It's easy to say, 'I'm going to build something that already exists,' but it's difficult to clearly and succinctly describe something new. Sam Altman More Quotes by Sam Altman More Quotes From Sam Altman You also want to fire people who a) create office politics, and b) who are persistently negative. Sam Altman team fire people Investors will sort of like write the check and then, despite a lot of promises, don't usually do that much; sometimes they do. Sam Altman team writing promise You should think about for the next 10 years, you're going to be giving out 3-5% of the company every year. Sam Altman giving years thinking We've seen a lot of data at YC now, and the most successful companies and the ones where the investors do the best... end up giving a lot of stock out to employees- year after year after year. Sam Altman data successful years One thing that founders forget is that after they hire employees, they have to retain them. Sam Altman employee team forget You have to let your team get all the credit for all the good stuff that happens, and you take responsibility for the bad stuff. Sam Altman credit team responsibility I think the best thing you can do is be aware that as a first time founder you are likely to be a very bad manager. Sam Altman team firsts thinking Firing people is one of the worst parts of running a company. Actually in my own experience, I think it is the worst. Sam Altman team running thinking Every first time founder waits too long, everyone hopes that an employee will turn around. But the right answer is to fire fast. Sam Altman team fire long ... fire fast when it's not working. It's better for the company, it's also better for the employee. Sam Altman employee team fire You should be giving out a lot of equity to your employees. Sam Altman employee should giving As you grow, it feels hopelessly corporate but it really is worth putting in place these compensation bands. Sam Altman band grows feels Two other things that we hear again and again from our founders, they wish they had done earlier, and that is... simply writing down how you do things and why you do things. Sam Altman wish writing two In the early days of a startup, people's compensation is whatever you negotiate with a founder and it's all over the place. Sam Altman compensation founders people The most important thing is that there is clear reporting structure and everyone knows what it is. Sam Altman clear structure important Unfortunately the trick to great execution is to say no a lot. Sam Altman execution tricks ... and you can only have 2 or 3 things everyday, because everything else will just come at you; you know fires in a day. Sam Altman everyday fire knows Every company has a rocky beginning. Sam Altman company Be suspicious of any work that is not building product or getting customers. It's easy to get sucked into an infrastructure rewrite death spiral. Sam Altman spirals building easy It's better to have a few users love your product than for a lot of users to sort of like it. Sam Altman users products love-you
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