Tag advice

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Building a Great Team & Executing Well – Startup Class Lecture 2 Notes

These are my notes for Lecture 2 of Sam Altman’s Startup class. The course, organized by Sam Altman, the President of YCombinator, has the express goal of teaching “everything we know about how to start a startup, for free, from some of the world experts.” You can also see my notes for the intro and Lecture 1.

OK. So whereas Lecture 1 focused on the five key attributes of a great startup and zeroed in on what makes for a good startup idea, Lecture 2 is focused on how to build a great team. The second half of the lecture then shifts away from one’s team and instead talks about your responsibilities as a Founder in terms of what you need to execute well on in order to succeed.

The team part of the lecture follows the following outline:

  1. CoFounders: Why they’re important, what to look for, and how to find them
  2. Why to NOT Hire: Burn rate, speed of execution, delicacy of the beginning
  3. Recruiting the best talent: What it takes to get the best
  4. Talent Retention: or, Don’t F*ck it Up
  5. Firing Fast:: or, Don’t let others F*ck it Up
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I Don’t Love Money

You know those movies where the bad-guy caresses a giant suitcase of money like it’s his favorite lover? How many times have you thought to yourself, man I’d love to have that cash!?