Quotes from Paul Graham

If you look at history, it seems that most people who got rich by creating wealth did it by developing new technology. You just can't fry eggs or cut hair fast enough.

What made the Florentines rich in 1200 was the discovery of new techniques for making the high-tech product of the time, fine woven cloth. What made the Dutch rich in 1600 was the discovery of shipbuilding and navigation techniques that enabled them to dominate the seas of the Far East.

And you had better have a convincing explanation of why your technology would be hard to duplicate. Otherwise as soon as some big company becomes aware of it, they'll make their own, and with their brand name, capital, and distribution clout, they'll take away your market overnight. You'd be like guerillas caught in the open field by regular army forces.

Few smart kids can spare the attention that popularity requires. Unless they also happen to be good-looking, natural athletes, or siblings of popular kids, they'll tend to become nerds.

A company big enough to acquire startups will be big enough to be fairly conservative, and within the company the people in charge of acquisitions will be among the more conservative, because they are likely to be business school types who joined the company late. They would rather overpay for a safe choice.

In both cases, what it all comes down to is users. You'd think that a company about to buy you would do a lot of research and decide for themselves how valuable your technology was. Not at all. What they go by is the number of users you have.

Treat a startup as an optimization problem in which performance is measured by number of users.

Number of users may not be the perfect test, but it will be very close. It's what acquirers care about. It's what revenues depend on. It's what makes competitors unhappy. It's what impresses reporters, and potential new users.

If you want to make money, you tend to be forced to work on problems that are too nasty for anyone to solve for free.

Get a version 1.0 out there as soon as you can. Until you have some users to measure, you're optimizing based on guesses.

Naturally wealth had a bad reputation. Two things changed. The first was the rule of law. For most of the world's history, if you did somehow accumulate a fortune, the ruler or his henchmen would find a way to steal it. But in medieval Europe something new happened. A new class of merchants and manufacturers began to collect in towns.10 Together they were able to withstand the local feudal lord.

This was naturally a great incentive, and possibly indeed the main cause of the second big change, industrialization. A great deal has been written about the causes of the Industrial Revolution. But surely a necessary, if not sufficient, condition was that people who made fortunes be able to enjoy them in peace.

I don't predict the demise of object-oriented programming, by the way. Though I don't think it has much to offer good programmers, except in certain specialized domains, it is irresistible to large organizations. Object-oriented programming offers a sustainable way to write spaghetti code. It lets you accrete programs as a series of patches. Large organizations always tend to develop software this way, and I expect this to be as true in a hundred years as it is today.

The problem with working slowly is not just that technical innovation happens slowly. It's that it tends not to happen at all. It's only when you're deliberately looking for hard problems, as a way to use speed to the greatest advantage, that you take on this kind of project. Developing new technology is a pain in the ass. It is, as Edison said, one percent inspiration and ninety-nine percent perspiration. Without the incentive of wealth, no one wants to do it.

Startups are not just something that happened in Silicon Valley in the last couple decades. Since it became possible to get rich by creating wealth, everyone who has done it has used essentially the same recipe: measurement and leverage, where measurement comes from working with a small group, and leverage from developing new techniques. The recipe was the same in Florence in 1200 as it is in Santa Clara today.

Intolerance for ugliness is not in itself enough. You have to understand a field well before you develop a good nose for what needs fixing. You have to do your homework. But as you become expert in a field, you'll start to hear little voices saying, What a hack! There must be a better way. Don't ignore those voices. Cultivate them. The recipe for great work is: very exacting taste, plus the ability to gratify it.

Understanding this may help to answer an important question: why Europe grew so powerful. Was it something about the geography of Europe? Was it that Europeans are somehow racially superior? Was it their religion? The answer (or at least the proximate cause) may be that the Europeans rode on the crest of a powerful new idea: allowing those who made a lot of money to keep it.

Once you're allowed to do that, people who want to get rich can do it by generating wealth instead of stealing it.

With ambition, you tend to get one step below what you aim for. So unless you try to be the best, you won't even be good.

You can't trust the opinions of the others, because of the Blub paradox: they're satisfied with whatever language they happen to use, because it dictates the way they think about programs.

Brand is the residue left as the substantive differences between rich and poor evaporate.

Steve Jobs saved a company that was in a terminal decline. And not merely in the way a turnaround specialist does, by cutting costs; he had to decide what Apple's next products should be. Few others could have done it.

To write good software you must simultaneously keep two opposing ideas in your head. You need the young hacker's naive faith in his abilities, and at the same time the veteran's skepticism. You have to be able to think how hard can it be? with one half of your brain while thinking it will never work with the other.

The way ro really do big things seems to be to start with deceptively small things