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How to Build the Future with Sam Altman

ycombinator.com

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Re: How to Build the Future with Sam Altman

#81

Post by kasey_junk »

Reedx wrote: post #61
Alupis wrote: post #49

Earlier quoted context omitted.

> Reddit's last round valued them at $500 million > That's a successful company by any standard. Simply being "valued" at some dollar amount doesn't actually mean success. Revenue and positive net profit mean success...

What if Reddit is around for 50 years, paying dozens of employees the whole time while never making a net profit. Would that not be a successful company to essentially everyone? (except the investors)

No. That would be a very unsuccessful company.

Re: How to Build the Future with Sam Altman

#82

Post by mbesto »

rhizome wrote: post #73
mbesto wrote: post #63

Earlier quoted context omitted.

It might be "successful" (however you define that), but $8.3M in Revenue in 2014 (and an estimated $10M in 2015) on $50M in investment (not including Conde Naste's investment) in a 10 year period for a company valued at $500M and the 25th most visited site, seems like it's under-performing.

Underperforming relative to what standard?

Underperforming versus it's competitors. I know of several websites that do 1/1000th of the traffic and have similar, if not better revenue.

Re: How to Build the Future with Sam Altman

#83

Post by anexprogrammer »

Alupis wrote: post #70
npezolano wrote: post #31

Earlier quoted context omitted.

I find you learn the most from mistakes, either your own or from others.

> either your own or from others. If people honestly learned from the mistakes of others - I assert there'd be an awful lot fewer mistakes.

and parenting would be so much easier.

It's painful knowing they won't learn something until they do the same stupid thing themselves.

Re: How to Build the Future with Sam Altman

#84

Post by iamgopal »

askafriend wrote: post #75
sama wrote: post #20

Earlier quoted context omitted.

I turned out to be a better investor than an entrepreneur (though somewhat to my surprise running YC is more about running a company than being an investor). I think I've learned a lot from working closely with entrepreneurs that run massively successful companies that's worth sharing. If you disagree, no one is making you watch this. You're free to hit the back button.

The parent comment asked a very valid question and I believe your third line was entirely un-necessary. I think you took it a little too personally and ironically if anyone else would have made such a comment, it would be flagged or downvoted into oblivion. Look at it this way: if you're a musician and you're looking up to people for inspiration or advice to make great, interesting music - do you look to Kanye West o…

In Indian film industry a famous director called Subhash Ghai usually make eccentric movie with fantastic songs. Songs are usually made by music director and their selection as per the movie and special recommendations comes from movie director only. I think he should be given credit for better ears and selection capacity as I have seen same music directors failing horribly on other movies. So even if Subhash Ghai can not make good music by himself, aspiring music composer will always goes to him for recommendations.

Re: How to Build the Future with Sam Altman

#85

Post by bexp »

flyosity wrote: post #15

I'm sure this will get downvoted into oblivion, but why should I or other engineers/entrepreneurs look at Sam Altman as a massive startup success story when his lone startup Loopt never really achieved product-market fit, and ended up in a firesale? Across 5 funding rounds, Crunchbase lists Loopt as having raised $39 million and then was acquired (acqui-hired?) for $43 million. He didn't create any multiples of value…

Agree with above, Sama puts himself into same bucket of people as Zuck and Musk in how to build future series. What he has build so far ? Happened to be a VC partner sitting on huge pile of cash, distributing it to bunch of YC applicants ? I could see Paul Graham as YC founder takes some credit for creating all YC unicorns, Sam is just one of many partners in VC firm, nothing outstanding though.

Re: How to Build the Future with Sam Altman

#86

Post by Reedx »

Alupis wrote: post #69
Reedx wrote: post #61

Earlier quoted context omitted.

What if Reddit is around for 50 years, paying dozens of employees the whole time while never making a net profit. Would that not be a successful company to essentially everyone? (except the investors)

If all your business does it extract money from investors and deposit it into employee's pockets (and never generates self sustaining revenue, let alone turn profits), I think we'd call that a charity, more than anything.

Yeah, I should have been clearer - the assumption is that it would have self sustaining revenue at some point (I can't imagine many investors would keep putting $ into it after 50 years). It would just be a break even business.

That's why I would say it's a success to everyone but the investors who never got their payday.

Re: How to Build the Future with Sam Altman

#87

Post by rer »

askafriend wrote: post #75
sama wrote: post #20

Earlier quoted context omitted.

I turned out to be a better investor than an entrepreneur (though somewhat to my surprise running YC is more about running a company than being an investor). I think I've learned a lot from working closely with entrepreneurs that run massively successful companies that's worth sharing. If you disagree, no one is making you watch this. You're free to hit the back button.

The parent comment asked a very valid question and I believe your third line was entirely un-necessary. I think you took it a little too personally and ironically if anyone else would have made such a comment, it would be flagged or downvoted into oblivion. Look at it this way: if you're a musician and you're looking up to people for inspiration or advice to make great, interesting music - do you look to Kanye West o…

I'm trying to be an objective observer here.

My text classification software marked the third line as the most authentic, most truthful line.

Huh.

Re: How to Build the Future with Sam Altman

#88

Post by jonknee »

Reedx wrote: post #86
Alupis wrote: post #69

Earlier quoted context omitted.

If all your business does it extract money from investors and deposit it into employee's pockets (and never generates self sustaining revenue, let alone turn profits), I think we'd call that a charity, more than anything.

Yeah, I should have been clearer - the assumption is that it would have self sustaining revenue at some point (I can't imagine many investors would keep putting $ into it after 50 years). It would just be a break even business. That's why I would say it's a success to everyone but the investors who never got their payday.

> That's why I would say it's a success to everyone but the investors who never got their payday.

Yes, so it would not be a successful venture backed company. Lifestyle businesses are fine if you pay for them. When someone else invests and expects a return you need to provide a return to be successful.

Re: How to Build the Future with Sam Altman

#89

Post by jonknee »

bexp wrote: post #85
flyosity wrote: post #15

I'm sure this will get downvoted into oblivion, but why should I or other engineers/entrepreneurs look at Sam Altman as a massive startup success story when his lone startup Loopt never really achieved product-market fit, and ended up in a firesale? Across 5 funding rounds, Crunchbase lists Loopt as having raised $39 million and then was acquired (acqui-hired?) for $43 million. He didn't create any multiples of value…

Agree with above, Sama puts himself into same bucket of people as Zuck and Musk in how to build future series. What he has build so far ? Happened to be a VC partner sitting on huge pile of cash, distributing it to bunch of YC applicants ? I could see Paul Graham as YC founder takes some credit for creating all YC unicorns, Sam is just one of many partners in VC firm, nothing outstanding though.

> Sam is just one of many partners in VC firm, nothing outstanding though.

He is the President.

Re: How to Build the Future with Sam Altman

#90

Post by Gatsky »

flyosity wrote: post #15

I'm sure this will get downvoted into oblivion, but why should I or other engineers/entrepreneurs look at Sam Altman as a massive startup success story when his lone startup Loopt never really achieved product-market fit, and ended up in a firesale? Across 5 funding rounds, Crunchbase lists Loopt as having raised $39 million and then was acquired (acqui-hired?) for $43 million. He didn't create any multiples of value…

I think the answer is pretty obvious - the advice that successful people give is almost universally useless. The more down to earth less egotistical ones accept this, and don't give out specific advice (eg Warren Buffet, or Bill Gates). But others can't help it. Your premise that we should listen to only the very successful is not well based in that regard.

From first principles, if you were looking for someone to give startup advice, then you want someone who has: been through the process; doesn't suffer from survival bias which just elevates all the random things they did and weird habits they have to some kind of mystical formula; has seen many other people go through the process from the very early to late stages. That's why you should listen to Sam Altman. If you want to worship mega-entrepeneurs then there are many other avenues for that activity.

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