Paul GrahamVerified account

Yes, the pie has grown, but some slices have grown much faster than others. And the idea that this is due to the special merit of those getting a bigger slice rather than to changes in the system is quite self-serving.

It's due to both. The reason founders get so much richer is that it's easier to start a company that grows fast. That's a change in the system. But as someone whose job it was to find them, I can tell you the sort of people who can start these companies are rare.

I don't think it's easier to start a company that grows fast and is profitable. Very few seem to be able to pull that off. What has changed is the ability of people who grow big companies that have no business model to walk away with large amounts of money. That's the change.