Paul Graham Says the Most Underpriced Startup Opportunity Is Not AI

The Y Combinator co-founder's contrarian take — that non-AI ideas are underpriced while AI is crowded — sparked intense debate about where real founder alpha lives right now.

Paul Graham posted what might be the most contrarian founder advice of the quarter: while AI is the biggest opportunity, the most underpriced opportunity is probably non-AI ideas. As @paulg wrote, the implication is clear — the AI gold rush has created a pricing distortion where every AI startup is overvalued and every non-AI startup is underloved.

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