Naturally wealth had a bad reputation. Two things changed. … - Paul Graham

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Naturally wealth had a bad reputation. Two things changed. The first was the rule of law. For most of the world’s history, if you did somehow accumulate a fortune, the ruler or his henchmen would find a way to steal it. But in medieval Europe something new happened. A new class of merchants and manufacturers began to collect in towns.10 Together they were able to withstand the local feudal lord.

Paul Graham

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About Paul Graham

Paul Graham (born 1964) is an English computer scientist, essayist, entrepreneur, venture capitalist, and author. He is best known for his work on the programming language Lisp, his former startup Viaweb (later renamed Yahoo! Store), cofounding the influential startup accelerator and seed capital firm Y Combinator, his essays, and Hacker News.

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Naturally wealth had a bad reputation. Two things changed. The first was the rule of law. For most of the world’s history, if you did somehow accumul… - Paul Graham

About Paul Graham

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