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My simple response is, "Denial is a river in Egypt." Paul Graham is not an impartial observer in this debate. YC (and by extension him) are some of the loudest advocates for the current startup generation. Should a bubble burst around them, YC would stand to loose tremendously in money and prestige regardless of the merits of their individual investments.



The saying is actually "…not just a river in Egypt." The fact that the Nile is a river in Egypt is somewhat less enlightening.


Pointing out that a source has a vested interest in the topic is not the same as explaining why his reasoning is wrong.




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