I’m at the 12:37 mark and anyone interested in Startups should stop whatever they are doing right now and watch this (45 mins video at end of post).
If you are new to the scene, Y Combinator(YC) is like the Harvard of Entrepreneurship that provides seed funding for startups. Seed funding is the earliest stage of venture funding. The fund is used to pays for your expenses while you’re getting started. Some startups that came out of YC are AirBnB, Dropbox & reddit.
The course is led by Sam Altman, the president of Y Combinator and is made available online. The course will feature appearances by well-known investors and entrepreneurs such as Peter Thiel (Paypal turned VC), Marc Andreessen (Netscape turned VC), Marissa Mayer(Yahoo)and Ben Silbermann (Pinterest).
Why You Should Be Watching
- Understand the basics and dynamics of a startups
- Know what it takes to do a startup, the “ugly” side of startups
- The opportunity to hear and learn straight from the horse’s mouth about startups
You can’t teach everything necessary to succeed in starting a company, but I suspect we can teach a surprising amount.
We’re doing this because we believe helping a lot of people be better at starting companies will be good for everyone. It will hopefully be valuable even for people who don’t want to start startups.- Sam Altman
Key Takeaways (up till Dustin’s presentation)
- The best company are usually mission oriented. The company should feel like an important mission.
- Have conviction in you own beliefs, learn to say no to the naysayers. But know there is a fine line between genius and insanity.
- Think of the market and what people want first.
- Your job is to make products that users love. Build something that users love.
- Better to build something that a small numbers of users love than something that big number of people like.
- Founders of great companies do sales and customer support themselves in the early days.
- Founders just need to work on product, talk to users, exercise, eat and sleep. Nothing else matters.
- Startups live on growth
- The no.1 role of a CEO is managing your own psychology