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I thought I had read something you wrote once (5. Most investors are momentum investors. from http://paulgraham.com/guidetoinvestors.html http://paulgraham.com/
by bchjam 13y ago
I thought I had read something you wrote once (5. Most investors are momentum investors. from http://paulgraham.com/guidetoinvestors.html http://paulgraham.com/guidetoinvestors.html) implied that investor demand increases the volume of the more shallow type of copycat.
- pg 13y agoA momentum investor is one who wants to invest in companies that are doing well, not one who wants to invest in imitators of companies that are doing well. Investors are herd animals, but they're not the reason mediocre founders copy existing ideas. Mediocre founders copy existing ideas for the same reason mediocre people in so many other fields do: they're insufficiently imaginative.
- gress 13y agoWith all due respect I think you're underestimating the effect of investors. Insufficiently imaginative people do exist everywhere but they don't get to become founders and hire people to copy existing ideas unless someone funds them.