Reading 06: Wealth Creation
The three essays by Paul Graham that we read this week certainly had some interesting takes on startups and wealth. The way he describes startups appears incredibly frightening to someone who is considering all job prospects nearing graduation, like myself. While most of Graham's writings on startups focus on the people and innovations that make them successful, he does highlight how "there is a large random factor in the success of any company" (How to Make Wealth, Graham). When talking about the downsides of startups, Graham describes their approach to business as similar to a mosquito. These companies risk shutdown to make as many jumps and leaps as possible to strive for more success, cutting corners and making rash decisions all over. This seems like common knowledge, but Graham drives home just how luck-based it can be. Viaweb evidently came close to failure several times, even with a risk-adverse approach to business. In today's world, however, Graham claims t