Paul Graham goes to extra lengths to differentiate startups vs other type of business: it's all about growth.
So this essay talks about startups under the YC brand, I assume we're talking about hi-growth business, not small and medium ones that have no goals to grow double digits every month.
Finally, we should stop adding a condescending "lifestyle" qualififier to businesses that are not trying to become a unicorn. It is most businesses actually.
@pg has the right to try and define things however he wants, but he isn't the final arbiter of meanings of words in the English language. I see no reason to suggest that a company isn't a "startup" just because they aren't pursuing "double digit growth every month". There are plenty of ways to get big, and "slow and steady" is still one.
It's also important to realize that a company's growth rate will vary at times throughout its lifetime. You might start out as completely self-funded, bootstrapping, and work very slowly for some period of time, only to reach a certain point and say "OK, now its time to turn on the afterburners and go seek VC / PE money". And as a company matures (hello, Microsoft, IBM, CA, HP, etc.) its pretty close to inevitable that the growth rate will slow down.
The important thing is just to do what makes sense for where you are and what your goals are.
If someone wants to start a business and call it lifestyle, great for them. It usually tells their business is not all their is in their life, and that's great.
When someone else calls a business "lifestyle" just because it is small, i believe it is condescending.
If I called the CEO of the 20-employees plumbing company i sometimes use, and asked him "how's your lifestyle business doing?" he would probably hang up on me.
So this essay talks about startups under the YC brand, I assume we're talking about hi-growth business, not small and medium ones that have no goals to grow double digits every month.
Finally, we should stop adding a condescending "lifestyle" qualififier to businesses that are not trying to become a unicorn. It is most businesses actually.