How to Start a Startup – Lecture 14: How to Operate
startupclass.samaltman.com
startupclass.samaltman.com
+1 Grade/compensate based on ratio of output divided by resources, so that managers don't have incentive to create empires.
+1 Calendar audit vs stated priorities
+1 Company must have one voice and a simple message
Mark Zuckerberg did not succeed at Facebook because he was an expert in startups, he succeeded despite being a complete noob at startups; I mean Facebook was first incorporated as a Florida LLC. Even you guys know better than that. He succeeded despite being a complete noob at startups because he understood his users very well. Most of you don't know the mechanics of raising an angel round, right? If you feel bad about that, don't, because I can tell you Mark Zuckerberg probably doesn't know the mechanics of raising an angel round either; if he was even paying attention when Ron Conway wrote him the big check, he probably has forgotten about it by now.
I agree that this talk is useless, even dangerous, unless you are post A series.
Edit for further explanation: Zuckerberg's initial capital for Facebook came from his father and his father's friends. He had been tutored privately from a young age, much like Bill Gates was, and he'd already had extensive experience working in founder-like roles by the time he made Facebook. His life is best used an example to demonstrate the immense advantage being born into a life of wealth and privilege confers, not as an example for what (or what not) to do when starting up a company for the typical person. His life is so removed from that that using it as an example is tantamount to uttering gibberish.
Sure, but only about 5%. The median salary for a dentist and a psychiatrist adds up to $333,000 which is the 95% percentile for household income today. A verrry long way from average.
So, really we are talking about the top 1%.
Your overall point stands - Google or E-bay would be much better examples, as they really were started by first-time founders.
Surely that makes him a useful example to learn from?
So, for any of the lectures, if not all the content seems earth shaking, Nobel prize level stuff, then just accept the good news: It's possible to be one of the most successful at the level of content often in the lectures! Comforting!
Of course the best overall statement I ever heard from a successful person comes from Notch, who, when asked what advice he would give to someone who wanted to become as successful as him, replied: first of all, don't listen to advice. The deeper wisdom behind this that really hit a chord with me is there is no big secret which successful people can hand down to others so they may reliably replicate that success.
You might learn something, or even a lot, about procedures and attitudes that were essential, but at a fundamental level I don't think a successful person can meaningfully grasp all the factors that were instrumental to their story. A lot of what they think is essential may in fact be superstition, as they lack enough data points.
I found it's still valuable information, but as with anything, you have to weigh it critically. All things being equal, I'd put a lot more weight on advice coming from VCs or people running incubators as compared to the observations of super successful billionaire founders, simply because they have access to more data.
I'd probably distill most of his lecture down to these two core ideas...as a method of operating you're startup. As a result, I've summarized most of the useful quotes from the lecture here: https://medium.com/how-to-start-a-startup/56-quotes-from-kei...
I am not talking about startups, just about established and successful companies.
In this context you can read about Zuckerberg speaking Mandarin... http://fusion.net/story/23532/facebook-ceo-mark-zuckerberg-s...
I'm reminded of the description of the order during WWII for the US landing at Leyte Gulf: "Land and establish a base" or some such. Just that short. For some hundreds of thousands of soldiers.
So, for, say, the CTO, maybe "Implement the server farm."
In other ways he liked some things to be complicated, e.g., the story of the three page memo on how the receptionist should answer the phone.
This is my (new) most interesting lecture. There's a psychological side to employee startup culture which is covered in some management classes that I haven't heard about being covered here.
Great stuff!
I absolutely love this series of videos. Its supremely comprehensive and makes me just want to quit my job, drive home, and build an amazing company.
Unfortunately bills gets in the way so I have to work these 8 hours. That said, every time I do watch these videos I'm coding and planning on my off hours. Startup school in NYC was an amazing experience as well.
I guess this sums up the lecture :
"How to manage efficiently >irrational< people to get an output"
However I believe my previous comment is on topic & valuable too.
Are there lessons to be learned?
[link]https://www.facebook.com/pages/Hacker-News/1558365107716690
If you know your field then you do not need this.
If you don't it won't make you succeed.
You need a capital, & that's the bottom line!
Without any kind of money which is time you simply can not do a startup.
Now, why people give up money to others? That's the real question.
I confidently can say at least 80% of the time it has nothing to do with the venture itself!
Connections, how you look/sound etc.
If you watch Shark tank you can see this clearly where Sharks bend the "rules" when they like someone.
Money is never an issue for them here, it's why would I give this person my money.
People tend to revert to these things because no one knows the future & unfortunately instead of making decisions rationally they end up going to the other end which is almost like consulting an oracle.
I am doing a Startup & have launched a fundraiser www.9mim.com & will share the process
Please check it out & give me your honest feedback to me this is more important than the $ itself as I'll do it regardless but with the $ it'll happen faster & have a better chance of succeeding.
Please do your feedback here