> A) Maybe the most important is time. You need time in a good environment to actually develop something. Which has become a lot more costly. I think another w

> A) Maybe the most important is time. You need time in a good environment to actually develop something. Which has become a lot more costly. I think another way to say this is that the value of time has fallen as the amount of funding available has risen. The prototypical hacker working nights and weekends was a _response_ to the lack of available capital: work harder if you can't hire. Its like an arms race. Two hackers of equal aptitude start working 120 hours weeks on identical startups targeting similar markets. The one who stops doing that and instead raises a few million to hire a large team and spend lots of marketing dollars is going to win that market (though it may be less profitable). As more funding chases fewer projects, that point moves earlier and earlier in the process until only a fool would spend 120 hours a week instead of raising money right from the beginning.