The track record for founders that don't already know each other is really bad.
You never want to be in a place where an employee has vested 3 out of the 4 years of stock and they start thinking about leaving.
Starting a business is like riding a wave between life and death. If you can hang on long enough, you're bound to succeed
Many of the best YC companies have had phenomenally small number of employees for their first year, sometimes none besides the founders.
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 should always know how you're doing against your metrics. You should always have a weekly review meeting every week.
It's easy to move fast or be obsessed with quality, but the trick is you have to do both at a startup.
Investors will sort of like write the check and then, despite a lot of promises, don't usually do that much; sometimes they do.
If you ever take your foot off the gas pedal, things will spiral out of control, snowball downwards.
Founders are usually very stingy with equity to employees and very generous with equity to investors. I think this is totally backwards.
Whatever the founder cares about, whatever the founders think are the key goals, that's going to be what the whole company focusses on.
Growth solves (nearly) all problems
Every company has a rocky beginning.
You need to have a culture where people have very high quality standards in everything the company does, but still move quickly.
Share results (financial and key metrics) with the company every month.
... and you can only have 2 or 3 things everyday, because everything else will just come at you; you know fires in a day.
Most startups are not nearly focussed enough. They work hard...maybe, but they don't work hard on the right things.
... if you talk to say any of the first 40 or 50 employees, they all feel like they were a part of the founding of the company.
If it works out, you're going to be working on this for 10 years.
If you want something in a deal, just ask for it.
It's better to have a few users love your product than for a lot of users to sort of like it.
There's at least a hundred times more people with great ideas than people that are willing to put in the effort to execute them well.
Growth and momentum are what a startup lives on and you always have to focus on maintaining these.
We talk to a team they've gotten new things done, that's the best predictor we have that a company will be successful.
Momentum and growth are the lifeblood of startups. This is probably in the top three secrets of executing well.
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