The document provides an overview of key points from a class and required readings on starting a startup. It discusses that the outcome of a startup depends on having the right idea, product, team, execution, and luck. It emphasizes the importance of building a product that people love, hiring slowly and firing quickly, having founders do sales and customer service, setting clear goals and metrics, and acquiring and engaging early users to build momentum. It also stresses the importance of only committing to a startup for 6-10 years if it is the right opportunity.

1. How
to
start
a
startup
Abstracts
and
thoughts
from
Class
&
required
reading

3. • Startup
Outcome
=
IDEA
x
PRODUCT
x
TEAM
x
EXECUTION
x
LUCK
(random
number
=
prob(0~10000)

4. @
Sama
talk
highlight
• Idea
:
Mission-oriented
+
convicIon
–
You
want
to
sound
crazy,
but
you
also
wanna
be
right.
–
Find
mkt
that’s
gonna
by
big
in
10
years
• Think
growth
of
the
mkt,
not
the
startups
• Product:
–
Build
Product
that
people
LOVE
–
100
loves
>>>>>
10000
likes
(GET
THIS
RIGHT)
–
Great
product
makes
everything
else
easier
• Fund
raising,
BD,
media,
hiring….etc

6. Build
Ight
feedback
loop
10%
improvemnent
per
week
Founders
do
sales
and
customer
service

7. @
Sama
talk
highlight
• Team
:
Cofounders
and
early
hires
– Startup
partnership
is
marriage
w/o
sex
• Pick
wisely
(past
experience
is
best
indicator)
• Bad
cofounder
is
worse
than
solo
founder
– Early
hires
sets
the
tone
of
company
culture
– Hire
slow,
fire
fase
– Have
equity
split
and
vesIng
conversaIons
early.
• ExecuIon:
• Move
fast
and
break
things,
build
momentum
• Sales
fix
everything
• Use
board
to
set
metrics/milestons

8. @
Sama
talk
highlight
• ExecuIon:
• CEO
sets
the
execuIon
bar
– What
to
do
&
Get
it
done
–
FOCUS
and
INTENSITY
–
Set
GOALs
and
drive
the
team.
• Move
fast
and
break
things,
build
momentum
• Sales
fix
everything
• Use
board
to
set
metrics/milestones

9. @
Sama
talk
highlight
Momentum:
winning
teams
keep
winning

10. How
do
you
deal
with
burn
out
as
a
founder
Admit
it
sucks
and
Keep
going

11. If
you’re
going
to
devote
the
best
years
of
your
life
to
your
work,
have
enough
love
for
yourself
and
the
world
around
you
to
work
on
something
that
maders
to
you
deeply
-­‐
DusIn
Moskovitz

13. Advice
to
ambiIous
19
yrs
olds

14. No
mader
what
you
choose,
build
stuff
and
be
around
smart
people

15. “Stuff”
can
be
a
lot
of
different
things—
open
source
projects
outside
of
class,
a
startup,
a
new
sales
process
at
a
company.

16. • The
best
people
always
seem
to
be
building
stuff
and
hanging
around
smart
people,
-­‐
if
you
have
to
decide
between
several
opIons,
this
may
be
a
good
filter

17. Gelng
nothing
done
for
4
of
your
most
producIve
yrs
Is
actually
predy
risky

18. startups
are
a
6-­‐10
year
commitment
—wait
for
the
right
one

19. startups
are
a
6-­‐10
year
commitment
—wait
for
the
right
one

20. Paul
Graham:
Do
things
that
don’t
scale
Recruit
users
manually
-­‐
Fight
shyness
and
laziness
-­‐
Don’t
get
frastrated
by
small
numbers
100
users
@
10%
per
week
-­‐>
2
million
users
in
2
weeks

21. Paul
Graham:
Do
things
that
don’t
scale
Fragile:
It's
harmless
if
reporters
dismiss
your
startup.
They
always
get
things
wrong.
It's
ok
if
investors
dismiss
your
startup;
They'll
change
their
minds
when
they
see
growth.

22. Paul
Graham:
Do
things
that
don’t
scale
Acquire
users
and
make
them
happy
Engineers:
please
learn
customer
service
-­‐
Be
insanely
great
-­‐
Over-­‐engage
with
your
early
users

23. Stupid
Apps
and
Changing
the
world
by
@
sama
Time-­‐tested
strategies
to
change
the
world
with
technology:
build
something
that
some
people
love
but
most
people
think
is
a
toy;
the
other
is
to
be
hyper-­‐ambiIous
and
start
an
electric
car
company
or
a
rocket
company