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As you grow, it feels hopelessly corporate but it really is worth putting in place these compensation bands.
Sam Altman
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Sam Altman
Age: 39
Born: 1985
Born: April 22
Entrepreneur
Chicago
Illinois
Samuel H. Altman
Samuel Altman
Putting
Band
Worth
Grow
Grows
Hopelessly
Place
Compensation
Feels
Bands
Really
Corporate
More quotes by Sam Altman
The cost of getting an early hire wrong is really high.
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At the beginning, you should only hire when you have a desperate need to.
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The track record for founders that don't already know each other is really bad.
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The second part of how to hire: try not to.
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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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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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You really want to know your cofounders for a while, ideally years.
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Because it's one of these sort of connections between nodes- every pair of people adds communication overhead.
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Losing focus is another way that founders get off track.
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Great execution towards a terrible idea will get you nowhere.
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A single mediocre hire in the first five will often in fact kill a startup.
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Everyone starting a startup for the first time is scared, and everyone feels like a bit of an imposter.
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The best people know that they should join a rocketship.
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Founders need to figure out what the message of the company is going to be.
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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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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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In general, it's best if you're building something that you yourself need.
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You also want to fire people who a) create office politics, and b) who are persistently negative.
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Obsess about the quality of the product.
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If it works out, you're going to be working on this for 10 years.
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