Senator Stevens and the "goo-goo" types
(Most of) a Stigler classic reprinted and updated

"Starting a Business: It's Never Too Late"

Interesting account of a gentleman, aged 54, who has just started two companies.

Am I too old to be doing this? On the contrary, I think I’m just about the right age. We think of entrepreneurship as being a young person’s game, requiring the brashness and energy of youth. But what I’ve learned over the last 30 years in Silicon Valley is that youthful energy — and this is especially true of today’s Gen Y’s — comes in short bursts and is ill-equipped for the kind of long-term consistency needed to run a modern Web 2.0 social network.

Moreover, an awful lot of that energy — as was the case with my failed start-ups 20 years ago — is wasted on meaningless work. Far better to understand what needs to be done, what decisions must be made and then to just get on with it. That takes experience.