Title says it all
- Team members are paramount; ideas are secondary in importance.
- 60% of companies in YC pivot after committing full-time, so pivoting shouldn’t be feared.
- Consider recruiting MIT team members, as 61 out of the 100 most successful startups have MIT alumni.
- Harvard students generally underperform in startups compared to MIT students based on the $100 million benchmark.
- While Stanford students fare better than Harvard’s, MIT holds the top position for successful startups.
- 70% of YC’s summer startup batch focuses on generative AI.
- There are three main pathways to start a venture: start after dropping out, start after graduation, or gain work experience first.
- YC primarily focuses on team dynamics over the idea itself.
- Having a co-founder is essential; solo founders are often not considered.
- YC is an accelerator; startups can still thrive even if not selected for YC.
- Original ideas aren’t always best; often, they face skepticism.
- One cannot truly gauge their efficacy as a founder without attempting a startup.
- Typically, most startup journeys entail failures, which can be challenging to accept, especially for high-achievers.
- Hiring engineers should be a latter step in the process.
- Startups taking longer than 8 months to launch a product might not receive funding.
- Securing the first customer within the initial 2 months is crucial.
- Co-founding with close friends is often more beneficial than partnering with strangers.
- The majority of individuals aspiring for startups don’t pursue them, and that’s acceptable.
- YC’s culture values directness without sugarcoating.
- If selected for YC, don’t miss out on Paul Graham’s walks; they’re highly beneficial.