"next big thing looks like a toy" era is dead

the software industry is mature and requires big shots on goal to win

incumbents can't win because of risk aversion and process rot

so rounds get way bigger, founders respond by optimizing for status

yc becomes a cute memory...

above is tongue and cheeck

i'm a believer in small teams with conviction as being universally impactful

Corollary: the next generation of “true” startups will look and feel very different

yc seems to be making a lot of moves from software and into hardware.