What the Bubble Got Right: Paul Graham's happy review of the bubble, from Sept 2004. "When one looks over these trends, is there any overall theme? There does seem to be: that in the coming century, good ideas will count for more. That 26 year olds with good ideas will increasingly have an edge over 50 year olds with powerful connections. That doing good work will matter more than dressing up-- or advertising, which is the same thing for companies. That people will be rewarded a bit more in proportion to the value of what they create. If so, this is good news indeed. Good ideas always tend to win eventually. The problem is, it can take a very long time. It took decades for relativity to be accepted, and the greater part of a century to establish that central planning didn't work. So even a small increase in the rate at which good ideas win would be a momentous change-- big enough, probably, to justify a name like the "new economy.""
My favorite pithy quote: "Nerds tend to eschew formality of any sort. They're not impressed by one's job title, for example, or any of the other appurtenances of authority.. I thought it would be useful if I explained what a nerd was. What I came up with was: someone who doesn't expend any effort on marketing himself." (See also Paul's classic Why Nerds are Unpopular). 10:33:07 PM