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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
Totally
Stingy
Usually
Equity
Team
Employees
Think
Founders
Thinking
Backwards
Investors
Employee
Generous
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You have to let your team get all the credit for all the good stuff that happens, and you take responsibility for the bad stuff.
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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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Before product/market fit, your only job that matters is to build a great product.
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The best people know that they should join a rocketship.
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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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For most software startups, this translates to keep growing. For hardware startups, it translates to don't let your ship date slip.
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You don't get to make their decisions but you do get to choose the decision makers.
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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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You need to have a culture where people have very high quality standards in everything the company does, but still move quickly.
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In YC's case, the number one cause of early death for startups is cofounder blowups.
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If you compromise and hire someone mediocre you will always regret it.
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The single word that matters most I think to keep the company productive as it grows is alignment.
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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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Every company has a rocky beginning.
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... but actually it sucks to have a lot of employees, and you should be proud of how few employees you have.
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