Yet with the high rents and the lack of universal healthcare it takes a crazy person to take such a risk. I personally will start my startup from abroad when the time is right.
It's also easier to hire employees since they're all in SV.
Do investors not also want (competent) exceptions that stand out?
Others are having a midlife crisis and want to be your new rich dad, or they want a cult leader who makes them feel smart and throws cool insider parties. In this case it helps to be a white guy or at least Elizabeth Holmes.
One would hope YC is the first since we’re on their website, but having read pg’s essays and noticed his advice for startups is half post hoc fallacies (“use Lisp because I did”) and half is unethical (“don’t hire women or people with accents to get culture fit”) I dunno.
There's your salary. If the company works out or not later, well, you're a founder and has the experience, it's easier to get a job anywhere.
It takes a rich person to take such a risk, but yay, meritocracy!