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How to Succeed with a Startup [video]

blog.ycombinator.com

21–30 of 83 posts

Re: How to Succeed with a Startup [video]

#21

I find Sam Altman's advice on startup completely and utterly useless. They're akin to the "How to become a millionaire" books. I've said this in the past [1] that providing generic advice doesn't work for startups. Every company is unique and they have unique challenges. Instead, Sam should be focusing on bringing stories of various startups in light, interview their founders and have a focused discourse on what work…

I tend to agree. The more experience I gain in running startup companies the more I believe the recipe for success is 1) show up 2) work hard 3) get lucky. And #3 is super important.

Re: How to Succeed with a Startup [video]

#22

I find Sam Altman's advice on startup completely and utterly useless. They're akin to the "How to become a millionaire" books. I've said this in the past [1] that providing generic advice doesn't work for startups. Every company is unique and they have unique challenges. Instead, Sam should be focusing on bringing stories of various startups in light, interview their founders and have a focused discourse on what work…

I want more stories from Loopt. It was ahead of its time and I know he learned a lot from his time as a startup CEO (before joining YC) that we rarely hear about.

Re: How to Succeed with a Startup [video]

#23

- Be raised rich and or be surrounded by the rich/powerful(Elizabeth Holmes, Evan Speigel, etc...) - Have rich & powerful friends directly or indirectly - Impress & become friendly with the rich & powerful either through clear data that shows your worth an investment(your startup data shows traction) or lie your butt off; aka fake it before you make it. I always strive(d) for the former as darn my parents and the mor…

The tone of your comment is off, but the underlying point has at least some merit.

Re: How to Succeed with a Startup [video]

#24

I find Sam Altman's advice on startup completely and utterly useless. They're akin to the "How to become a millionaire" books. I've said this in the past [1] that providing generic advice doesn't work for startups. Every company is unique and they have unique challenges. Instead, Sam should be focusing on bringing stories of various startups in light, interview their founders and have a focused discourse on what work…

Amen. This barely (if at all) applies to enterprise startups ("make something people want to tell their friends about" doesn't run up against internal decision-making and budgets very well... and "something that's easy to explain" is something that's only relevant in the right industry) and doesn't apply at all to startups in particular industry sectors, government-oriented, or even many hardware oriented ones.

This applies to a subset of Silicon Valley-style, hyper consumer oriented, VC-backable startups that at the end of the day, are fairly interchangeable.

Re: How to Succeed with a Startup [video]

#25
post #23

- Be raised rich and or be surrounded by the rich/powerful(Elizabeth Holmes, Evan Speigel, etc...) - Have rich & powerful friends directly or indirectly - Impress & become friendly with the rich & powerful either through clear data that shows your worth an investment(your startup data shows traction) or lie your butt off; aka fake it before you make it. I always strive(d) for the former as darn my parents and the mor…

The tone of your comment is off, but the underlying point has at least some merit.

Pardon if it comes off jaded, but what I note is very true. I’m in no way trying to impress Sam Altman like i gather some others may be.

No idea his background... yet did he not go to an Ivy League school?

Re: How to Succeed with a Startup [video]

#27
I'll counter with some more basic and more broadly applicable advice.

1) Build a product people actually want and need and will pay money for

2) Promote yourself incessantly because others will be promoting themselves even more incessantly.

3) Spend your money wisely - focus on people, product, and marketing. Don't waste your money on office trappings and stuff that makes you feel good. Save your lunch money.

4) Ignore Venture Capital. If you are actually selling something people want, you can grow on revenues. If it takes a lot of money to create what your customers want or if your growth is greater than revenue, then the VCs will want to talk to you anyways. Because a) you're growing and b) customers actually want what you have. But don't start by focusing on what VCs want. Focus on what your customers want instead.

5) Always be selling. To your customers. To the press. To your employees. To anyone who matters. Never stop talking about your company.

6) Always be listening. To your customers. To your employees. The easiest and best ideas come from others.

7) Re-invest. Plow your earnings back into the company and promotion.

8) It's ok not to have a competitive advantage. What? Ok maybe you need to have some advantage but it doesn't have to be nearly as significant as is stated in this video. You need to have some reason for your customers to buy your product or service instead of competitors', so there's always some advantage. It could be price. Features. better service. But it could also be just a better connection with your prospects. Or perhaps you manage to place yourself in the right place at the right time. Or maybe you're just spending a lot on marketing. If you want to be successful, you need to identify at least one FAIR competitive advantage that your customers care about. And if you want to be super successful, identify one UNFAIR competitive advantage that locks out the competition. That could be an exclusive partnership, some intellectual property advantage, or connections with your customers that your competitors can't easily obtain.

This applies no matter if you're running a silicon valley style startup or a cybersecurity enterprise-focused government client startup -- both can make you millions or billions.

Re: How to Succeed with a Startup [video]

#28

I find Sam Altman's advice on startup completely and utterly useless. They're akin to the "How to become a millionaire" books. I've said this in the past [1] that providing generic advice doesn't work for startups. Every company is unique and they have unique challenges. Instead, Sam should be focusing on bringing stories of various startups in light, interview their founders and have a focused discourse on what work…

There's a book "founders at work" by Jessica Livingston. The technology is old but some stories are amazing like Steve Wozniak one. I like to listen to one story to my way to school/gym. If there isnt audible one (I don't use) avoid cognitive ease and use a text to speech.(1).

(1) apps like eReader on Android have function for TTS. Cognitive ease is a bias and can be avoided changing to make a little difficult. Like harder font to read etc.

Re: How to Succeed with a Startup [video]

#29

I find Sam Altman's advice on startup completely and utterly useless. They're akin to the "How to become a millionaire" books. I've said this in the past [1] that providing generic advice doesn't work for startups. Every company is unique and they have unique challenges. Instead, Sam should be focusing on bringing stories of various startups in light, interview their founders and have a focused discourse on what work…

I sort of disagree in one important sense: all generic advice is pretty useless.

How to succeed in sports? practice, focus, take care of your diet and health

How to succeed in a large company? keep your boss happy, work hard, focus

etc

This is not Altman's fault. I don't think the videos can -- or are supposed to -- replace actual detailed daily advice on struggles which, presumably, you get if you join Ycombinator.

I don't think that "focusing on bringing stories of various startups to light" is all that different from what he is doing. The same criticism applies: it is their story not yours.

And the same caveat applies: it is a sample of the kind of advice you will get.

Re: How to Succeed with a Startup [video]

#30
post #23

Earlier quoted context omitted.

The tone of your comment is off, but the underlying point has at least some merit.

Pardon if it comes off jaded, but what I note is very true. I’m in no way trying to impress Sam Altman like i gather some others may be. No idea his background... yet did he not go to an Ivy League school?

No, he didn't go to an Ivy League school.
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