Here's a good rule of thumb: don't worry about a competitor at all, until they're actually beating you with a real shipped product. Sam Altman More Quotes by Sam Altman More Quotes From Sam Altman The thing that kills startups at some level, is the founders giving up. Sam Altman levels giving-up giving Founders are usually very stingy with equity to employees and very generous with equity to investors. I think this is totally backwards. Sam Altman employee team thinking Why now, why is this the perfect time for this particular idea, and to start this particular company? Sam Altman why-now perfect ideas Why couldn't it have been done 2 years ago, and why will 2 years in the future be too late? Sam Altman done too-late years In general, it's best if you're building something that you yourself need. Sam Altman building-something building needs In the early stage of a startup, hiring senior people is usually a mistake. You just want people that get stuff done. Sam Altman senior mistake people As the company grows and about this 25 or so employee size, your main job shifts from building a great product to building a great company. Sam Altman size building jobs Before product/market fit, your only job that matters is to build a great product. Sam Altman fit matter jobs If it takes more than a sentence to explain what you are doing, it's almost always a sign that what you are doing is too complicated. Sam Altman sentences complicated ifs More important than starting any startup, is getting to know a lot of potential co-founders. Sam Altman founders starting important If you can just learn to think about the market first, you will have a big leg up on most people starting startups. Sam Altman legs people thinking ... the thing we see wrong with YC apps most frequently, is that people have not thought about the market first and what people want first. Sam Altman want people firsts In the beginning of a company, there is no management and this actually works really well. Sam Altman company wells management Before 20 or 25 employees, most companies are structured with everyone reporting to the founder. It's totally flat. Sam Altman flats employee founders What you want to do is innovate on your product and your business model, management structure is not where I would try and innovate. Sam Altman management want trying When lack of structure fails, it fails all at once. What works totally fine from 0-20 employees, is disastrous at 30. Sam Altman fine structure failing You don't need to make the structure complicated, in fact you shouldn't. All you need is for every employee to know who their manager is. Sam Altman complicated facts needs You need this sort of a tailwind to make a startup successful. Sam Altman successful needs Most founders have not managed people before, and they certainly haven't managed managers. Sam Altman founders havens people Employees will only add more value over time. Sam Altman employee team add
