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.
If you can just learn to think about the market first, you will have a big leg up on most people starting startups.
Momentum and growth are the lifeblood of startups. This is probably in the top three secrets of executing well.
So if you want a culture where people work hard, & pay attention to detail, focus on the customer, are frugal: you have to do it yourself.
Founders are usually very stingy with equity to employees and very generous with equity to investors. I think this is totally backwards.
Great execution is at least 10 times more important and a 100 times harder than a good idea.
Good startups usually take 10 years.
AirBnB spent 5 months interviewing their first employee, before they hired someone and in their first year, they only hired 2 people.
Obsess about the quality of the product.
Everyone starting a startup for the first time is scared, and everyone feels like a bit of an imposter.
As you grow, it feels hopelessly corporate but it really is worth putting in place these compensation bands.
You have to let your team get all the credit for all the good stuff that happens, and you take responsibility for the bad stuff.
One thing I tell startups all the time is that the best way to grow is to make their product better.
A small communication breakdown is enough for everyone to be working on slightly different things. And then you loose focus.
You also want people who are maniacally determined and that is slightly different than having a risk tolerant attitude.
You want to sound crazy, but you want to actually be right.
One of the great and terrible things about starting a start up is that you get no credit for trying.
I really believe that the single hardest thing in business is building a company that does repeatable innovation. . . and just has this ongoing culture of excellence as it grows.
Be suspicious of any work that is not building product or getting customers.
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.
Be suspicious of any work that is not building product or getting customers. It's easy to get sucked into an infrastructure rewrite death spiral.