Startup incubator Y-Combinator cofounder Paul Graham says ignore the market — now’s a great time to start a company. Paul uses about 1,000 words to say it. Too many.
Here’s the bullet points version:
- We may be in for a stretch as bad as the mid seventies — when Microsoft and Apple were founded.
- Someone who thinks “I better not start a startup now, because the economy is so bad” is making the same mistake as the people who thought during the Bubble “all I have to do is start a startup, and I’ll be rich.”
- Think more about who you can recruit than the economy.
- Microsoft’s first product was a Basic interpreter for the Altair. That was exactly what the world needed in 1975, but if Gates and Allen had decided to wait a few years, it would have been too late. If you have a specific idea you want to act on, act now.
- That doesn’t mean you can ignore the economy. Make things that save money.
- Investors are more of a problem. But that’s nothing new: startups always have to adapt to the whims of investors.
- The way to make a startup recession-proof is to do exactly what you should do anyway: run it as cheaply as possible.
- What if you quit your job to start a startup that fails, and you can’t find another? Good hackers can always get some kind of job.
- Another advantage of bad times is that there’s less competition.
- As a founder, you’re buying stock with work. And like any investor you should buy when times are bad.
(Photo by Tourist Republic)