Paul Graham and the Implications of Frictionless Entrepreneurship
The always interesting Paul Graham has a new essay out about why undergrads who want to be entrepreneurs should start companies rather than pursuing the traditional path of working for someone else.
In summary, his point is that entrepreneurship is cheaper than ever (if not easier), and that because entry-level jobs all pay pretty much the same, the job market undervalues the truly talented new graduates. Instead, those budding entrepreneurs should just go and start a company (bearing in mind the critical goal of building something that people will use and pay for). If they fail, they’ll have learned a lot (I know that I sure did) and probably be more attractive to potential employers.
This is an example of how a more dedicated blogger than I can draw subtler connections. While I have written about the declining friction of entrepreneurship (as have others like Bill Grosso), it takes a guy like Paul to draw the non-obvious conclusion that this trend tips the balance in favor of starting companies when you’re 21, rather than waiting a couple of years.