From what I see, looking at older people who have started companies, the most important aspect is building a strong network. This is useful in three ways:
1. Identifying problems. When you have a large network, you have many opportunities to identify real problems faced by real people. These are great opportunities to start a business.
2. Nepotism. Many close associates in your network will blindly trust and use your product in whatever capacity their position allows if it meets even a small need of theirs. It's sad, but it's true.
3. Referrals. Your network can give refer your company to others outside your network who may be in need of similar solutions. Referrals aren't as easy to sell as a close associate in your network, but the chance to sell is often a great opportunity that wouldn't otherwise be available without a great network.
A lot of truth in this: '...young founders are more financially constrained than more experienced ones, leading them to cede upside to investors at a lower price. In other words, younger entrepreneurs may be a better “deal” for investors than more experienced founders.'
Don't think it's true. Older people generally have more responsibility to their family, and it's hard for them to give the life they have to found a startup.
