I found this utterly unconvincing, because I fail to see how many of the examples he cited have anything at all to do with drawing up the actual agreement!<p>More importantly to me, the author completely fails to address the impact of the lawyer cost, which I thought was the biggest point of the original article. That extra $10k in lawyer fees can make or break a young company.
The fundamental problem with anyone providing professional services is that most people are not able to tell the good, competent, up to date people from the well intentioned but not totally with it people.<p>This goes across the legal, financial, computer, medical, engineering and all other technical professions.<p>I'm sure some lawyers are worth $5k or even far far more. The problem is telling if the one you've got one that worth it, or you're working with the wrong person.<p>Thus why PG's focus is on people, not on ideas, when picking for Y Combinator. Finding good people is hard.