This is a continuation of my notes covering Sam Altman’s startup class. You can also check out the intro notes (part 1 and part 2) and lecture 2 which is about building a great team.
Lecture 3 is given by Paul Graham, one of the most experienced voices in the startup world and an eloquent writer on the topic He’s also an entertaining speaker. I recommend listening to his actual video presentation.
The core of this lecture is about all of the stuff that comes before actually starting a startup. This encompasses things like how to get or recognize a great idea as well as a litany of generally useful but often counter-intuitive bits of knowledge about startups. In fact, the entire lecture is structured around understanding that startups are often very counter-intuitive.
One caveat to Paul’s lecture is in order. It often feels that one of his main goals is to issue a stark warning about the failure rates and opportunity costs of entering the startup world for the wrong reasons. As he says, “starting a startup is really hard.”
Paul wants us all to understand that startups are risky, that they have costs, and that if you’re an awestruck student buying into the entrepreneurial lifestyle because it seems sexy don’t do it. Caution is well warranted before venturing in this space.
