Well, if you've ever had to write a business plan, you'll agree the projections for a startup end up being complete BS, but they make investors feel safe looking at a 20+ page document with lots of charts and numbers.
That said, business plans can be useful and help the founders solidify their business model, predict costs, etc. If anything, it helps you get a vague idea of what to expect a few years down the road instead of just the next 60 days.
No, I'm being serious. Thinking about your business model is useful, and planning is useful, but the formal practice of writing an official "business plan" (with revenue projections, etc.) is from a bygone era. More than anything, business plans give people (in this case, Arch Grants) a false sense of security.
Oh yes I completely agree. New industries move too fast to predict their profitability. I think the resume will go the way of the business model in our lifetime, if not 10 years.
You nailed it. Doing the traditional resume-and-interview grind is OK if you're just getting started, but as soon as possible you should be building and using your personal network. If after gaining some experience you need a resume to get a job, you're probably doing it wrong.
Filling out the YC application thoroughly and thoughtfully will do more to make you think about your business than writing a business plan. You don't have to submit it, but answering the questions as if pg were going to be evaluating it is a great mental exercise!
That said, business plans can be useful and help the founders solidify their business model, predict costs, etc. If anything, it helps you get a vague idea of what to expect a few years down the road instead of just the next 60 days.