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aberman

1,374 karma · joined March 13, 2009

Co-founder @ WePay; Former MD @ JPMorgan Chase; Visiting Group Partner @ Y Combinator
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aberman··on Things a Non-Engineer Should Know Before Founding a Web Startup
see edit on my original post.
aberman··on Things a Non-Engineer Should Know Before Founding a Web Startup
good point and duly noted (though i find your style of offering feedback somewhat abrasive).
aberman··on So you’re inexperienced, non-technical, and you want to work for a startup
Here we go again...

Nobody is requiring people to offer working unpaid

Like I said, these are students looking to fill positions that don't exist. I'm not going to offer you a job, let alone pay you, for something that I don't really want you to do in the first place. Did you read the post? I'm suggesting that if these students really want to work for a startup despite the fact that startups don't want to hire them, then they should basically break down the door and remove any possible objections.

aberman··on So you’re inexperienced, non-technical, and you want to work for a startup
You are flooding the market with artificially cheap labor, making it impossible for others who can't work for free to compete.

You are assuming that unpaid interns would otherwise take the jobs of paid employees. In this regard, you are categorically wrong. Read my post: we don't want to hire anybody. From the post: It's a position "that doesn't exist." Offering to work unpaid is a hack that get's you in the door.

aberman··on So you’re inexperienced, non-technical, and you want to work for a startup
Don't even tell, just show ;)
aberman··on So you’re inexperienced, non-technical, and you want to work for a startup
We are in a different position now than we were a year ago. We are happy to offer paid internships.

That being said, if we (and other startups) don't want to hire you because you are inexperienced, offering to work unpaid may make it easier to get some experience. If, for some crazy reason, you really want to work for a startup, you should do what it takes to break into that community.

That's what I did in college, and for a year after college. No way I would have been able to found WePay without those experiences.

aberman··on Why Blippy Will be Huge: Popularity Modeling and the Music Business
paypal was billpoint without ebay. It didn't work then either.
aberman··on Why Blippy Will be Huge: Popularity Modeling and the Music Business
Think about all the things one communicates on a daily basis: where you like to eat lunch, what music you like, what you find fashionable, etc. These things are all communicated in one way or another through your transaction history.

To the extent this information can be parsed and digested, you have a pretty valuable business. Not only does blippy create a foundation for conversation about these things, it actually is the conversation in a lot of ways.

I was equally skeptical. Then I started using it, and I quickly discovered it's value.

aberman··on How to Intern for a Startup
My co-founder and I had been working almost a full year before we got accepted to YCombinator, and we made some pretty substantial progress building out our back-office financial partnerships and getting savvy in the payment space.

Bill had walked away from a very lucrative job in finance, and I left a pretty prestigious scholarship at NYU law.

We were far from conception stage when we brought Karl on board. When he agreed to work for us, he knew he was going to learn a lot, get the YC experience, make some good connections, and see what it was like to work for an early-stage startup without having to make a life-changing commitment. If the company went belly-up, he could just go back to school in the fall. In fact, he did go back to school at the end of the summer.

If we went belly up, Bill and I would have been shit out of luck. Karl only came back after we raised money and offered him a salary.

There is no way we would have hired Karl had we not had the opportunity to work with him over the summer. But he did choose to work with us, and he was rewarded with a position that he would have had no chance of getting otherwise. He still has the option to go back to school, but if he does, he will have a head start on most of his peers.

Karl has been an incredible part of our team, and I am thrilled we have him. That being said, we did not need Karl to get where we are, which I think is the one prerequisite for giving anybody founder status (and the commensurate equity).

I worked for a startup (poverty level wages) right out of college. It was one of the best experiences I have had, and without it, there is no way I would have started this company. I wasn't doing it in the hopes that one day I would be anointed a founder.

aberman··on [dead]
If you didn't get into YC, COME WORK FOR WEPAY :)

Seriously, though. I promise to take you to all the YC events (they usually welcome alums), so you'll get that experience.

We are still a 5 person team, so you will get the startup experience.

We will pay you, but you can still eat Ramen if you'd like.

See more details here: http://wepay.theresumator.com/apply/waxuor/

aberman··on 5 things I knew (or should have) before my startup, but didn't learn until now
I just reread my post, and I realize how point #4 sounded. It was somewhat unintentional.

Raising money in silicon valley is hard to do without being part of the silicon valley in-crowd.

Raising money in Boston is hard to do in general, but I don't think it's impossible (although I wouldn't know). I don't think we were ready to raise money when we were still in Boston, and I certainly don't blame investors for not throwing money our way at the time. We were a very different company in Boston than we were after YCombinator.

aberman··on 5 things I knew (or should have) before my startup, but didn't learn until now
Nothing is so bad about that. I'm not trying to say that life is going to suck, you are going to fail, and therefore you should never try.

I'm just saying that "knowing" something will be hard, and experiencing something that is hard are two very different things. And to the extent that you can prepare yourself for what's about to come, it will be much easier for you to resist the urge to quit.

aberman··on 5 things I knew (or should have) before my startup, but didn't learn until now
I was wondering if anybody would catch that ;)
aberman··on SV Angel Partner Brian Pokorny Now CEO of DailyBooth (YC S09)
Now @ryanamos can get more than 2 hours of sleep every night. Congrats guys, you're a great team.
aberman··on The Y Combinator Experience
I believe YC takes common stock, not preferred stock.
aberman··on Jessica Livingston with AirBnb live now.
"Maybe I'll create a competitor that doesn't charge anything."

And yet, I would still bet on airbnb...

aberman··on Jessica Livingston with AirBnb live now.
I doubt they are intentionally misleading you.

If anything, I would guess it's a UI/design issue, rather than malicious intent on their part.

aberman··on An average half-kilometer S-type asteroid is worth more than $20 trillion.
Fortunately, if you depress the price of a 20 Trillion dollar asset, you're still in pretty good shape ;)
aberman··on How to get better at UI design
For "Usability Testing", I would recommend Steve Krug's second book, "It's Not Rocket Surgery", rather than "Don’t Make Me Think".

"It's Not Rocket Surgery" is entirely about usability testing, whereas his first book only dedicates 1-2 chapters to it.

aberman··on TechCrunch Intern Admits To Asking For Compensation For Writing Posts
Really? This is what happens when you pay interns with awesome experience, rather than cash?
aberman··on Lessons from My AlphaLab Experience
I am usually pretty bored by "x lessons from my y experience" posts, but this one hit the nail on the head. Very poignant observations.
aberman··on Not-so-safe Sex
"only one outbreak in that community, which is far better than your average college campus"

So the average college campus has much more than one outbreak of HIV? Somehow I doubt that...

aberman··on Wakemate (YC S09) helps you kiss groggy mornings goodbye
I am actually a pretty good sleeper. I naturally sleep about 8 hours a day, and if I wake up naturally, I usually wake up feeling pretty good (haha...people are going to hate me for that).

The problem is when I go to bed really late and/or need to wake up earlier than I would naturally. As it turns out, I am more affected by when I wake up in my sleep cycle than I am by how long I sleep. If I need to wake up at 7:30am for a call with east coast people, the wakemate would wake me up at "around" 7:30 (you can set a hard stop), during the point in my sleep cycle in which I am most amenable to being woken up. It's the difference between feeling like shit, and feeling like I woke up naturally.

aberman··on Wakemate (YC S09) helps you kiss groggy mornings goodbye
Yeah, no problem.

I didn't get to use one of the new, super sleek, production quality ones. I used an early prototype that slipped inside a wrist band (like tennis players wear). It was actually still pretty comfortable to sleep with - I didnt even feel it after the first night.

It definitely woke me up at the optimal time in my sleep cycle. The alarm app was a really simple web app, and the bluetooth was simple. It was cool to see my sleep analyzed with all our different metrics and quality rated. The sleep analytics software was pretty simple, but definitely did the trick.

aberman··on Wakemate (YC S09) helps you kiss groggy mornings goodbye
I was fortunate enough to know these guys while they were building the wakemate prototypes, and even luckier to have had the opportunity to sleep with one (of the devices) for a week. It has made a tremendous difference in how I feel when I wake up. Congrats guys!
aberman··on Advice for start-ups : You're just getting started
So maybe the point is to find a small enough niche where you have little competition, and build something that fills that tiny niche/solves that core problem very well (and nothing more). And you can expand from there with features, etc. to build a big company?

I don't know, but that makes a lot of sense to me...

aberman··on 1 Million XBox Live Players Banned
I was one of these "victims" last night :(

It was heartbreaking.

aberman··on VentureHacks: How to Pick a Co-founder
I wish I could up-vote this comment twice. So true.
aberman··on The air in the valley
Who cares if it's "slightly embellished"? I'm sure the spirit of the story is true, so who cares if the details are slightly "improved" to create a more compelling story? I think all founders should be able to provide a compelling narrative. It obviously worked; they made satish's first blog post.
aberman··on Zen, or the art of YC interview
I know this might be little consolation, but if you knew the author, you might appreciate this post a bit more.
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