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Why Smart People Have Bad Ideas

November 20, 2005

Why do smart capable hackers fail so often when they try to create business ventures? Paul Graham identifies three things from his first failed company, Artix.

“We did the first thing we thought of; we were ambivalent about being in business at all; and we deliberately chose an impoverished market to avoid competition.”

The main problem is that they tend to create things that people don’t want. There are many open problems that need solutions and have waiting customers. What’s missing is the ability to seek out these problems.
Date Read: Sept., 10, 2005

Source: http://www.paulgraham.com/bronze.html’

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