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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.

Sam Altman

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Sam Altman
Age: 39
Born: 1985
Born: April 22
Entrepreneur
Chicago
Illinois
Samuel H. Altman
Samuel Altman
Year
Next
Giving
Going
Every
Years
Think
Thinking
Company

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The track record for founders that don't already know each other is really bad.
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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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If you compromise and hire someone mediocre you will always regret it.
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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.
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Mediocre founders spend a lot of time talking about grand plans, but they never quite make a decision.
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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.
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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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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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The cost of getting an early hire wrong is really high.
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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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Ideas by themselves are not worth anything, only executing well is what creates value.
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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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Be suspicious of any work that is not building product or getting customers.
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Growth solves (nearly) all problems
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