>Hire good people and give them room to do their jobs. Sounds great when it's described that way, doesn't it? Except in practice, judging from the report of founder after founder, what this often turns out to mean is: hire professional fakers and let them drive the company into the ground.
Not to be that guy but if you're hiring fakers than you're not hiring good people to do their jobs.
The reason why you can't hire good people is because they don't care about money, and from what I've seen bringing money into the equation actively drives them away.
This is not something that a company like YC wants to hear because it means that their whole raison d'etre is flawed. I'm willing to bet that if the Paul Graham who wrote On Lisp met the Paul Graham who wrote this article, he would have some pointed questions about what went so spectacularly wrong in his career that he sold out so completely.
God knows that the me from 10 years ago would have similar questions and he'd be deeply unhappy about the answers.