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In general though, if you look at the track record of pivots, they don't become big companies.
Sam Altman
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Sam Altman
Age: 39
Born: 1985
Born: April 22
Entrepreneur
Chicago
Illinois
Samuel H. Altman
Samuel Altman
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General
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More quotes by Sam Altman
In the early stage of a startup, hiring senior people is usually a mistake. You just want people that get stuff done.
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One thing that founders forget is that after they hire employees, they have to retain them.
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The startups that do well are the ones that are working all the time.
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The thing that kills startups at some level, is the founders giving up.
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Most founders have not managed people before, and they certainly haven't managed managers.
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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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... 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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You're saying no ninety-seven times out of a hundred, and most founders find they have to make a very conscious effort to do this.
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Every company has a rocky beginning.
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Be suspicious of any work that is not building product or getting customers.
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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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Remember that the idea will expand, and become more ambitious as you go.
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Before product/market fit, your only job that matters is to build a great product.
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The way to have a company that executes well is you have to execute well yourself.
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The most common post YC failure case for the companies we fund, is they're incredibly focussed during YC on their company... and after they start doing a lot of other things. They advise companies, they go to conferences, whatever.
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If you compromise and hire someone mediocre you will always regret it.
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Ideas by themselves are not worth anything, only executing well is what creates value.
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You should be able to describe any employee as an animal at what they do.
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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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As you grow, it feels hopelessly corporate but it really is worth putting in place these compensation bands.
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