One paradox is that a failure at the right point in time may give one the motivation they need to succeed.
For example, a person applies to YC. They get rejected and use that as incredible motivation to succeed in spite of that. If they had been selected, would they still have had that motivation?
If you don't think Facebook is a fad, ask if you can really see Facebook being around in 20 years. I certaintly can't. It is a fad, just one that may take some time to run out.
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