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To get the very best people- they have a lot of great options, and so it can easily take a year to recruit someone.
Sam Altman
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Sam Altman
Age: 39
Born: 1985
Born: April 22
Entrepreneur
Chicago
Illinois
Samuel H. Altman
Samuel Altman
Someone
Best
Take
Great
Recruit
Years
Options
People
Easily
Team
Year
More quotes by Sam Altman
The hard part is that this is a very fine line. There's right on one side of it, and crazy on the other.
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The other piece besides focus for execution is intensity. Startups only work at a fairly intense level.
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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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... 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.
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Startups are not the best choice for work-life balance, and that's sort of just the sad reality.
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The track record for founders that don't already know each other is really bad.
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You need to figure out what the 2 or 3 most important things are, and then just do those.
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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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You should think about for the next 10 years, you're going to be giving out 3-5% of the company every year.
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The natural state of a start-up is to die most start-ups require multiple miracles in their early days to escape this fate.
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We talk to a team they've gotten new things done, that's the best predictor we have that a company will be successful.
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If it works out, you're going to be working on this for 10 years.
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... you can think about that for everyone you hire: will I bet the future of this company on this single hire? And that's a tough bar.
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If you want something in a deal, just ask for it.
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Or a way to stay on strangers couches, that just sounds terrible all around.
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If you don't need it yourself, and you're building something that someone else needs, realize you're at a big disadvantage.
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I think as a rough estimate, you should aim to give about 10% of the company to the first 10 employees.
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When it comes to starting startups, in many ways, it's easier to start a hard startup than an easy startup.
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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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No matter what you choose, build stuff and be around smart people.
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