A data point about rewriting: the last essay I wrote (http://paulgraham.com/richnow.html ) took 27 days to write, and only one sentence in the final version is the same in the first draft.
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Which sentence survived?
"Fast growth has a double effect on the value of founders' stock."
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The velocity premium
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That's normal we always overestimate the change that will occur in the short term and underestimate the change that will occur in the long term
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