Why It's Cheaper to Start a Startup

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It's now so much easier to start a startup than it was 20 or 30 years ago. Moore's Law has made computers effectively free, the internet has made promotion free and programming languages have gotten more advanced. You don't need to raise money to hire anyone because hiring people like that is suddenly shockingly expensive. So basically you build it and they will come - which didn't used to be as true as it is now.

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.