Sam Altman
Sam Altman
Samuel H. "Sam" Altmanis an American entrepreneur, programmer, venture capitalist and blogger. He is the president of Y Combinator and co-chairman of OpenAI...
NationalityAmerican
ProfessionBusinessman
CountryUnited States of America
light money ok spend
What is OK is to spend money for productivity. What is not OK is just to light money on fire.
call current failure learned led money regret start turn
I wouldn't call Loopt a failure. It didn't turn out like I wanted, for sure, but it was fun, I learned a lot, and I made enough money to start investing, which led me to my current job. I don't regret it at all.
companies money ought profitable round urge
One of the things we urge Y-Combinator companies to do is to have profitability in grasp. If you need to get profitable before your A round of money, you ought to be able to do that.
believe causes fun money personally regretted saving spending spent though time travel
Making money is often more fun than spending it, though I personally have never regretted money I've spent on friends, new experiences, saving time, travel, and causes I believe in.
buy freedom happiness lack money whether
Whether or not money can buy happiness, it can buy freedom, and that's a big deal. Also, lack of money is very stressful.
capital easy either figure good money needs offering raise
Generally, you want to raise capital either when you have to or when it's really easy. If the company desperately needs money, and they can't figure out any other way, then they need to raise money. Or if someone's offering you easy money on good terms, you should take it because you can use it for good things.
lose model money plenty
I have plenty of investments that I wish I'd never made. But the model is to lose money on a lot of investments and then make 1,000X or 10,000X on an investment.
team goal should
Later, you should learn to hire fast and scale up the company, but in the early days the goal should be not to hire. Not to hire.
team cost
The cost of getting an early hire wrong is really high.
companies facebook good google hit incredible job observed public standing terrible
Being a public company is really terrible for most companies. I'd say Facebook and Google have done a pretty good job of standing up to the incredible quarterly pressure to hit numbers, but most companies - and I've observed a lot now - don't do a very good job of that.
consumers tap
With Loopt Star, consumers get to tap interactive rewards wherever they may be.
america device likely networks tapping tend using
Virgin America flyers tend to be more likely to be using a mobile device and tapping social networks - even at 35,000 feet.
Ideas are cheap and easy, and there are a lot of them.
advantages large main
Move fast. Speed is one of your main advantages over large competitors.