• What advice do they have for startups?

  • Sources:

    Here is some insightful advice for startups from various experts:

    1. Sam Altman emphasizes the importance of founders making their own decisions instead of relying heavily on advisors. Founders should be prepared to step up and figure things out independently while receiving guidance in areas like product development, marketing, and legal issues from experienced advisors 1.

    2. Jason Calacanis advises startup founders to be judicious with the advice they receive, as it can be highly situational. He highlights that the right guidance varies depending on personal circumstances, such as financial status and experience level. Each founder must decide what kind of company they want to create and how to fund it based on their unique situation 2.

    3. Hiten Shah points out the importance of focusing on both customers and competition. While traditional advice often emphasizes customer focus, in today's saturated market, keeping an eye on the competition is also crucial 3.

    4. Phil Rosenzweig stresses the need for startups to have unique ideas and take calculated risks. Founders should balance being realistic about market conditions with pushing boundaries and inspiring their teams 4.

    5. Kathryn Minshew encourages founders to challenge startup dogma and trust their instincts. While some standard practices should be followed, relying on one's own beliefs and experiences can lead to significant breakthroughs, even if it means going against common wisdom 5.

    6. Jordan Stone provides practical tips such as having a reliable lawyer, leveraging advisors, keeping salaries modest to avoid mercenaries, building a great team, and ensuring traction. He also advises raising sufficient runway to avoid frequent fundraising distractions and treating the startup as a business with a clear path to revenue 6.

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