Question to Paul: First of all I've to tell you I'm a big fan of all your essays. But a lot of things which you say in your essays seem to work really well only

Question to Paul: First of all I've to tell you I'm a big fan of all your essays. But a lot of things which you say in your essays seem to work really well only if you're developing Web 2.0 sites. Version 1 of any Web 2.0 app can be built with 3 people in 3 months with very less capital needs (especially if the founders are fresh grads, all you need to do is to feed them for the three months). So as an investor, I would assume that you don't have to care much about revenue models, business experience & age of the founders, etc because in the event the startup tumbles, you don't stand to lose a lot? But what about bigger projects? Projects which need maybe 10 people working for an year? Hardware? Would your views change when you are asked to invest in projects of these kind? The reason I ask is because I'm a final year CS student in Singapore and I've developed a 360 degree video camera along with a couple of my friends and we've been talking to a lot of angel investors here. They all love the idea and are amazed by the demo but most of the time their major cause of concern is that we don't have business experience and we're very young (21). How would you evaluate an idea like this one (hardware+software)? Would you be interested in seeing something like this sent to YC? Or do you prefer sticking to web 2.0 sites?