Great lecture

He's so cute

✦ Startups are counterintuitive, and trusting your instincts can lead you astray 00:02 Founders often ignore advice that contradicts their intuition Trust your instincts about people, and work with those you genuinely like and respect ✦ Expertise in startups is not necessary to succeed in a startup. What you need is expertise in your own users. 05:22 Mark Zuckerberg succeeded despite being a complete noob at startups because he understood his users very well. Young founders starting startups often go through the motions of starting a startup, neglecting to make something people want. They have been trained their whole lives to play such games, leading to the first impulse of figuring out what the tricks are. The best way to convince investors is to start a startup that's actually doing well, meaning growing fast, and then simply tell investors so. ✦ Startups require solving real problems, not just gaming the system. 11:11 Faking success may work with investors temporarily, but it is not sustainable. Users are the only ones who matter in a startup. Startups are all-consuming and require a significant opportunity cost. Despite success, the challenges and problems never go away in a startup. ✦ Starting a startup in college is not the optimal time to do it. 16:16 Universities can teach you about startups, but it is not what you need to know. There are things you can do in your early 20's that you cannot do before or after, like plunging deeply into projects on a whim or traveling super cheaply with no sense of deadline. If you start a startup at 20 and you're sufficiently successful, you will never get to do these things again. Success takes serendipity out of your life and can run your life as much as you run your company. ✦ Starting a startup is hard and requires careful consideration 21:08 Success is more likely if you wait to start a startup It's hard to predict who will be successful in starting a startup Don't consciously try to think of startup ideas, focus on things that matter and problems that interest you ✦ To prepare for a startup, work on things that stretch you and are genuinely interesting. 26:10 Being an expert in a domain is important for a startup. Follow your own inclinations and learn powerful things in college for education's sake. ✦ Business school is not necessary for entrepreneurship 31:15 How non-technical founders can effectively contribute to a startup Management is only a problem if you're successful The first hires in a startup are almost like founders and should be motivated by the same things If someone has to be managed, they shouldn't be on the founding team ✦ Valuations are high but there is no bubble 35:55 People are starting labs to spin off startups Female founders should focus on making their startup do well ✦ Do what you like and do things that don't scale 40:34 What you learn in college right now - physics seems interesting Efficiency - having kids makes you focus Turning a side project into a startup - when it takes over an alarming percentage of your life Do things that don't scale - read the essay ✦ YC incubation works for all kinds of startups 44:39 Startups that fail shouldn't go through incubation Founders are often surprised by the common problems faced by startups, which YC helps with the most There is no class of startups that YC wouldn't work for It's important to work on interesting things, and if you find working on boring things intolerable, you have a taste for genuinely interesting problems The advantages of hiring people you know and like are far greater than the small disadvantage of having some monoculture

What a disgusting, selfish, myopic business philosophy. No wonder our country is a capitalist hellscape.

✦ Choosing a good co-founder is crucial for start-ups 00:03 Choose someone you know or have a long history with Look for someone who is relentlessly resourceful ✦ Hiring right is crucial for success. 05:39 Founders should be unflappable, tough and follow James Bond's model. Start-ups should have few employees initially and prioritize hiring the best for a committed, dedicated team. ✦ To build a successful startup, pick a rocket ship company that's already working. 11:07 Good hires set the tone for startups. Spending 25% of your time hiring is recommended and personal referrals are usually a great way to hire. Experience matters for big organizational roles but usually doesn't matter for early hires. Look for smart hires that get things done and are enjoyable to work around. ✦ Founders should focus on hiring manically determined, good communicators with risk taking attitudes, and be generous with equity for early employees. 16:25 Hiring the right people is crucial for startup success, and founders should prioritize communication, risk-taking, and determination when hiring. 10% equity should be given to the first 10 employees and founders should fight to decrease investor equity while increasing employee equity. ✦ Dan Pink's three motivational factors: autonomy, mastery, and purpose. 21:43 When running a company, consider the importance of employee motivation. Firing people who consistently perform poorly and create office politics is necessary for the success of the company. ✦ Vesting on equity is crucial for startup company founders 26:45 Founders who leave the startup too early walk away with a large percentage of equity Investors won't fund a company without founders who have vested equity ✦ Focus and intensity are key to startup success 32:22 Setting clear priorities and goals helps maintain focus Being willing to outwork competitors and balancing speed with quality is crucial ✦ Maintaining momentum and growth is crucial for startups 37:59 Speed, quality standards and decisiveness helps to keep the momentum going Breaking down projects into smaller pieces and focusing on incremental wins can contribute to growth ✦ Small wins fix all problems in a startup 43:15 Disagreement in the team can be resolved by asking the users Establish an operating rhythm to keep momentum and review metrics weekly

Came out of curiosity, leaving because this guy's a terrible presenter.

00:03 Sam Altman introduces class and its goals 02:01 Key areas to excel in for startup success 05:47 Start with a strong idea that can expand and be difficult to replicate. 07:39 Start a mission-driven company for greater success 11:19 Choose a rapidly growing market for your startup. 13:05 Good startup ideas are easy to explain and understand 16:59 Build something that a small number of users love. 18:40 Focus on making a small group of users really love what you're doing 21:52 Founders feel physical pain when the product sucks and fix it quickly. 23:28 Build tight feedback loop with users for rapid product improvement 26:39 Entrepreneurship is not as glamorous as it seems 28:20 Founders are responsible for the opportunity cost of their team's time and are always on call. 31:46 Managing your own psychology is a core responsibility for a CEO. 33:37 Navigating difficult situations and priorities as a boss. 37:07 Building a hundred million dollar company can result in significant financial reward and impact. 38:50 Leveraging existing infrastructure for startups and the impact of proprietary technology 42:11 Passion for the idea should be the driving force for starting a company Crafted by Merlin AI.

6:07 so yup you are talking about generalists

One of the few long english videos i actually watched and learned 🎉

✦ Sam Altman introduces class and its goals 00:03 Y Combinator has been teaching people how to start startups for nine years, with 30% of the content being generally applicable Guest speakers have been involved in creating billion-dollar companies, providing practical advice for hypergrowth startups ✦ Key areas to excel in for startup success 02:01 The four key areas are: great idea, great product, great team, and great execution. Success in these areas gives a good chance at startup success, regardless of age or experience. ✦ Start with a strong idea that can expand and be difficult to replicate. 05:47 A strong idea should come first before starting a startup. Mission-oriented ideas are important for long-term dedication and external support. ✦ Start a mission-driven company for greater success 07:39 Derivative companies lack new insights and do not inspire hard work Great startup ideas may look bad initially but can lead to success ✦ Choose a rapidly growing market for your startup. 11:19 You should be confident that the market you're targeting will grow rapidly. Consider whether it's the right time for your idea and if it meets a current need. ✦ Good startup ideas are easy to explain and understand 13:05 Articulate vision with a small number of words is crucial Importance of meeting potential co-founders as a student ✦ Build something that a small number of users love. 16:59 Focus on creating a product that a small number of users really love rather than something a large number of users just like. It's easier to expand from something that a small number of people love to something a lot of people love, rather than from something a lot of people like to a lot of people love. ✦ Focus on making a small group of users really love what you're doing 18:40 Organic growth comes when people really love something and will tell their friends about it Prioritize a great product over sales and marketing, as a great product is the secret to long-term growth ✦ Founders feel physical pain when the product sucks and fix it quickly. 21:52 Recruit initial users manually, not through Google AdWords. Understand and listen to a small group of users to make them love your product and provide feedback. ✦ Build tight feedback loop with users for rapid product improvement 23:28 Ask users what they like and don't like, and watch them use the product, creating a tight feedback loop for continuous improvement Founders should be directly involved in sales and customer support in the early days, embedding a culture of close user interaction ✦ Entrepreneurship is not as glamorous as it seems 26:39 Entrepreneurship has been romanticized in the media, but the reality involves a lot of hard work and stress. Founders face a lot of responsibility and fear of failure, leading to extreme stress and pressure. ✦ Founders are responsible for the opportunity cost of their team's time and are always on call. 28:20 Team members depend on founders for their livelihood and devote their best years to the startup. Fundraising adds an extra layer of stress with the need to always be focused and prepared. ✦ Managing your own psychology is a core responsibility for a CEO. 31:46 Starting a company requires managing stress and anxiety, which can impact physical health. The narrative of starting a company to do it better may overlook the nuances and difficulties of decision-making. ✦ Navigating difficult situations and priorities as a boss. 33:37 Having flexibility and control over your schedule as a boss helps in managing priorities and expectations. Entrepreneurs are always on call and their energy and dedication directly influence the team's performance. ✦ Building a hundred million dollar company can result in significant financial reward and impact. 37:07 Potential share of about ten percent in the company after dilution and option pool creation. Financial reward is strongly correlated with impact on the world, as seen in joining late-stage companies. ✦ Leveraging existing infrastructure for startups and the impact of proprietary technology 38:50 Startups can benefit from existing infrastructure provided by major companies and independent service providers, such as AWS, to build their products. Examples like Google Maps, Chat with you, and the Like button showcase the impact of leveraging proprietary technology within a larger organization without starting a separate company. ✦ Passion for the idea should be the driving force for starting a company 42:11 The feeling of being so passionate about the idea that you can't do anything else is a sign of the right idea Out-competing the team for which it is true could lead to a suboptimal outcome for the world

Who watch it on 2024

I m gonna start a startup soon

isn't Google a known DARPA Project? to get intelligence on everyone, even our photos etc

to people who are saying Google came into a big market.. when Google started most people didn't even know what the internet did and most did not even know what a modem was and had never logged in to the internet or used a search engine..Yahoo was the known search engine for people who DID use the internet, but they were people like company computer system administrators.. it was a very small amount of people who used internet search engines back when Google first came along you clearly weren't there if you think it was a big market back then.. hardly any homes had internet access, or even a computer, back then

This is so so informative. It has REALLY helped me in my PYPX - Primary Years Program eXhibition👏Hats off guys!!

I bet he copy paste all of it from Chat-GPT 😉

he's from the same clone batch as sam bankman

This was the first video i got as recommendation Today ❤

27:41 thinking I'll do it for 3-4y and then sell is a bad idea, it usually tks 10y

Anyone 2024? Sam Altman AI Era?

Sam Altman lol

24 may 2024

"9 years ago" is insane

Under “pros” for monopoly Thiel wrote “incentive to innovate” LMAO

23may24 india and you ?

keep web search and ditch air traffic. wtf is wrong with this guy?

Back when Sam Altman wasn't ruling the world with openAI

Lessons learnt: Founders need to spend a tremendous amount of their personal time to get the first users in an unscalable way.

Lessons learnt: (1) Make hiring decisions after you contract work with them for like a month; (2) Get everyone on the team to answer support tickets/phone calls; (3) How to boost morale and productivity in your team: 48-hr hackathon, taking turns, each person leads a topic they want to build at a time and the rest follows because people feel good about themselves for being able to move metrics in their product; Have a public to-do list to create this social competition and accountability to finish stuff; Have 3 full days (8-10 hrs) of building things; Winners get to pick the next company vacation, etc.

I am watching this on 21st of May 2024

Sam - 1x Ron - 2x Marc - 0.75x P. Conrad - 1.25x That's the speed of them talking 😅

Great!!

The way Peter Thiel salivates about monopolies here is honestly disturbing. Monopolies result in worse outcomes for all involved except the owners.

I really want to know which are the way 'easier ways' to get rich other than found a startup...

i am watching this on 20th of may 2024 💪

this was first lecture above six i watched in one sit. great public speaker. very smart man.

and... and... and... ahh. ahhh. ahhh. Some companies are successfull... and... and .. ahhh ahhh... some are not Great lecture

The key to starting a successful startup is to have a great idea that solves an important problem, build a product that users love, assemble a talented team, and execute relentlessly. Startups require immense dedication and can be extremely stressful, but the potential impact and financial rewards can be significant. Key moments: 00:24 Startups require a great idea, product, team, and execution for success. Luck plays a role, but focusing on these areas increases chances of success in the hyper-growth startup world. -Importance of a great idea in startups. While execution is crucial, a bad idea remains detrimental. Successful pivots often stem from founders' desires, not random ideas. -Evaluating startup ideas involves considering market size, growth strategy, and defensibility. Long-term planning and thinking are essential for startup success and growth. 06:02 Startups should focus on building a business that's difficult to replicate, emphasizing the importance of a good idea over the startup itself. Waiting for a compelling idea and being mission-oriented are crucial for startup success. -Choosing an idea you feel compelled to explore and love is essential for startup success, as waiting for the right idea can lead to better outcomes. -Being mission-oriented is key for startup success, as it drives focus, productivity, and dedication, attracting support and making it easier to navigate the challenges of starting a business. -Selecting a mission-oriented idea that excites people and stands out from derivative concepts is crucial, as it motivates teams to work hard and attracts support for the project. 12:04 To succeed in a startup, focus on building a great product that users love, as it is crucial for success. Successful founders prioritize working on the product and talking to customers, ignoring distractions like PR and partnerships. -Importance of timing and idea selection in startups. Mark Andreessen's quote 'software is eating the world' highlights the abundance of opportunities. Sequoia's 'Why now?' question emphasizes the significance of timing for startup success. -Building a product users love. Founders should focus on creating something they need themselves for better understanding. Prioritize user feedback and iteration to ensure product-market fit. -Choosing user love over user like. It's better to have a small number of users who love the product than a large number who just like it. Start with a core group of passionate users for success. 18:08 Startups should focus on building a product that a small group of users really love, as organic growth through word of mouth is crucial for success. Simple products that excel in one thing and founders' fanaticism in quality are key to building a great product. -Importance of organic growth through word of mouth for startup success, emphasizing the need for a product that users genuinely love. -The significance of simplicity in product design, starting with a basic yet excellent feature to create a product users will love. -Founders' fanaticism towards product quality, attention to detail, and customer support as essential elements in building a successful product. 24:13 Building a great product requires hard work and dedication, with founders directly engaging with users and focusing on key metrics for growth and success. It's crucial to understand the challenges and stresses of entrepreneurship to make informed decisions. -Direct founder involvement in sales and customer support is vital for early-stage startups to embed a culture of engagement with users. -Utilizing metrics like active users, cohort retention, and revenue is essential for startups to track growth and make informed decisions. -Entrepreneurship involves significant responsibilities, stress, and hard work, requiring founders to be always prepared and dedicated to the company's success. 30:15 Entrepreneurship comes with unique stressors like media attention, commitment, and decision-making challenges. Managing one's psychology is crucial for CEOs to navigate conflicts and prioritize effectively, impacting the company's success. -The stress of unwanted media attention and the impact of positive vs. negative publicity on entrepreneurs. -The long-term commitment and career implications for founders compared to employees in startups, emphasizing the need for dedication and resilience. -The challenges CEOs face in decision-making, conflict resolution, and managing priorities to minimize disappointments and drive company success. 36:22 Joining a late-stage company can provide significant impact due to existing user base and infrastructure, leading to massive innovations like Google Maps and Facebook's like button, showcasing the correlation between financial reward and world impact. -Benchmarking potential earnings as an entrepreneur based on successful company joinings like Facebook and Dropbox, emphasizing the importance of confidence in building a $100 million business. -Exploring the impact of joining late-stage companies on innovation and user reach, illustrated by examples of impactful products created within established companies like Google and Facebook. -Emphasizing the necessity of passion and alignment with solving important problems as key drivers for entrepreneurial success, highlighting the significance of making a positive impact on the world. 42:26 The founders of Asana were passionate about their idea, working on it day and night, convinced of its value and uniqueness, driving them to start the company despite challenges. -The founders worked on an internal task manager at Facebook, driven by their passion and belief in its value, leading them to start Asana. -They were convinced of the uniqueness of their solution, seeing incremental alternatives in the market, motivating them to pursue their idea. Lucky

Title: Competition is for losers *unprovokedly flames 3 separate industries in the first 10 minutes of the lecture*

I'm watching at the age 17😮

What he’s advocating for is fascism. He can’t say it, nor does he strike me as someone who would even knows what it means. Use government protection to create a monopoly for your business. He’s just another boot licking money worshipping monster

Ahh yes, use government protection to create a monopoly. True capitalism

2024

Are these lectures still relevent, or anybody has any better recomendation

Are these lectures still relevent in 2024, or does anybody here has a better updated recomendation

How to build technology for small business owners and s*** them

Quite tautological: Monopolies avoid competition, duh. Make 10x improvement and you will get an insurmountable advantage, duh(2).

I'm curious to know if anyone who attended these Stanford lectures 9 years ago has a successful startup today. The quality of these talks is impressive, and I'd love to hear about their journeys and successes!

Would have loved it if it was condesed to 10 minutes. I found it drawn out. Was still worth listening

This is pure gold.