Placeholder Image

字幕列表 影片播放

  • Uh, before I jump into today's lecture,

  • I wanted to answer a few questions.

  • People emailed me saying they had questions about

  • the last lecture they ran out of time for.

  • So if you have a question about what we

  • covered last time um,

  • I am welcome to answer it now starting with you.

  • >> Can you use the mic feed?

  • >> Uh, it should be on.

  • Can you not hear me?

  • No?

  • Maybe you can ask them to turn on.

  • Ah, hopefully it will come on.

  • Anybody else?

  • Yes?

  • >> Ah, so one question that was submitted online was um,

  • how do I identify if a market has

  • a fast growth rate now, and also for the next ten years.

  • >> All right, so the question is

  • how you identify markets that are growing quickly.

  • Um, the good news about this is is this is one of the big

  • advantages students have.

  • Um, you should just trust your instincts on this.

  • Um, older people have to basically guess about

  • the technologies that are sort of,

  • that young people are using, right?

  • Because young people get older and

  • they become the dominant market.

  • Um, but you can just watch what you're doing,

  • what your friends are doing.

  • And um,

  • you will almost certainly have better instincts on

  • fast-growing markets than anybody older than you.

  • And so the answer to this is just trust your instincts.

  • Think about what you're using more,

  • think about what you're using, what you're

  • seeing people your age begin to start using.

  • Um, that will almost certainly be the future.

  • Maybe I can do one more question on

  • the last lecture before we start.

  • >> Um, this isn't really last lecture, but

  • another online is, how do you deal with burnout while

  • still being effective and remaining effective?

  • >> Yeah. Sure.

  • Um, so the question is

  • how you deal with burnout as a founder.

  • Uh, this, the answer to this is just that it sucks and

  • you keep going.

  • Um, unlike a student, where you can sort of throw up

  • your hands and say, you know what, I'm really burned out.

  • I'm just gonna like get bad grades this quarter.

  • Uh, one of the hard parts about running a start up

  • is that it's real life.

  • And um, you just have to get through it.

  • Uh, the canonical advice is like go

  • on vacation or whatever.

  • Um, that never works for founders.

  • It's sort of all consuming in this way.

  • It's very difficult to understand.

  • So what you do is you just keep going.

  • Um, you rely on people uh, it's like really important.

  • And founder depression is this serious thing.

  • And you need to have a support network.

  • Um, but the way through burnout is just to address

  • the challenges, address the things that are going wrong,

  • and you'll eventually feel better.

  • All right, so, last week we, or last lecture we

  • covered the idea and the product, um, and I want to

  • just emphasize that if you don't get those right,

  • none of the rest of this going to save you.

  • Um, today, we're gonna talk about how to hire ah, and

  • how to execute.

  • Hopefully you don't execute the people you hire.

  • Um.

  • Sometimes.

  • Uh, so, first, I wanna talk about co-founder.

  • Um, co-founder relationships are among the most

  • important in the entire company.

  • Um, and everyone says that you need to watch out for

  • tension brewing among co-founders, and

  • address them immediately, and that's all true.

  • And certainly in YC's case.

  • The number one cause of early death for

  • start ups is, is co-founder blow ups.

  • But for some reason a lot of treat choosing their

  • co-founder with even less importance than

  • they put on hiring.

  • Um, don't do this.

  • This is one of the most important decisions you

  • make in the life of your start up,

  • and you get treated as such.

  • And for some reason,

  • students are really bad at this.

  • They just pick someone,

  • they're like I wanna start a business,

  • you wanna start a business, let's start it,

  • start it together.

  • Um, there are these, like, co-founder dating things

  • where you're like hey, I'm looking for a co-founder.

  • We don't really know each other,

  • let's start a company.

  • And this is like crazy.

  • Um, you would never hire someone like this, and yet

  • people are willing to

  • choose their business partners this way.

  • Um, it's really, really bad.

  • And choosing a random co-founder or

  • choosing someone you don't have a long history with.

  • Choosing someone that you're not friends with.

  • So that when things are really going wrong, you have

  • this sort of past history to bind you together.

  • Um, usually ends up in disaster.

  • We had one YC batch where nine of about 75 companies

  • added on a random co-founder between when we

  • interviewed the companies and when they started,

  • and all nine of those teams fell apart in the next year.

  • Uh, the track record for founders that

  • don't already know each other is really bad.

  • Um, a good way to meet a co-founder is in college.

  • If you're not in college and

  • you don't know a co-founder, the next best thing I

  • think is to go work in an interesting company.

  • If you work at Facebook or Google or

  • something like that, um,

  • it's probably almost as co-founder Rich at Stanford.

  • It's better to have no co-founder uh,

  • than have a bad co-founder, but

  • it's still bad to be a solo founder.

  • Um, I was just looking at

  • the stats here before we started.

  • For the top, and

  • I may have missed one cause I was counting quickly, but

  • I think, but for the top 20 most valuable YC

  • companies um, all of them have at least two founders.

  • Uh, and we, we probably fund at a rate of something like

  • one out of ten solo teams.

  • Uh, so best of all,

  • founder you know, co-founder you know.

  • Um, better than that or not as good as that but

  • still okay, solo founder.

  • Random founder you meet.

  • Uh, again students do this for some reason.

  • Really, really bad.

  • Uh, so as you're thinking about co-founders and

  • people that could be good,

  • there's a question of what you're looking for, right?

  • And at YC we have this public phrase.

  • Um, and it's relentlessly resourceful.

  • And everyone's heard about it.

  • And I think that really is a very good description for

  • what you're looking for with co-founders.

  • Um, you definitely need

  • relentlessly resourceful co-founders.

  • Um, but there's a more colorful example that we

  • share at the YC kickoff.

  • Um, Paul Gram started using this, and

  • I've kept it going.

  • Um, so you're looking for

  • co-founders that need to be unflappable, tough.

  • They know what to do in every situation.

  • They act quickly.

  • They're decisive.

  • They're creative.

  • They're ready for anything.

  • Um, and it turns out that there's a model for

  • this in, in pop culture.

  • And it sounds really dumb, but

  • it's at least very memorable.

  • And we've told every class of YC this for

  • a long time, and I think it helps them.

  • Um, and that model is James Bond.

  • Um, and again it sounds crazy but it, it, uh,

  • it will at least stick in your memory and, and

  • you need someone that behaves like James Bond

  • more than you need someone that is you

  • know an expert in some particular domain.

  • As I mentioned earlier,

  • you really want to know your co-founders for

  • a while, ideally years.

  • This is true for early hires as well.

  • But incidentally, more people get this right for

  • early hires, than they do for co-founders.

  • Uh, so again, take advantage of school.

  • Um, in addition to relentlessly resourceful,

  • you want a tough and a calm co-founder.

  • Uh, there are all the obvious things like smart.

  • But everyone knows that you want a smart co-founder.

  • Uh, most people don't prioritize tough and

  • calm well enough.

  • Especially if you feel like you yourself aren't,

  • you need a co-founder who is.

  • Um, if you're not technical, and

  • hopefully most people in this room are,

  • you really want a technical co-founder.

  • There's this weird thing going on in

  • start ups right now where it's become popular to say,

  • like you know what?

  • We don't need technical founders,

  • we're gonna hire people,

  • We're just gonna be great managers.

  • Um, that doesn't work too well, in our experience.

  • In a software,

  • people really should be starting software companies.

  • Media people should be starting media companies.

  • Um, so and in the YC experience, two or

  • three co-founders seems to be about perfect.

  • Um, one obviously not great,

  • five really bad, four works sometimes, but uh, two or

  • three I think is what to target.

  • Okay, the second part of how to hire.

  • Um, try not to.

  • So one of the weird things that you'll notice if

  • you start a company is that everyone asks you

  • how many employees you have.

  • And this is the metric people use to sort of

  • judge how real your start up is and how cool you are.

  • Um, and if you say you have a high number of employees,

  • they're really impressed.

  • And if you say you have a low number of employees

  • then, then you sound like sort of this little joke.

  • Um, but actually it sucks to have a lot of employees and

  • you should be proud of how few employees you can have.

  • Lots of employees ends up with things like a high burn

  • rate, meaning that you're losing a lot of money every

  • month, complexity, tension, slow decision making.

  • The list goes on but it's nothing good.

  • So you want to, you want to be proud of how much you can

  • get done with a small number of employees.

  • Um, many of the best YC companies have had

  • phenomenally small number of employees for

  • the first year, sometimes none besides the founders.

  • Um, they really try to

  • stay small as long as they possibly can.

  • At the beginning, you should only hire when you

  • have the desperate need to.

  • Later you need to learn how to hire fast to scale up

  • the company.

  • But in the early days uh,

  • the goal should be not to hire, not too higher.

  • And one of the reasons this is so bad is that

  • the cost of getting a early hire wrong is really high.

  • Um, in fact a lot of the companies that I have been

  • very involved with that have had a very bad first hire

  • in the first three or

  • so employees never recover from it.

  • It just kills the company.

  • Um, Airbnb spent five months interviewing their first

  • employee before they hired someone.

  • And in their first year they only hired two people.

  • Um, before they hired a single person they,

  • they wrote down a list of the cultural values that

  • they wanted any Airbnb employee to have.

  • One of those was that you had to bleed Airbnb.