How to start a startup series
Lecture 1 – How to Start a Startup (Sam Altman, Dustin Moskovitz)
Sam Altman, President of Y Combinator, and Dustin Moskovitz, Cofounder of Facebook, Asana, and Good Ventures, kick off the How to Start a Startup Course. Sam covers the first 2 of the 4 Key Areas: Ideas, Products, Teams and Execution; and Dustin discusses Why to Start a Startup.
…All of the advice in this class is geared towards people starting a business where the goal is hyper growth and eventually building a very large company…
…You may still fail. The outcome is something like idea x product x execution x team x luck, where luck is a random number between zero and ten thousand. Literally that much. But if you do really well in the four areas you can control, you have a good chance at at least some amount of success….
…There are much easier ways to become rich and everyone who starts a startup always says, always, that they couldn’t have imagined how hard and painful it was going to be. You should only start a startup if you feel compelled by a particular problem and that you think starting a company is the best way to solve it….
…A bad idea is still bad and the pivot-happy world we’re in today feels suboptimal. Great execution towards a terrible idea will get you nowhere…
Full transcription here