PG is wrong about this. In the past it probably was easier to get rich (> $10mm) by starting what he will not call a startup than it is now. Lots of people used

PG is wrong about this. In the past it probably was easier to get rich (> $10mm) by starting what he will not call a startup than it is now. Lots of people used to get rich this way starting small businesses serving the automotive industry (making airbag assemblies and other important things) or providing specialized services to the Oil and Gas industry, etc. These are just examples, there are obviously tons of things like this. And while these opportunities still exist they are much rarer than they used to be. There are many reasons these opportunities are fewer, but I think the main ones are 1. Increased firm size means it is harder to compete since you don't have economies of scale. 2. High labor costs in the US mean many things are not profitable to do in the US, so no small US businesses can engage in them (they have to be big enough to engage overseas manufacturers or savvy enough to negotiate that environment as a small business... again, it can/has been done but it's harder). 3. Higher cost of living in the more dynamic parts of the country make it harder to start a business without getting VC funding, especially if that business requires some amount of R&D before generating revenue.