Notes from Paul Graham Mixergy interview
The following are notes I typed while watching the Paul Graham on Mixergy.
Interviewing with YC
Determination is the most important attribute for a startup founder. It is also the hardest thing for Paul and company to recognize.
PG likes poker plays as founders.
A good way to show you have the determination necessary to become a startup founder is to have examples...
1. AirBnB guys created their own Political themed cereal, when they were about to go broke.
2. Wufoo having already built ParticleTree.
He goes on to add that the Wufoo founders were very nervous in their interview, to the point they weren't all sure about funding them. Wufoo having already shown they can work together and were determined helped get them funded.
The YC interview isn't designed to bust your balls, they're just looking for quality founders.
Startup ideas can be crystalized in ten minute interview. Paul consideres the interview to be the first ten minute of the YC experience.
They don't care about the idea, unless it's a terrible one.
Startups take a lot. Wimps are bad.
YC after the interview
Predicting an exit is impossible. It is better not to think about it.
Location and age don't matter. Not good excuses. Why fund your own company? YC is a good deal.
There is not a formula for startups - they vary to much. But there are patterns good... launching fast and being really engaged with your customers. Bad... mulling over an idea for to long is a bad idea. (Procrastinating)
PG is trying to get better at communicating... recognizing the companies that are doomed (to not waste their time). And who to push.
The has to be an exit for the equity holders.
YC in general
Batching was initially an accident. But they have found it works really well.
YC like many startups is learning as they go.
YC is not a startup. They don't have a product, they don't have customers to answer to.
The second batch was in Californina - partially because they didn't want to be copied as the YC of Silicon Valley.
Paul on writing
Don't waste time. His goal is to make the strongest statement you can make without being false.
Get to the heart of the matter.
Mentors and co founders
To find a mentor who has done a startup themselves. From PG original talk.
How to find a founder. Most folks work with or already worked with a person.
Having a co founder is important. Most successful startups have more than one founder. Finding a good co founder is important, not having one is going to kill you. Paul seems to really emphasis this point. Work on a project together, this project doesn't have to be the startup.
On design
YC startups all have great design after only three months because Paul nags them.
You need good design to convert new users.
1. Design for the random guy (organic) who just shows up.
2. Design your site for the guy who is just about to leave.
Tell them what your website does. Tell them what to do.
PG breaks down the start up like his essays. What is at the core(essential), how would he describe what it does.
Jessica Livingston
Jessica was working on Founders at work before YC. It is one reason PG was thinking so much about startups.
There is a new founders at work coming w bunch of new interviews, takes her more than a week to complete these interviews.
The investment company Jessica worked for had no idea what startups are like.
HackerNews
Paul wanted to build something with Arc. He tried to get the Reddits to create a sub reddit for startups. Bu got tired of waiting.
It was originally called startup news. It evolved into hn, for more interesting news.
HN is run by PG and 30 or so editors (YC founders). Eats a lot of his time, mostly dealing with tons of spam and trolls.
The payoff is great source for people applying to HN... recognition.
Interviewing
Ask good questions.
Be deep ask the questions that matter.
Tells Andrew that in the short term the shallow current events do get more attention. But the HN community is a different audience.
Other tidbits
If you piss Paul off he'll raise his eyebrows and talk coldly to you.
Atleast one third of YC Startup are a failures.
Why the name Y-Combinator? Paul wanted to attract hackers not suits.
Link referred to in the interview... documents for founders.
Most people spend thier life doing work with deadlines, versus meaningful work.
To get good stuff done - blow off other stuff. You're going to have to piss some people off to get really important work done.
