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Lenny's Podcast / episode intelligence

Lessons from 1,000+ YC startups: Resilience, tar pit ideas, pivoting, more | Dalton Caldwell (Y Combinator, Managing Director)

18 Apr 2024 27 published claims 2 attributable people

Speakers in the public record

Claim mix

belief 12evaluation 6recommendation 3uncertainty 3preference 2observation 1

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Every row below preserves an exact excerpt. Identified speakers are linked; unresolved voices are labeled and excluded from people counts.

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The useful parts, with receipts.

27 published records

01 / recommendation

Recommends Getting to Yes.

“I think a lot of founders are afraid of doing sales and they don't know how to do sales, and they think they need these really experienced sales coaches and they need all this training, and I'll be like, "Well, go on to Amazon and find the most popular sales books like Getting to Yes that everyone reads, and just read those and that'll get you 80% of the way there." You know what I'm saying? They want to hire someone for millions of dollars to give them sales coaching. I'm like, "Well, have you read these really basic sales books?" And they're like, "No." And so I think that's a low cost way to go on Amazon, Getting to Yes and a few other of the top sellers, I forget the names, and just read those, and that is your crash course on how to be great at sales.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

02 / observation

The way to summarize that is if you look at all the startup stories that we have at YC and all the companies we funded over all the years, the underlying theme is that rationally the founder should have given up at some point.

“The way to summarize that is if you look at all the startup stories that we have at YC and all the companies we funded over all the years, the underlying theme is that rationally the founder should have given up at some point.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

03 / belief

I think that the advice that he's referencing here is just how important it is to not overdelegate and for the founders to stay close to things, as well as watch out for the trap of hiring super senior people with fancy resumes, really early in a startup.

“I think that the advice that he's referencing here is just how important it is to not overdelegate and for the founders to stay close to things, as well as watch out for the trap of hiring super senior people with fancy resumes, really early in a startup.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

04 / belief

I think evidence that they actually have thought about it. As per I said earlier, that they've done research, that they have opinions, that they care about it.

“I think evidence that they actually have thought about it. As per I said earlier, that they've done research, that they have opinions, that they care about it.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

05 / belief

Do I value what I'm spending my time on? And I think that you just can go back to this over and over and over again as a good prompt on how to decide what to do with your life.

“Do I value what I'm spending my time on? And I think that you just can go back to this over and over and over again as a good prompt on how to decide what to do with your life.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

09 / belief

I would argue that if we define it as the company had a near death experience where it was going poorly and the founders seriously wondered if it was all going to be over, a hundred percent of the time people go through that where the founder's like, "Yeah, I guess we're done.

“I would argue that if we define it as the company had a near death experience where it was going poorly and the founders seriously wondered if it was all going to be over, a hundred percent of the time people go through that where the founder's like, "Yeah, I guess we're done.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

10 / belief

I think a lot of founders are afraid of doing sales and they don't know how to do sales, and they think they need these really experienced sales coaches and they need all this training, and I'll be like, "Well, go on to Amazon and find the most popular sales books like Getting to Yes that everyone reads, and just read those and that'll get you 80% of the way there.

“I think a lot of founders are afraid of doing sales and they don't know how to do sales, and they think they need these really experienced sales coaches and they need all this training, and I'll be like, "Well, go on to Amazon and find the most popular sales books like Getting to Yes that everyone reads, and just read those and that'll get you 80% of the way there.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

11 / belief

I think that's a really important point there is you don't need to necessarily have that experience before you start the company, could come from trying to build the company.

“I think that's a really important point there is you don't need to necessarily have that experience before you start the company, could come from trying to build the company.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast

12 / uncertainty

There's only so many years we get to have our careers, doing something that makes you miserable and the only reason you're doing it is to avoid losing face and you know in your heart is not going to work, I don't know, that seems like a pretty big opportunity cost on literally your life.

“There's only so many years we get to have our careers, doing something that makes you miserable and the only reason you're doing it is to avoid losing face and you know in your heart is not going to work, I don't know, that seems like a pretty big opportunity cost on literally your life.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

13 / belief

I think if you just care a lot about your customers and you care a lot about the product, your instincts are pretty good on what to spend time on.

“I think if you just care a lot about your customers and you care a lot about the product, your instincts are pretty good on what to spend time on.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

14 / belief

I think in the case of Stripe, I don't want to tell Patrick's story for him, but I recall him saying at some point he wasn't as sure that Stripe was going to work until they were a year or two in.

“I think in the case of Stripe, I don't want to tell Patrick's story for him, but I recall him saying at some point he wasn't as sure that Stripe was going to work until they were a year or two in.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

15 / belief

I think that's such a good piece of advice that it's not necessarily they don't believe in what you're doing, it's they have better options and they're waiting for something that hits the higher bar because they have a lot of options.

“I think that's such a good piece of advice that it's not necessarily they don't believe in what you're doing, it's they have better options and they're waiting for something that hits the higher bar because they have a lot of options.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast

17 / uncertainty

A bad startup idea is, I don't know, something that is obviously bad or something where you just can't get any positive feedback on.

“A bad startup idea is, I don't know, something that is obviously bad or something where you just can't get any positive feedback on.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

18 / evaluation

Coming back to Zip real quick, they went through I think six different pivots before they landed on this idea that is now a billion-dollar business.

“Coming back to Zip real quick, they went through I think six different pivots before they landed on this idea that is now a billion-dollar business.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast

20 / evaluation

I think founders are afraid that they're going to run out of money and that's why they're going to shut down. And it's way more common that their idea doesn't work and they have a big fight with their co-founder, and then they can't agree on what to work on, and then they just like, "I don't want to do this anymore.

“I think founders are afraid that they're going to run out of money and that's why they're going to shut down. And it's way more common that their idea doesn't work and they have a big fight with their co-founder, and then they can't agree on what to work on, and then they just like, "I don't want to do this anymore.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

21 / recommendation

I think growth and growth hacking and doing all this analytics, A/B testing stuff, is a total waste of time for very early startups. And that one of the weird things about having lots of startup advice on the internet, again, this is one of the reasons we started making videos at YC, is a lot of the advice was catered towards later stage companies.

“I think growth and growth hacking and doing all this analytics, A/B testing stuff, is a total waste of time for very early startups. And that one of the weird things about having lots of startup advice on the internet, again, this is one of the reasons we started making videos at YC, is a lot of the advice was catered towards later stage companies.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

22 / evaluation

A few years ago, startups around trucking were super new and fresh because no one was doing them and they worked really well and then it became completely conventional wisdom to do trucking related startups.

“A few years ago, startups around trucking were super new and fresh because no one was doing them and they worked really well and then it became completely conventional wisdom to do trucking related startups.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

23 / evaluation

I think a lot of folks, the inclinations are to build a landing page and buy some Instagram ads and try to get people to sign up for something. And again, maybe that's something, but I think a lot of the reason people do that is they're just shy and they don't want to put themselves out there because it's a little awkward to go talk to people.

“I think a lot of folks, the inclinations are to build a landing page and buy some Instagram ads and try to get people to sign up for something. And again, maybe that's something, but I think a lot of the reason people do that is they're just shy and they don't want to put themselves out there because it's a little awkward to go talk to people.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

24 / evaluation

TI funded Razorpay, which is I think the largest payment processor in India, and the TAM of that was tiny because no one was using credit cards in 2015 in India.

“TI funded Razorpay, which is I think the largest payment processor in India, and the TAM of that was tiny because no one was using credit cards in 2015 in India.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast

25 / recommendation

You can do the same thing in a different way. And then the other point there is, again, coming back to you just need to be really excited and enjoy the work you're doing because that'll drive you forward and make you be successful.

“You can do the same thing in a different way. And then the other point there is, again, coming back to you just need to be really excited and enjoy the work you're doing because that'll drive you forward and make you be successful.”
Speaker
Lenny Rachitsky
Publisher
Lenny's Podcast

27 / evaluation

These are just very different personality types. But the thing that I would argue folks that build really big companies have in common is they just really want it and they really believe in themselves and they really believe they can make it work.

“These are just very different personality types. But the thing that I would argue folks that build really big companies have in common is they just really want it and they really believe in themselves and they really believe they can make it work.”
Speaker
Dalton Caldwell
Publisher
Lenny's Podcast
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