
|
| 9 |
+
and the next day we recruited my friends Robert Morris and Trevor
|
| 10 |
+
Blackwell. Jessica and I ran YC day to day, and Robert and Trevor
|
| 11 |
+
read applications and did interviews with us.<br /><br />Jessica and I were already dating when we started YC. At first we
|
| 12 |
+
tried to act "professional" about this, meaning we tried to conceal
|
| 13 |
+
it. In retrospect that seems ridiculous, and we soon dropped the
|
| 14 |
+
pretense. And the fact that Jessica and I were a couple is a big
|
| 15 |
+
part of what made YC what it was. YC felt like a family. The
|
| 16 |
+
founders early on were mostly young. We all had dinner together
|
| 17 |
+
once a week, cooked for the first couple years by me. Our first
|
| 18 |
+
building had been a private home. The overall atmosphere was
|
| 19 |
+
shockingly different from a VC's office on Sand Hill Road, in a way
|
| 20 |
+
that was entirely for the better. There was an authenticity that
|
| 21 |
+
everyone who walked in could sense. And that didn't just mean that
|
| 22 |
+
people trusted us. It was the perfect quality to instill in startups.
|
| 23 |
+
Authenticity is one of the most important things YC looks for in
|
| 24 |
+
founders, not just because fakers and opportunists are annoying,
|
| 25 |
+
but because authenticity is one of the main things that separates
|
| 26 |
+
the most successful startups from the rest.<br /><br />Early YC was a family, and Jessica was its mom. And the culture
|
| 27 |
+
she defined was one of YC's most important innovations. Culture
|
| 28 |
+
is important in any organization, but at YC culture wasn't just how
|
| 29 |
+
we behaved when we built the product. At YC, the culture was the
|
| 30 |
+
product.<br /><br />Jessica was also the mom in another sense: she had the last word.
|
| 31 |
+
Everything we did as an organization went through her <nobr>first — who</nobr>
|
| 32 |
+
to fund, what to say to the public, how to deal with other companies,
|
| 33 |
+
who to hire, everything.<br /><br />Before we had kids, YC was more or less our life. There was no real
|
| 34 |
+
distinction between working hours and not. We talked about YC all
|
| 35 |
+
the time. And while there might be some businesses that it would
|
| 36 |
+
be tedious to let infect your private life, we liked it. We'd started
|
| 37 |
+
YC because it was something we were interested in. And some of the
|
| 38 |
+
problems we were trying to solve were endlessly difficult. How do
|
| 39 |
+
you recognize good founders? You could talk about that for years,
|
| 40 |
+
and we did; we still do.<br /><br />I'm better at some things than Jessica, and she's better at some
|
| 41 |
+
things than me. One of the things she's best at is judging people.
|
| 42 |
+
She's one of those rare individuals with x-ray vision for character.
|
| 43 |
+
She can see through any kind of faker almost immediately. Her
|
| 44 |
+
nickname within YC was the Social Radar, and this special power of
|
| 45 |
+
hers was critical in making YC what it is. The earlier you pick
|
| 46 |
+
startups, the more you're picking the founders. Later stage investors
|
| 47 |
+
get to try products and look at growth numbers. At the stage where
|
| 48 |
+
YC invests, there is often neither a product nor any numbers.<br /><br />Others thought YC had some special insight about the future of
|
| 49 |
+
technology. Mostly we had the same sort of insight Socrates claimed:
|
| 50 |
+
we at least knew we knew nothing. What made YC successful was being
|
| 51 |
+
able to pick good founders. We thought Airbnb was a bad idea. We
|
| 52 |
+
funded it because we liked the founders.<br /><br />During interviews, Robert and Trevor and I would pepper the applicants
|
| 53 |
+
with technical questions. Jessica would mostly watch. A lot of
|
| 54 |
+
the applicants probably read her as some kind of secretary, especially
|
| 55 |
+
early on, because she was the one who'd go out and get each new
|
| 56 |
+
group and she didn't ask many questions. She was ok with that. It
|
| 57 |
+
was easier for her to watch people if they didn't notice her. But
|
| 58 |
+
after the interview, the three of us would turn to Jessica and ask
|
| 59 |
+
"What does the Social Radar say?"
|
| 60 |
+
<font color=#999999>[<a href="#f1n"><font color=#999999>1</font></a>]</font><br /><br />Having the Social Radar at interviews wasn't just how we picked
|
| 61 |
+
founders who'd be successful. It was also how we picked founders
|
| 62 |
+
who were good people. At first we did this because we couldn't
|
| 63 |
+
help it. Imagine what it would feel like to have x-ray vision for
|
| 64 |
+
character. Being around bad people would be intolerable. So we'd
|
| 65 |
+
refuse to fund founders whose characters we had doubts about even
|
| 66 |
+
if we thought they'd be successful.<br /><br />Though we initially did this out of self-indulgence, it turned out
|
| 67 |
+
to be very valuable to YC. We didn't realize it in the beginning,
|
| 68 |
+
but the people we were picking would become the YC alumni network.
|
| 69 |
+
And once we picked them, unless they did something really egregious,
|
| 70 |
+
they were going to be part of it for life. Some now think YC's
|
| 71 |
+
alumni network is its most valuable feature. I personally think
|
| 72 |
+
YC's advice is pretty good too, but the alumni network is certainly
|
| 73 |
+
among the most valuable features. The level of trust and helpfulness
|
| 74 |
+
is remarkable for a group of such size. And Jessica is the main
|
| 75 |
+
reason why.<br /><br />(As we later learned, it probably cost us little to reject people
|
| 76 |
+
whose characters we had doubts about, because how good founders are
|
| 77 |
+
and how well they do are <a href="mean.html"><u>not orthogonal</u></a>. If bad founders succeed
|
| 78 |
+
at all, they tend to sell early. The most successful founders are
|
| 79 |
+
almost all good.)<br /><br />If Jessica was so important to YC, why don't more people realize
|
| 80 |
+
it? Partly because I'm a writer, and writers always get disproportionate
|
| 81 |
+
attention. YC's brand was initially my brand, and our applicants
|
| 82 |
+
were people who'd read my essays. But there is another reason:
|
| 83 |
+
Jessica hates attention. Talking to reporters makes her nervous.
|
| 84 |
+
The thought of giving a talk paralyzes her. She was even uncomfortable
|
| 85 |
+
at our wedding, because the bride is always the center of attention.
|
| 86 |
+
<font color=#999999>[<a href="#f2n"><font color=#999999>2</font></a>]</font><br /><br />It's not just because she's shy that she hates attention, but because
|
| 87 |
+
it throws off the Social Radar. She can't be herself. You can't
|
| 88 |
+
watch people when everyone is watching you.<br /><br />Another reason attention worries her is that she hates bragging.
|
| 89 |
+
In anything she does that's publicly visible, her biggest fear
|
| 90 |
+
(after the obvious fear that it will be bad) is that it will seem
|
| 91 |
+
ostentatious. She says being too modest is a common problem for
|
| 92 |
+
women. But in her case it goes beyond that. She has a horror of
|
| 93 |
+
ostentation so visceral it's almost a phobia.<br /><br />She also hates fighting. She can't do it; she just shuts down. And
|
| 94 |
+
unfortunately there is a good deal of fighting in being the public
|
| 95 |
+
face of an organization.<br /><br />So although Jessica more than anyone made YC unique, the very
|
| 96 |
+
qualities that enabled her to do it mean she tends to get written
|
| 97 |
+
out of YC's history. Everyone buys this story that PG started YC
|
| 98 |
+
and his wife just kind of helped. Even YC's haters buy it. A
|
| 99 |
+
couple years ago when people were attacking us for not funding more
|
| 100 |
+
female founders (than exist), they all treated YC as identical with
|
| 101 |
+
PG. It would have spoiled the narrative to acknowledge Jessica's
|
| 102 |
+
central role at YC.<br /><br />Jessica was boiling mad that people were accusing <i>her</i> company of
|
| 103 |
+
sexism. I've never seen her angrier about anything. But she did
|
| 104 |
+
not contradict them. Not publicly. In private there was a great
|
| 105 |
+
deal of profanity. And she wrote three separate essays about the
|
| 106 |
+
question of female founders. But she could never bring herself to
|
| 107 |
+
publish any of them. She'd seen the level of vitriol in this debate,
|
| 108 |
+
and she shrank from engaging.
|
| 109 |
+
<font color=#999999>[<a href="#f3n"><font color=#999999>3</font></a>]</font><br /><br />It wasn't just because she disliked fighting. She's so sensitive
|
| 110 |
+
to character that it repels her even to fight with dishonest people.
|
| 111 |
+
The idea of mixing it up with linkbait journalists or Twitter trolls
|
| 112 |
+
would seem to her not merely frightening, but disgusting.<br /><br />But Jessica knew her example as a successful female founder would
|
| 113 |
+
encourage more women to start companies, so last year she did
|
| 114 |
+
something YC had never done before and hired a PR firm to get her
|
| 115 |
+
some interviews. At one of the first she did, the reporter brushed
|
| 116 |
+
aside her insights about startups and turned it into a sensationalistic
|
| 117 |
+
story about how some guy had tried to chat her up as she was waiting
|
| 118 |
+
outside the bar where they had arranged to meet. Jessica was
|
| 119 |
+
mortified, partly because the guy had done nothing wrong, but more
|
| 120 |
+
because the story treated her as a victim significant only for being
|
| 121 |
+
a woman, rather than one of the most knowledgeable investors in the
|
| 122 |
+
Valley.<br /><br />After that she told the PR firm to stop.<br /><br />You're not going to be hearing in the press about what Jessica has
|
| 123 |
+
achieved. So let me tell you what Jessica has achieved. <nobr>Y Combinator</nobr>
|
| 124 |
+
is fundamentally a nexus of people, like a university. It doesn't
|
| 125 |
+
make a product. What defines it is the people. Jessica more than
|
| 126 |
+
anyone curated and nurtured that collection of people. In that
|
| 127 |
+
sense she literally made YC.<br /><br />Jessica knows more about the qualities of startup founders than
|
| 128 |
+
anyone else ever has. Her immense data set and x-ray vision are the
|
| 129 |
+
perfect storm in that respect. The qualities of the founders are
|
| 130 |
+
the best predictor of how a startup will do. And startups are in
|
| 131 |
+
turn the most important source of growth in mature economies.<br /><br />The person who knows the most about the most important factor in
|
| 132 |
+
the growth of mature economies — that is who Jessica Livingston is.
|
| 133 |
+
Doesn't that sound like someone who should be better known?<br /><br /><br /><br /><br /><br /><br /><br /><b>Notes</b><br /><br />[<a name="f1n"><font color=#000000>1</font></a>]
|
| 134 |
+
Harj Taggar reminded me that while Jessica didn't ask many
|
| 135 |
+
questions, they tended to be important ones:<br /><br />"She was always good at sniffing out any red flags about the team
|
| 136 |
+
or their determination and disarmingly asking the right question,
|
| 137 |
+
which usually revealed more than the founders realized."<br /><br />[<a name="f2n"><font color=#000000>2</font></a>]
|
| 138 |
+
Or more precisely, while she likes getting attention in the
|
| 139 |
+
sense of getting credit for what she has done, she doesn't like
|
| 140 |
+
getting attention in the sense of being watched in real time.
|
| 141 |
+
Unfortunately, not just for her but for a lot of people, how much
|
| 142 |
+
you get of the former depends a lot on how much you get of the
|
| 143 |
+
latter.<br /><br />Incidentally, if you saw Jessica at a public event, you would never
|
| 144 |
+
guess she
|
| 145 |
+
hates attention, because (a) she is very polite and (b) when she's
|
| 146 |
+
nervous, she expresses it by smiling more.<br /><br />[<a name="f3n"><font color=#000000>3</font></a>]
|
| 147 |
+
The existence of people like Jessica is not just something
|
| 148 |
+
the mainstream media needs to learn to acknowledge, but something
|
| 149 |
+
feminists need to learn to acknowledge as well. There are successful
|
| 150 |
+
women who don't like to fight. Which means if the public conversation
|
| 151 |
+
about women consists of fighting, their voices will be silenced.<br /><br />There's a sort of Gresham's Law of conversations. If a conversation
|
| 152 |
+
reaches a certain level of incivility, the more thoughtful people
|
| 153 |
+
start to leave. No one understands female founders better than
|
| 154 |
+
Jessica. But it's unlikely anyone will ever hear her speak candidly
|
| 155 |
+
about the topic. She ventured a toe in that water a while ago, and
|
| 156 |
+
the reaction was so violent that she decided "never again."<br /><br />
|
| 157 |
+
<b>Thanks</b> to Sam Altman, Paul Buchheit, Patrick Collison,
|
| 158 |
+
Daniel Gackle, Carolynn
|
| 159 |
+
Levy, Jon Levy, Kirsty Nathoo, Robert Morris, Geoff Ralston, and
|
| 160 |
+
Harj Taggar for reading drafts of this. And yes, Jessica Livingston,
|
| 161 |
+
who made me cut surprisingly little.<br /><br /><br /><br /></font></td></tr></table><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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|
platform/aiml/etl/corpus-data/for-profit/raw/paulgraham/paulgraham.com/know.html
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| 1 |
+
<html><head><title>How You Know</title><!-- <META NAME="ROBOTS" CONTENT="NOODP"> -->
|
| 2 |
+
<link rel="shortcut icon" href="http://ycombinator.com/arc/arc.png">
|
| 3 |
+
</head><body bgcolor="#ffffff" background="https://s.turbifycdn.com/aah/paulgraham/essays-4.gif" text="#000000" link="#000099" vlink="#464646"><table border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td><map name=1717c64a02ebc7b><area shape=rect coords="0,0,67,21" href="index.html"><area shape=rect coords="0,21,67,42" href="articles.html"><area shape=rect coords="0,42,67,63" href="http://www.amazon.com/gp/product/0596006624"><area shape=rect coords="0,63,67,84" href="books.html"><area shape=rect coords="0,84,67,105" href="http://ycombinator.com"><area shape=rect coords="0,105,67,126" href="arc.html"><area shape=rect coords="0,126,67,147" href="bel.html"><area shape=rect coords="0,147,67,168" href="lisp.html"><area shape=rect coords="0,168,67,189" href="antispam.html"><area shape=rect coords="0,189,67,210" href="kedrosky.html"><area shape=rect coords="0,210,67,231" href="faq.html"><area shape=rect coords="0,231,67,252" href="raq.html"><area shape=rect coords="0,252,67,273" href="quo.html"><area shape=rect coords="0,273,67,294" href="rss.html"><area shape=rect coords="0,294,67,315" href="bio.html"><area shape=rect coords="0,315,67,336" href="https://twitter.com/paulg"><area shape=rect coords="0,336,67,357" href="https://mas.to/@paulg"></map><img src="https://s.turbifycdn.com/aah/paulgraham/essays-5.gif" width="69" height="357" usemap=#1717c64a02ebc7b border="0" hspace="0" vspace="0" ismap /></td><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="1" width="26" border="0" /></td><td><a href="index.html"><img src="https://s.turbifycdn.com/aah/paulgraham/essays-6.gif" width="410" height="45" border="0" hspace="0" vspace="0" /></a><br /><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-you-know-4.gif" width="120" height="18" border="0" hspace="0" vspace="0" alt="How You Know" /><br /><br /><font size="2" face="verdana">December 2014<br /><br />I've read Villehardouin's chronicle of the Fourth Crusade at least
|
| 4 |
+
two times, maybe three. And yet if I had to write down everything
|
| 5 |
+
I remember from it, I doubt it would amount to much more than a
|
| 6 |
+
page. Multiply this times several hundred, and I get an uneasy
|
| 7 |
+
feeling when I look at my bookshelves. What use is it to read all
|
| 8 |
+
these books if I remember so little from them?<br /><br />A few months ago, as I was reading Constance Reid's excellent
|
| 9 |
+
biography of Hilbert, I figured out if not the answer to this
|
| 10 |
+
question, at least something that made me feel better about it.
|
| 11 |
+
She writes:
|
| 12 |
+
<blockquote>
|
| 13 |
+
Hilbert had no patience with mathematical lectures which filled
|
| 14 |
+
the students with facts but did not teach them how to frame a
|
| 15 |
+
problem and solve it. He often used to tell them that "a perfect
|
| 16 |
+
formulation of a problem is already half its solution."
|
| 17 |
+
</blockquote>
|
| 18 |
+
That has always seemed to me an important point, and I was even
|
| 19 |
+
more convinced of it after hearing it confirmed by Hilbert.<br /><br />But how had I come to believe in this idea in the first place? A
|
| 20 |
+
combination of my own experience and other things I'd read. None
|
| 21 |
+
of which I could at that moment remember! And eventually I'd forget
|
| 22 |
+
that Hilbert had confirmed it too. But my increased belief in the
|
| 23 |
+
importance of this idea would remain something I'd learned from
|
| 24 |
+
this book, even after I'd forgotten I'd learned it.<br /><br />Reading and experience train your model of the world. And even if
|
| 25 |
+
you forget the experience or what you read, its effect on your model
|
| 26 |
+
of the world persists. Your mind is like a compiled program you've
|
| 27 |
+
lost the source of. It works, but you don't know why.<br /><br />The place to look for what I learned from Villehardouin's chronicle
|
| 28 |
+
is not what I remember from it, but my mental models of the crusades,
|
| 29 |
+
Venice, medieval culture, siege warfare, and so on. Which doesn't
|
| 30 |
+
mean I couldn't have read more attentively, but at least the harvest
|
| 31 |
+
of reading is not so miserably small as it might seem.<br /><br />This is one of those things that seem obvious in retrospect. But
|
| 32 |
+
it was a surprise to me and presumably would be to anyone else who
|
| 33 |
+
felt uneasy about (apparently) forgetting so much they'd read.<br /><br />Realizing it does more than make you feel a little better about
|
| 34 |
+
forgetting, though. There are specific implications.<br /><br />For example, reading and experience are usually "compiled" at the
|
| 35 |
+
time they happen, using the state of your brain at that time. The
|
| 36 |
+
same book would get compiled differently at different points in
|
| 37 |
+
your life. Which means it is very much worth reading important
|
| 38 |
+
books multiple times. I always used to feel some misgivings about
|
| 39 |
+
rereading books. I unconsciously lumped reading together with work
|
| 40 |
+
like carpentry, where having to do something again is a sign you
|
| 41 |
+
did it wrong the first time. Whereas now the phrase "already read"
|
| 42 |
+
seems almost ill-formed.<br /><br />Intriguingly, this implication isn't limited to books. Technology
|
| 43 |
+
will increasingly make it possible to relive our experiences. When
|
| 44 |
+
people do that today it's usually to enjoy them again (e.g. when
|
| 45 |
+
looking at pictures of a trip) or to find the origin of some bug in
|
| 46 |
+
their compiled code (e.g. when Stephen Fry succeeded in remembering
|
| 47 |
+
the childhood trauma that prevented him from singing). But as
|
| 48 |
+
technologies for recording and playing back your life improve, it
|
| 49 |
+
may become common for people to relive experiences without any goal
|
| 50 |
+
in mind, simply to learn from them again as one might when rereading
|
| 51 |
+
a book.<br /><br />Eventually we may be able not just to play back experiences but
|
| 52 |
+
also to index and even edit them. So although not knowing how you
|
| 53 |
+
know things may seem part of being human, it may not be.<br /><br /><br /><br /><br /><br /><br /><br />
|
| 54 |
+
<b>Thanks</b> to Sam Altman, Jessica Livingston, and Robert Morris for reading
|
| 55 |
+
drafts of this.<br /><br /></font></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="5" width="1" border="0" /></td></tr><tr valign="top"><td width="435"><img src="https://s.turbifycdn.com/aah/paulgraham/how-to-get-new-ideas-5.gif" width="12" height="14" align="left" border="0" hspace="0" vspace="0" /><font size="2" face="verdana"><a href="http://postd.cc/how-you-know/">Japanese Translation</a><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="2" width="1" border="0" /><br /></font></td></tr><tr><td><img src="https://sep.turbifycdn.com/ca/Img/trans_1x1.gif" height="3" width="1" border="0" /></td></tr></table><br /><table border="0" cellspacing="0" cellpadding="0" width="435"><tr><td><font size="2" face="verdana"><br><br><hr></font></td></tr></table></td></tr></table></body>
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