The thing that this misses is the value of craftsmanship and the time that it takes to develop that increases based on the difficulty of the domain AND how long that domain has existed.

Brand new industries don’t have depth, and may not even have high difficulty and so starting a SAAS business or Social Media startup 2008-2014 was easy from a technical point of view

The difficult in it being a ‘startup’ was more about business execution than building execution. And luck of course. Hence Harvard students applying to become founders

Now the craftsmanship involved in building novel solutions in complex domains that are not new requires deep knowledge.

Hence PHDs and Postdocs, which are projects, but projects that rely on existing knowledge.

Paul thinking of founders being a replacement for grad school is a result of his experience building startups in low complexity novel industries with large financial upside.

That’s not what a nation needs to move itself forward. It is what VCs need to generate alpha, and so you’ll see exploration in novel low complexity industries with large financial upside, and not hard science - so Harvard grads make sense.

This idea that ‘builders’ are ‘builders’ misses the need for craftsmanship and apprenticeship

Take solar or battery technology — that requires deep knowledge of materials and chemistry that you don’t get from an undergrad. And why ASML didn’t get built in the US. Or why TSMC exists in Taiwan

They lead because of a devotion to depth of expertise - not becoming a billionaire

So again, if you want sustainable hugely profitable 0-1 companies you better hope for a monopoly business, and why lobbyiny government to protect your rents is a faster alternative to PHDs, Postgrads, and long term industrial policy