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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.
Sam Altman
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Sam Altman
Age: 39
Born: 1985
Born: April 22
Entrepreneur
Chicago
Illinois
Samuel H. Altman
Samuel Altman
Think
Founders
Thinking
Backwards
Investors
Employee
Generous
Totally
Stingy
Usually
Equity
Team
Employees
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Cofounder relationships are among the most important in the entire company.
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Firing people is one of the worst parts of running a company. Actually in my own experience, I think it is the worst.
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Losing focus is another way that founders get off track.
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... fire fast when it's not working. It's better for the company, it's also better for the employee.
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Later, you should learn to hire fast and scale up the company, but in the early days the goal should be not to hire. Not to hire.
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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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If you have several ideas that all seem pretty good, work on the one that you think about, when you're not trying to think about work.
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... and you can only have 2 or 3 things everyday, because everything else will just come at you you know fires in a day.
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A board member of mine used to say sales fix everything in a startup, and that is really true.
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I believe in fighting with investors to reduce the amount of equity they get and then being as generous as you possibly can with employees.
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Some day everyone will find out everyone else's comp, if it's all over the place, it will be a complete meltdown disaster
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So always keep momentum, it's this prime directive for managing a startup.
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One of the great and terrible things about starting a start up is that you get no credit for trying.
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These all sounded really bad, but they turned out to be good. If they had sounded really good, there would have been too many people working on them.
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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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I really believe that the single hardest thing in business is building a company that does repeatable innovation... and just has this ongoing culture of excellence as it grows.
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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 most important thing is that there is clear reporting structure and everyone knows what it is.
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If you compromise and hire someone mediocre you will always regret it.
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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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