One tip is 'Embrace uncertainty.'

It's like saying, 'Get comfortable being uncomfortable', which is exactly how I feel about airline food.

4 Tips from Y Combinator 

• Why Read:

  • Gain insights on developing essential skills like coding, problem-solving, craftsmanship, and viewing a startup as a high-performing team.

• Featuring:

  • Garry Tan (@garrytan), President, CEO, and Group Partner at Y Combinator

  • Jared Friedman (@snowmaker), Group Partner at Y Combinator

  • Diana Hu (@sdianahu), Group Partner at Y Combinator

  • Harj Taggar (@harjtaggar), Managing Director, Knowledge and Group Partner at Y Combinator

• Link: 

  • “10 People + AI = Billion Dollar Company?”

Key Concepts and Tactics:

1. Learn to code, even if AI becomes more capable at programming

   • Insight: Learning to code makes you smarter and helps you think logically, which is valuable for founders.

   • Quote: "My argument is that even if everything that Jensen predicts comes true and in the future you will be able to build a great app just by writing English, you should still learn how to code because learning how to code will literally make you smarter... We have an interesting piece of evidence for this which is there's a lot of studies now that show that the way LLMs learn to think logically is by reading all the code in GitHub and basically learning how to code."

2. Treat company-building as an engineering problem

   • Insight: Successful technical founders often approach building a company as an engineering challenge, applying problem-solving skills to business and management issues.

   • Quote: "I was thinking about what you said Harj about Patrick Collison and how he went from being a programmer to like learning how to run a company and I realized that that's not just Patrick. Like, all of our best Founders are exactly like that. Sometimes people wonder how we can fund 18-year-olds with no prior management experience and expect them to build a big company someday and it's exactly that. It's because they treat it like an engineering problem."

3. Develop taste and craftsmanship in building products

   • Insight: As starting companies becomes easier, founders need to focus on developing good taste and craftsmanship to stand out.

   • Quote: "It is becoming easier to start companies than ever because there's so much infrastructure built but at the same time the requirements to be good at it and be a good founder are higher. I think it requires having even better taste and more craftsmanship to become the best founder now."

4. View your company as a team, not a family

   • Insight: Treating your startup as a sports team focused on winning is more effective than viewing it as a family.

   • Quote: "The much more functional version of it is actually a sports team. Like, here's actually what we're trying to do and we need to win. I think wanting to win is the ideal analogy whereas, you know, for family there's these weird things like, ‘oh we just want love’… I was like, ‘oh no no. That's not what a company is for. That's not what a startup is for. We're here to solve problems and win.’"

6 Things to Know About Getting Acquired

Why Read: 

• Practical insights on navigating the acquisition process, managing expectations, and ensuring product success post-acquisition.

Featuring:

• Jason M. Lemkin (@jasonlk), Trusted Advisor at SaaStr

• Link:

• “6 Things To Know About Getting Acquired: The Good, The Bad, The Somewhat Ugly”

Key Concepts and Tactics:

• Understanding the Nature of Acquisition Offers:

  • Point: Recognize that true, binding acquisition offers are less common than perceived, and many offers are soft or speculative.

  • "True, bona fide, binding offers aren't quite as common as you'd think (and as the media suggests). Buying a company is a big deal. It takes a lot of political capital and drama on the part of the acquirer. You'll get a lot more soft offers than firm ones, and more What If offers than signed, binding term sheets."

• Evaluating the Significance of the Acquirer:

  • Point: The brand or reputation of the acquirer matters less than you might think in the long run.

  • "The 'quality'/brand of the acquirer is less important than we tend to think. Selling is selling. It's not yours anymore. No doubt it is better to see it flourish in the hands of a leading tech company. But still, this will matter less over time than you think."

• Being Honest About Product Potential:

  • Point: If your product is truly game-changing, strongly consider not selling and staying independent.

  • "If You Have Something Truly Game Changing, or At Least On Its Way to Getting There — Probably Don't Sell. But be intellectually honest here."

• Planning for Post-Acquisition Involvement:

  • Point: Plan to stay involved for around 24 months after an acquisition to help the product survive and transition.

  • "Plan to Stay 24 Months. Most founders want to move on after an acquisition, and that makes sense. It's not yours anymore. But seeing the next chapter unfold is a great learning experience. Plan mentally to stay for 24 months, no matter how the compensation packages work out."

• Recognizing Acquirer Priority Changes:

  • Point: Understand that corporate priorities at acquirers change yearly, so if you reject an offer, expect it to be the last.

  • "Corporate Priorities change every year, so if you say No, mean it. Both CEOs and SVPs move on...Say no by all means. But if you do, don't expect a better, or really, another offer, next year in most cases."

• Ensuring Product Survival Post-Acquisition:

  • Point: If you sell, fight hard to keep your product alive in the first 24 months, as most acquisitions fail to properly integrate the acquired product.

  • "Most acquisitions fail. If you sell, and you don't fight to make it survive the first 24 months after acquisition, your product will probably disappear. Who else will really care, that much?"

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