Founder of Y-Combinator about the prospects for startups

The founder of the most famous Y-Combinator business incubator, Paul Graham, expressed his warnings to the founders of startups. All those who are interested in the details can read the source text , for the rest I will briefly outline the essence.

Against the backdrop of the deplorable situation with Facebook's IPO (quite expectedly deplorable, just lazy did not speak about the bubble in this regard), one should wait for the venture investors to cool down regarding new startups. For startups, this means that a) the money will attract more difficult b) the conditions for attracting them will become tougher.
It’s not that the word “startup” could be deleted from the lexicon ... but yes, those who didn’t have time were late. And in Russia, as it happened, almost no one had time: our start-up infrastructure was just beginning to take shape, and it was rather problematic to go for funding in the US for obvious reasons.
The pendulum has once again swung in the opposite direction. How much time will have to wait for a new favorable situation? It is difficult to predict, but when compared with the dot-com bubble, then seven or ten years. In the meantime - kin will not, the electricity is over. Disagree.