The Impact of the Macroeconomic Recession on Silicon Valley

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Y Combinator co-founder says the bad days are over for startups. California's fiscal troubles don't seem to affect anything at all, he says. But taxes here are already hidey, if we high. So just think what it's going to be like when it's higher still.

Paul Graham, essayist, programmer and partner in the y-combinator talks with EconTalk host Russ Roberts about start-ups, innovation, and creativity. Graham draws on his experience as entrepreneur and investor to discuss the current state of the start-up world and how that world has changed due to improved technology that makes it easier to start a software company. Graham talks about his unusual venture firm, the y-combinator, and how he and his partners work with start-ups to get them ready for more advanced funding. Along the way, Graham discusses why hackers are like painters and how to survive high school.