Paul Allen has some useful advice:

I'm reading a book that Tim Sanders recommended, Never Eat Alone. The author claims that no one succeeds alone and that the key to success in business is generosity. He says the most important thing we do in business and in life is form relationships. Which is why I can't understand how so many people meet so many other people and don't exchange business cards or contact information. The author has a Palm with 5,000 people who will all return his calls. Life is about who you know. The richness of life comes from relationships. I didn't figure this out until a couple years ago when I read Love is the Killer App and started thinking more about people than about how many hours of computer time I could fit in each day. After Never Eat Alone I'm going to read the Likeability Factor by Tim Sanders. And a friend of mine has written a book on relationships as well.

Big question: how do you teach that relationships matter most? When you interview someone for a job, do you ever ask how many solid relationships they have, or what experts they know, or how they build their social network?

Paul Graham writes that hiring is obsolete.

The three big powers on the Internet now are Yahoo, Google, and Microsoft. Average age of their founders: 24. So it is pretty well established now that grad students can start successful companies. And if grad students can do it, why not undergrads?

Like everything else in technology, the cost of starting a startup has decreased dramatically. Now it's so low that it has disappeared into the noise. The main cost of starting a Web-based startup is food and rent. Which means it doesn't cost much more to start a company than to be a total slacker. You can probably start a startup on ten thousand dollars of seed funding, if you're prepared to live on ramen.

The less it costs to start a company, the less you need the permission of investors to do it. So a lot of people will be able to start companies now who never could have before.

The most interesting subset may be those in their early twenties. I'm not so excited about founders who have everything investors want except intelligence, or everything except energy. The most promising group to be liberated by the new, lower threshold are those who have everything investors want except experience.