Seth Levine, a managing director with venture capital firm Foundry Group, asks this question in an October 13th commentary appearing on CNNMoney.
In his piece, Levine recounts his reactions during a pitch meeting for a social networking related business. The presenters were three entrepreneurs, all in their late 40s or early 50s and dressed in suits. “Certainly there is some amount of age bias in venture. Early stage tech is considered somewhat of a young person’s game,” Levine writes. “And while I’ve worked with many very experienced entrepreneurs who were and are fantastic, I wonder if the initial pangs of question I felt on entering a room with three, middle-aged guys in suits pitching me their business plan is something that is deeper than a momentary hesitation.”
The full commentary can be found here.
Late Blooming Entrepreneurs 
I would hope that good businessmen can recognize good business. Although, I am in my 60’s, I find it interesting that for whatever reasons, I have endured, in teaching young people.
I bet you’re well liked by your students — and they care more about what they get out of your class, rather than how old you might be. A win-win situation!