Apple's App Store approval process is severely flawed, and it's causing significant damage to their reputation among programmers. This is a stark contrast to the past when Apple was admired, almost to a fault, by its fans and developers. Now, many programmers perceive Apple as 'evil' due to the App Store's policies.
Startups are a unique beast, full of counterintuitive truths and unexpected challenges. Here are some of the key takeaways from this in-depth exploration of the startup world:
Albert Einstein is often celebrated for his intelligence, but it's his innovative ideas that truly set him apart. Intelligence is undoubtedly a prerequisite for innovation, but it's not the same thing. The distinction may seem minor, but it's significant. There are countless intelligent individuals who never make groundbreaking discoveries.
May 2021
One of the most common types of advice we give at Y Combinator is to do things that don't scale. Many founders believe startups either take off or don't, but in reality, startups take off because the founders make them take off. Founders must recruit users manually at the start, as nearly all startups do. Stripe, a successful startup we funded, is a prime example of aggressive early user acquisition, a technique we refer to as "Collison installation."
Before I had kids, I was apprehensive about the idea of parenthood. I perceived it as an end to fun and coolness, and children seemed like little terrors to my childless self. However, having children of my own has completely transformed my perspective. The instant emotional bond and protective instincts that kicked in were overwhelming and unexpected.
The Changing Landscape of Wealth Creation: From Inheritance to Innovation
If the world were static, we could have monotonically increasing confidence in our beliefs. However, this is not the case, especially for things that change, which could include practically everything. When experts are wrong, it's often because they're experts on an earlier version of the world. To avoid obsolete beliefs, one must actively protect against them. As a startup investor, I've learned that most really good startup ideas initially look like bad ideas because some change in the world just made them viable.
The most common mistake inexperienced founders make when trying to convince investors is relying too heavily on their pitch. Instead, they should let their startup do the talking. Investors are looking for startups that have the potential to be hugely successful. This doesn't mean they're looking for a guaranteed success, but rather a startup that presents a good bet.
If you collected lists of techniques for doing great work in various fields, what would the intersection look like? I decided to find out by creating it. My goal was to create a guide usable by anyone in any field and to understand the shape of this intersection. It turns out it’s not just about working hard. The first step is to decide what to work on. The work needs to have three qualities: natural aptitude, deep interest, and scope for great work. Ambitious people often worry too much about the third. Find something you have an aptitude for and great interest in.
The best way to generate startup ideas is not by trying to think of them but by identifying problems, particularly those you experience personally. The most successful startups, like Microsoft, Apple, Yahoo, Google, and Facebook, originated from founders solving problems they faced themselves. This approach ensures the problem truly exists and avoids the common trap of creating solutions in search of a problem.
When I sold my startup in 1998, I was suddenly faced with a new challenge: protecting my newfound wealth. I realized that it was just as easy to lose a fortune as it was to make one, but I was much more familiar with the latter path. To avoid the pitfalls, I began to study how fortunes are typically lost.
Independent-Mindedness: A Key to Novel Ideas
Title: The Art and Utility of Essay Writing
Despite having read Villehardouin's chronicle of the Fourth Crusade multiple times, I realize that my recollection of its contents is minimal. This observation extends to the hundreds of books on my shelves, raising the question: What is the value of reading if so little is remembered?
When I was young, I believed there was no such thing as good taste—a notion I inherited from my father. However, as I matured, I realized this belief was mistaken. The existence of good taste becomes evident when we consider the absurdity of its denial. If we reject good taste, we must also reject the existence of good art and the skill of artists, which is clearly nonsensical.
Life is indeed short, and having children has made this abundantly clear to me. Time is a continuous quantity, yet when you consider that you only have 52 weekends with your 2-year-old or can experience only eight Christmases while they are still enchanted by the magic, it becomes evident that life's moments are finite and precious.
The most effective startup ideas are often born out of your own needs—what do you wish existed for you? Apple and the iPhone are prime examples, stemming from personal desires of their creators. Our venture, Viaweb, contrasted this by targeting a broader user base we weren't part of. However, successful startups tend to align more with the personal-need origin.
Writing about something, even if you know it well, often reveals gaps in your understanding. Putting ideas into words is a severe test. The initial words chosen are usually wrong, requiring multiple rewrites. Your ideas will not only be imprecise but incomplete. Half of the ideas in an essay emerge during the writing process. Once published, it seems those were your original thoughts, but the act of writing changes them.
In 2006, after their first startup, Kiko, was rendered obsolete by Google, Justin Kan and Emmett Shear sold what remained of their company on eBay for $258,000. Unsure of their next move, they sought advice from Paul Graham, who helped them devise a plan to create Justin.tv. Today, Justin.tv is the web's largest portal for live video, boasting 31 million users per month and backed by $7.2 million in venture capital.
The most detrimental lesson you may have learned in school wasn't from a specific class, but rather the pursuit of good grades. This pursuit often overshadows genuine learning. Tests, in theory, should gauge what you've learned in a class. However, in practice, they often become the main focus of studying, with actual learning taking a backseat.
In the realm of science fiction, the concept of knowledge acquisition often transcends the traditional method of reading. Fantastical ideas of knowledge being loaded into the brain akin to a computer program are prevalent. However, this notion is far from becoming a reality, not merely due to the technical difficulty of creating such a mechanism, but also because of its inherent insufficiency.
March 2024
In our understanding of eminent scientists and their journeys, we often overlook the risks they embraced, primarily because their biographies tend to omit their errors. The conventional wisdom today is largely shaped by their successful endeavors, making their choices appear risk-free.
The thoughts that occupy our minds in idle moments, like when showering, can be surprisingly significant. It's often during these times that we inadvertently focus on the problems that matter most to us. This form of "ambient thought" is not just beneficial but necessary for solving complex issues. However, we can only influence it indirectly.
I recently advised Y Combinator applicants that the best advice for getting in was to explain what they've learned from users. This advice tests if they’re paying attention to users, understanding them, and recognizing the necessity of their product. Reflecting on what I've learned from YC's startups, the recurrence of similar problems across different startups stands out. Advising numerous startups reveals common issues, which is a key factor in YC's effectiveness.
Determination is the most crucial trait in startup founders, surpassing intelligence once you're above a certain threshold. It's about persisting through obstacles without getting demoralized. Bill Clerico and Rich Aberman of WePay exemplify this with their relentless pursuit in the face of bureaucratic resistance.
Umair Haque's assertion that startups don't become the next Google because they sell out too soon is flawed. In reality, companies like Google and Facebook were open to selling; they simply demanded more than potential acquirers were willing to pay. Startups that reject acquisition offers often fare better, possibly because founders with the courage to decline such offers tend to drive success. Google and Facebook's independence is largely due to acquirers underestimating them, a common trend in corporate M&A.
October 2015