[Grokit]

"Founded a successful web apps company back in the 1990s when that wasn't common, and sold it to Yahoo"

While that is awesome, it is a substantially different game we play nowadays than in the 90's.

[theorique]

Correct, and pg is not writing code for startups now, but investing in them, sharing his experience with them (mentoring), connecting them to follow-on investors, and supporting the process of growing those startups in which he has an active interest.

Hence, YC, etc.

[aerique]

You say this like he stopped learning and stopped getting more experienced since the 1990's.