WSJ interview with Paul Graham [video]

I like this interview because I was in a really good mood when Peter shot it. The startups had just finished the second (of three) demo day sessions, and they had all just nailed their presentations. I was so relieved. You can see from their body language in the background that they're all happy too.

And to think Paul Graham initially resisted investing. He seems to know this stuff so well it seems natural.

How does the "no soup" provision work in legal terms? How do you (pg and co) ensure you don't get diluted in future rounds?

Heh, "no soup for you!"

Awesome: "Judging by the reactions of the investors, the recession seems to be over."

That was nice. Although, the interviewer just talked too much. A good journalist knows how to get out of the way.<p>I have a question for pg, if he is reading this. You said that about 70% of the companies exit YC with funding or do not need further funding because they are already bringing in money. Do you usually return your investment at this point, or do you wait until a later VC round, or do you generally wait to the point where the founders cash out to return your investment?