How to Fund a Startup in the First Batch

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Justin.tv is the leading live streaming video site, and it gets more viewers than Hulu or something like that. The Justin.tv guys were doing a different startup that failed but then we liked them so much they funded their next one. Another startup in the first batch was Reddit. Do you know Reddit? The social news site, right? That was in the firstbatch. And there was a startup in thefirst batch that was the first one that got bought. Actually, it was called TextPayme. It got bought almost instantly out of that batch.

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.