Samuel H. "Sam" Altman (born April 22, 1985) is an American entrepreneur, investor, programmer, and blogger. He is the president of Y Combinator and co-chairman of OpenAI.
Most great companies in tech have been built by personal referrals for the first. . . at least 100 employees and often many more.
A lot of people treat choosing their cofounder with even less importance than they put on hiring. Don't do this.
Even though plans themselves are worthless, the exercise of planning is very valuable and totally missing in most startups today.
Once your product is working, switch from not caring about this to caring about this a little bit.
You can't be focussed without really great communication
One of the biggest advantages that start ups have is execution speed and you have to have this relentless operating rhythm.
You need conviction in your own beliefs, and the willingness to ignore others naysaying.
So it's worth some real up front time to think through the long term value and the defensibility of the business.
Obsess about the quality of the product.
Startups are not the best choice for work-life balance, and that's sort of just the sad reality.
You're saying no ninety-seven times out of a hundred, and most founders find they have to make a very conscious effort to do this.
Great execution is at least 10 times more important and a 100 times harder than a good idea.
You should always know how you're doing against your metrics. You should always have a weekly review meeting every week.
Every first time founder waits too long, everyone hopes that an employee will turn around. But the right answer is to fire fast.
Facebook has this famous poster that says move fast and break things. But at the same time they manage to be obsessed with quality.
If you're not in college and you don't know a cofounder, the next best thing I think is to go work at an interesting company.
In YC's case, the number one cause of early death for startups is cofounder blowups.
What you want to do is innovate on your product and your business model, management structure is not where I would try and innovate.
We've seen a lot of data at YC now, and the most successful companies and the ones where the investors do the best. . . end up giving a lot of stock out to employees- year after year after year.
You don't get to make their decisions but you do get to choose the decision makers.