lets be honest, about 10% of the work of the startup is exciting. the other 90% is pure drudgery, and that's part of the reason why some people opt to work for a large corporation.
I restrict myself to hiring kids with a solid CS degree from a good university, not because I think other people are incompetent or because those people are competent. I think, at the end of the day, especially for a startup, I want to be sure that I dont end up with a fly-by-nighter or with a person unable to keep focused on the task at hand for months at a time.