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If you pivot, do it fully and with conviction. The worst thing is to try to do a bit of the old and the new-it's hard to kill your babies.
Sam Altman
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Sam Altman
Age: 39
Born: 1985
Born: April 22
Entrepreneur
Chicago
Illinois
Samuel H. Altman
Samuel Altman
Kill
Baby
Bits
Worst
Hard
Pivot
Thing
Babies
Trying
Conviction
Fully
More quotes by Sam Altman
The cost of getting an early hire wrong is really high.
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... but the pendulum has swung way out of whack here. A bad idea is still bad, and the pivot happy world we're in today feels suboptimal.
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Founders are usually very stingy with equity to employees and very generous with equity to investors. I think this is totally backwards.
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What being a founder means, is signing up for this years long grind on execution - and you can't outsource this.
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A small communication breakdown is enough for everyone to be working on slightly different things. And then you loose focus.
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When lack of structure fails, it fails all at once. What works totally fine from 0-20 employees, is disastrous at 30.
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Most founders have not managed people before, and they certainly haven't managed managers.
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Why now, why is this the perfect time for this particular idea, and to start this particular company?
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Long term thinking is so rare anywhere, but especially in startups. This is a huge advantage if you do it.
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You can create value with breakthrough innovation, incremental refinement, or complex coordination. Great companies often do two of these. The very best companies do all three.
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Companies that I've been very involved with, that have had a very bad first hire in the first 3 or so employees never recover from it.
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Starting a business is like riding a wave between life and death. If you can hang on long enough, you're bound to succeed
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If you compromise and hire someone mediocre you will always regret it.
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The most important thing is that there is clear reporting structure and everyone knows what it is.
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Unfortunately the trick to great execution is to say no a lot.
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The role of the board is advice and consent. If the CEO does not lay out a clear strategy and tries to get the board to set one, it will usually end in disaster.
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You think you have this great idea that everyone's going to come join, but that's not how it works.
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Aim to be the best in the world at whatever you do professionally. Even if you miss, you'll probably end up in a pretty good place.
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You have to save the vision speeches for when the company is winning. When you're not winning, you just have to get momentum back.
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The biggest PR hack you can do, is not hire a PR firm.
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